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Chaparral Reports Surge in STACK Production, Drills Cube Spacing Test

Chaparral Reports Surge in STACK Production, Drills Cube Spacing Test

Chaparral Energy Inc. said it’s finished drilling a spacing test in Oklahoma’s Sooner Trend of the Anadarko Basin mostly in Canadian and Kingfisher counties (STACK) during the first quarter and has several additional tests planned for 2019.

May 10, 2019
Oasis Dedicating Permian Delaware Acreage to Midstream Subsidiary

Oasis Dedicating Permian Delaware Acreage to Midstream Subsidiary

Oasis Petroleum Inc., a newcomer to the Permian Basin, plans to dedicate acreage in the Delaware sub-basin to its midstream subsidiary for crude oil and produced water infrastructure development, but is holding firm on drilling and completion activity despite improving commodity prices.

May 10, 2019

Diamondback Lowers Production Guidance on Sale of Permian Assets

Permian Basin pure-play Diamondback Energy Inc. plans to sell some assets acquired from its merger with Energen Corp. last year for $322 million, as production surged and synergies from the merger continued into the first quarter.

May 9, 2019
Natural Gas Production Growth to Reduce Henry Hub to $2.79 This Year, $2.78 in ’20, Says EIA

Natural Gas Production Growth to Reduce Henry Hub to $2.79 This Year, $2.78 in ’20, Says EIA

Strong growth in domestic natural gas production is expected to draw down prices through next year, with Henry Hub spot averaging $2.79/MMBtu in 2019 and $2.78 in 2020, according to the Energy Information Administration (EIA).

May 7, 2019
Callon Still Transitioning to Larger Permian Pads, Reducing D&C Costs

Callon Still Transitioning to Larger Permian Pads, Reducing D&C Costs

Permian Basin pure-play Callon Petroleum Co. continued its transition to larger pads and brought its largest project to date online during the first quarter, while also delineating its acreage and reducing drilling and completion (D&C) costs.

May 7, 2019
EOG Holds Firm on Capital Spending, Reports 17% Increase in Production

EOG Holds Firm on Capital Spending, Reports 17% Increase in Production

With oil prices on the rebound, onshore heavyweight EOG Resources Inc. is holding firm on capital spending while it increases oil export capacity from the U.S. Gulf Coast, as overall production increased more than 17%.

May 6, 2019

Oil Price Rebound Allowing Williston, DJ-Focused Whiting to Reduce Debt

Whiting Petroleum Corp. said it is taking advantage of resurgent oil prices to pay down its debt and is on-target with capital expenditures (capex) for the year, despite spending more than it planned on nonoperated expenses during the first quarter.

May 6, 2019

Permian Operators Diverge as Laredo Raises Capex, Parsley Holds Firm

With oil prices on the rebound, Permian Basin pure-plays Laredo Petroleum Inc. and Parsley Energy Inc. reported taking different approaches toward getting into free cash flow (FCF) sooner rather than later.

May 3, 2019
Concho Raises Permian Growth Outlook, Eyes More Acreage Trades

Concho Raises Permian Growth Outlook, Eyes More Acreage Trades

Permian Basin pure-play Concho Resources Inc. bumped up its growth outlook for production in 2019, but it kept its spending plans unchanged as it completed several major projects ahead of schedule.

May 2, 2019

Roan Evaluating Multiple Offers for Potential Sale or Merger

Oklahoma City-based Roan Resources Inc. said it has formed a board committee to evaluate a potential sale or merger after receiving multiple unsolicited offers.

May 2, 2019
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