Oklahoma City-based Roan Resources Inc., which is focused exclusively on the stacked plays within the Anadarko Basin, dropped one rig in the second quarter, bringing the count to three*, and is considering potentially dropping another this year, executives said on a 2Q2019 earnings call.
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DCP Expanding Southern Hills NGL Capacity but Delaying Some Projects
Denver-based DCP Midstream LP said it plans to expand capacity on its Southern Hills natural gas liquids (NGL) pipeline system in the second half of 2019 by roughly 40,000 b/d.
Ultra Drops Another Rig in Wyoming as Focus on Cost Reduction Narrows
Wyoming pure-play Ultra Petroleum Corp. plans to drop another drilling rig in the third quarter in pursuit of positive free cash flow (FCF).
Chaparral, SandRidge Reduce Workforces but Pursue Different Strategies
Two Oklahoma City-based producers reduced their workforces in the second quarter in order to trim general and administrative costs, but one plans to ramp up Northwest Oklahoma exploration while the other looks to Colorado.
WPX Boosts Output Guidance, Replicates Permian Well Design in Williston
Tulsa-based WPX Energy Inc. boosted its outlook for 2019 production targets following the replication of its Texas well design in the Williston Basin in North Dakota.
Continental’s New Bakken Crude Project to Start Producing in 2020
Oklahoma City-based Continental Resources Inc. has announced new details for its Long Creek Bakken Unit development project, which includes a production start date in the third quarter of 2020.
Bakken Curtailments Hit Northern Oil Earnings; Midstream Relief Expected Soon
Minnetonka, MN-based independent Northern Oil and Gas Inc. reported second quarter crude production curtailments on its Bakken Shale assets, which pushed the lease operating expenses higher.
Bakken Said Last Holdout for Positive Parent-Child Well Relations
The Bakken Shale underlying North Dakota and parts of Montana could be the last oil and gas production zone where child wells are increasing output from parent wells, said James West, senior managing director of research at Evercore ISI.
Fluid Density Differences Said to Cause Anadarko Basin Tremors Long After Oil, Gas Drilling Completed
A new geological study that focused on areas of the Anadarko Basin in Oklahoma shows that differences in density between underground water and wastewater from oil and gas drilling injected into the ground corresponds with continued earthquakes long after the drilling stops.
SM Energy Boosts 2019 Production Expectations in Permian, Eagle Ford
SM Energy Co. has increased its full-year production guidance for the second time in a month on better-than-expected output in the Permian Basin and South Texas.