Bakken

Riverbend Energy Sells $1.8B in Lower 48 Assets to Undisclosed Buyer

Riverbend Energy Sells $1.8B in Lower 48 Assets to Undisclosed Buyer

Houston-based investment firm Riverbend Energy Group said it has found a buyer for the sale of $1.8 billion in upstream equity interests. The assets include nonoperated interests across the Bakken/Three Forks, Utica, Fayetteville and Haynesville shale formations. The properties produce about 47,000 boe/d from 11,000 wells, the company said. A spokesperson would not comment on…

June 17, 2022
Paul Ryan-Led SPAC in $1.3B Deal to Create Lower 48 E&P

Paul Ryan-Led SPAC in $1.3B Deal to Create Lower 48 E&P

A special purpose acquisition company (SPAC) chaired by former House Speaker Paul Ryan is teaming up with Dallas-based private equity (PE) firm Grey Rock Investment Partners to form a publicly traded Lower 48 exploration and production (E&P) company. Under the proposed transaction, Grey Rock would join forces with Ryan’s Executive Network Partnering Corp. (ENPC) to…

May 17, 2022
Bakken Challenged by Labor Shortages, while Federal Auction Set for June

Bakken Challenged by Labor Shortages, while Federal Auction Set for June

The Department of the Interior’s (DOI) Bureau of Land Management (BLM) plans to hold a lease sale on June 28 for 23 federally owned parcels spanning nearly 3,406 acres in Montana and North Dakota. The sale notice issued by BLM’s Montana/Dakotas state office is part of a larger plan announced at the federal level to…

April 22, 2022
ConocoPhillips Putting Brand on Shell’s Former Permian Acreage

ConocoPhillips Putting Brand on Shell’s Former Permian Acreage

ConocoPhillips plans to keep the number of rigs steady on Permian Basin acreage recently acquired from Shell plc. “We plan to continue running four rigs on that property, the same activity rate that Shell was running, through the remainder of this year,” Executive Vice President Tim Leach who oversees Lower 48 operations told analysts during…

February 4, 2022
Hess Boosts Activity in Bakken on Commodity Price Strength

Hess Boosts Activity in Bakken on Commodity Price Strength

U.S. independent Hess Corp. has added a third rig in the Bakken Shale and may consider a fourth next year amid continued commodity price strength. The New York-based producer is ramping up Bakken activity after curtailments last year from the coronavirus. Net production from the Bakken was 148,000 boe/d in the third quarter compared with…

October 29, 2021
Lower 48 Oil, Natural Gas Production to Rise in November as DUC Drawdown Continues

Lower 48 Oil, Natural Gas Production to Rise in November as DUC Drawdown Continues

U.S. onshore oil and natural gas production is set to rise from October to November, propelled by supply growth in the Permian Basin and Haynesville Shale, according to updated projections Monday from the U.S. Energy Information Administration (EIA). Natural gas production from seven key U.S. producing regions — the Anadarko, Appalachia and Permian basins, along…

October 18, 2021
Comstock to Exit Bakken for $154M, Boost Gassy Haynesville Completions

Comstock to Exit Bakken for $154M, Boost Gassy Haynesville Completions

Comstock Resources Inc. plans to fund a boost in completions activity at its Haynesville Shale assets in Louisiana and Texas using the proceeds from selling properties in North Dakota. The Frisco, TX-based independent said Thursday it would exit the Bakken Shale, selling its assets to Northern Oil & Gas Inc. for $154 million in cash.…

October 8, 2021
Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale

Calgary-based Enerplus Corp. is selling off a small bundle of oil and natural gas interests in Montana and North Dakota for $115 million, but the Williston Basin remains a priority, the CEO said.   Stakes are being sold in Montana’s Sleeping Giant field and North Dakota’s Russian Creek area of the Williston, home to the Bakken…

September 1, 2021
Lower 48 Associated Gas Output Broke Yearslong Uptrend in 2020, EIA Says

Lower 48 Associated Gas Output Broke Yearslong Uptrend in 2020, EIA Says

Associated natural gas production from U.S. onshore oil plays fell in 2020, marking the first year/year decline in output since 2016, the Energy Information Administration (EIA) said in a research note published Monday. Production of associated gas from the Permian and Anadarko basins, as well as from the Bakken, Eagle Ford and Niobrara shales, fell…

August 23, 2021
Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

July 12, 2021
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