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.
Articles from Chaparral
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.
Oklahoma City-based Chaparral Energy Inc., which works the STACK, aka the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties, expects to increase production by 45-59% this year using fewer rigs and less capital.
Citing strong well results in Oklahoma’s Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties, i.e. STACK, Chaparral Energy Inc. has increased its full-year production guidance.
Baker Hughes, a GE company (BHGE), is selling its natural gas solutions (NGS) business, part of the turbomachinery and process solutions segment, in two separate agreements for a total of $375 million. The NGS product line is being sold to First Reserve in a transaction that includes three manufacturing sites in North America and the UK, as well as transferring 450 employees in eight countries. Separately, the Talamona, Italy branch of the NGS product line, which includes a manufacturing site, is being sold to Pietro Fiorentini SpA. Forty employees in Talamona also would be transferred. Both transactions are expected to close by the end of the year.
Chaparral Energy Inc., a pure-play operator focused on the STACK (Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties) play in Oklahoma, said it has entered into an agreement to purchase 7,000 contiguous net acres in the latter county for $60 million in cash.
Oklahoma-focused Chaparral Energy Inc. said Friday it is taking $170 million from an undisclosed buyer for the North Burbank and Texas Panhandle enhanced oil recovery (EOR) assets within the STACK, aka the Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties.
Chaparral Energy Inc. is forming a drilling joint venture (JV) with Bayou City Energy to help fund development of its 110,000 acres in Oklahoma’s Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties (aka, the STACK).
After emerging from Chapter 11 proceedings $1.2 billion in debt lighter, Midcontinent-focused Chaparral Energy Inc. is budgeting $135-$155 million in 2017 to develop its position in Oklahoma’s Sooner Trend of the Anadarko Basin, mostly in Canadian and Kingfisher counties (aka, the STACK).
Chaparral Energy Inc., an independent producer focused exclusively on the Midcontinent, said its plan to exit bankruptcy protection has been approved by its bondholders, lenders and a bankruptcy court, and it plans to exit Chapter 11 by the end of the month.