Midcontinent

Energy firms across the Midcontinent and Rocky Mountain region said they needed a 21% sequential increase in the average natural gas price to warrant a substantial increase in drilling during the third quarter, the Federal Reserve Bank of Kansas City reported last week. The energy survey by the Federal Reserve branch, aka the Kansas City…

American Noble Gas Inc. is ready to sell output from an exploratory well near Garden City at the Hugoton natural gas field in Haskell and Finney Counties, KS. The initial well was connected to the gathering system on August 11, which marked the beginning of the flow of natural gas and helium for commercial sales,…

Diversified Energy Co. plc said Thursday it is acquiring about 1,500 producing Midcontinent wells from ConocoPhillips. The $240 million Anadarko Basin bolt-on, funded with existing cash and debt, would expand Diversified’s Oklahoma and Texas footprint in the company’s Central Region. The former Appalachian Basin pure play also holds assets in the gassy Barnett and Haynesville…

U.S. oilfield services (OFS) and equipment sector employment reached an estimated 622,309 jobs in April, its highest level since September, the Energy Workforce & Technology Council reported in early May. “Oil and gas demand has continued to increase, and global demand will continue to rise as more countries cut off imports of Russian energy resources,”…

American Noble Gas Inc. has agreed to acquire a 40% participation in a farmout agreement with an unspecified operator in the Hugoton natural gas field in Haskell and Finney Counties, KS. The Kansas-headquartered independent exploration and production (E&P) company would join three other partners to explore for and develop oil and gas and brine reserves…

Natural gas futures on Monday closed above $4.00 for the first time this year as European calls for U.S. exports remain robust and forecasts point to continued strong domestic weather-driven demand. The February Nymex gas futures contract settled at $4.079/MMBtu, up 16.3 cents day/day. March rose 10.8 cents to $3.834. NGI’s Spot Gas National Avg.…

Alberta-based Xfuels Inc. reported Monday that it plans to expand into the United States by adding 516 Midcontinent oil and gas wells to its holdings. The new assets come via a letter of intent (LOI) to purchase 100% of the common stock of Jubilee Exploration LLC, which controls the wells across 10 counties in northeastern…

Over the past two decades, Diversified Energy Co. has grown into a $1.3 billion company that operates 69,000 natural gas wells across the Lower 48, which produce about 106,000 boe/d on average.  In fact, the Birmingham, AL-based and London Stock Exchange-listed firm claims it is the largest U.S. gas well operator. “Natural gas will be…

Global oil and natural gas demand is forecast to remain tight in the months ahead, but Devon Energy Corp. is holding the line on production, instead looking to reward shareholders. The Oklahoma City-based independent, whose portfolio is concentrated in some of the richest oil and natural gas basins of the country, plans to maintain production…