Midcontinent

U.S. OFS Jobs Jump by 8,600-Plus in April from March

U.S. OFS Jobs Jump by 8,600-Plus in April from March

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,”…

May 19, 2022
American Noble to Explore for Natural Gas in Kansas’ Hugoton Field

American Noble to Explore for Natural Gas in Kansas’ Hugoton Field

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…

April 18, 2022
For First Time in New Year, February Natural Gas Futures Eclipse $4

For First Time in New Year, February Natural Gas Futures Eclipse $4

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.…

January 10, 2022
Xfuels to Acquire Oil, Gas Wells in Kansas and Oklahoma

Xfuels to Acquire Oil, Gas Wells in Kansas and Oklahoma

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…

November 29, 2021
Acquisition-Minded Diversified Energy Looks to Optimize Lower 48 Natural Gas Well Inventory

Acquisition-Minded Diversified Energy Looks to Optimize Lower 48 Natural Gas Well Inventory

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…

November 18, 2021
Devon Holding Lower 48 Oil, Gas Output Flat into 2022, Rewarding Shareholders Instead

Devon Holding Lower 48 Oil, Gas Output Flat into 2022, Rewarding Shareholders Instead

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…

November 4, 2021
Continental Takes On Permian Delaware in $3.25B Deal with Pioneer Natural

Continental Takes On Permian Delaware in $3.25B Deal with Pioneer Natural

Continental Resources Inc. is expanding into the Permian Basin through an all-cash acquisition from Pioneer Natural Resources Co. valued at about $3.25 billion. The assets in the Texas portion of the Delaware sub-basin are currently producing 55,000 boe/d with a 70% oil cut. They comprise more than 1,000 total locations, including more than 650 gross…

November 4, 2021
Devon CEO Not Ruling Out More Acquisitions as Rumors Swirl about Shell’s Permian Assets

Devon CEO Not Ruling Out More Acquisitions as Rumors Swirl about Shell’s Permian Assets

It’s already completed a big Lower 48 takeover this year, but Devon Energy Corp. isn’t ruling out making a bid on more oil and natural gas assets, the CEO said Wednesday. Over the last couple of weeks, rumors have swirled that Royal Dutch Shell plc may sell its Permian Basin portfolio, estimated to be worth…

August 5, 2021
Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Inc., whose portfolio stretches from Western Canada to West Texas, is seeing costs for materials and labor rising, but inflationary pressures and capital guidance are being kept in check with operational efficiencies, executives said Wednesday. CEO Doug Suttles, who is retiring, presided over his final conference call on Wednesday, ushering in a new era…

July 29, 2021
Oil, Natural Gas Rig Tallies Rise as Baker’s U.S. Count Climbs to 484

Oil, Natural Gas Rig Tallies Rise as Baker’s U.S. Count Climbs to 484

Amid a ramp-up in both oil- and natural gas-directed drilling, the United States added five rigs to raise its tally to 484 during the week ended Friday (July 16), according to the latest count from Baker Hughes Co. (BKR). Three natural gas-directed rigs and two oil-directed rigs were added domestically during the week. The U.S.…

July 16, 2021
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