Midcontinent

Industrial Demand Said ‘Unsung Hero’ of U.S. Natural Gas Demand

Investors with long positions in natural gas can take comfort in growing industrial sector demand, according to an industry veteran who spoke Monday in Chicago.

September 9, 2019
Gas-Focused Harvest Oil Posts Loss, Output Declines

Gas-Focused Harvest Oil Posts Loss, Output Declines

Houston-based Harvest Oil and Gas Corp., which has a natural gas-weighted asset base in formations across the Lower 48, posted significant year/year declines in production for the second quarter.

August 19, 2019

Midcontinent E&Ps Hunkering Down, Says Kansas City Fed

Energy activity was flat in the first quarter across much of the Rockies and the northern half of New Mexico, as the region’s exploration and production (E&P) companies said natural gas prices needed to average $3.02/MMBtu for drilling to be profitable, according to the Federal Reserve Bank (Fed) of Kansas City.

April 15, 2019

SandRidge Planning Detective Work in Colorado’s North Park Basin

SandRidge Energy Inc. plans to boost oil production while spending less on capital in 2019, but it is devoting most of its operating cash flow to the North Park Basin in Colorado, where it anticipates finding thousands of potential drilling targets.

March 6, 2019
Cimarex Committed to ‘Living Within Cash Flow,’ Pivoting to Permian

Cimarex Committed to ‘Living Within Cash Flow,’ Pivoting to Permian

Denver-based Cimarex Energy Co. said it will cut its capital budget for 2019 and pivot to developing assets in the Permian Basin over the Midcontinent, but it won’t drop any rigs as it looks to grow its total production by double digits.

February 22, 2019

Gastar Emerges From Chapter 11, Goes Private

Midcontinent pure-player Gastar Exploration Inc. emerged from bankruptcy protection as a private company on Tuesday, after completing a financial restructuring and eliminating more than $350 million of debt and preferred equity obligations from its balance sheet.

January 25, 2019
Southern Star Launches Nonbinding Open Season For Pair of SCOOP/STACK Projects

Southern Star Launches Nonbinding Open Season For Pair of SCOOP/STACK Projects

Southern Star Central Gas Pipeline Inc. announced a nonbinding open season to gauge interest in two potential projects designed to serve Oklahoma’s stacked plays in the Midcontinent, including expanded market access through the Natural Gas Pipeline Company of America LLC (NGPL) pipeline system.

January 10, 2019
Cimarex, Parsley Expecting Price Advantages by Delaying Some Permian Output

Cimarex, Parsley Expecting Price Advantages by Delaying Some Permian Output

Cimarex Energy Co. said it plans to increase crude oil production up to 25% year/year (y/y) while Permian pure-player Parsley Energy Inc. has increased its spending plans and year-end production guidance to reflect shorter cycle times not seen since a wave of asset integrations.

August 13, 2018
Midcontinent Natural Gas Use for Power Could Plunge Without Carbon Capture, Study Finds

Midcontinent Natural Gas Use for Power Could Plunge Without Carbon Capture, Study Finds

Easily dispatchable resources including natural gas with carbon capture likely will be part of the Midcontinent’s future energy mix, but the region should “keep its options open and pursue several very low and zero-carbon options for power generation and storage” to achieve carbon reductions of 80-95% below 2005 levels by 2050, according to a new study.

July 25, 2018

Gastar Considering Sale, Restructuring

Houston-based Gastar Exploration Inc. said in a regulatory filing on Monday it has hired advisers to explore strategic alternatives, including the possibility of selling the company or restructuring the balance sheet.

July 24, 2018