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.
Tag / Midcontinent
SubscribeMidcontinent
Articles from Midcontinent
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.
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.
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.
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.
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.
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.
Kimbell to Acquire Haymaker Assets for $404M, Boosting Position in Permian, Midcontinent
Kimbell Royalty Partners LP plans to solidify its position in the Permian Basin and the Midcontinent by acquiring all mineral and royalty interests held by Haymaker Resources LP and Haymaker Minerals & Royalties LLC in a deal valued at $404 million.
Cimarex, Laredo, Diamondback Boost Oil Production in 2017
Onshore-focused explorers Cimarex Energy Co., Laredo Petroleum Inc. and Diamondback Energy Inc. each reported increased oil production in 2017 and in some cases broke company records, and all three plan to operate within cash flows in 2018.
Newly Launched Native Exploration to Tap Opportunities in Midcontinent
With funding from private equity giant Kayne Anderson Energy Funds, Native Exploration Holdings LLC plans to prowl for opportunities in the Midcontinent, particularly Oklahoma.