Roan

Oklahoma City-based Roan Resources Inc. has raised its oil and natural gas production guidance for 2019 even as capital spending is coming down.

Oklahoma City-based Roan Resources Inc. said it has formed a board committee to evaluate a potential sale or merger after receiving multiple unsolicited offers.

Roan Resources Inc. has redesigned its 2019 drilling plans for the stacked plays within the Anadarko Basin after four wells targeting the Woodford Shale were impacted last year by well interference issues with the Mayes Shale.

Oklahoma City-based Roan Resources Inc. said it plans to cut capital expenditures (capex) by at least one-quarter and will focus on growing production by about 30% in 2019 under a revised development plan that projects positive free cash flow (FCF) by the end the year, rather than 2020.

Regulators in Oklahoma ordered Roan Resources Inc. to halt completion operations at an oil well after the Midcontinent region was struck by a 3.4-magnitude earthquake on Sunday evening.

Roan Resources Inc., newly formed by Linn Energy Inc., Roan Holdings LLC and Roan LLC, expects to begin trading over the counter by the end of the month as a pure-play Oklahoma explorer.

Roan Resources LLC executives said their new pure-play exploration and production (E&P) company plans to deploy an eighth rig in Oklahoma’s stacked plays by the end of the year, with a goal of more than doubling production by the end of 2019.

Six years of turmoil were ended Friday with a federal-state settlement of the disputed oil/natural gas drilling leases on Colorado’s Roan Plateau along a pristine portion of the Western Slope near Rifle, CO. The deal provides for protections, some drilling, 17 of 19 leases by one company to be rescinded, and other leaseholders in a designated base area to hang on to their holdings.

The Bureau of Land Management’s (BLM) proposed Roan Plateau resource management plan (RMP) released Thursday appears to be overly restrictive in requiring only one oil and gas development company to be the operator for all the leases on top of the plateau itself, which represents about 50% of the planning area in the Piceance Basin of western Colorado, said Greg Schnacke, executive vice present of the Colorado Oil and Gas Association. Schnacke said the idea of having one company do all the development is unprecedented and will probably backfire on the agency.