Oklahoma City-based Gulfport Energy Corp., 92% weighted to natural gas, plans to remain nimble this year to ensure it may “defer or accelerate” activity depending on the direction of prices. Speaking to analysts during the recent fourth quarter conference call, CEO John Reinhart said the “volatile natural gas environment reinforces the importance of developing our…
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PHX Growing Haynesville, SCOOP Royalty Position Amid Natural Gas Price Slump
PHX Minerals Inc. is using the current natural gas price downturn to expand its mineral and royalty positions in the Haynesville Shale and South Central Oklahoma Oil Province (SCOOP) plays, management said Thursday. The Fort Worth, TX-based independent agreed to acquire about 988 net royalty acres in the Haynesville and SCOOP from five separate sellers…
Marathon Oil Keeping Production Flat, Focusing Efforts on Bakken, Eagle Ford in 2022
Even if oil prices continue to improve in 2022, Marathon Oil Corp. is planning to keep production growth flat in order to ensure market-beating returns for investors, executives said. During a conference call to discuss fourth quarter and full-year 2021 results, CFO Dane Whitehead said the Houston-based independent has a mandate to return at least…
Continental Propels Oklahoma Natural Gas Output Above Quarterly Forecast
Continental Resources Inc. reported better-than-expected natural gas production from its home base of Oklahoma for the third quarter of 2021. The Oklahoma City-based independent plans to maintain an emphasis on natural gas projects in the Sooner State amid the higher price environment. “We have elected to continue focusing on natural gas developments in Oklahoma based…
Continental Pivoting to Oil-Weighted Bakken, SCOOP as Market Rebalances
Continental Resources Inc. plans to pivot from natural gas to oil-directed drilling in the latter half of 2021 in response to strengthening crude prices and a tighter supply-demand balance. Drilling in 2021 is to be mainly focused on the South Central Oklahoma Oil Province (SCOOP) and the mighty Bakken Shale of North Dakota, management said…
Gulfport Keeping Utica Natural Gas Curtailed to Await Better Prices
Gulfport Energy Corp. is still curtailing Appalachian natural gas production in anticipation of better prices later this year and into 2021. Given an uncertain economic outlook, weak energy demand and a slight rebound in associated gas volumes, Gulfport remains “cautious near-term on natural gas pricing,” said CEO David Wood during a call to discuss second…
Continental Proves Its Primacy in Oklahoma’s SCOOP and STACK
Oklahoma City, OK-based Continental Resources Inc. turned in a third quarter earnings report that beat expectations across the board, but results in Oklahoma demonstrated the company’s dominance as one of the only producers to continuously outperform in a play that has sent multiple operators running.
Encana Halts STACK Well Completion Following Two Earthquakes
Encana Corp. has paused a well completion operation in the heart of Oklahoma’s stacked oil and gas formations following two earthquakes that measured 3.2- and 3.9-magnitude.
Gulfport’s 2Q Production Bounces Back as More Wells Turned to Sales
Gulfport Energy Corp. reported increased production during the second quarter as it turned more wells to sales following a slower stretch of completions activity at the end of 2018.
Gulfport Kicks Off Monetization Process with Small Sale of Marcellus Rights
Gulfport Energy Corp. said Friday it is making progress to simplify its portfolio as it zeros in on core assets in Ohio’s Utica Shale and the South Central Oklahoma Oil Province (SCOOP).