Scoop

Velocity Midstream Partners LLChas begun construction of a 22-mile long, 12-inch diameter crude oil pipeline extension linking the core of the Merge play to its South-Central Oklahoma Oil Province (SCOOP) pipeline assets, and expects to have it in operation next month. Velocity has completed construction of a 45-mile, 12-inch diameter oil pipeline loop of its existing condensate pipeline through the fairway of the SCOOP, a project that it said is supported by expanded commitments from Continental Resources Inc.and CVR Refining LP. Velocity and CVR entered ajoint venturein 2016 to construct a crude oil pipeline and terminal that would link production from the SCOOP to a nearby refinery. Velocity’s system is now comprised of 125 miles of pipeline capable of flowing 250,000 b/d, along with 395,000 bbl of storage and 26 truck unloading bays capable of unloading more than 100,000 b/d.

Regulators in Oklahoma say data gathered since seismicity guidelines went into effect in late 2016 supports new requirements for oil and gas operators planning to drill in the state’s stacked reservoirs, thereby reducing the chances of future earthquakes from completion activities.

Gulfport Energy Corp. reported encouraging results from its first Springer Shale well in the South Central Oklahoma Oil Province (SCOOP), which yielded a strong oil cut and which may lead to continued delineation efforts.

An active year in which it set out to delineate the South Central Oklahoma Oil Province (SCOOP), along with a push to acquire and trade for leasehold in core areas, has led Gulfport Energy Corp. to increase 2017 capital spending by 10.5% this year to $1.16 billion.

Gulfport Energy Corp. has again beaten Wall Street consensus, reporting 1.2 Bcfe/d of third quarter production driven partly by more volumes from its nascent program in the South Central Oklahoma Oil Province (SCOOP).

Gulfport Energy Corp. continued to lean on the Utica Shale, which helped it to outperform expectations and beat guidance during the first quarter, when it got to work on building a new core asset into its portfolio in the South Central Oklahoma Oil Province (SCOOP).

Newfield Exploration Co. offered what some analysts took to be a conservative outlook for activity in 2017, but during a conference call Wednesday, CEO Lee Boothby said the company is ready “to step on the accelerator” when stronger commodity prices and incremental cash flow give it the incentive.

Gulfport Energy Corp. has plans this year to get familiar with the South Central Oklahoma Oil Province (SCOOP), hoping to transfer what it’s learned during the last five years in Ohio’s Utica Shale to the Midcontinent’s stacked pay potential.

Private equity-backed Casillas Petroleum Resource Partners LLC announced a $294 million deal late Monday with Continental Resources Inc. to buy up 30,000 net acres in the SCOOP (South Central Oklahoma Oil Province) of the Anadarko Basin.