The Williston and Permian basins are expected to drive at least 300,000 b/d of shut-in oil supply from Lower 48 operators during May and June, up from about 100,000 b/d of cuts projected for April, according to new analysis by Rystad Energy.
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WPX Energy Inc. expects to generate positive free cash flow (FCF) in 2020, even if oil prices fall to $40/bbl, CFO J. Kevin Vann said during the recent fourth quarter 2019 earnings call.
Private midstreamer Outrigger Energy II LLC has agreed to provide long-term natural gas gathering and processing services to a subsidiary of supermajor ExxonMobil Corp. to assist in developing Williston Basin assets in North Dakota.
Houston-based Oasis Petroleum Inc. completed multiple bolt-on acquisitions during the third quarter in order to beef up its assets in the Permian Basin’s Delaware sub-basin.
Oasis Petroleum Inc. said it expects production to be essentially flat entering into 2019, and plans to use cash flow from its assets in the Williston Basin to fund a small outspend in the Permian’s Delaware sub-basin.
Houston-based Oasis Petroleum Inc. said it plans to add a fifth operated rig to the Williston Basin next month, and will target multiple zones of the Permian Basin’s Wolfcamp and Third Bone Spring formations for development next year, where it also may add a third rig next summer.
QEP Resources Inc. has secured a deal to sell its Montana and North Dakota assets in the Williston Basin to Vantage Energy Acquisition Corp.
Oneok Inc. plans to construct additional infrastructure to handle growing natural gas and natural gas liquids (NGL) volumes from its U.S. operations, including a fractionator in Texas, a gas processing facility to serve the Williston Basin and an NGL pipeline extension and expansion in the Midcontinent.
Oasis Petroleum Inc. said it plans to spend an additional $80 million this year on capital expenditures (capex) in the Williston Basin, home to most of its assets, as it looks to take advantage of existing infrastructure and better price differentials than those in the Permian Basin’s Delaware sub-basin, where it holds fewer assets and takeaway capacity is constrained.
Denver-based Whiting Petroleum Corp.’s CEO Brad Holly on Wednesday said his company has pulled some of its Denver-Julesburg (DJ) Basin assets from the sales block and added nearly 55,000 net acres in the Williston Basin as its drilling teams continue to set new records for shortening well completion times.