Global oil and natural gas demand is forecast to remain tight in the months ahead, but Devon Energy Corp. is holding the line on its Lower 48 production and instead rewarding shareholders. The Oklahoma City-based independent, whose portfolio is concentrated in some of the richest oil and natural gas basins of the country, plans to…
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Devon Holding Lower 48 Oil, Gas Output Flat into 2022, Rewarding Shareholders Instead
Global oil and natural gas demand is forecast to remain tight in the months ahead, but Devon Energy Corp. is holding the line on production, instead looking to reward shareholders. The Oklahoma City-based independent, whose portfolio is concentrated in some of the richest oil and natural gas basins of the country, plans to maintain production…
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…
DUC Drawdown Continuation to Bump U.S. Onshore Natural Gas, Oil Production Next Month
U.S. onshore oil and natural gas production is set to rise from October to November, propelled by supply growth in the Permian Basin and Haynesville Shale, according to updated projections Monday from the U.S. Energy Information Administration (EIA). Natural gas production from seven key U.S. producing regions — the Anadarko, Appalachia and Permian basins, along…
U.S. Supreme Court Asked to Intercede in Dakota Access Legal Fight
Dakota Access LLC, operator of the eponymous crude oil conduit ensnared in a legal battle over its right to stay in operation after a federal judge vacated a critical easement, has asked the U.S. Supreme Court to weigh in on its case. The questions presented by counsel representing the 1,172-mile Dakota Access Pipeline (DAPL) could…
North Dakota Oil, Natural Gas Production Slips Again in July
Oil and natural gas production in North Dakota, home to the Bakken Shale, declined slightly in July from June, even as the rig count inched higher. Department of Mineral Resources (DMR) director Lynn Helms issued the monthly Director’s Cut on Friday, which provides information about all of the wells capable of producing, as well as…
Enerplus Skims Off Some Williston Oil, Gas Properties in $115M Sale
Calgary-based Enerplus Corp. is selling off a small bundle of oil and natural gas interests in Montana and North Dakota for $115 million, but the Williston Basin remains a priority, the CEO said. Stakes are being sold in Montana’s Sleeping Giant field and North Dakota’s Russian Creek area of the Williston, home to the Bakken…
Andros Capital Splashes $150M on Permian JV as Upstream PE Deals Heat Up
Houston-based private equity (PE) firm Andros Capital Partners LLC said Wednesday (Aug. 25) it has closed a $150 million development drilling joint venture in the Permian Basin’s Spraberry and Wolfcamp formations in Midland County, TX. Andros affiliate Andros Permian LLC is to fund the drilling program in a joint venture partnership with exploration and production…
Bakken Oil, Natural Gas Production Yet to Awaken from Covid Slumber
New data has shown that oil and natural gas production in North Dakota’s Bakken Shale fell in June from May, as Department of Mineral Resources director Lynn Helms said output was struggling following last year’s pandemic. “The Covid-19 pandemic sort of put the industry to sleep, and it is struggling somewhat to wake up,” Helms…
North Dakota’s Bakken Oil, Gas Production Said Struggling to ‘Wake Up’
Oil and natural gas production in North Dakota’s Bakken Shale fell in June from May, as Department of Mineral Resources director Lynn Helms said output was struggling following last year’s pandemic. “The Covid-19 pandemic sort of put the industry to sleep, and it is struggling somewhat to wake up,” Helms said last week during a…