As more private oil producers are gobbled up by giant publics, the gas players are moving up the ranks of the top operators, according to a compiled list by Enverus in an exclusive partnership with Oil and Gas Investor.
Encino Energy’s first-quarter wells took the top five spots in Ohio as the company’s liquids output accounted for more than half of the state’s 7.23 MMbbl first-quarter total.
Gulfport Appalachia LLC has retained EnergyNet for the sale of three EOG operated Utica wells in Noble County, Ohio.
Oil per lateral foot in the Utica is as good as top Permian wells, EOG Resources told analysts May 3 as the company is taking the play to three-mile laterals and longer.
Equinor CFO Torgrim Reitan says the company’s recent U.S. asset swap with EQT Corp. was an example of the European company “high-grading” its international E&P portfolio.
Ascent Resources received a positive outlook from Fitch Ratings as the company has grown into Ohio’s No. 1 gas and No. 2 Utica oil producer, according to state data.
Equinor will part with its operated assets in the Marcellus and Utica Shale and pay $500 million to EQT in exchange for 40% of EQT’s non-operated assets in the Northern Marcellus Shale.
With buyers “starved” for top-tier natural gas assets, Appalachia could become a dealmaking hotspot in the coming years. Operators, analysts and investors are also closely watching what comes out of the ground in the Ohio Utica oil fairway.
Summit Midstream is selling Utica assets to MPLX, which include a natural gas and condensate pipeline network and storage.
Ascent Resources- Utica LLC and Ascent Utica Minerals LLC has retained EnergyNet for the sale of a non-operated 96 well package in Belmont, Guernsey, Harrison, Jefferson and Noble counties, Ohio.