BP Shrinks Again To Weather Extended Oil Slump
The British oil and gas company, which has already sold nearly $50 billion in assets since the deadly 2010 Gulf of Mexico spill, said it expected an additional $3- to $5 billion of divestments in 2016.
A Giant In Its Own Right: Oklahoma Stands Out With Oil, Gas Production
The Sooner State is often disregarded in favor of its big brothers in the oil and gas industry–Texas and North Dakota—but it remains a solid producer and has attracted considerable investment in a down market.
Midcontinent Needs $70 Oil To Restart Horizontal Drilling
Pressure pumpers say activity has stabilized in the Midcontinent. Unfortunately, stable demand in this instance represents demand at an exceptionally low level.
Low Interest In Midcontinent Refracks
Recompletions currently represent 14% of Midcontinent downhole market. Most operators are delaying completions on wells after they have been drilled, awaiting an improvement in commodity prices before moving forward.
Deal Gears Gastar Up For Pure Midcontinent Focus
Gastar puts its core Marcellus/Utica assets on the market as it gains more exposure to the alluring Meramec Shale in a deal for more acreage in Oklahoma’s Stack Play.
Shake Out Fears Worry Midcontinent Well Service Firms
Smaller firms are exiting the market as low prices and weak demand take a toll. Routine maintenance now accounts for more than 80% of job mix.
Basic Energy Lowers Fracking Services Prices
The company's fluid services business has been the most resilient. This is due to its salt water disposal well network, especially in markets like the Permian Basin.
Sub-$50 Oil Leaves Most Of Midcontinent Uneconomic For Drilling
Utilization has fallen to 37% among survey respondents. None of the survey respondents expected rig count to improve before year-end, pending some unexpected event globally.
Unit Boosts Production Outlook For SoHot, Wilcox, Granite Wash
As a result of these efficiencies, the company is reducing its 2015 capex by about $30 million less than originally budgeted.
KKR's Samson Resources Files For Bankruptcy, Lenders To Take Control
The company, owned by private-equity firm KKR & Co., listed assets and liabilities of more than $1 billion in its bankruptcy filing.