Here’s some recent action in Midcontinent oil and gas plays including Western Anadarko and Fayetteville producers, extended-lateral Arkoma Woodford wells and a Wolfcamp discovery in the Permian Basin.
Cushing has improved to more than $70/bbl, but WTI Midland has been fetching as much as $10/bbl less. Many Permian producers are using basis hedges to ride out the new-takeaway drought. Some have firm transport directly to export markets. How are Permian producers minding the gap? Listen in as Reed Olmstead, an expert from IHS Markit, provides further insight.
Resonance Resources retained PetroDivest Advisors to market for sale its Delaware Basin leasehold located in Lea County, N.M.