The operators are landing laterals in zones in the estimated 17 stacked benches in addition to the traditional Uteland Butte.
Following Quantum Capital Group’s closed $1.8 billion acquisition of Caerus Oil and Gas, KODA Resources gained 160,000 acres on the Uinta side.
Adding new-well inventory going forward will require “exploration or other creative measures,” said Nick O’Grady, whose Northern Oil and Gas holds interests in 10,000 Lower 48 wells.
Northern Oil and Gas CEO Nick O’Grady said the Uinta Basin has stayed off the radar but a time may come when Utah’s best kept secret starts to heat up in the M&A market.
Upstream M&A activity fell sharply in the third quarter as public consolidation slowed and Permian Basin targets dwindled, according to Enverus Intelligence Research.
Crescent Energy CEO discusses the expanding gravitational pull of Crescent after acquiring SilverBow and others.
Recently unconstrained by new rail capacity, operators are now putting laterals into the oily, western side of this long-producing basin that comes with little associated gas and little water, making it compete with the Permian Basin.
Formentera Founder and Partner Bryan Sheffield delves into the company's drilling operations including the unique history of how Formentera took up assets in Australia's Beetaloo, in this Hart Energy Exclusive interview.
Court analysts say a decision on the proposed Uinta Basin railway, coming next year, could have a major impact on the energy industry.
SM Energy and Northern Oil and Gas have closed the acquisitions of XCL Resources and Altamont Energy, adding hundreds of locations and oil cuts of 86% to 87%.