BPX Energy CEO Kyle Koontz discusses the company’s role as the “nimble entrepreneurial” arm of supermajor BP in the Permian Basin and Haynesville and Eagle Ford shales.
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.
Aethon Energy’s latest well made 2.6 Bcf in its first 3.5 months online. The new play’s first 15 wells to date have made 100.3 Bcf, averaging 21 MMcf/d over a combined 159 months.
U.S. gas producers continue to wade through low commodity prices, a situation made even stickier by record Permian gas production, said Chesapeake COO Josh Viets. But with a “constructive” natural gas market on the horizon, producers are consolidating and exploring for drilling runway.
Natural gas prices, stuck in the doldrums since January, have been slowly rising since May.
Hunt Oil Co., one of the nation’s oldest family-owned oil companies, is marketing minerals and royalties across several major basins.
Tellurian, which is developing the 27.6 mtpa Driftwood project in Louisiana, relaunched itself as a LNG pure play with the sale of its Haynesville upstream assets to Aethon Energy, but analysts see lingering financial problems for the company.
Aethon Energy is acquiring Tellurian Inc.'s Haynesville Shale assets in a $260 million deal, allowing Aethon to continue growing as the basin's top private producer and for financially struggling Tellurian to prioritize its flagship Driftwood LNG project.
BPX Energy, BP’s Houston-based subsidiary, plans to bring on its fourth and last Permian Basin processing facility in mid-year 2025, CEO Murray Auchincloss said.
Midstream company Williams saw overall demand growth as heavy gas volumes passed through its network.