BHP Boosts Exploration Spend To $900 Million As Focus Narrows
Petroleum exploration by BHP will focus on deepwater basins in the Gulf of Mexico, the Caribbean and the Northern Beagle basin, off the coast of Western Australia.
SandRidge, Breitburn File For Bankruptcy Protection
A plunge in global crude prices has now pushed at least 28 publicly traded North American oil and gas producers to seek bankruptcy protection since early 2015, according to a Reuters review of regulatory filings.
Exco Resources Forms Committee To Evaluate Strategic Alternatives
The special committee will evaluate options such as divestitures and restructuring of its gathering, transportation and certain other contracts, the company said.
Indigo Minerals Lands Cotton Valley/Haynesville Acreage For $375 Million
The acquisition included certain producing properties and undeveloped acreage in the core of the plays. Pro forma, Indigo Minerals holds about 160,000 net acres in Northwest Louisiana and East Texas.
Cotton Valley, Eaglebine Offer Some Service Providers Hope
Tough times and low demand add pressure on service providers in dry gas basins as operators “slow-walk” payment for services. Meanwhile, Eaglebine and Cotton Valley activity offers stability for some.
Operators Postpone Dry Gas Basin Refracks
While everyone is talking refrack opportunities in the Haynesville and Barnett, programs have been put on hold until commodity prices improve, including Devon Energy’s refrack effort in the Barnett.
Drilling Rig Rare Sight In Dry Gas Shale Basins
All is quiet in the Haynesville, Fayetteville and Barnett shales until operators see sustained natural gas prices of $2.90, according to Hart Energy’s Heard In The Field survey.
Barnett, Fayetteville, Haynesville Operators Stretch Out Workover Payments
Workover contractors in dry gas basins are hunkering down as several operators go dormant or redirect capital spending elsewhere, according to Hart Energy’s Heard In The Field survey.
Freeport-McMoRan Axes Energy Unit Execs To Cut Costs
The Phoenix, Ariz.-based company said Jim Flores, the chief executive of Freeport-McMoRan Oil & Gas, Doss Bourgeois, its COO, Winston Talbert, its CFO, and John Wombwell, its general counsel, will leave the company.
EXCO's Borrowing Base Cut By 13%, Plans To Defer Drilling
EXCO has decided to significantly reduce its drilling activity in 2016 with plans to defer a significant amount of its drilling inventory until commodity prices improve, the release said.