Vitesse Energy to Buy Bakken Pureplay Lucero in $220MM Deal
Vitesse Energy will acquire Lucero Energy’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions.
Wildcatting is Back: The New Lower 48 Oil Plays
Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
PHX Minerals Explores Sale After Rejecting Acquisition Bids
PHX Minerals hired bankers to explore a potential merger or sale of the firm, which manages assets across the Midcontinent and Haynesville Shale play. PHX has rejected multiple unsolicited acquisition bids in the past two years.
US Oil, Gas Rig Count Unchanged at 589 in Week to Dec. 13, Baker Hughes Says
U.S. energy firms this week operated the same number of oil and natural gas rigs as they did last week, according to Baker Hughes' weekly report.
CEO: Berry Gears Up for Horizontal Drilling in Uinta Stacked Pay
Berry Corp.’s legacy roots are in California’s Central Valley—but its growth engine is in Utah’s emerging Uinta Basin, CEO Fernando Araujo told Hart Energy.
Exclusive: Novi Labs’ Ludwig on AI Preventing Costly Drilling Mistakes
Novi Labs President and Co-Founder Jon Ludwig gives insight on how AI and machine learning allow diverse applications for oil and gas operations and less risk for cataclysmic failure, in this Hart Energy Exclusive interview.
Shale Players Hit Sweet Spot with Higher Volumes, Lower Costs: EIA
Over the past two years, publicly traded E&Ps have generally increased production, with oil volumes in second-quarter 2024 averaging 3.9 MMbbl/d while production costs have fallen by $11/boe since 2019.
Exxon: Longer Laterals, Cube Well Design Lowering Permian Costs
Exxon Mobil is boosting spending to grow global oil and gas production by 18% by 2030. U.S. rival Chevron Corp. recently said it’s cutting spending in favor of free cash flow.
Are Shale Producers Getting Credit for Reining in Spending Frenzy?
An unusual reduction in producer hedging found in a Haynes and Boone survey suggests banks are newly open to negotiating credit terms, a signal of market rewards for E&P thrift.
Anschutz Explores Utah Mancos Shale Near Red-Hot Uinta Basin
Outside of the Uinta Basin’s core oil play, private E&P Anschutz Exploration is wildcatting in Utah’s deeper, liquids-rich Mancos shale bench, according to a Hart Energy analysis.