CEO: Coterra Drops Last Marcellus Rig, May Halt Completions
Coterra halted Marcellus Shale drilling activity and may stop completions as Appalachia waits for stronger natural gas prices, CEO Tom Jorden said at an industry conference.
Non-op Rising: NOG’s O’Grady, Dirlam See Momentum in Co-purchase M&A
Non-operated specialist Northern Oil & Gas is going after larger acquisitions by teaming up with adept operating partners like SM Energy and Vital Energy. It’s helping bridge a capital gap in the upstream sector, say NOG executives Nick O’Grady and Adam Dirlam.
Go Long: Exxon, EOG Extend Permian Laterals, Lead US Onshore Drilling
When it comes to drilling in U.S. onshore basins, no other operators are drilling more than Exxon Mobil and EOG Resources, according to Enverus data.
Franklin Mountain Pulls Trigger on Gunbarrel’s 18-well Delaware Project
In August, Franklin Mountain Energy brought online its 18-well Gunbarrel project, targeting the Delaware Basin’s Third Bone Spring and Wolfcamp A, among other intervals.
Mach Taps Equity Markets to Fund $136MM in Midcontinent M&A
Mach Natural Resources is offering to sell common units to fund two pending acquisitions in the Ardmore and Anadarko basins.
TXO Partners Closes Williston Basin Acquisition for $296MM
MLP TXO Partners reported in regulatory filings that it had closed a 159,000 net acre acquisition in North Dakota and Montana for cash and units.
SandRidge Closes $144MM Western Anadarko Basin Acquisition
SandRidge Energy’s deal, with an undisclosed party, adds net production of 6,000 boe/d (40% oil) in Ellis and Roger Mills counties, Oklahoma.
Midcon Momentum: SCOOP/STACK Plays, New Zones Draw Interest
The past decade has been difficult for the Midcontinent, where E&Ps went bankrupt and pulled back drilling activity. But bountiful oil, gas and NGL resources remain untapped across the Anadarko, the SCOOP/STACK plays and emerging zones around the region.
Australian Shale Wildcatter Tamboran Spuds First 2-Well Beetaloo Pad
Tamboran investor Helmerich & Payne is drilling the 2-mile laterals, while fellow investor Liberty Energy has a frac fleet en route to complete the wells, Tamboran Resources reported.
ONEOK to Acquire Permian’s EnLink, Medallion Midstream for $5.9 Billion
ONEOK will acquire Global Infrastructure Partners’ interests in EnLink Midstream and Medallion Midstream, which add scale in the Permian, Midcontinent and Louisiana, in separate transactions valued at $5.9 billion.