The inventory of DUCs continued to build this year as the COVID-19 pandemic slowed demand, but companies are now looking to complete wells given improved market conditions.
The transaction, expected to close in the fourth quarter, would make Southwestern the third largest producer in Appalachia.
TGS, a leading provider of multiclient geoscience data for E&P companies, on Aug. 12 announced a new multiclient U.S. onshore 3D seismic survey within the Powder River Basin called Voyager 3D.
Plans are for Schlumberger Land Rig 183 to drill to a depth of about 2,900 m, allowing Empire to evaluate the targeted Velkerri Shale and Kyalla Shale, the company said in a news release.
U.S. energy firms cut the number of oil and gas rigs over the past week to a record low for a 14th week even as higher oil prices prompt some producers to start drilling again.
Kansas, Oklahoma, Texas Dist. 7B, 7C, 8, 8A, 9, 10
Continental Resources, which shut 70% of its oil output when prices and fuel demand collapsed, said U.S. production growth will stay moderate unless oil reaches $50-$60/bbl.