After being battered by weak Permian gas prices, Approach Resources filed for Chapter 11 bankruptcy to explore strategic alternatives that include either a restructuring or the sale of its business.
Execs from private operators Caza Oil & Gas, Henry Resources and Zarvona Energy talk key to survival in the industry’s new hold-for-longer mode.
Output at the largest formation, the Permian Basin of Texas and New Mexico, is expected to rise 57,000 bbl/d to 4.73 MMbbl/d.
Hart Energy's exclusive rig counts measure drilling intensity. They exclude units classified as rigging up or rigging down, and also exclude rigs drilling injection wells, disposal wells or geothermal wells. They are designed to offer the most accurate picture of what is actually occurring in the field.
U.S. shale operators are paring down drilling programs and spending as they focus more on returns and improved efficiency in a low-price environment.
Arkansas, Louisiana, Mississippi and Texas RRC Dist. 1, 2, 3, 4., 5, 6, inland, offshore
Kansas, Oklahoma, Texas Dist. 7B, 7C, 8, 8A, 9, 10