Similar to another acquisition made by Laredo Petroleum in the Permian Basin earlier this quarter, the bolt-on in Glasscock County, Texas, continues to shift the company’s production mix toward oil.
Alaska North Slope oil production has slipped below 500,000 barrels per day and will decline further in coming years, according to the latest forecast released by the state Department of Revenue.
Increased stage spacing and proppant loading plus use of 100-mesh sand have proven favorable for Gulfport in the Scoop.
Lilis Energy is below compliance with the NYSE American stock exchange’s continued listing standards because its stock has been selling for “a low price per share for a substantial period of time.”
Jones Energy, which entered bankruptcy with $1 billion in debt in April, agreed to an all-cash deal for its Anadarko Basin assets.
Tullow Oil on Dec. 9 said its CEO Paul McDade has resigned and the oil and gas explorer also scrapped its dividends, as it continues to face issues at its fields in Ghana.
Mexican state oil company Pemex said on Dec. 6 it has discovered a deposit in southeastern Mexico that could yield 500 million barrels of crude, calling it the largest such finding in more than 30 years.
The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position and 12,000 boe/d of production that is expected to more than double through 2020.
Saudi with OPEC peers and allies led by Russia backed a plan that could see cuts of as much as 2.1 million barrels per day (MMbbl/d), Saudi Energy Minister Prince Abdulaziz bin Salman said.