Oil gains in the Permian, Powder River and Uinta basins are overshadowed by declines in aging basins, says Wood Mackenzie expert Robert Clarke.
Oklahoma’s finest Woodford Shale developers are applying their learnings to the Permian Basin, where exploration of the deep bench is in its earliest innings.
Prairie Operating Co. CFO Greg Patton says the company aspires to produce 100,000 bbl/d as it looks for its next M&A opportunity.
Matador Resources, coming off a $1.8 billion Delaware Basin acquisition, still has an appetite for more M&A focused on undeveloped acreage.
Despite a potential flattening of crude production, the natural gas pipeline network in the Permian Basin will keep filling up, according to executives from Kinetik Midstream, Brazos Midstream and Kinder Morgan.
Liberty Energy CEO Ron Gusek said that volatility will lead to some reductions in activity and companies can prepare now, but 2026 is murkier: “We’ll have to be ready.”
Service companies such as NOV and ChampionX, working with operators, are optimizing well designs to boost well productivity and ultimately lower costs as shale production growth slows.
BPX employs a strategy that’s “a little bit country, a little bit rock and roll” to maximize assets across the portfolio, especially in the Eagle Ford, says Shawn Holzhauser, vice president for development.
Continental Resources Founder Harold Hamm said Hess Corp.’s Bakken property is interesting, as well as property held by BP Plc’s Lower 48 E&P unit BPX Energy.
Brazos Midstream CEO Brad Iles said the time wasn’t right to sell a majority stake in the company.