U.S. hydraulic fracturing firm ProPetro Holding Corp. plans to run between seven to eight fleets this quarter, up from an average of four fleets in the second quarter, executives told investors on an earnings call on Aug. 5.
The company had averaged almost 19 fleets in the first quarter of this year, but saw a significant drop in activity after oil prices crashed amid the COVID-19 pandemic. The company on Aug. 5 said market conditions began to improve in June.
Whiting Petroleum, an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum, two people familiar with the matter told Reuters.
Here’s a snapshot of energy deals from the past week including Williams’ $3.8 billion JV in the Marcellus/Utica and a Delaware Basin bolt-on by Contango Oil & Gas.
323 Exploration retained EnergyNet for the sale of more than 12,000 net leasehold acres in West Texas through a sealed-bid offering.