Whiting Petroleum Corp., an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum Corp., two people familiar with the matter told Reuters.
A deal would increase Whiting's acreage in the second-largest U.S. shale field by output and spread its overhead costs over greater production, according to one of the people, who spoke on the condition of anonymity as the talks are not yet public.
The Scoop and Stack plays are still in the money but only with improved well spacing and effective management of frac-driven interactions.
Energy scholar Robert Bryce offers an unabashed view of the shale revolution, climate change and the future of energy. Spoiler alert: don’t expect oil and gas to disappear anytime soon.
The latest discovery was made by the Mako-1 well drilled about 10 km southeast of the Liza Field.