Orion Diversified Holding Co. closed on its second deal in May and now holds 53,160 mineral acres in various plays including the Bakken, Eagle Ford Shale, SCOOP/STACK and Permian Basin.
Kolibri Global Energy Inc. drilled 1.5-mile lateral wells in the Oklahoma SCOOP's Lovina Field in less than 10.5 days on average, down from 14 days for earlier wells.
Orion, which holds 53,000 mineral acres in the Bakken, Permian Basin and other shale plays, said it’s also considering re-entering its Eagle Ford Shale assets.
Private operators are likely to let rigs go first, beginning in the Midcontinent and Powder River Basin, then the Eagle Ford, Bakken and Permian, according to J.P. Morgan Securities.
NGP-backed Camino Natural Resources, which had reportedly been seeking a $2 billion sale of its Midcontinent assets, has paused marketing the company, sources told Hart Energy.
Competition for gas supply will heat up as demand from data centers and new LNG projects jockey for a spot on takeaway lines.
The Midship Pipeline takes natural gas from the SCOOP/STACK plays to the Gulf Coast to feed demand in the Southeast.
With fewer acquisition targets, Enverus Intelligence Research said the quality of acquired inventory is declining, with breakevens averaging $50/bbl in 2024 versus $45/bbl in 2022 and 2023.
Midstream company Vivakor is building its network following the October acquisition of Endeavor Crude.
Orion Diversified Holding Co. is pursuing negotiations with several oil companies in the Permian Basin to acquire oil and gas assets, the company’s CEO said.