Central Basin Platform
Public Capital , Exploration & Production
Permian Operator Ring Energy Moves Headquarters to Greater Houston Area
Effective Jan. 19, Ring Energy’s corporate headquarters will be located in The Woodlands, Texas. Additionally, the Permian operator closed its Andrews, Texas field office, downsized its Midland office and plans to close its Tulsa, Okla. office.
Public Capital , People , Exploration & Production , Shale Plays
Ring Energy President David Fowler, COO Danny Wilson Leave Executive Team
The announcement of President David Fowler and COO Danny Willson’s departure from Ring Energy also included several promotions to the company’s management team.
Public Capital , Exploration & Production , Shale Plays , Acquisitions & Divestitures
Contango Oil & Gas Snags Oily, Low-decline Assets in $58 Million Deal
Contango Oil & Gas agreed to pay $58 million in cash for the acquisition of PDP heavy reserves located in in the Big Horn, Permian and Powder River basins made via a bank-owned liquidation of assets.
Lease Sales
On the Market Oil and Gas Quicklist (Week of Dec. 2, 2020)
Here’s a quicklist of oil and gas assets on the market including multiple Ascent Resources packages in the core of the Utica Shale in Ohio plus royalty acreage operated by Endeavor Energy Resources in the Permian Basin.
Lease Sales
On the Market Oil and Gas Quicklist (Week of Nov. 11, 2020)
Here’s a quicklist of oil and gas assets on the market including a package of operated Oklahoma assets in Ellis County from Kaiser-Francis Oil plus Winfield Resources’ horizontal Marcellus wellbore-only interests in Pennsylvania.
Lease Sales
Marketed: Four Corners Central Basin Platform Asset Packages
Four Corners Petroleum II LLC retained Detring Energy Advisors to market for sale Central Basin Platform asset packages within the Permian.
Public Capital , People , Exploration & Production
Ring Energy Appoints Industry Veteran Paul McKinney as CEO
The leadership change was driven by the board’s discouragement toward Ring Energy’s current stock price and the “apparent lack of understanding and appreciation for the value this company represents,” Co-founder and Chairman Tim Rochford says.
Lease Sales
Marketed: Legacy Reserves Permian Acquisition Opportunity
Legacy Reserves retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale certain operated and nonoperated properties located in the Permian Basin.
Company Profiles , Exploration & Production , Acquisitions & Divestitures
E&P Company Turnaround: Rebuilding Pedevco
In a time of industry stress and uncertain recovery, it may be hard to find a few good stories, but restructuring to emerge as a roll-up vehicle is one way forward.
Unconventional , Natural Gas , Crude Oil , Shale Plays
Why US Shale Production Declines Are Higher Than You Might Think
The natural decline rates of existing oil and gas wells across major shale plays in the U.S. will contribute to a tighter supply/demand balance.