Exxon Mobil’s latest find offshore Guyana and three extended-reach, horizontal producers completed by Gulfport Energy from a Grady County pad in Oklahoma top this week’s drilling activity highlights from around the world.
Similar to its peers in the service sector, Basic Energy Services has made moves over the past several months to protect its balance sheet as oil and gas operators slam the brakes on activity.
Northern Oil & Gas has been trying to cut its debt load of more than $1 billion for months by using a so-called "debt-for-equity" swap among other things.
As of May 20, the total U.S. rig count is down 28 from last week with the Permian Basin leading the declines with a drop of 17 rigs.
The bust has erased tens of thousands of jobs in the drilling and service sectors, dried up local tax revenues and charitable largess that flowed along with crude oil to Texas, North Dakota and Oklahoma.
U.S. tight rock oil production exceeded 9 million barrels per day in March, according to the U.S. Energy Information Administration. The story began 20 years ago in Richland County, Mont., with a prospector, two wildcatters, Halliburton and a bold venture: land a lateral in the middle Bakken—and frac it.
We have to bet on pent-up demand. The recovery appears to be ‘V-shaped’ in most markets. We hope to see that in the energy world as well.
Here’s a quicklist of oil and gas assets on the market including a package of royalty interests located in Northern Oklahoma and Southern Kansas as part of a planned dissolution of the SandRidge Mississippian Trust II.
Continental argued at a hearing that operators are hurting even though state production is down more than half a million barrels per day since prices crashed in March.