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FREE Newsletter - Week Ending - August 10, 2018
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This was another big week for companies to report their 2Q 2018 updates and changes. Below is a what we captured this week.
Operators Increasing Wells, Frac and Capital in the Eagle Ford
Eagle Ford Operators are planning on increasing activity in the second half of the year.
Carrizo said it plans to redirect capital away from the Permian and into to the Eagle Ford. The company has revised up the number of wells it plans to drill and complete for the year as well as the capital budget.
Penn Virginia, now a pure play Eagle Ford operator, after reporting some recent impressive Eagle Ford wells, the company is also increasing capital budget and wells plans, aiming to drill and complete more wells in the remainder of the year.
EP Energy recently upped its 2018 capex as the company is focusing on EOR tests in the Eagle Ford.
Eagle ford Permit Activity does support that trend.
Exploration & Appraisals
- Operator to Spend $100 Million on the Louisiana Austin Chalk in 2018
- Operator Touts Significant Oil Discovery Off Western Australia-
Rig Activity / Drilling Activity for Week ending 8-10-2018
Mergers, Acquisitions, Partnerships
- Diamondback Energy Bolts-On Ajax Resources' Northern Midland Asset for $1.2 Billion in Cash/Stock ($900m in cash and $313 million in stock).
- A Delaware Basin operator armed with 21,000 net acres in the core is looking for a buyer.
- Bonanza Creek became a pure play DJ Basin company after selling its Arkansas/Mid-Con asset for $117MM.
- Much Ado About Nothing : Continental Resources formed a MidCon minerals partnership committing to spending $125 million per year.
Midstream Deals
- Two private equity-backed companies splurged by spending $2.6 billion to acquire midstream assets from Oxy.
- Apache and the folks at Kayne Anderson Acquisition formed a new midstream company to support the Alpine High development.
Deal flow has been boost by the BP acquisition of BHP onshore shale assets, which the company plans to acquire for $10.5 billion.
E&P / Operational Updates
Cost Inflation, Basin Differentials Drives Noble to Move Capital from Permian to DJ Basin
DJ Basin Operator Increased Wells Planned to 158 Wells In 2018
Operator To Spend $100 Million Louisiana Austin Chalk In 2018
Parsley Adds to 2018 Capex Plans; Transitions Back to Larger Well Pads
HighPoint's Wattenberg Midstream Woes Hamper 2018 Production
Extraction's Q2 Output Jumps +68% YOY; Extends Lateral Length
SM Energy Touts Record Setting Wolfcamp A Results; Increases CapEx
Newfield Ups Capex, Guidance for 2018; Boosts STACK Rig Count 18% from 1Q18
More Industry News News
Schlumberger Points to Structural Problems in Tight Oil
Relatively flat global oil production, and range-bound commodity prices, have started to put significant pressure on E&P profitability and free cash flow.
Wattenberg Drives Colorado Oil Production to 57 Year High
Oil production has reached its highest level since 1957, according to the COGCC’s initial calculation of total oil produced in 2012.
The Natural Gas Beast Cannot Be Tamed with 350 Rigs
EIA has released natural gas production for February and there is still no decline in sight for gas production.
Chesapeake Sues Cameron for Marcellus Shale Well Blowout
The suit involves Chesapeake Appalachia L.L.C. and Chesapeake Operating Inc. vs. Cameron International Corporation and was filed in the District Court of Oklahoma County, Oklahoma on April 16,…
TAG Commercializes Taranaki Assets; Talks Infrastructure
Together with TAG's existing production infrastructure and pipeline network, the Company now has the capacity to fully commercialize the successes (past and future) of its onshore Taranaki Basin…
Gulf Coast News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Apa Corp : Doing More With Less
APA's 2025 narrative was one of operational surprise. The company came in beating production guidance every single quarter while spending below plan, capturing over $300MM in cost savings…
Permian News
Permian Resources to Grow Production 6% in 2026
Permian Resources exited 2025 as the largest pure-play Delaware Basin operator with ~480,000 net acres and >105,000 net royalty acres. The company averaged 392.6 MBoe/d in 2025, including…
Battalion Oil Closes ~$60M West Quito Draw Asset Sale
Battalion Oil Corporation has closed the sale of its West Quito Draw assets in the Southern Delaware Basin to MCM Delaware Resources LLC, a subsidiary of MCM Energy…
Deal Rumor: ConocoPhillips Exploring $2B Permian Asset Sale
ConocoPhillips is reportedly exploring the potential sale of certain Permian Basin assets in a transaction valued at approximately $2 billion, according to Reuters, citing sources familiar with the…
An Eagle Ford Team That Cashed Out Is Back for Another Cycle
Houston — January 15, 2026 — Lime Rock Partners, a Houston-based private investment firm specializing in upstream oil and gas, has completed an equity commitment to Athena Energy…
Silver Hill Expands South Texas Footprint with Acquisition of 1776 Energy Assets
Silver Hill Energy Partners has acquired 100 percent of 1776 Energy’s South Texas oil and gas assets, significantly expanding its operated footprint across the Eagle Ford and Austin…