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This week was a gloomy week. Lets start with Oil price, we saw prices rise from $28 last week to $32/bbl at the begining of the week and have sustained the above $30 throughout the week.
Now we look at what the futures market is showing. The market is expecting natural gas prices (Henry Hub) to double, while oil price (WTI) is currently set to increase up just +$2/bbl into next year.
Drilling Activity
Click here to get access to rig activity by Operator. Companies like PDC, Noble and Birch Permian added rigs this week.
Completion Activity
Mergers & Acquisition
Centennial said it is terminating its Water Midstream deal with PE-backed Waterbridge Resources
Total said it is terminating its agreement to acquire Ghana's asset from Occidental
Capital Markets
Financings : Diamondback Raised $500 million this week in debt.
Company Distresss
Unit Corp, filed for Chapter 11 bankruptcy (the midstream assets were not a part of the filing)
Ultra Petroleum filed chapter 11 bankruptcy
A Large DJ Basin E&P missed it's interest payment, which is normally the first sign the company plans to file bankruptcy in the near future
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