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Oil & Gas News Weekly - Week Ending 3/15/2019
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Here are the top items from our weekly news round up (week ending 3/15/2019).
M&A
Noble said its sold 13,000 net acres in Reeves county for...
New Companies/Startups
Drilling/Rig Activity
This week we take a look at who is increasing or reducing rigs.
Earlier this week we were asked by a few clients who is responsible for most of the rig reductions
As you can see, Private operators accounted for 30% of the rig market back during the peak (August 2018) and that number has now been reduced to 24%. Private Equity backed companies have stayed flat ~17% and Public E&Ps now account for 59% rig / drilling market.
A Look at the Top Drillers
Rigs by Company (Top Drillers)
Rigs By Region
Completion / Frac Activity
Shale Experts Frac & Completions Database is tracking 410 active frac fleets down -3 from last week, with 1 fleets added in the Eagle ford. We continue to believe that the we will peak in the 3rd quarter of 2019 at 430 fleets.
Capital Markets/Financing
CNX Resources, Kosmos, Centennial and Husky have all decided to approach the debt market with public and private offerings.
More financing/capital markets
Drilling & Completions
Tuscaloosa Marine Shale : After a successful Tuscaloosa Marine Shale 2018 drilling program, E&P to increase 2019 program to 10 wells.
Chevron Drills its Best Spraberry Well to Date; Flows 3,200 Bopd
Halcon Talks 2019; Production Growth despite CapEx Cut
Northern Oil IDs 2019 Capex; Spending Flat; Production Up +37%
Well Results / Well Performance
Source : Shale Experts Presentation Database
Sandrige say's its spacing test in the North Park Niobrara is outperforming its Type Curve.
Source : Shale Experts Presentation Database
Centennial Resources drills its best wells in Northern Delaware Basin to date. The wells are focused on the Avalon, 1st and 2nd Bone Springs.
Source : Shale Experts Presentation Database
Comstock, talks Gen III Haynesville shale wells outperforming.
Source : Shale Experts Presentation Database
Jagged Peak continues to improve its Wolfcamp A wells, newer wells in 2018 is outperforming the 2017 type curve.
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