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SCOOP / STACK Hitting Lull? Several Operators Shift Focus to Other Plays
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We took a look at the latest developments in the SCOOP / STACK for 2019.
Numerous E&Ps Cutting Mid-Con Spending, Ops for 2019Many operators are cutting SCOOP / STACK spending for the year in favor of other plays.
Cimarex is cutting MidCon spending by 57% while increasing Permian spending by 3%. Devon has hit its lowest rig count at its STACK asset in recent quarters - running only five currently (compared to 13 in Q1 2018). Instead, the company is doubling down on its Powder River Basin spending for 2019 Pure-play MidCon E&P Roan Resources is cutting activity across the board, including spending, rig and drilling activity Gulfport Energy has slashed spending by almost 30% YOY and is currently being pressured by shareholders to increase the company's valueConversely, Continental…
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