What's Working, What's Not & What's Next for Permian Producers
At ~$40 WTI, West Texas' Permian could very well be the last basin standing. With superior wellhead economics and a deep bench of productive formations, the Permian Basin has become a safe haven for many E&Ps. But even the nation's most prolific oil province is challenged by the current downturn.
Armed with efficiency-focused technologies and strategies, producers are digging deep to protect margins.
If your business is oil and gas in West Texas, you can't afford to miss this year's DUG Permian Basin conference and exhibition! Thousands of industry professionals are converging in Fort Worth to hear from the region's most-active producers and midstream operators. Don't miss this once-a-year chance to explore the latest strategies and technologies with 35+ senior-level speakers and 100+ exhibitors.
Plays covered: Wolfcamp, Spraberry, Bone Spring, Leonard, Avalon, and Yeso
EVP, Permian Operations Pioneer Natural Resources
Q: How is your company navigating today's market challenges and capitalizing on opportunities?
A: Pioneer has the largest Spraberry/Wolfcamp acreage position with decades of drilling inventory. We are well positioned to weather the current low commodity price environment with a strong balance sheet, strong derivatives positions to protect cash flow through 2016, and a capital program funded through 2017 with no incremental debt required.
In response to the outlook for continuing weak oil prices, Pioneer is reducing its horizontal drilling activity by 50% while still growing 2016 production and preserving the company's strong balance sheet and cash position. Our Permian team has realigned to meet the challenges of this downturn and position itself to be the strongest operation in the basin when commodity prices return.
Free Exhibit Hall Access for Operators
Hart Energy invites employees at E&P companies, pipeline operators, refineries and utility companies to enter the DUG Permian Basin exhibit hall at no cost. Plus, you have the option to upgrade to a full conference pass to attend the 15+ conference sessions.
To submit your qualifying application and register, click here.
J. Ross Craft
Founder, Chairman, President and CEO Approach Resources
Chairman Petrie Partners
President Three Rivers Operating Co. LLC
President Matador Resources
Senior Vice President - Permian Basin EnLink Midstream
Founder, President and CEO Silver Hill Energy Partners
Chairman of the Board Energy Security Council
Rimrock Resource Partners Buys 24,500 Net Acres In The Scoop Rimrock Resource Partners LLC closed a $150 million acquisition of Scoop assets in the Midcontinent—a region bubbling with A&D activity despite the downturn, the company said July 28.The acquisition covers about 24,500 net leasehold acres, 100% HBP, in Oklahoma’s Scoop Play. The acreage is located mainly in the Golden Trend, which is primarily in Garvin, McClain and Grady counties, Okla., in the Anadarko Basin. The seller was not disclosed.The acquired assets also include production of about 2,100 barrels of oil equivalent per day and 3,100 net mineral acres. The Midcontinent saw six deals of at least $100 million in second-quarter 2016.
Blackbird Energy Will Acquire Interest in Stage Completions Inc. Blackbird Energy Inc. will acquire an indirect 10% minority interest in Stage Completions Inc., a Canadian technology and services company providing pinpoint multistage completions, for CA$3 million cash purchase price. Blackbird said on July 28 that it entered an agreement for the acquisition.Stage’s technology, which it designs, owns, manufactures and patents, provides patented fracturing systems for sliding sleeve technology to the plug-and-perf market for horizontal, vertical, and multilateral wells in all formations.Stage’s proprietary dissolvable ball and collet activated fracturing sliding sleeve systems designed for cased-hole and openhole applications will reduce costs for operators, Blackbird said.