Topic: Drilling Permits

Concho Resources Extends Permian Reach with $1.62B Acquisition

Concho Resources (NYSE: CXO) is an independent pure play operator focusing in on the Permian Basin. More specifically they operate in the Delaware Basin and Midland Basins, recently acquiring more acreage in the Midland area. CXO is expecting to spend $1.2 billion during the 2016 having already depleted $572 million or 52% during the first two quarters. The company has focused in on reducing operating cost looking to reduce the transportation costs associated with water disposal volumes by using pipelines...

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Haynesville DUC Count Declines through 2015 and 2016

In the last piece on uncompleted wells explored North Dakota showing the impacts and trends that the uncompleted wells have on the market. Now how does one figure out the number of uncompleted wells without over or under counting? This article will show the approach of the DUC analysis by using the Haynesville play highlighting some of the difficulties and uses of this data. The chart below shows a glimpse of the outcome of this analysis and where the DUC...

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Haynesville Permits Drop -25% Y-o-Y

Activity in the Haynesville slowed as U.S. independent operators have moved to core plays with better returns at current prices. Operators like Comstock and EXCO have looked to the Haynesville to start refrac programs that show promise of higher returns. Read more about our Haynesvill Refrac  In-Depth Series.Permit activity shrinks -25% from one year ago In the Haynesville, new drilling permit activity has decreased -25% from January of 2015 to January of 2016 and -61% from 2014. So far in 2016,...

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Midstates Drilling Efficiencies Lead to Lower Rig Count and Well Costs in MidCon

Midstates Petroleum (NYSE: MPO) has focused operations in the Mississippian Lime during the 2015 year. They have focused on reducing well costs through drilling efficiencies and working with suppliers. Production is expected to remain flat into 2016 as the number of completions shrink. The chart below shows the number of permits and completions by month in Oklahoma for MPO.  Mississippian Lime: Reduced rig count due to realized drilling efficienciesWells generating IRR’s of greater then 35% at current well costs Reduced drilling cycle...

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EOG Resources Poised for Long Term Success

One of the largest independent exploration and production companies in the United States, EOG Resources (NYSE: EOG), is an operator that many look to in the current environment to model their well designs and cost saving techniques. The operator is seeing similar returns in parts of the Eagle Ford as they were in 2012 with oil being $35 dollars less and has more then doubled returns in the Permian at $60 compared to $95 in 2012.EOG Resources's  capital plan of $4.7 to...

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Haynesville Permits Increase 81% in September Over August Activity

During the month of September there were 67 permits issued in the Haynesville. This was almost doubled compared to August which had 37 permits issued and closed the month out with 26 rigs running according the the BHI land rig count. At this time last year, there were 15 permits and 43 rigs in the Haynesville.The top permitting county this past week was Red River which issued 2 permits to Vine Oil & Gas. The most active week in September was...

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Permian: Midland & Crockett are Top Counties for Drilling Permits

The week of July 17th drilling permit activity was down -34%, with 65 permits issued. The top counties were Midland and Crockett. Both counties had 0 permits issued the week prior. Rig activity in the Permian showed positive signs, with rigs increasing +3 this week.The chart below shows the decline in activity this year compared to the same week at this time last year, which had 235 permits during the week. Core Permian Counties The top 5 permitting counties from last week (2015-07-10), which include Reeves, Lea,...

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Eaglebine: Anadarko Completing Wells & Improving Performance

The concentration this week is in the Eaglebine area in East Texas, which includes the counties of Brazos, Burleson, Grimes, Houston, Lee, Leon, Madison, Milam, Robertson, and Walker. In the month of May, there were a total of 26 permits issued, with top permitting counties being Madison, with 8, and Burleson, with 5. There were 0 permits issued during the first week of June, although activity resumed this past week with 6 total permits. 2 of those were in Milam and...

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