Gastar Exploration Inc. (ticker: GST) will divest its interest in the West Edmund Hunton Lime Unit (WEHLU) for $107.5 million. The transaction is expected to close on or before February 28, 2018, with a property sale effective date of October 1, 2017. Gastar received a deposit of 10% of the purchase price on January 25, 2018. WEHLU is primarily located
Panhandle Oil and Gas Inc. (ticker: PHX) is headquartered in Oklahoma City, Oklahoma. Panhandle has approximately 255,000 net acres of perpetually owned mineral rights spread across Arkansas, Oklahoma and Texas. Panhandle leases its properties to oil and gas operators and does not have the burden of paying to operate productive leases, but instead acts as a royalty interest holder. As
Samson Resources II, LLC has released its 2018 total capital budget with a range of $105 to $115 million. The capital program aims to increase production volumes by about 20%, compared to 2017 exit production rates. The company will spend $85 to $95 million toward its drilling and completion program and $20 million toward its leasing, seismic, recompletion and workover
Chaparral Energy, Inc. (ticker: CHPE) announced today that it has entered into a definitive purchase agreement to acquire acreage in Kingfisher County, Oklahoma, from a private seller for $60 million in cash, subject to customary post-closing adjustments. Highlights Acquiring 7,000 contiguous net acres in the core of the black-oil window of the STACK play in Kingfisher County The acreage is
LINN Energy, Inc. (ticker: LNGG) announced that it has signed a definitive agreement to sell its Oklahoma Waterflood and Texas Panhandle properties to an undisclosed buyer for a contract price of $122 million, subject to closing adjustments. The combined properties to be sold consist of approximately 179,000 net acres in Oklahoma and Texas with third quarter net production of approximately
EcoStim Energy Solutions: ~80% of revenue will be in the U.S. going forward; 2-year contract with YPF provides foundation for growth in Argentina At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with EcoStim Energy Solutions (ticker: ESES) President & CEO Chris Boswell. EcoStim had its first full year
Eco-Stim Energy Solutions Inc. (ticker: ESES), an oilfield service company focused on providing support to oil and gas operators while simultaneously reducing its environmental impact, has had a growth spurt in the past few months. A variety of services Eco-Stim offers pressure pumping services—which encompasses workover, injection, cased-hole testing, among other services—and coiled tubing services. In addition to the company’s
Devon Energy (ticker: DVN) announced July 11th that it had brought a record setting well to production. The well reached a 24-hour peak production rate of 6,000 BOEPD, 50% of which was oil. The record-setting well, called the Privott 17-H, produced out of the Meramec in the STACK play. The well’s initial production rate is the highest of any STACK
Founded in Oklahoma City in 1926, Panhandle Oil and Gas (ticker: PHX) boasts a foundation of 255,000 net acres of perpetually owned mineral rights spread primarily over Arkansas, Oklahoma, and Texas. Panhandle is in the position of holding large tracts of prospective acreage without operating that acreage. Instead, Panhandle allows large independent companies to lease and explore its holdings. Of
Oklahoma-centered Gastar Exploration Inc. (ticker: GST) has built its production portfolio primarily in the STACK play, where it holds 62,600 of its 89,600 net acres, spread across 5 core-zones. The company averaged approximately 5,700 BOEPD during Q1, 2017. Gastar’s STACK assets Gastar’s STACK assets are split between the Meramec, Osage, Oswego, and Hunton Limestone plays. The company estimates that approximately
Cheniere’s Midship open season ends March 30 Cheniere Energy’s (ticker: LNG) Midship Pipeline Company, LLC has signed agreements with foundation shippers to support construction of a 200 mile, 36-inch interstate natural gas pipeline project and has launched a binding open season for shippers—known as the Midship project. Cheniere said the commitments are from subsidiaries and/or affiliates of Cheniere, Devon Energy Corporation
Conventional wells, prolific areas, and low cost structure are the staples of Petro River: Brunner Petro River Oil’s President Stephen Brunner spoke to Oil & Gas 360®’s Angie Austin at the EnerCom conference in Denver last week. Brunner talked about the business strategy of Petro River, Oil prospects in Ireland, and a potential uplisting to NASDAQ. Petro River Oil Corp.
