Freeport-McMoran Oil & Gas Inc. controls millions of acres in Texas, California, Louisiana and Africa, but low oil prices have stifled investment and will hurt growth.
Logistical headaches created by road closures, safety precautions and the general difficulty operating in inclement weather hold the potential to buffet production volumes in the D-J Basin.
Data from the EIA’s latest drilling production report projected about 16 MMcf/d will be produced in the Marcellus alone in July, up from about 15 MMcf/d in July 2014.
Diamondback has its critics, but the company continues to defy expectations with deals, upped production and costs low enough to boast a $30 WTI breakeven.
The company plans to use the same concepts it developed in the D-J Basin for its newly acquired positions, in particular the roughly 56,000 net acres in the Midland and Delaware basins.
The company is working feverishly to cut costs, and an analyst says the company may seek more acreage deals in the San Juan Gallup oil play.
Energy independence misconceptions include: it benefits consumers, could isolate U.S. from market and price volatility, could halt U.S. involvement in Middle East. Another is oil-terrorism link, journalist Robert Bryce said.
Appalachian operator Rex Energy drifts higher above debt concerns but needs to sell off more assets to cover overspending in the next few years.