No impact of rig-count reductions yet on crude production.
Without hedges, the company intends to cut 2015 capex by 73% until service costs fall.
Small cap and huge independents are ready to make deals as the market saps the strength of stressed companies.
‘The Anadarko Basin is not a five-minute story like other shale plays. It is more complex, but we like the optionality of either oil, gas or liquids, shallow and deep,’ said Four Point’s Brad Marvin.
From oil companies to scientific equipment makers, enforcement actions resulted in total corporate penalties of $1.57 billion in 2014 and averaged a record $156.6 million.
The shale gas company’s deal comes after executives have said they want to sells assets to reduce debt.
Transactions for D-J acreage double reserves, cash flow and production to 1,000 boe/d, enabling the company to become cash-flow positive.
Rosetta Resources lays out a plan to spend $350 million and produce 60,000 barrels of oil equivalent per day for 2015 and 2016.