Activity in the Fayetteville shale continues to heat up as the Arkansas Oil and Gas Commission reports more completions and 21 new permits.
The AOGC reports that eight new completions were reported for the week that ended Sept. 5: Southwestern Energy Co., three; Chesapeake Energy Corp., four; and Storm Cat Energy Corp., one.
The commission reports that initial production rates were given on four of the completions. Southwestern continues to complete what the AOGC calls “best in class” Fayetteville wells, with two initial production rates of 4.8 million cubic feet and 3.9 million cubic feet per day. Chesapeake reported an IP from one well of 1.7 million cubic feet per day and Storm Cat Energy, one report with a production rate of 1.6 million cubic feet per day.
A breakdown of the counties shows: one completion in Conway County; two each in Van Buren and Faulkner counties; and three in White County.
The commission also reported 21 new permits were issued.
Southwestern led the pack with 12 new permits with two each in Van Buren and Conway counties; three in White County; one in Faulkner County; and four in Cleburne County. Chesapeake came in second with four new permits, all in White County. XTO Energy Inc. had three new permits in White County and Petrohawk Energy Corp. had two new permits, both in Van Buren County. JAS
Recommended Reading
Marathon Oil Declares 1Q Dividend
2024-04-26 - Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
Energy Transfer Ups Quarterly Cash Distribution
2024-04-25 - Energy Transfer will increase its dividend by about 3%.
ProPetro Ups Share Repurchases by $100MM
2024-04-25 - ProPetro Holding Corp. is increasing its share repurchase program to a total of $200 million of common shares.
Baker Hughes Hikes Quarterly Dividend
2024-04-25 - Baker Hughes Co. increased its quarterly dividend by 11% year-over-year.