Citizen Energy CEO Greg Augsburger loves the Anadarko Basin but is unconvinced by the ‘in vogue’ pure-play trend, preferring to chase rocks that give the best results.
Fieldwood Energy will purchase Noble’s GoM assets in a deal valued at $710 million, including $480 million in cash and $230 million in assumed liabilities.
At the recent NAPE Global Business Conference, panelists from Hess and Akin Gump gave insight on what plays into developing resources in the Lower 48 or international deepwater.
The company said it plans to spend $3.9 billion overall in 2018 and increase production by between 8% and 12% with a 40% annual growth in Permian resources in 2018.
WPX CEO Rick Muncrief discusses the differences between its San Juan and Delaware basin assets and highlights the role of the Permian, where the company has more than 120,000 net acres.
Drillers added seven oil rigs in the week to Feb. 16, bringing the total count up to 798, the highest level since April 2015, Baker Hughes, a GE company, said in its weekly report.
The U.S. rig count, an early indicator of future output, is much higher than a year ago when 591 rigs were active as energy companies have continued to boost spending since mid-2016 when crude prices began recovering from a two-year crash.
The total rig count rose to 752 in the week to Jan. 12, the most since September, Baker Hughes, a GE company, said in its weekly report.
The U.S. rig count, an early indicator of future output, is much higher than a year ago when only 529 rigs were active.