Resolute Energy inks $160 million deal to expand in Delaware Basin. From Zacks:
- 4,600 net acres of undeveloped and producing property; Reeves County, TX
- half of this acreage is adjacent to the company's operating area in Reeves; produces 800 net boepd
- increases the company's holding in Reeves by almost 30% to 21,000 net acres
- $160 million / 4,600 net acres = $35,000 / acre
- investors start doubting oil rally after failure to top $55
- is a second OPEC cut in the cards? -- Oilprice
- North Korea fires four more missiles into "the" ocean over the weeeken
- the Drudge headline: "Dems smell blood in the water"
- Trump goes on a tweet ramp
- oil and reality (see above)
- Janet Yellen suggests she may move Fed rates a lot higher a lot faster
**********************************
Marathon's $2.2 Billion CAPEX For 2017
Of its $2.2 billion CAPEX, one-third will be spent in each of three plays mentioned above, or about $660 million in the Bakken.
For articles on MRO and re-fracking:
Marathon's $2.2 Billion CAPEX For 2017
Link over at Emergent Group.Data is broken out for MRO's involvement in three plays: SCOOP/STAC; Eagle Ford; and, the Bakken. For the Bakken:
In the Bakken, Marathon’s Maggie pad in Mountrail County, brought online in Q3, continues to lead the basin in 90-day production rates. Since December the company has mobilized four rigs to Mountrail and McKenzie Counties to support its development program.
Marathon is expanding on its 2016 Mountrail wells with enhanced completion designs that utilize 6–15 MMLBS of proppant with 45–50 stages. In Dunn County, the company is using slickwater with plug and perf technology and reports a >100% increase in proppant use as well as a >60% increase in stage count.A graph at the link suggests that MRO's production in the Bakken remained fairly flat from 4Q15 to 4Q16 but the number of new wells (gross wells/net working interest wells) dropped throughout the year, down to zero by 4Q16).
Of its $2.2 billion CAPEX, one-third will be spent in each of three plays mentioned above, or about $660 million in the Bakken.
In the Bakken, Marathon plans to focus on its highest-return areas, Mountrail and McKenzie Counties, where it completed several wells in 2016. The company will continue to focus on optimizing base production while bringing 70–75 gross company-operated wells to sales. Marathon expects to average approximately six drilling rigs in the Bakken in 2017.Unless I missed it, this particular article did not mention Marathon's re-frack program which has been mentioned elsewhere.
For articles on MRO and re-fracking:
- the future of fracking is re-fracking, Casey Research, February 17, 2015
- Marathon maintaining Bakken production through re-fracking, North American Shale Magazine, August 17, 2016
- the market has already moved on to re-fracking, Breaking Energy, July 7, 2015
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.