Thursday, March 29, 2018

Active Rigs Hold Steady At 62 -- March 29, 2018

Updates

Later, 9:32 p.m. Central Time: this is why I love to blog. I thought someone would "call me" on my habit of calculating "deals" on a per-net-acre basis. It turns out I'm not the only one. See this post over at oilprice.com:
To be sure, investors were not exactly enthused by the deal, which amounted to a greater than $70,000 per-acre price tag.
Original Post
 
Permian consolidation. This may be the biggest news of the day in the shale sector: Permian oil producer to buy rival RSP Permian.
  • $8 billion; all stock deal
  • RSP:29% premium for shareholders
  • 92,000 net acres
  • will make Concho one of the biggest producers in the Bakken
  • Permian could report as much as 3 million bopd in March, 2018
  • back-of-the-envelope: $8 billion / 92,000 acres = $87,000 / acre 
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Back to the Bakken

Active rigs:

$64.323/29/201803/29/201703/29/201603/29/201503/29/2014
Active Rigs62493197194

RBN Energy: why $3 natural gas continues to elude the market.

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