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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Active rigs:

$64.32→	3/29/2018	03/29/2017	03/29/2016	03/29/2015	03/29/2014
Active Rigs	62	49	31	97	194

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