Ring Energy Brings Northwest Shelf Wells Online in Permian Basin
Ring Energy Inc. on June 16 provided...
Ring Energy Inc. on June 16 provided an update of its Northwest Shelf development program in the Permian Basin targeting Ring’s highest rate-of-return projects, according to the company.
In a company release, Ring Energy said it brought the Bevo 664 C #2H well online May 1. Next, the Bevo 664 A #4H well came online May 27 followed by the Bevo 664 A #3H well on May 30. Ring’s working interest in each of the three wells, all located in Yoakum County, Texas, is approximately 74%.
All three wells started producing oil within three to four days of coming online, which the company noted was encouraging in comparison to earlier wells drilled in the section. Source: Hart Energy.
Northern Oil and Gas, Inc. announces Core Permian Basin bolt-on acquisitions
Northern Oil and Gas, Inc., a firm based in Minnesota announced this week a more than $100 million move...
Northern Oil and Gas, Inc., a firm based in Minnesota announced this week a more than $100 million move to acquire more holdings in the Permian Basin.
The firm said it entered into three definitive agreements to acquire non-operated interests of nearly 2,900 net acres in the heart of Reeves County, Texas and in Lea and Eddy Counties of New Mexico. The combined purchase price was $102.2 million.
The world will triple liquefaction capacity if every proposed...
The world will triple liquefaction capacity if every proposed liquefied natural gas project comes online, but most LNG projects likely will not be built because of waning investor interest, according to an International Gas Union report. The report cites the toll the pandemic has taken on gas markets and the subsequent response from developers.
New TSA pipeline security directive in development
The Transportation Security Administration is preparing...
The Transportation Security Administration is preparing a second cybersecurity directive for pipeline companies in response to the Colonial Pipeline ransomware attack, TSA Assistant Administrator for Surface Operations Sonya Proctor announced. The new directive "will require more specific mitigation measures, and it will ultimately include more specific requirements with regard to assessments," Proctor said.
Energy stocks are set to open lower, tracking broader index futures, as equities continued to retrench...
Energy stocks are set to open lower, tracking broader index futures, as equities continued to retrench after the Federal Reserve sent a more hawkish tone at its latest meeting yesterday. Corporate news flow is light today.
Oil prices dipped, but losses were limited by a big drop in U.S. crude oil inventories. Data from the EIA showed that U.S. crude oil stockpiles in the world's biggest consumer dropped sharply last week as refineries boosted operations to their highest since January 2020, signaling a continued improvement in demand.
Natural gas futures were lower ahead of weekly inventory data, with analysts expecting a build of 73 bcf.
