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• 'Permania' has cooled; acquisition opportunities remain
  "Permania" has cooled and prices being paid for oil and gas acreage have fallen from levels that generated...
  "Permania" has cooled and prices being paid for oil and gas acreage have fallen from levels that generated international headlines. However, the recent Occidental-Chevron tussle over buying Anadarko has raised questions about future deals and how Permian acreage is currently being valued.
  
  "We saw people paying upwards of $50,000 an acre; now it's about $15,000 an acre," said Andrew Dittmar, senior analyst with Drillinginfo, in a phone interview.
  
  Today, "The Big 3" operators – Concho Resources, Diamondback Energy and Pioneer Natural Resources – top acreage valuation, with each averaging more than $20,000 per acre. Diamondback leads with valuations of a little more than $22,000 per acre.
  
  On average, Delaware Basin wells are more productive and outperform Midland Basin wells, said Krolczyk.
  
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• New Mexico could see $1.3B from oil windfall
  New Mexico could be getting more than a billion dollars in tax revenue next year thanks...
  New Mexico could be getting more than a billion dollars in tax revenue next year thanks to the oil boom.
  
  According to the Santa Fe New Mexican, State Senate Finance Committee Chairman John Arthur Smith explained to an interim legislative transportation subcommittee that the state is on track to rake in anywhere from $1.1 to $1.3 billion in 2020 unless the international scene changes. Crude oil prices dropped earlier this week to less than $50 per barrel, which is due in part to fears of a trade war with China.
  
  However, late in the week oil prices jumped to over $52 a barrel.
  
  
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• ConocoPhillips gears up for heavy round of Eagle Ford projects
  Oil giant ConocoPhillips is gearing up for a large round of horizontal drilling on three...
  Oil giant ConocoPhillips is gearing up for a large round of horizontal drilling on three leases in the Eagle Ford Shale of South Texas.
  
  The company’s subsidiary, Burlington Resources, is seeking permission from the Railroad Commission of Texas to drill 13 wells in oil-rich DeWitt and Karnes counties. ConoocoPhillips plans to drill 10 horizontal wells divided between its J Rossett and Mumme-Schendel-Maron lease in DeWitt County and three more on its Korth Vickers lease in neighboring Karnes County.
  
  The wells target the Eagleville field of the Eagle Ford geological layer at total depth of 17,000 feet. So far this year, ConocoPhillips has filed for 80 drilling permits — all of them for projects in South Texas.
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• Roan Resources Provides Updates
  Roan Resources, Inc. (ROAN) recently announced it is positively updating guidance for the second quarter...
  Roan Resources, Inc. (ROAN) recently announced it is positively updating guidance for the second quarter of 2019.
  
  Specifically, the Company anticipates second-quarter production to exceed 50 thousand barrels of oil equivalent (MBoe) per day, which compares to adjusted guidance of approximately 49 MBoe/d, when accounting for ethane rejection(1).
  
  Additionally, due to drilling and completion costs continuing to trend lower, the Company is projecting CAPEX to come in approximately 10% below original second quarter guidance of $155 million.
  
  The Mad Play unit in Canadian County, along with the Mayes wells from the Earl (Candian County) and Victory Slide (Grady County) units, continue to be strong producing wells. Updated results for these wells are as follows:
  
  4-well Mad Play unit had an average per well 30-day IP rate of 1,602 Boe/d (44% oil, 20% NGLs, 36% gas) from a normalized 10,000-foot lateral
  3 Mayes wells from the Earl unit had an average per well 30-day IP of 1,466 Boe/d (39% oil, 24% NGLs, 37% gas) from a normalized 10,000-foot lateral
  2 Mayes wells from the Victory Slide pad had an average per well 30-day IP rate of 1,109 Boe/d (71% oil, 14% NGLs, 15% gas) from a normalized 10,000-foot lateral
  
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• Northeast needs new pipelines to meet increasing LNG demand
  Increased demand spurred by new liquefaction terminals will increase the need for new pipelines in the...
  Increased demand spurred by new liquefaction terminals will increase the need for new pipelines in the Northeast, a region where it is often difficult to increase capacity, industry leaders heard at an LDC Gas Forums conference in Boston. "We may have technology that far outweighs our ability to use it," says Pat McKinnon, an associate with Euler Hermes Energy.
  
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