🔥New wells for Casillas Petroleum in McClain County
Two McClain County wells drilled on a single pad brought in more than 1,600 barrels...
Two McClain County wells drilled on a single pad brought in more than 1,600 barrels of oil combined for Casillas Petroleum Resource Partners, LLC.
Although the wells are now nearly 6-months old, the completion reports just filed in recent days by the Oklahoma energy company showed the Choate 0504 03-10-3wxh reported production of 1,084 barrels of oil a day and 1,125 Mcf of natural gas when completed in January of this year.
Located at 3 5N 4W, a site north of Lindsay, the well had a drilled depth of 18,355 feet. The well had a spud date in October of 2021 according to the completion report.
The second well, the Choate 0504 03-10-2mxh, was drilled at a depth of 18,026 feet on the same pad. Its spud date was also in October of last year per the completionreport.
US natural gas storage rises 77 Bcf to 1.567 Tcf spurring NYMEX futures rall
Chilly spring weather across much of the country curbed net injections to US natural gas storage...
Chilly spring weather across much of the country curbed net injections to US natural gas storage in the final week of April, helping to widen the inventory deficit and propel a rally in NYMEX gas futures.
The US Energy Information Administration May 5 reported a larger-than-expected injection of 77 Bcf to gas storage for the week ended April 29 in a build that barely undershot the prior five-year average.
The NYMEX Henry Hub June contract rebounded about 15 cents, or nearly 2%, after the storage report's release, rising to $8.30/MMBtu after falling steadily in overnight trading from fresh 14-year highs in the mid-$8/MMBtu range, As of Friday morning at 8:55 AM ET, the June contract was down 22 cents at $8.55/MMBtu.
US Fuel Prices Surge Faster than Crude as Exports Tighten Market
U.S. fuel prices have surged faster than crude oil prices in the last month, as the United States has...
U.S. fuel prices have surged faster than crude oil prices in the last month, as the United States has shipped more refined products abroad to supply European markets following Russia's invasion of Ukraine.
Traders say the world's stockpiles of fuel are not likely to increase quickly as big producers like OPEC, are increasing production slowly. The tightness in fuel markets is more alarming, they say because it shows refiners are having trouble meeting demand even as more crude becomes available through big reserve releases.
Devon Energy Corp., one of the biggest oil explorers in the Permian Basin,...
Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs.
The Oklahoma City-based company told investors of a new, so-called mobile frack-sand mine it launched on 15,000 acres of land it owns in the West Texas county of Loving. The mine is expected to save the shale giant more than $200,000 per well amid rising sand prices and can account for as much as a quarter of its sand needs in the Delaware half of the Permian Basin, Chief Operating Officer Clay Gaspar said on a conference call.
Devon said it’s also looking at expanding the mobile sand mines to the areas it operates in Wyoming and Oklahoma.
Shale producers maintain focus on returns after stellar Q1
Pioneer Natural Resources hiked its dividend after reporting better-than-expected first-quarter...
Pioneer Natural Resources hiked its dividend after reporting better-than-expected first-quarter earnings of $1.98 billion on Wednesday, up from $396 million a year earlier, while Chesapeake Energy launched a $1 billion share buyback program and raised its free cash flow guidance by $800 million. Continental Resources also saw profit increase from $278.9 million year-over-year to $960 million in the first quarter and projected full-year production between 200,000 and 210,000 barrels per day, up from 195,000 bpd to 205,000 bpd.
