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FourPoint Acquires Assets
In 2012 Apache Corporation purchased Cordillera Energy Partners III, LLC. The Cordillera leadership team then formed FourPoint Energy, LLC. Now, “Rigzone” reports that FourPoint is purchasing 250,000 net acres, primarily in Roger Mills and Ellis Counties in Western Oklahoma from Chesapeake Energy. Included are 1,500 wells producing 21,500 barrels of oil equivalent per day from… Read More
Promise of the Wolfcamp Delaware
A recent article in “World Oil” cites a study by consulting group IHS projecting significant upside in the Permian Basin’s Wolfcamp Delaware play. In fact, the report states that the structure has the potential to sustain operators through the current period of depressed prices. However, in order to maintain profitability operators are currently “retreating to… Read More
Frontier Fracking Face-off
“Rigzone” reports that the U. S. Department of the Interior’s Bureau of Land Management introduced new fracking regulations in March. These would apply to approximately 700 million of acres of mineral rights with more than 100,000 oil and gas wells which produce 11% of the nation’s natural gas and 5% of our oil. Further, much… Read More
Iran and the Crude Export Ban
Lisa Murkowski (R-AK), is the leading advocate in the U. S. Senate for lifting the crude oil export ban. According to a recent article in “World Oil”, she has released a new report, “Cross-Currents: Iranian Oil and the U. S. Export Ban”, which contends that sanctions on Iranian oil exports should not be lifted without… Read More
WPX Adds Acreage
WPX Energy has bought 14,300 net acres in the San Juan Basin’s Gallup Oil Window for $26 million. The company now owns approximately 100,000 acres in the core of the New Mexico play and has already drilled 100 wells. The recent purchase is expected to provide the opportunity to drill that many more. The operator… Read More
