Hefner Energy Closes SCOOP Non-Op Divestiture

PetroVen, Inc. of Dallas, Texas, exclusively advised by Hefner Energy, has closed on the divestiture of 1,600 non-operated working interest acres in the heart of the SCOOP condensate window to an undisclosed buyer. 

Given the bid-ask spread, and volatility in the marketplace with oil prices in a downward spiral, PetroVen and Hefner Energy were both happy with the results. 

Oil & Gas Investor: A Giant in its own Right

article by Darren Barbee, Hart Energy

Oklahoma is something of a sleeper in shale oil and gas world.

The vaunted oil and gas plays of Texas and North Dakota cast long shadows—long enough sometimes to obscure entire states.  Yet Oklahoma’s varied mix of oil and natural gas is impressive.

Oklahoma is one of the top five oil-producing states, and three of the nation’s largest oil fields are found there. The state also produced more natural gas than the output of Louisiana, Wyoming or New Mexico from July 2014 to July 2015, according to Barclays Capital Inc. statistics.

In September, oil and gas consulting services Rystad Energy added complete data for all horizontal shale wells in Oklahoma into its shale well database (NASWellData). The data show that Oklahoma’s volume of U.S. shale light oil output has consistently improved during the past several years.

That’s partly shown by continued deal activity in Oklahoma. FourPoint Energy LLC paid $840 million for Chesapeake Energy Corp.’s (NYSE: CHK) interests in the Anadarko Basin, the fifth largest E&P transaction in 2015. FourPoint purchased interests in about 1,500 producing wells and more than a quarter-million acres.

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Oil & Gas Investor: Central Anadarko Upswing

article by Steve Toon, Hart Energy

The central Oklahoma Anadarko Basin might be held by a select few operators, but what a lucky bunch they are. Or give them credit for foresight. In this storm of weak commodity prices, economics in the Woodford, Scoop and Stack resource plays are holding up against the gale.

All oil plays compared, Heikkinen Energy Advisors puts the Cana/Scoop at the top economically, with a $30 breakeven price based on $50 oil and $3 gas. The Cana Woodford is the sole basin in the Baker Hughes rig count to show an increase in rigs year-over-year as of the end of August, with 40 rigs active now, vs. 34 in 2014. And that number is projected to increase.

Coming out of second-quarter reporting, operators in these central Oklahoma plays revealed why they are accelerating where others are pressing the brakes. Oil and Gas Investor surveyed recent results and strategies of select operators.