RECENT CONVEYANCES
Assignments, Minerals, & OGLs
Troy Energy, a newly formed, independent oil and gas acquisition, development, and exploration company based in Oklahoma City recently acquired some assets from Camino Natural Resources.
In addition to the assignments recorded, over 80 wells, as of now, were transferred from Camino to Troy; 60% classified as gas wells and 40% were classified as oil wells.
- The acquisition appears to be Camino’s Mid-Continent Hoxbar Development that Detring Energy Advisors was marketing in February. I’m not 100% for certain on that, but just glancing at the Detring teaser the acreage appears to line up.
- I’m excited to see a new company in OKC, especially one that is already transacting. Congratulations Troy Energy!
Minerals: Eckard Land & Acquisition continues to stand on the top step when it comes to the amount of consideration recorded.
- Behind Eckard were Timberwolf Minerals LLC and Milestone Oil & Gas LLC.
Oil & Gas Leases: Finally, leasing activity is on the rise! Over 1,500 tracts were leased during the previous 30 days.
- Some of slow down was obviously unfavorable prices and some of it might have been that a lot of the good acreage was already leased/HBP. Just happy to see an upward trend!
- Top Lessees were Continental Resources, Mewbourne Oil Co, Citizen Energy III LLC, Calyx Energy III LLC, and Pinson Land Services LLC.
REGULATORY FILINGS
Camino Targets Central Grady
Camino Natural Resources filed 77 Applications during the previous 30 days; Grady (73) and Canadian (4).
- Looks like Camino plans to drill some additional wells based on the Increased Density and Location Exceptions filed.
OCC Orders: Continental Resources had over 150 orders filed. The next closest was Calyx with 70.
- The map below shows the areas Continental is targeting.
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DRILLING
Conventional Wells Making a Comeback?
111 wells were permitted. 24% of permits for the previous 30 days were classified as Straight Holes. The remaining 4% were directional and 72% were Horizontal and/or multiunit.
Permit Leaders for all drill types:
Continental Resources (10)
Ovintiv USA Inc (9)
Camino Natural Resources (7)
CPRP Services LLC (7)
XTO Energy Inc (7)
Completion News: 7 wells were completed during the previous 30 days. None of the Completions were prior DUCs.
- Continental Resources (3)
- BCE-Mach III LLC (2)
- Reach Oil & Gas Co Inc (1)
- NEOK Production Co LLC (1)
Well Transfers: We touched base on the Camino to Troy transfer above. The other notable transfer that took place was between FDL Operating LLC and Citation Oil & Gas Corp; where FDL transferred over 200 wells to Citation.
- All of the wells are located in Pontotoc County, OK, as shown in the map below!
- Our Records & Production module allows you to view a Map of well spots and sticks!
ON THE MARKET
Providence Oil and Gas Corporation et al: SCOOP HBP Leasehold
- 320 Gross/245.46 Net HBP Leasehold
State of Oklahoma: Oil, Gas, and Helium Lease Sale
- 57 Tracts
- 4,799.83 Gross Acres/3,238.02 Net Acres
Red Sky Resources: SCOOP/MERGE STACK Non-Op Opportunity
- Bids have closed and PSA is anticipated to be executed by mid-June and closing by July 31, 2022. I’ve been eagerly waiting to see who acquires this asset!
Cibolo Energy Parners, LLC: ORRI properties located in the Mid-Continent
- Looks like we just missed this one; offers were due May 25th.
THANKS FOR READING
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