A & D
Mach Continues to Expand
BCE-Mach III LLC is listed as a leader in our Recent Assignments and Recent Transfers Modules, acquiring hundreds of tracts and wells from Camino Natural Resources LLC. More on the well transfers in our Drilling section below.
- BCE-Mach’s acquisitions have been impressive. Awesome to see an Oklahoma company continuing to invest in this great state! Congrats to the BCE-Mach Team!
- Per Mach’s website, “Over the last year, BCE-MACH has closed six acquisitions investing in excess of $200mm.” I do not believe the Camino and BCE-Mach deal above is counted in these totals.
Minerals: Once again Eckard Land & Acquisition leads the way for Total MD Consideration recorded, followed by L3 Resources LLC and Black Hawk Royalty V LP.
Oil & Gas Leases: The two hottest counties for leasing activity were Grady and McClain.
- The Top Lessees in these two counties were Capstone Land Co, Citizen Energy III, and Anevay Resources LLC.
- The below map shows the areas that were leased in the two counties during the previous 30 days.
REGULATORY FILINGS
Cimarex (now Coterra) is Back on Top
Cimarex and Cabot Oil & Gas merged in October 2021 to form Coterra Energy.
- Cimarex topped the applicant leader board of OCC Applications, followed by Continental Resources, Citizen Energy III, Paloma Partners IV, and Charter Oak Production Co.
- All of Cimarex’s recent regulatory filings are located in Western and Southern Canadian County, where Coterra has a dense footprint.
- The below map is from Coterra’s 2Q22 Earnings Conference Call and it provides a good illustration of where their acreage is concentrated.
OCC Orders: Like leasing and applications noted above, the majority of OCC Orders were located in what most would consider the SCOOP and STACK.
The top 3 Order Applicants were Citizen Energy III, Devon Energy Production Co. LP, and Continental Resources.
- Speaking of Continental, it was announced last week that Doug Lawler was promoted to President and Chief Operating Officer.
- Prior to Continental, Doug was President & CEO and served on the board of directors of Chesapeake Energy Corporation
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- Apps
- Orders
- Permits
- Completions
- Transfers
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DRILLING
Calyx Energy Completes 4 Wells With Strong IPs
The above Calyx Energy wells are located in Pittsburg County, OK. Congrats to the Calyx Energy team on these strong IP rates. With more favorable gas prices, I expect the Arkoma region to have a lot of interest in the near future.
Permit News: 124 Permits were filed during the previous 30 days.
- Multi-Unit & Horizontal Wells accounted for over 60% of wells permitted.
- The Mississippian Formation was the primary target for the permits.
- Permit leaders across all drill types were HInkle Oil & Gas (8), Citizen Energy III (7), Rimrock Resource Operating (7), and Continental Resources Inc (6).
Spud News: 59 Spuds were filed during the previous 30 days.
- Canadian County had the most activity with 9 Spuds
- Citizen Energy III led the way with 10 Spuds
- 7 in Canadian County and 3 in Grady County.
Well Transfers: As noted above, Camino Natural Resources LLC transferred over 200 Wells to BCE-Mach III LLC in the past 30 days.
- 72% of the wells are classified as “Gas.”
- 91 of these wells are located in Grady County, OK
- With our Records & Production Module, you can view the well spots on a map!
OTHER CONVEY640 NEWS
- We just released a new module, AOI Advisor, which improves the speed at which mineral and non-op companies can analyze deals. Learn more about this time-saving feature here.
- New How-To…Narrow Down Your Buy Area in 5 Easy Steps
- New Blog…5 Ways Mineral & Non-Op Companies Can Buy Ahead of the Drill Bit
THANKS FOR READING
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