Data presented below filtered to Previous 30 Days
A & D
Land Run Minerals V, LLC Is Formed
We are always excited to report when new investments are injected into the great State of Oklahoma. Land Run V, LLC was launched from the 89 Energy Platform and announced its initial acquisition, highlighted below.
Founded September 2022
July 1, 2022 Effective Date
Acquired Entities:
- Rumble Minerals, LLC
- Fortis Sooner Trend Minerals, LLC
- Sooner Trend Minerals, LLC
- FMII STM, LLC and
- Phenom Minerals, LLC
Asset Highlights at Close:
• 4,500 Boe/d of net production at close
• 55,000 net royalty acres (normalized to 1/8th),
primarily operated by Devon Energy (DVN),
Ovintiv (OVV), Marathon Oil (MRO),
Coterra Energy (CTRA), and
Continental Resources (CLR)
• 1,715 wells with an average
net revenue interest of 1.6%
• 5 active rigs on the asset
More Mineral News: Eckard Land & Acquisition continued their deployment of capital into the state, and had the 2nd most consideration recorded, following Land Run Minerals V, LLC.
Oil & Gas Leases: McClain, Grady, and Okfuskee were the 3 hottest counties for leasing activity.
- The Top Lessee in the state was Calyx Energy III which is targeting the Arkoma region, primarily Okfuskee county as noted above.
MORE A & D NEWS
ENCAP IS BACK
According to Reuters, “EnCap Investments is raising its first private equity fund in five years dedicated to oil and gas production.”
Below is a screenshot of EnCaps Upstream Portfolio from their website.
REGULATORY FILINGS
EOG Targets McClain County With Apps
EOG Resources is back in McClain County, targeting 07N-04W and 09N-04W.
- Personal side note, when I lived in Blanchard, our neighborhood was right next to the EOG Curry Well Pads and at night I liked to sit outside and look at the gas flare flame shooting into the sky…such a cool industry…so I always get excited seeing activity in the Blanchard/Newcastle area.
OCC Orders: Continental Resources filed orders in Blaine (31), Carter (21), Garvin (13), Grady (42), Murray (3), and Stephens (10).
Ovintiv USA Inc continued their focus mainly on the STACK, with Orders for Blaine (24), Canadian (32), Grady (18), Kingfisher (31), and McClain (1).
Citizen Energy III, LLC spread into some different counties, including Caddo (2), Canadian (6), Custer (11), Dewey (3), Grady (51), and Woods (4).
DRILLING
Devon Energy Leads Permits Filed
Devon Energy filed 13 permits in the past 30 days, 1 in Blaine County and 12 in Canadian County.
- Devon appears to be targeting the Mississippian/Woodford formations.
Permit counts have dropped from their year high in September.
- 65% of permits approved in the previous 30 days were Multi-Unit or Horizontal drill types.
- Kodiak Oil & Gas Inc had the most permits filed for drill types classified as Straight Hole.
Spud News: 71 Spuds occurred during the previous 30 days.
- Carter County had the most activity with 16 Spuds.
- Kodiak and Continental were the spud leaders, with each recording 7.
Completion News: Solid IPs once again from Continental!
Well Transfers: Transfers have drastically dropped, likely due to higher oil prices, meaning more economical to keep operating wells.
The biggest transfer was only 95 wells, which was between BCE-Mach (Old Operator) and Marvel Joseph Swan (New Operator)
DUCs: Map we made from our DUC data showing where Horizontal and Multi-Unit DUcs are located.
- As the map illustrates, DUCs are focused in the STACK & SCOOP regions.
THANKS FOR READING
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