Oklahoma Weekly O&G Report – 02/19/18

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Leasing

• We have a new player in the top 25 lessees this week: EOG. They recently acquired more than 15,000 gross acres in McClain county. This suggests a continued interest in the Woodford Formation.
• Look out for Cockerell Energy who is putting together a nice position with 70 new leases taken in that same area of McClain co.

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Spacing

• Cimarex, whose activity is focused in the STACK (in particular in Canadian County) takes the lead with the most spacing applications filed in the last 30 days.

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Pooling

• Calyx Energy has been actively filing poolings in the Arkoma Basin. We will want to monitor them closely as they continue to increase activity in Hughes and McIntosh counties.

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Intents

• Sandridge is the focus of this week’s intents; they are the leaders in the Mississippi Lime in Northern Oklahoma, particularly Major County.
• It will be important to closely monitor their activity as well as Midstates after hearing talks of a possible merger.

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Completions

• Of greatest note is the recent addition of filings by Newfield, who continues to focus their efforts in the SCOOP and STACK.
• Some of Newfield’s notable additions include the horizontal wells on the Rodenburg lease in Kingfisher County and the Holinsworth lease in Garvin County.

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Density

• Regarding increased density filings, Trinity Operating remains the number one operator with their activity focused on the Arkoma. They have filed for Horizontal wells to be drilled in the Woodford Formation.

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Transfers

• Transfers are highlighted by Mustang’s acquisition of 172 of Bravo Arkoma’s wells in southeast Oklahoma. This is the largest acquisition of the year to date.