oil & gas assets

MidContinent Scout

Serving the local market with drilling activities, permits & multiple listings

MidContinent Scout
PLS's MidContinent Scout covers regional drilling, discoveries and developments in Oklahoma, Texas Panhandle, (RRC 10), North Texas (RRC 7B & 9), Kansas and Nebraska. The report also covers permit stats, completions and P&A activity, as well as describing business opportunities listed for sale in the Woodford, Mississippi Lime, Barnett, Granite Wash, Eastern Niobrara and the region's historically productive conventional plays

  • Stay in front of local prospects, plays & rigs!
  • Oklahoma, Kansas, Nebraska, TX Panhandle, North Texas
  • Hard Copy and Email For 1 Individual
  • Every 2 Weeks (22-25 issues per year)
  • Regional discoveries, drilling activity, permits, completions and summary drilling statistics, layered with regional listings and business opportunities
  • Web access to the MidContinent Scout archive
  • Does not include access to MLS

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News Date
MSC - Revolution delivers its best IP24 yet in the Hunton - March 25,2020
Revolution Resources completed a high-oil-cut well in the Hunton formation in Oklahoma County, Oklahoma. The Tormund 1404 32-09 #1BH was drilled with a lateral stretching more than 13,000 ft and produced an initial 24-hour rate of 846 boe/d (79% oil). This is the highest IP24 test rate for the company, which until recently focused exclusively on the Hunton. Revolution was formed in 2018 and is backed by private equity firm Mountain Capital Partners. The company has amassed a highly...
Mar 25, 2020
MCS - Unit grows oil volumes, lacks future drilling inventory - March 25, 2020
In an effort to increase the oil weighting of its production, Unit Corp. completed 14 wells in western Oklahoma during 2019 targeting the Marchand shale in the company’s Southern Oklahoma Hoxbar Oil Trend and the Red Fork farther north. These wells met or exceeded expectations and helped to increase oil volumes 15% YOY in Q4 to 9,423 bo/d. Total output was 273.9 MMcfe/d (21% oil, 27% NGLs) compared to 280.4 MMcfe/d (18% oil, 28% NGLs) in 4Q18. Unit converted 39 PUD locations into PD...
Mar 25, 2020
MCS - Regional Highlights - March 25, 2020
The US Energy Information Administration projects that Anadarko Basin production will fall by 10,000 bo/d and 143 MMcf/d sequentially in April to 517,000 bo/d and 7.198 Bcf/d. There are 703 DUCs in the Anadarko Basin as of February, down by 49 from...
Mar 25, 2020
MCS - Continental Resources Highlights - March 25, 2020
Continental Resources is drastically scaling back its D&C activity in response to the low-price environment. The company will reduce its active rig count in the Bakken to three from nine and go from 10.5 rigs in Oklahoma to an average of four in 2020. Capital spending plans were shrunk by 55% from $2.65 billion to $1.20 billion. The revised budget would result in average 2020 production falling less than 5% YOY; 2019 production was 340,395 boe/d. At $30/bbl oil, Continental expects to be cash...
Mar 25, 2020
MCS - Devon Energy Highlights - March 25, 2020
Devon Energy slashed $500 million from its 2020 capex plans and now has guidance set at $1.3 billion. While the $500 million reduction will be spread across its operational areas, the STACK in Oklahoma and the Powder River Basin will see the most substantial cuts. Development activity will be focused on the economic core of its top-tier Delaware Basin and Eagle Ford...
Mar 25, 2020
MCS - Ovintiv Highlights - March 25, 2020
Ovintiv is immediately dropping 10 rigs and will stack an additional six in May. Following these reductions, it will be operating three in the Permian, two in the Anadarko Basin and two in Canada’s...
Mar 25, 2020
MCS - Amplify Energy Highlights - March 25, 2020
Amplify Energy announced a reduction in 2020 capex by 37%, or $17 million, to $29 million at midpoint, with most of the expenditures coming in Q1. The company has also initiated several additional cost reduction projects that will materially reduce LOE and G&A and positively impact free cash flow. Amplify, the successor to Memorial Production Partners, merged with Midstates Petroleum in May in a deal valued at $512.4...
Mar 25, 2020
MCS - Continental to internalize price volatility unhedged - March 11, 2020
Over the last three years, Continental Resources has generated $1.4 billion in free cash flow, including $608 million in 2019. The company has paid down $1 billion in debt and repurchased more than $200 million in shares. Prior to the price rout in early March, the company announced 2020 capital spending that would be flat YOY at $2.65 billion, generate $350-400 million in free cash flow, assuming $55/bbl WTI and $2.50/MMbtu Henry Hub, and grow production 4-6% to 198,000-201,000 bo/d and...
Mar 11, 2020
MCS - Marathon suspends exploration, SCOOP/STACK programs - March 10, 2020
Marathon Oil is reducing its plans for 2020 in the midst of the price rout. The company will trim at least $500 million from its previously announced 2020 capex budget of $2.4 billion. The new top-end guidance of $1.9 billion would be a 30% reduction compared with 2019. Until further notice, Marathon is suspending its resource play exploration and leasing activity, which eliminated planned wells in its new Texas Delaware Basin play targeting the Woodford and Meramec and in the Louisiana...
Mar 11, 2020
MCS - Regional Highlights - March 10, 2020
The US Energy Information Administration projects that Anadarko Basin production will fall by 10,000 bo/d and 140 MMcf/d sequentially in March to 526,000 bo/d and 7.255 Bcf/d. There are 611 DUCs in the Anadarko Basin as of January, down by 50 from...
Mar 11, 2020

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