Dr. Charles Krauthammer Columnist, Author and Pulitzer Prize Winner
The American oil and gas story is filled with examples of remarkable resilience. For decades, industry leaders have found innovative ways to lead their companies through commodity cycles and past technological limitations. After every challenge, the industry has emerged in a position of strength.
Today's Appalachian producers are no exception. It only took them four years to unlock one of the world's largest natural gas reservoirs. Since 2010, Marcellus natural gas production has grown from 2 Bcf/d to more than 16.5 Bcf/d and Utica production has increased 12-fold. The region now accounts for almost 20% of the natural gas production in the lower 48 U.S. states. And in the face of declining natural gas prices, producers have slashed breakeven costs in half by constantly evolving the technologies and strategies behind drilling and completions.
Innovation and collaboration are key to remaining successful in the prolific Marcellus and Utica formations. At DUG East, you'll connect with over 3,100 oil and gas professionals, 20+ executive-level speakers and over 320 exhibitors for two days of in-depth discussions on how to continue to improve operational efficiencies. Click here to learn more about why you can't afford to miss this essential industry gathering.
CEO, President and Chairman of the Board of Directors, Eclipse Resources Corp.
Chairman and CEO Magnum Hunter Resources
Administrator Energy Information Administration
Managing Partner Ponderosa Advisors LLC
Consultant Wrightstone Energy Consulting
Vice President, Appalachia South BU Chesapeake Energy Corporation
Joseph H. Frantz, Jr.
Vice President, Engineering Technology Range Resources Corp.
Dr. Charles Krauthammer
Columnist, Author and Pulitzer Prize Winner
Founder and Chairman Petrie Partners LLC
Senior Vice President for Northeast Gathering & Processing, Williams
Director, Energy Research ITG Investment Research
Kathryn Miller, CFA
Managing Director of Analytics BTU Analytics, LLC
Michael D. Frederick
Vice President, LNG Operations Dominion Resources
Executive Director of Upstream Stratas Advisors
Executive Vice President, Exploration Rice Energy
Vice President of Northern Appalachian Gas Operations, CONSOL Energy Inc.
Ring Energy Reels In 14,000 Net Acres In Delaware Basin Ring Energy Inc. (REI) is making its debut in the Delaware Basin with the addition of acreage that will nearly double its production in West Texas.
Ring said May 26 it signed an agreement with Finley Resources Inc. to acquire 14,000 net acres in Culberson and Reeves counties, Texas, for $75 million.
Ring, based in Midland, Texas, will be the operator of the properties and have an approximate 98% working interest and average net revenue interest in excess of 78%.
From Delineation To Development In The Midland Basin FORT WORTH, Texas—The Spraberry and Wolfcamp formations have made the Midland Basin a popular play. However, many operators are tasked with determining how close is too close when it comes to well spacing.
“I’m going to talk about something that most CEOs probably don’t want to talk about, and that is why I think the wells we are drilling in the Wolfcamp and the Spraberry out in the Midland Basin ultimately will probably average a little bit less per well than what people are saying they are right now,” said Steve Gray, CEO and director of RSP Permian (RSPP), at Hart Energy’s DUG Permian conference on May 20.
Gray said there are massive oil-in-place resources in the Midland Basin. “If you look at a type log in the middle of the basin, you can see in addition to the five zones that we’ve been producing there are probably four or five others that have potential and have been tested by other operators or are carried in the inventory of other companies. You’ve got a total section that’s probably 3,000 feet or 4,000 feet thick [that’s pay], and when you compare that to other resource plays in the United States, it just dwarfs most of those other plays,” he said.