Continental Remains King of the SCOOP

Oklahoma Weekly O&G Report - 6/11/2018

Oklahoma Leasing Activity

• Despite a slight slowdown in Continental’s activity at the end of May, they still remain the most active operator in the SCOOP, with the majority of activity occurring in Stephens County.

• The company with the most leases in the MERGE in the last 60 days is a broker - RedSky Land. Could they be working for a new entrant or one of the companies already with a position?

Oklahoma Spacing Applications 

• EOG continues to space the Merge in McClain county, targeting the Mississippian, Woodford and Hunton formations.

Oklahoma Completion Filings

• Devon has been able to cut costs in the STACK, averaging almost $1.5MM in savings per well in the Showboat Development. Expect more savings in the future as they continue to optimize their completions process.

Oklahoma Pooling Applications

• Continental’s pooling applications are targeting the Springer formation, which is part of the Springboard Project we talked about a few weeks ago. Their pooling orders are focused in the western portion of the STACK.

Oklahoma Drilling Intents Filed

• No surprise that Newfield is active primarily in Kingfisher County. Check out our recent STACK report for a more in-depth look into this and other operators in the STACK.

• The SCOOP and STACK rig count continues to increase in 2018.

Oklahoma Transfer Activity

• Impact Energy acquired assets from Primexx Operating in northern Oklahoma. They have a great track record in the Anadarko basin.

Oklahoma Location Exceptions

Oklahoma Increased Density Filings