Mustang Fuel Moves to the Arkoma Basin

Oklahoma Weekly Report - 06/25/18

Oklahoma Frac Activity

• Alta Mesa’s 2018 frac activity has been focused in the Mississippian Formation (in Kingfisher County). Using OseFrac’s pivot table, we were able to compare data from all active operators in the area.
• We found that Alta Mesa always uses acid in their fracs, and water makes up an average of 92% of the total frac.  
• Devon, on the other hand, only uses acid in their fracs 10% of the time, and water makes up an average of 95% of the total frac.
• Both companies are operating in the STACK: who has the better Frac design?

Oklahoma Leasing Activity

• Leasing remains high in McClain and Stephens counties.

• Mustang Fuel has acquired more than 100,000 gross acres in the Arkoma Basin from Bravo Arkoma.

Oklahoma Spacing Filings 

• Devon is looking to accelerate activity in the STACK.

• This is no surprise to us as we’ve already noticed they’ve been ramping up spacing activity in Blaine and Kingfisher counties. Typically an increase in spacing is a strong indicator of future development.

Oklahoma Completion Filings

Oklahoma Pooling Applications

• Casillas Petroleum crept into the top 5 due to their recent activity in the SCOOP.  Pooling Orders show that they are targeting the Mississippian, Hunton, Woodford, and Sycamore formations.

Oklahoma Drilling Intents Filed

• XTO Energy’s recent activity has been focused in the SCOOP, primarily Carter county. They have filed a total of 30 permits in the state over the last year, 10 of which were in June of this year.

Oklahoma Transfer Activity

• BCE Mach, a joint venture between Bayou City Management and Mach Resources, recently acquired more than 100 wells in Wagoner County from WCT Operating.  

• Mustang Fuel’s acquisition from Bravo Arkoma continues their trend, beginning in late 2017, of acquiring assets in the Arkoma Basin.  

Oklahoma Location Exceptions

Oklahoma Increased Density Filings