SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
Oklahoma, a region not known for seismic activity, has experienced a rash of earthquakes since 2009, the same year area oil companies began using hydraulic fracturing, or fracking, to shatter deep rock layers to extract oil and gas.
The oil land sold off in the deal covers 250,000 net acres in west Oklahoma near the Texas Panhandle, with about 1,500 wells pumping oil and gas from subterranean reservoirs called the Cleveland, Tonkawa and Marmaton formations that straddle the state border.
The shale plays where hydraulic fracturing, or fracking, dominated the majority of oil and gas drilling were also the same plays where water use was highest, ranging between 2.6 million gallons and 9.7 million gallons of water per well.
Sound Oil Plc, a Mediterranean producer one-500th the size of Eni SpA, will start exploring fields in Morocco and Italy toward the end of 2015 and early 2016, while Cairn Energy Plc and Savannah Petroleum Plc plan wells in West Africa.
Department of Environmental Conservation Commissioner Joe Martens announced the decision Monday, saying a ban was the “only reasonable alternative” after “years of exhaustive research and examination of the science and facts.”
Outside of North America, Argentina and China are the only two nations that are producing commercial quantities of natural gas trapped in deep-seated shale formations, and they both have the capacity to grow their output substantially, the U.S. Energy Information Administration said in a report Friday.
Rigzone’s latest global hiring survey confirms what you already knew: It’s a tough time to get a job in the oil and gas industry. Just more than half of the global oil and gas hiring managers said that they have “decreased their hiring efforts in the past three months.” Another 13 percent said they’ve frozen […]
FuelFix.com is your daily must-read source for news and analysis on the energy business. Anchored by business reporters at the Houston Chronicle and other Hearst Newspapers, Fuel Fix incorporates blogs by energy experts, market updates, useful data and a real-time summary of the top ideas, hottest stories and latest news in the oil, gas and energy industries.
Browse previous blog posts by month and year of entry. You'll see all the posts for that time period.