Woodford Exclusives

Midcontinent, needs, 50, oil, before, drilling, revives, Hart Energy, survey, fracking, shale, market

Rig rates are stable in the Midcontinent, but demand for drilling services remain low. Attitudes are approaching capitulation among service providers who have little expectation that the market will improve anytime soon.

Well service, workover, activity, glacial pace, Midcontinent, operators, routine maintenance, survival mode, rigs, fracking, shale, Hart Energy, survey

Reality of a subpar 2016 kicks in as Midcontinent operators delay activity. When activity does occur, routine maintenance accounts for 88% of job mix, the highest percentage for any domestic market.

Midcontinent, operators, turning, vertical wells, Hart Energy, survey, shale, fracking, drilling, completions, horizontal, laterals, slickwater, plug and perf, zipper frack

The cost of drilling and completing horizontal wells has Midcontinent operators reducing horizontal activity. The trend is not huge statistically, but it continues to surface in Hart Energy regional surveys.

Woodford Gross Acreage

Company Net Acreage
Newfield Exploration 146,000
ExxonMobil 115,000
BP 90,000
Vanguard Natural Resources 66,000
All Top Acreage Holders
Company Net Acreage
Continental Resources 619,997
Newfield Exploration 300,000
Devon Energy 280,000
ExxonMobil 280,000
All Top Acreage Holders