Permian, Hunton Reservoir, Oklahoma, Texas, conventional, Larry E. Lee, Halcon Resources, David J. Chernicky, New Source Energy Partners LP , Ram Energy Resources, Vanguard Natural Resources, LRR Energy LP

New Source Energy Partners’ Deal Hands Over E&P Power

Larry E. Lee, who helped create the company that became Halcón Resources Corp. (NYSE: HK), is on the move again, buying Permian Basin assets and, more recently, interest in the general partner of an MLP.

Through the deal, Lee would be able to acquire control of the E&P activities of New Source Energy Partners LP (NYSE: NSLP) if certain conditions are met, including the purchase of some of Lee’s oil and gas assets. The transaction is another sign that E&P MLPs may be struggling more than their publically traded cousins in the downturn.

New Source said April 27 that Lee’s 2100 Energy LLC acquired an 18.4% interest in New Source Energy GP LLC. The interest was purchased from Kristian B. Kos, New Source’s chairman and CEO. New Source is an Oklahoma City company with conventional resource reservoirs in east-central Oklahoma and oilfield services that specialize in increasing efficiencies and safety in drilling and completion processes.

April 27, 2015
US Land Drilling, survey, Heard In The Field, Hart Energy, Midcontinent, shale

Day Rates For Midcontinent Premium Rigs Down 40%

Demand for Midcontinent drilling has come to a halt outside of efforts to hold leases, though some contractors anticipate activity will improve late third quarter. 

April 27, 2015
OGIS, conference, New York, IPAA, Leslie Haines, Hart Energy

OGIS: Protect The Balance Sheet, Drill The Core

Creating value and focusing on returns was a recurring theme at the 21st annual OGIS energy conference in New York, sponsored by IPAA.

April 27, 2015
Anadarko methane leaks

Energy, Technology Are Great Enablers

Anadarko’s leader praises contributions of both.

April 27, 2015
Ahmed Hashmi, BP, unconventional, shale, IHS, IHS Energy CERAWeek, Ibraheem Assa’adan, Saudi Aramco,  technology

Need For New, Improved Technology Remains Despite Strides

Lower oil prices have prompted companies to ramp up the search for technologies aimed at improving efficiency, growing production and adding profits.

April 24, 2015

Pricing Pressure Squeezes Proppant Market

The desire to maintain market share in the long run and avoid losing business when the market recovers likely means proppant companies will not force customers to live up to their contracts.

April 24, 2015
Goodrich, GDP, Eagle Ford, TMS, Tuscaloosa Marine Shale, shale, divest

Goodrich Alive In TMS But Tempted By Eagle Ford Divestment

Goodrich’s Eagle Ford Shale position is located in Frio and LaSalle counties, Texas, near producers Chesapeake Energy, Cabot, Carrizo and EOG Resources.

April 23, 2015
shale oil, export, Alaska, Sen. Lisa Murkowski, Senate Energy and Natural Resources Committee, Iran, sanctions, OPEC, production

Alaska Sen. Murkowski: Time To Lift Sanctions On US Oil Industry

With current oil export exemptions for Canada that may also be granted to Mexico, Murkowski asks why allies such as Italy and Poland cannot benefit from the U.S. oil boom.

April 23, 2015
Divestment, A&D, M&A, Schlumberger, Halliburton, Baker Hughes, BHI, HAL, SLB, Ryan Lance, ConocoPhillips, oil and gas, layoffs, merger, OFS, OFS revenue

Halliburton Selling $3.5 Billion In Revenue Makers As Peers Lay Off More

Baker Hughes and Schlumberger also made announcements that they will cut nearly 15,000 jobs on top of already announced layoffs.

April 22, 2015

Operators Move To Higher Proppant Loading In Haynesville

Enhanced completion techniques developed in tight oil plays are beginning to show up in traditional dry gas shales such as the Haynesville with operators adopting extended laterals and higher proppant loading.

April 21, 2015
Permian Basin, Arkoma Basin, Vanguard Natural Resources, LRR Energy LP,  MLP,  Midcontinent, Gulf Coast, boe, reserves

Vanguard Rolls Up Fellow Upstream MLP, Gains Permian Assets

Vanguard buys LRR Energy’s Permian and Arkoma assets, including 1,290 gross producing wells and about 158,000 net acres. LRR’s proved reserves were about 203 Bcfe in December 2014.

April 21, 2015

Refracking Presents Opportunity For Shale Plays

Oil and gas companies are increasingly turning to technology and improved techniques to become more efficient and grow output as low oil prices slowly rebound.

April 20, 2015