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Oil and Gas Journal Drilling News

  1. Linn Energy Inc., Houston, and Citizen Energy II LLC, Tulsa, have each agreed to contribute 70,000 net acres in Oklahoma to form Roan Resources LLC, an equally owned company focused on the Merge-SCOOP-STACK play of the Anadarko basin.

  2. Repsol Sinopec Resources UK Ltd., Aberdeen, has started gas production from Cayley field, the third and final discovery to be brought on stream during the major redevelopment of the Montrose area in the central North Sea.

  3. CapeOmega AS, Bergen, has agreed to buy 39% working interest in Brynhild oil field in PL148 of the Norwegian North Sea from Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, for $91.5 million, including historic tax and uplift balances.

  4. Oil sands production in western Canada provides a substantial economic benefit in the eastern Canadian province of Quebec, according to a study commissioned by the Canadian Association of Petroleum Producers.

  5. Under a price-recovery scenario that assumes West Texas Intermediate oil prices will hit $60-70/bbl from 2019 onwards, shale drilling and completions will increase at 20%/year and production will increase at 12%/year through 2021, according to the newly released North American Shale Oil Outlook by McKinsey Energy Insights (MEI), an energy data and analytics specialist.