Oklahoma 2018

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OKLAHOMA: KEY PLAYERS 18 | November 2018 | Gastar Exploration Inc. Gastar Exploration Inc. is a pure play Midconti- nent independent energy company engaged in the exploration, development and production of oil, condensate, natural gas and NGL. In February Gastar sold its interest in West Edmund Hunton Lime Unit (WEHLU) assets for $107.5 million. Stack play average production, excluding WEHLU, was 5,700 boe/d in the second quarter, according to Gastar's second-quarter 2018 results report. The company also reported second-quarter net production of 2,600 bbl/d of oil and conden- sate, 11.8 MMcf/d of natural gas and 1,100 bbl/d of NGL. Stack play production for the second quar- ter consisted of approximately 66% liquids, (com- prised of 46% oil and 20% NGLs), down from 72% and 69% liquids in the fi rst quarter of 2018 and second quarter of 2017, respectively. Gastar's capex in the second quarter totaled $42 million, comprising $32.8 million for drilling, completions and infrastructure costs, $6 million for unproved acreage extensions, renewals and additions, and $3.2 million for other capitalized costs, the report stated. Gastar was running one rig in the Stack play acreage in the fi rst half of the year. During the sec- ond quarter the company spud four gross (3.7 net) operated Osage wells and two gross (1.9 net) oper- ated Meramec wells and completed fi ve gross (4.9 net) Osage operated wells using its new 35-stage completion design. Gastar also participated in numerous third-party wells across its 69,400-net- acre core Stack play acreage position, according to the report. This position is about 84% operated and 73% HBP. Jones Energy Inc. Jones Energy Inc. is an Anadarko Basin indepen- dent oil and natural gas company headquartered in Austin. The company has two primary assets located in the Anadarko Basin across Texas and Oklahoma. Its Western Anadarko asset is located across the Oklahoma and Texas Panhandle and its Eastern Anadarko (Merge) asset is located in the prolifi c Scoop/Stack fairway in Canadian and Grady counties in Oklahoma. Jones Energy holds approximately 22,500 net acres in the core of the Merge play with 38 oper- ated sections. The company had total production of 24,967 boe/d reported for the second quarter, of which the Merge represented 41%, according to the company's second-quarter report. Jones Energy is focused on delineating the Meramec and Wood- ford plays and reported 5,443 gross (927 net) drill- ing locations as of year-end 2017. According to the report, the company has drilled about 40 operated Merge wells and has more than 530 operated pro- ducing wells in its Western Anadarko asset. Jones Energy is running one rig on its Merge asset, with 2018 plans to HBP all of its operated sec- tions by November. The company released initial 2018 third-quarter production guidance of 19,500 boe/d to 21,700 boe/d. Jones Energy's rig is at work in the Merge. (Photo courtesy of Jones Energy)

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