Oseberg's 2017 Year in Review
Published on January 9, 2018
As we march into 2018, let’s start by taking a look back at Oklahoma O&G activity during 2017. At Oseberg, we believe that data and analytics are incredibly valuable and that their impact is multiplied many times over when coupled with the keen eye of someone with experiential knowledge. Here are a couple of overarching highlights – what can you glean from the data? We would love to hear what you come up with.
- A&D Activity continued at a good clip. We saw some of the bigger deals on the newswire:
- Gulfport entered the SCOOP with the Vitruvian acquisition (announced at the end of 2016 but with transfers hitting in 2017);
- the Alta Mesa merger with Silver Run;
- 7,854 total well transfers last year: Scout Energy Management led the pack with 709 followed by Foundation Energy Management with 583.
The big picture is that there were a heck of a lot of deals done that you likely never heard about. If you want to see ALL the A&D activity in Oklahoma, you will need to look at Oseberg’s Transfer of Operator dataset.
- Newfield was the most active operator on the pre-completion side with 394 Spacing applications, 130 Pooling applications AND the most Permits at 134.
- The top 10 Operators in terms of number of Spacing applications accounted for 51% of ALL spacing applications filed in 2017
- Continental Resources continued to grow their strong position in Oklahoma taking over 7,000 new leases in 2017!
- The biggest story of the year in 2017 may have been the development of the Arkoma or the “Arkoma STACK” as dubbed by Nathaniel Harding, President of Antioch Energy. Hughes county led the state in number of leases taken per county with 11,104 leases taken.