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Business Business - Energy

Oil and gas activity: Saturday, Oct. 11, 2008

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Published: October 11, 2008

Oklahoma crude oil prices, posted as of 5 p.m. Friday:

Oklahoma Sweet: Sunoco Inc. — $74.25

Oklahoma Sour: Sunoco Inc. — $62.25

Oklahoma oil and gas drilling activities posted Oct. 2:

Completions:

Canadian: Range Production Co.; Moreno No. 1-16 Well; NE1/4 NW1/4 SW1/4 NE1/4 of 16-13N-09W; 1.791 million cu-ft gas per day; TD 10,485.

Coal: Pablo Energy II LLC; Lewis No. 1H-31 Well; SE1/4 NW1/4 SE1/4 SW1/4 (SL) of 31-01N-10E; 3.7 million cu-ft gas per day, 50 barrels oil per day; TD 10,765.

Custer: Noble Energy Inc.; Hunnicutt No. 3-30 Well; SE1/4 NW1/4 SE1/4 NE1/4 of 30-13N-14W; 1.55 million cu-ft gas per day; TD 11,681.

Kingfisher: Tex-Star Production; Mueggenborg No. 1-21 Well; NE1/4 SE1/4 NE1/4 NW1/4 of 21-16N-07W; 6 barrels oil per day, 83,000 cu-ft gas per day; TD 8,330.

Logan: Noble Energy Inc.; Cochran No. 20-3 Well; NE1/4 SW1/4 NE1/4 NW1/4 of 20-15N-04W; 30,000 cu-ft gas per day; TD 6,750.

Craig Elder Oil & Gas LLC; Anderson SWD No. 1 Well; SE1/4 NW1/4 NW1/4 NW1/4 of 18-16N-01W; TD 8,000.

Major: Chesapeake Operating Inc.; Doug No. 1-27 Well; W1/2 E1/2 NE1/4 SW1/4 of 27-21N-13W; 665,000 cu-ft gas per day, 46 barrels oil per day; TD 8,950.

Seminole: Ingram Exploration; River Bluffs No. 4 Well; SW1/4 NE1/4 SE1/4 SW1/4 of 31-07N-07E; 8,000 cu-ft gas per day; TD 4,563; Doolins Slope No. 2 Well; NW1/4 NW1/4 NE1/4 SE1/4 of 01-06N-06E; 12 barrels oil per day, 30,000 cu-ft gas per day; TD 2,610.

Washington: Panoak Oil & Gas Corp.; Brannin No. 25-B1 Well; C E1/2 NE1/4 of 25-24N-12E; 58,000 cu-ft gas per day; TD 1,665.

Washita: Chesapeake Operating Inc.; South Fork No. 1-16 Well; C NE1/4 of 16-09N-16W; 6.604 million cu-ft gas per day; TD 22,820.

Range Production Co.; Skelley No. 1-13 Well; NE1/4 NE1/4 NE1/4 SW1/4 (SL) of 13-08N-18W; 1.643 million cu-ft gas per day; TD 19,336.

Intent to drill:

Beaver: Questar Exploration & Production Co.; Law No. 3-19 Well; SE1/4 SW1/4 SE1/4 NW1/4 of 19-03N-22E; TD 7,700.

Beckham: Stephens Production Co.; Thompson No. 1-8X Well; S1/2 N1/2 N1/2 N1/2 of 08-09N-25W; TD 7,300.

Canadian: Devon Energy Production Co., LP; Sharry No. 1-16H Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 16-13N-10W; TD 17,744.

Coal: Devon Energy Production Co., LP; Parker No. 2-7H Well; NW1/4 SE1/4 SE1/4 SW1/4 (SL) of 06-03N-11E; TD 12,507.

Custer: Samson Resources Co.; Robinson No. 2-8 Well; SW1/4 SW1/4 NW1/4 SE1/4 of 08-14N-14W; TD 13,000.

Questar Exploration & Production Co.; Asa No. 1-22 Well; SE1/4 SW1/4 NE1/4 NW1/4 of 22-12N-18W; TD 15,400.

Dewey: Penn Virginia Operating Co., LLC; Lisle No. 2-3 Well; N1/2 S1/2 SW1/4 NW1/4 of 03-16N-17W; TD 11,650.

Ellis: Jones Energy, Ltd.; Taylor No. 3-19H Well; SW1/4 SW1/4 SW1/4 SE1/4

(SL) of 19-20N-23W; TD 84,60.

Garvin: Prime Operating Co.; S.H. Cowan No. 49 Well; NW1/4 SE1/4 NW1/4 SE1/4 of 15-01N-03W; TD 2,000.

Hughes: Devon Energy Production Co., LP; King No. 2-24H Well; SW1/4 SE1/4 SE1/4 SW1/4 (SL) of 24-04N-10E; TD 12,746; D&L Cattle No. 2-24H Well; E1/2 NE1/4 NW1/4 NW1/4 (BHL) of 24-04N-10E; TD 12,775.

Jefferson: Carter Preston Oil Co.; Brenda No. 1 Well; NW1/4 SE1/4 SE1/4 SW1/4 of 31-03S-04W; TD 3,200.

Latimer: Unit Petroleum Co.; Maxey No. 7 Well; SE1/4 SE1/4 SW1/4 NE1/4 of 05-05N-20E; TD 14,500.

Lincoln: Altex Energy Corp.; Meen No. 1-8H Well; SW1/4 NE1/4 SW1/4 SW1/4 (BHL) of 08-15N-04E; TD 9,717.

Okmulgee: Trey Resources, Inc.; Carl Ennis No. 1 Well; SW1/4 SW1/4 NE1/4 NE1/4 of 32-14N-11E; TD 3,305.

Pittsburg: Continental Resources, Inc.; Florenzano No. 1-36H Well; SE1/4 NE1/4 SW1/4 SE1/4 (SL) of 36-06N-15E; TD 15,230.

Pushmataha: RKI Exploration & Production, LLC; KDC No. 1-23 Well; NE1/4 SW1/4 NE1/4 NE1/4 of 23-03S-15E; TD 12,000.

Seminole: Ruffel Lance Oil & Gas Corp.; Foster No. 1B-28 Well; NE1/4 SW1/4 SW1/4 SW1/4 of 28-08N-08E; TD 4,300.

Stephens: Perkins Energy Co.; Thomason Sand Unit No. 13 Well; NW1/4 SE1/4 SE1/4 SW1/4 of 10-01S-05W; TD 2,000.

Wagoner: Coronado Great Plains, LLC; Knowles No. 19-2A Well; SE1/4 SE1/4 SE1/4 SE1/4 of 19-16N-17E; TD 2,100.

Oklahoma oil and gas drilling activities posted Oct. 3:

Completions:

Canadian: Blue Dolphin Production; PJ No. 1 Well; SW1/4 NE1/4 SW1/4 NE1/4 of 35-14N-08W; 6.379 million cu-ft gas per day, 130 barrels oil per day; TD 12,200.

Coal: St. Mary Land & Exploration Co.; Frazier No. 1-22 Well; S1/2 S1/2 SW1/4 SW1/4 of 22-01N-10E; 2.2 million cu-ft gas per day, 35 barrels oil per day; TD 11,992.

Creek: Rainbow Oilwell Service Inc.; White Tail No. 1 Well; C SE1/4 SE1/4 NW1/4 of 26-14N-07E; 100,000 cu-ft gas per day, 20 barrels oil per day; TD 4,200.

Hughes: Continental Resources Inc.; Eugene No. 1-2H Well; SE1/4 SW1/4 SE1/4 SE1/4 (SL) of 02-04N-09E; 778,000 cu-ft gas per day; TD 8,015.

Le Flore: BP America Production Co.; Henry Hill No. 12 Well; NE1/4 SE1/4 SE1/4 SW1/4 (SL) of 30-07N-23E; 1.991 million cu-ft gas per day; TD 10,948.

Noble: MacKellar Inc.; Hopkins No. 1 Well; S1/2 NE1/4 NW1/4 SE1/4 of 04-20N-02W; 10 barrels oil per day, 6,000 cu-ft gas per day; TD 5,147.

Okmulgee: C & J Exploration; Chancey No. 3-34 Well; N1/2 S1/2 SW1/4 SW1/4 of 34-11N-12E; 2 barrels oil per day, 2,500 cu-ft gas per day; TD 3,330; Dillingham No. 9A Well; C SW1/4 SW1/4 NW1/4 of 10-14N-13E; 3 barrels oil per day; TD 1,390.

Pawnee: Chizum Oil LLC; Glencoe No. 1-32 Well; C SW1/4 NW1/4 NW1/4 of 32-21N-04E; 29 barrels oil per day, 100,000 cu-ft gas per day; TD 3,780; Glencoe No. 2-32 Well; C NW1/4 NE1/4 NW1/4 of 32-21N-04E; 20 barrels oil per day, 40,000 cu-ft gas per day; TD 3,500; Glencoe No. 3-31 Well; W1/2 NE1/4 NE1/4 SW1/4 of 31-21N-04E; 36 barrels oil per day, 143,000 cu-ft gas per day; TD 4,301; Glencoe No. 2-31 Well; E1/2 W1/2 NW1/4 SE1/4 of 31-21N-04E; 46 barrels oil per day, 75,000 cu-ft gas per day; TD 4,315; Glencoe No. 4-31 Well; C SW1/4 NW1/4 SW1/4 of 31-21N-04E; 24 barrels oil per day, 25,000 cu-ft gas per day; TD 4,310; Glencoe No. 6-31 Well; C SE1/4 NW1/4 NW1/4 of 31-21N-04E; 10 barrels oil per day, 10,000 cu-ft gas per day; TD 3,512; Glencoe No. 5-31 Well; C NW1/4 SW1/4 NE1/4 of 31-21N-04E; 35 barrels oil per day, 42,000 cu-ft gas per day; TD 3,820.

Texas: ConocoPhillips Co.; Long State B No. 36-6 Well; NW1/4 SE1/4 SE1/4 SW1/4 of 36-02N-14E; dry; TD 7,050.

Chevron USA Inc.; A. D. Lewter No. 2-R Well; C SE1/4 SE1/4 (SL) of 23-02N-14E; 341,000 cu-ft gas per day; TD 3,001.

Woods: Cabot Oil & Gas Corp.; Bouziden No. 3-27 Well; C SW1/4 NW1/4 of 27-24N-16W; 161,000 cu-ft gas per day, 28 barrels oil per day; TD 6,875.

Woodward: SandRidge Energy Inc.; Peake No. 1-27 Well; C SE1/4 SE1/4 of 27-25N-17W; 566,000 cu-ft gas per day, 6 barrels oil per day; TD 6,550.

Cabot Oil & Gas Corp.; Horn Smith No. 5-25 Well; C NW1/4 NW1/4 of 25-23N-18W; 79,000 cu-ft gas per day; TD 7,860.

Intent to drill:

Beckham: St. Mary Land & Exploration Co.; TGL No. 1-32 Well; W1/2 NE1/4 SW1/4 SW1/4 of 32-11N-26W; TD 18,022.

Canadian: Slawson Exploration Co. Inc.; Nolin No. 1-13 Well; E1/2 NE1/4 NW1/4 NE1/4 of 13-11N-06W; TD 8,550.

Carter: Citation Oil & Gas Corp.; SE Tatums Unit No. 3-18 Well; NW1/4 SE1/4 NW1/4 SE1/4 of 22-02S-02W; TD 2,070.

Cimarron: Crest Resources Inc.; Ruth No. 1-16 Well; C SE1/4 NW1/4 of 16-04N-09E; TD 4,500.

Creek: WFD Oil Corp.; SDSU No. 14 Well; N1/2 NW1/4 SW1/4 NW1/4 of 02-16N-10E; TD 2,950; SDSU No. 13 Well; SE1/4 NW1/4 NE1/4 NW1/4 of 02-16N-10E; TD 2,950; SDSU No. 12 Well; W1/2 SE1/4 NE1/4 NE1/4 of 02-16N-10E; TD 2,950.

Berexco Inc.; Powell No. 15 Well; SW1/4 SW1/4 SW1/4 SE1/4 of 17-18N-07E; TD 3,094.

WFD Oil Corp.; Delia No. 1-35 Well; SW1/4 SW1/4 SE1/4 SE1/4 of 35-17N-10E; TD 2,500.

Grady: Ward Petroleum Corp.; Kent No. 1-20 Well; N1/2 N1/2 SW1/4 SE1/4 of 20-05N-05W; TD 15,300.

Kay: Davis Garry; Querry No. 2 Well; S1/2 NW1/4 NW1/4 NE1/4 of 01-25N-02W; TD 4,900.

Logan: First Liberty Energy Inc.; Coral No. 11-32 Well; SW1/4 NE1/4 SW1/4 SE1/4 of 11-17N-03W; TD 6,400.

Major: Jolen Operating Co.; Cheval No. 11-2 Well; NW1/4 NW1/4 SW1/4 SE1/4 of 05-21N-14W; TD 7,150; Cheval No. 7-3 Well; SW1/4 SW1/4 SE1/4 NE1/4 of 05-21N-14W; TD 7,150.

McIntosh: Penn Virginia Oil & Gas Corp.; Hunter No. 3-33H Well; SE1/4 SE1/4 SE1/4 NW1/4 (SL) of 33-09N-13E; TD 5,286.

Okmulgee: B B R Oil Corp.; Beagle No. 2 Well; NE1/4 SW1/4 NE1/4 SW1/4 of 08-15N-11E; TD 2,600; Rusty No. 2 Well; SE1/4 SE1/4 NE1/4 NW1/4 of 08-15N-11E; TD 2,500.

Stephens: Sudberry Mark E.; Goddard No. 5-P Well; SE1/4 NE1/4 SE1/4 SW1/4 of 08-02S-04W; TD 450.

Wagoner: Coronado Great Plains LLC; Boyd No. 10-1 Well; SW1/4 SW1/4 SE1/4 SW1/4 of 10-16N-16E; TD 2,100; Greer No. 21-1 Well; SE1/4 SE1/4 SW1/4 NW1/4 of 21-16N-18E; TD 2,500.

Woods: Chesapeake Operating Inc.; Mohr No. 1-22 Well; S1/2 SE1/4 NW1/4 NW1/4 of 22-29N-15W; TD 4,950.

Chaparral Energy LLC; Erikson No. 5-33 Well; SE1/4 SW1/4 NE1/4 SW1/4 of 33-29N-16W; TD 5,600; Erikson No. 3-33 Well; W1/2 NE1/4 NE1/4 SE1/4 of 33-29N-16W; TD 5,675.

Source: Oil-Law Records Corp.

LIVESTOCK:

The following market information was reported by the U.S. and Oklahoma Departments of Agriculture and other sources for the week ended Friday.

Combined weighted average report for Oklahoma auctions. Eight feeder auctions this week including Ada, Apache, El Reno, Woodward, Oklahoma City, Tulsa, Texhoma and McAlester. Feeder cattle and calves were sharply lower again this week until mid week when some moderation began to show. Auction receipts continue to decrease in spite of the beginning of the fall calf run.

Cattle:

Oklahoma combined weekly auction summary: Receipts: 22,600; last week: 26,200; last year: 31,000.

Medium and large No. 1 Steers: (weighted average) Calves: 331 lbs. $124.30; 384 lbs. $119.98; 424 lbs. $114.43; 477 lbs. $110.50; 520 lbs. $108.21; 570 lbs. $103.40; 628 lbs. $96.82; 671 lbs. $92.56; 726 lbs. $91.79.

Yearlings: 624 lbs. $99.38; 676 lbs. $98.08; 718 lbs. $99.50; 764 lbs. $98.36; 819 lbs. $97.42; 862 lbs. $95.17; 917 lbs. $96.41; 982 lbs. $88.22.

Medium and large No. 1 Heifers: (weighted average) Calves: 330 lbs. $102.55; 375 lbs. $104.61; 432 lbs. $98.94; 474 lbs. $95.15; 518 lbs. $93.49; 570 lbs. $95.62; 630 lbs. $87.72; 675 lbs. $88.37.

Yearlings: 630 lbs. $92.38; 677 lbs. $94.28; 719 lbs. $94.04; 780 lbs. $93.44; 817 lbs. $88.36; 865 lbs. $89.65.

Slaughter cows: Average dressing Boners and Breakers $46-$51; Lean cows $43-$47.

Slaughter bulls: average dressing $60-$63.

Slaughter cattle:

Market steady in Texas and Kansas. Nebraska $5-$6 lower on a dressed basis, $6 lower live. The South Plains sold $4 lower.

Confirmed through Friday afternoon 139,100 head.

Nebraska feedlots: Steers and heifers: $88-$91.

Dressed basis steers and heifers: Select and choice $138-$142, mostly $140.

South Plains: Texas Panhandle and Kansas: $91-$93.

Cattle futures:

Friday’s close:

Live cattle: October $89.12; December $91.30; February $91.82; April $92.45.

Feeder cattle: October $95.45; November $95.05; January $95.05; March $96.40.

Cattle slaughter:

Federally inspected cattle: 650,000, up 1.7 percent from last year.

Hogs:

Oklahoma City direct hogs:

Receipts this week: 350.

Barrows and gilts: U.S. Nos. 1-3 220-270 lbs. $39.

Sows: under 400 lbs. $35; 400-450 lbs. $40; 450-500 lbs. $46; 500-700 lbs. $48-$50.

Sioux Falls, S.D.:

Friday’s market:

Barrows and gilts: U.S. Nos. 1-3 220-280 lbs. $46.50.

Sows: 300-500 lbs. $42-$47; 500-700 lbs. $52-$54.

Western Cornbelt direct lean hog base price: weighted average price of packers bids on a carcass basis delivered to packing plants Friday $67.84.

Hog futures:

Friday’s close:

Dressed basis: (74 percent yield): October $66.00; December $59.88; February $64.98; April ; $70.25.

Hog slaughter:

Federally inspected hogs: 2.375 million, up 1.5 percent from last year.

Sheep and goats:

El Reno sheep and goat auction: 520 head. (Wednesday’s market report): All classes of sheep and goats steady to $5 higher. Feeder lambs: Medium and large Nos. 1-2: 60-90 lbs. $80-$86; Slaughter lambs: Mostly choice Nos. 1-2: 80-100 lbs. $80-$82; 100-155 lbs. $75-$84.

Goats: Slaughter kids: Selection No. 1: 40-60 lbs. $50-$60; 60-80 lbs. $62-$70; 80-120 lbs. $80-$86; Selection No. 2: 30-40 lbs. $25; 40-60 lbs. $46; 60-80 lbs. $63; Slaughter nannies: Selection Nos. 2-3: 80-125 lbs. $37-$57; 130-150 lbs. $43-$51; Thin 70-110 lbs. no test.

Sheep slaughter:

Federally inspected sheep: 46,000, down 8 percent from a year ago.

Boxed beef:

Estimated composite boxed beef cutout value: Market closed $3.13 lower than last Friday. Choice 600-900 lbs. $149.51; select 600-900 lbs. $143.24.

Meat production:

Beef: 512.7 million lbs., up 1.4 percent from last year.

Pork: 471.8 million lbs., up 0.2 percent from last year.

Lamb: 3 million lbs., down 9.1 percent from last year.

Cattle carcass weights — National average: This week estimate 791 lbs.; last week estimate 789 lbs.; last year’s actual 794 lbs.

Source: USDA Market News Service — Oklahoma Deparment of Agriculture.