Merla products return to state
After a 40-year absence, products from Merla Wellhead Solutions are once again available in Oklahoma. The Houston-based provider of oil-field flow control valves, actuators and related systems has struck a distribution deal with Spicer & Sandburg Inc. The Oklahoma City company will distribute Merla's products in Oklahoma, Kansas, Arkansas and North Texas. The company's products have not been sold in Oklahoma since the early 1970s, when Merla began looking to expand its business overseas as the domestic market faltered.
Shares sold to fund drilling
TULSA — American Natural Energy Corp. has completed the sale of 7 million shares of common stock for $420,000, the company announced Thursday. The company intends to use proceeds from the sale to fund its drilling operations in Louisiana.
Eufaula LLC reports production
TULSA — An affiliate of New Gulf Resources LLC is producing more than 400 barrels of oil equivalent a day from its latest well in the Mississippian oil play, the company announced Thursday. Eufaula LLC is completing its second well in the play, as the company continues to tweak its operations. “We continue to see improved performance while lowering our costs per well, making for some very attractive economics,” said Wink Kopczynski Jr., the company's chief operating officer.
PetroQuest notes drilling plans
PetroQuest Energy Inc. has drilled its first five wells in the Mississippi Lime play in northern Oklahoma, the Louisiana-based company reported this week. The first two Pawnee County wells achieved maximum production of nearly 1,000 barrels of oil equivalent combined, with oil accounting for more than 70 percent of their output. The other wells are awaiting completion, as PetroQuest tests multiple reservoir fracture and stimulation processes. The company, which has three rigs in northern Oklahoma, plans to drill as many as 20 wells there this year. PetroQuest also has two rigs in western Oklahoma's Woodford play. The company recently initiated production from seven wells in the liquids-rich area of its acreage. PetroQuest estimates producing about 42,000 cubic feet of natural gas and 600 barrels of oil a day from its Oklahoma properties.