Auction includes rigs in state
Drilling and well service rigs located in El Reno and Guymon will be part of a major auction in Odessa, Texas, next week. Kruse Energy and Equipment LLC will conduct the Nov. 7-8 auction, which includes equipment from some of the largest oil-field service companies in the country. A preview of the equipment for sale began Thursday in 12 yards in Texas, Oklahoma and North Dakota. For more information, visit www.kruseenergy.com.
Breitling drills in Grant County
Breitling Oil and Gas Corp. has begun drilling its second exploratory well in northern Oklahoma's Mississippian formation, the Texas-based company announced this week. Drilling on the Grant County well started on Oct. 20. It is expected to be completed in about 28 days, with well completion and testing likely to begin in the third week of November. “Breitling remains very optimistic about the horizontal Miss play in Oklahoma.” CEO Chris Faulkner said. “The horizontal Miss play has the opportunity to become a premiere play assisting America in its quest for energy independence.”
Gulfport releases wells' results
Gulfport Energy Corp. on Thursday announced the results of two new wells in Ohio's Utica Shale formation. The company's Ryser 1-25H tested at a peak rate of 1,488 barrels of condensate per day, 5.9 million cubic feet per day of natural gas and 649 barrels of natural gas liquids for a total of 2,914 barrels of oil equivalent per day. The Groh 1-12H well tested at a peak rate of 1,186 barrels of condensate per day, 2.8 million cubic feet per day of natural gas and 367 barrels of natural gas liquids per day for a total of 1,935 barrels of oil equivalent per day.
TULSA — WPX Energy posted a net loss of $64 million, or 32 cents a share, for the third quarter, the company announced Thursday. WPX earned $14 million, or 7 cents a share, in the same period of last year. The company blamed lower commodity prices for the loss. WPX also reported a 2 percent dip in production to 1,359 thousand cubic feet of natural gas equivalent a day, but the company did boost its oil production by 66 percent.
From Staff Reports