Followers | 123 |
Posts | 7286 |
Boards Moderated | 0 |
Alias Born | 07/06/2012 |
Friday, October 19, 2012 2:25:24 PM
Statoil will be shedding about 180 natural gas wells at a time when prices for the fuel remain unprofitable for most producers. Natural gas prices fell to a decade low in April because of recent advances in drilling technology that yielded a steep increase in supply.
Statoil will divest about 230 wells in the Anadarko basin in Oklahoma and along the Gulf Coast in Louisiana and Texas, said Ola Morten Aanestad, Statoil's vice president of communications. About 80% of the wells produce natural gas, Mr. Aanestad said.
The sale will occur during the monthlong oil and gas clearinghouse auction scheduled for Nov. 14, Mr. Aanestad said. Statoil will put two other packages "shortly," including natural gas wells spread over 7,500 gross acres in Brooks County, Texas, and 10,000 gross acres in the Permian Basin area of West Texas, he said.
Statoil bought Texas-based Brigham for $4.4 billion as a way to increase its exposure to U.S. unconventional oil and gas fields.
OTCBB / Pink Sheet Oil & Gas Stocks
Don't believe anything I say. Do your own DD. Insert huge disclaimer here ____________.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM