MAKING IT IN THE MIDDLE

摘要

The Midcontinent holds potential for those willing to work for it.Oklahoma produced a state record 18.5 million barrels of oil in April,an increase of nearly 400,000 barrels compared to March.Despite a decline in active rigs,both crude oil and natural gas production in the region continue to climb.Legacy companies like Continental Resources Inc.have enhanced well performance while operating fewer rigs thanks to advances in rig efficiency and drilling technique.The company's”Project Springboard,”which has improved cycle times and well productivity,prompted a 9% production increase with 25% fewer rigs.This move toward more production with less operating overhead could not have come at a better time.Tighter financial resources and higher median breakeven costs have spurred a jump in M&A activity in the region,and those with the means to reinvent their drilling strategies will reap the benefits down the line.”The play is resetting expectations around what it is capable of,”said 2019 DUG Midcontinent speaker Shak Ahmed of RS Energy,”and while this won't be painless,it will be better in the long term.”