article by Steve Toon, Hart Energy
The central Oklahoma Anadarko Basin might be held by a select few operators, but what a lucky bunch they are. Or give them credit for foresight. In this storm of weak commodity prices, economics in the Woodford, Scoop and Stack resource plays are holding up against the gale.
All oil plays compared, Heikkinen Energy Advisors puts the Cana/Scoop at the top economically, with a $30 breakeven price based on $50 oil and $3 gas. The Cana Woodford is the sole basin in the Baker Hughes rig count to show an increase in rigs year-over-year as of the end of August, with 40 rigs active now, vs. 34 in 2014. And that number is projected to increase.
Coming out of second-quarter reporting, operators in these central Oklahoma plays revealed why they are accelerating where others are pressing the brakes. Oil and Gas Investor surveyed recent results and strategies of select operators.
