Archive for the ‘Barnett Shale’ Category

Devon Energy Corp., Oklahoma City, has agreed to sell the southern portion of its Barnett shale position for $553 million to an undisclosed buyer.

The US rig count during the week ended Oct. 13 declined for the eighth time in 11 weeks. But forecasters continued to see growth in both drilling and production in the coming months and years supported in part by steadier crude oil prices.

The US drilling rig count fell 4 units to 936 during the week ended Oct. 6, according to Baker Hughes data.

The US drilling rig count is seesawing between gains and losses.

US rig count growth appears to be slowing.

ConocoPhillips has agreed to sell its interests in the Barnett shale of North Texas to an affiliate of Miller Thomson & Partners LLC, Lafayette, La., for $305 million plus net customary adjustments.

The US drilling rig count has now increased in 22 consecutive weeks, according to Baker Hughes Inc. data.

Oklahoma’s Cana Woodford and the New Mexico Permian served as the primarily catalysts behind the 21st consecutive US rig count increase.

The US drilling rebound that extends back almost a year has surpassed another benchmark, rising above 900 in its 18th straight week of gains.

Oklahoma City, Okla., independent Devon Energy Corp. reported on plans to divest $1 billion-worth of upstream assets including noncore portions of the Barnett shale area focused mainly around Johnson County as well as other properties in the company’s US resource base.