Nearly 1,300 oil and gas professionals attended the 3rd annual DUG Midcontinent conference and exhibition, an approximate 15 percent increase in paid delegates from last year. Attendees heard from top executives and decision-makers from the region's most-active exploration and production companies at the Cox Convention Center in Oklahoma City on February 24-26.
Dave Hager, COO of Oklahoma City-based Devon Energy, delivered the opening keynote remarks for the conference. Hager will become Devon's president and CEO effective August 2015. Chesapeake Energy Vice President John Adcock, from another Oklahoma City-based corporation, gave insights on increasing operational efficiency. He said pad wells are not the most efficient way to drill a well, but rather the most efficient way to move a rig.
Other notable speakers addressed the audience about promising field developments. Wade Hutchings, a regional vice president for Marathon Oil, told attendees 70 percent of Marathon's 2015 capital is allocated to U.S. resource plays. Kevin Phillippi, principal at A.T. Kearney, said each major refining region has seen asset base shifts due to recent economic conditions. He added the most profitable refineries are in Wyoming. Cheniere Pipeline president, Chad Zamarin shared plans for expansions, pipelines and markets. The company is working on the Creole Trail Pipeline, Sabine Pass LNG terminal and first LNG export cargoes projected for the fourth quarter.
Prospective attendees can mark their calendars for next year's DUG Midcontinent conference set for February 23-25, 2016 in Oklahoma City, OK.
Hart Energy would like to thank the 2015 DUG Midcontinentsponsors for their continued support.
The conference may be over, but the conversation continues on Twitter. Join in by following us @HartEnergyConf using #DUGMidcon or check out our Storify page.
President and CEO, Velocity Midstream
U.S. Lower 48 Upstream Analyst, Wood Mackenzie
Executive Vice President, Plains All American Pipeline LP
General Manager, Mid-Continent, Newfield Exploration Co.
Managing Director & Group Head, Oil & Gas, KeyBanc Capital Markets Inc.
President & CEO, Sheridan Production Co. LLC
Principal, A.T. Kearney
Manager, NGL Market Origination Phillips 66
Vice President, Business Development, FourPoint Energy LLC
Senior Vice President, Drilling & Completions, Jones Energy Inc.
Unit Boosts Production Outlook For SoHot, Wilcox, Granite Wash Unit Corp. (UNT) said Oct. 6 it plans to boost its production guidance for the year due to strong well results primarily in its SoHoT, Wilcox and Granite Wash assets.
The Tulsa, Okla.-based company will increase its 2015 year-over-year production growth guidance for its oil and natural gas segment to 6-8% from its previous guidance of 2-4%.
As a result of these efficiencies, the company is reducing its 2015 capex by about $30 million less than originally budgeted.