Few regions in the U.S. are as rich in energy history as the Midcontinent. Even fewer are economic at $50 WTI. This area, home to some of country's oldest oil and gas fields, is stacked deep with layers of resource-rich rock. Its key players have found a way to survive (even thrive) in the downturn. Thanks to the condensate- and NGL-rich Granite Wash play to the gas-prolific Hugoton and the oil-loaded Woodford (and other zones) in central Oklahoma, the region's story is still being written. The Midcontinent also is extremely well connected. At the heart of it all lies the country's top crude storage and trading hub in Cushing – with 80 million barrels of storage capacity and links to Midwest and Gulf Coast refineries.
This October, hear what's happening and what's next for the Midcontinent directly from 20+ senior-level executives and industry analysts in targeted conference sessions. You'll be able to meet and network with the region's top producers during the event's 9+ hours of dedicated networking sessions. Plus, top companies will showcase efficiency-focused products and technologies on the trade show floor and in the event's all-new Technology Showcase.
Rockies: Workover Prices Static In Face Of Increasing Demand Rising commodity prices are encouraging operators to venture back into the workover market in the Greater Rockies, or the Rocky Mountain market outside the Bakken Shale.The increase in oil prices early July have prompted greater activity in the Uinta Basin and Niorbrara Shale northeast of Denver in particular, according to Hart Energy’s Heard In The Field survey.Oil has since dropped due to an ongoing oversupply of crude and refined products. West Texas Intermediate crude futures were trading around $41 early on July 29, with Brent close behind at about $42.Operators are doing remedial work on wells previously shut-in because of low oil prices. Rod and tubing work make up 87% of job mix among survey respondents.Activity still remains low region-wide and less than half of survey respondents had been involved in a completion over the last 90 days.Drilling remains sporadic outside the Denver-Julesburg Basin though some wildcats are underway in the North Park and Powder River basins.Hourly rates were stable at an average $247 for the benchmark 500 series C workover unit. However, workover contractors expect rates to remain flat for the remainder of 2016, pending an increase in oil prices.Watch for the next Heard In The Field report on the Greater Rockies workover/well service market in December.