Energy Company Plans Activity Reduction in Oklahoma Starting in 2027
What happened
A company plans to reduce its operational activity in Oklahoma starting in 2027, while production from wet-gas Utica wells continues to be supported. The company also plans to shift toward continuous two-rig operations in Appalachia, a move executives say could lower drilling and completion costs and increase free cash flow by 2028. Liquids accounted for 13% of production, supported by recent wet-gas Utica wells.
From dailypolitical.com
Why it matters
The shift in operations is expected to reduce drilling and completion costs per foot by more than 20% between now and 2028. The company anticipates adjusted free cash flow will grow more than 15% from 2025, assuming a gas price of $3.
The company is concentrating on onshore resource development and production within the U.S. Domestic Energy Market.
From dailypolitical.com
Who's involved
- OklahomaThe state where the company plans to reduce drilling and operational activity in 2027
- Rogers CountyA county within the state of Oklahoma
- Washita CountyA county within the state of Oklahoma