Coterra announced on Friday during its fourth quarter and full-year 2023 update that in 2024, the company will slash spending on new drilling in the Marcellus by 55% (dropping $460 million) and that production will drop by an estimated 6% in the Marcellus.
Total expenditures for 2024 are expected to range from $6.0 to $6.4 billion, including exploration and development drilling, facilities, leasehold acquisitions, capitalized interest, dry hole costs, and other property, plant and equipment, and excluding property acquisitions, asset retirement costs and non-cash exchanges and transactions. The capital program also excludes certain exploration costs incurred as operating expenses.
Custom oil & gas reports $75
Rig count in the Mid Con last 30 days, report date Feb 26th 2024. We are tracking 146 Oil & Gas Operator and 480 drilling rigs that drilled wells in 94 counties located in the Mid-continent.
Canada Rig Count Report Feb 26, 2024 we are tracking 91 Oil & Gas Operators and 258 drilling rigs that spud wells last 30 days in Alberta, BC and Saskatchewan.
FireBird Energy II LLC is a Fort Worth, Texas based upstream oil and gas company that drilled 17 wells in 2023. Download drilling report.
Our focus right now is the Midland Basin. As we mature, I tell people about our franchise through relationships and opportunities. We will look to expand where it makes sense; if that means another basin, we’re happy to expand there. We’re always looking for what’s next,” he said.
he allocation of drilling and completion capital is expected to be roughly 60% to the Midland Basin and 40% to South Texas and assumes the fourth rig in the Midland Basin remains in place for the majority of 2024.
Matador began 2024 operating seven drilling rigs in the Delaware Basin and added an eighth drilling rig in late January 2024. At February 20, 2024, Matador expects D/C/E capital expenditures for the first quarter of 2024 will be approximately $350 to $420 million, which is a 48% increase as compared to $261 million for the fourth quarter of 2023, primarily due to completion costs associated with the 21 Dagger Lake South wells expected to be turned to sales in the second quarter of 2024.
The Company expects its 2024 capital budget3 to range between $4.2 billion to $4.6 billion. Pioneer expects its capital program to be funded from 2024 cash flow from operating activities.
