The Only Constant Is…

The Only Constant Is…

If you missed his quote this morning, Halliburton’s CEO predicted “For the first time in a long time, we will see a buyer looking for a barrel of oil, as opposed to a barrel of oil looking for a buyer.” Just one more reminder that none of us choose a career in the oil and gas industry because nothing much ever happens. The Reese Energy Consulting team in our Okla. City, Tulsa, Austin, and Houston offices are currently at work for energy majors, independents, and midstream operators to help them keep steps ahead of the changes that impact their bottom lines. We are revenue chasers and project tacklers with the heart of a quarterback. Here’s a quick look at what we’re up to now.

  • Oil and gas marketing
  • Midstream contract auditing ($20+ million uncovered)
  • Scheduling, nominations, and balancing
  • Gas measurement and sampling audits
  • Gathering, treating, compression
  • Field asset design and commissioning
  • Midstream and purchaser vetting and planning
  • Large client base in virtually every basin

We invite you to review our client list at https://reeseenergyconsulting.com/clients/ then send us an email or give us a shout at 405.216.8855 to discuss the changes facing you.

 

X Marks the Spot in Oklahoma

X Marks the Spot in Oklahoma

Snapping up underperforming oil and gas assets in Texas may have been the initial target for Xfuels to enter the biz from its native Alberta, but Okla., is soon to become the energy company’s first landing zone. Reese Energy Consulting today is following the latest announcement from Xfuels whose new U.S. subsidiary Cycle Oil and Gas has picked up 516 wells across 10 counties in northeast Okla., and southeast Kans. The stock-and-cash deal with Ardmore, Okla.-based Jubilee Exploration marks Xfuel’s largest acquisition to date and includes 375 pumping stations and a wide range of other equipment valued at $15 million. Most wells are currently low-producing or shut-in, making them ideal to leverage the company’s inhouse well services team and proprietary and licensed technologies to return distressed assets to profitability. First order of business will be to increase gas production from a cluster of 142 Jubilee wells in Okla., to 2.5 MMCFD within a year and 7.5 MMCFD in two. Xfuels expects to achieve revenues between $4.5 and $13.5 million from its Phase I development assuming a market price at or near $5 per MCF.

What do you think? Learn more about REC and our range of natural gas services and expertise at www.ReeseEnergyConsulting.com.

Xfuels Inc.

Xfuels, Inc. designs, builds, and operates regionally-integrated, small-to-midcap electricity and petroleum production facilities.
 

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Chief Among Them

Chief Among Them

In a 2019 article for D Magazine, Texas Wildcatter Trevor Rees-Jones self-described as “one of the hardest-headed people in the world,” crediting his stubborn streak for seeing him through the worst of oil and gas times. He launched Chief Oil & Gas in the late 90s, arriving early in the Barnett Shale which soon became the center of one of largest oil booms in U.S. history. Within eight years, Chief became the second-largest operator and fracker in the Barnett, and in 2006 Rees-Jones sold his assets there for $2.63 billion. Then, the mighty Marcellus called his name. Reese Energy Consulting today is following the latest news surrounding Chief Oil & Gas—one of the nation’s largest privately-owned gas producers—now said to be exploring a sale of its Marcellus position for more than $3 billion. Assets include 600,000 acres in northeastern Pa., and 1+ BCFD—more than 1% of all U.S. gas supply. Right timing seems to follow this former bankruptcy attorney who traded a court docket for a drilling rig, and we can’t wait to see where he lands next.

What do you think? Learn more about Reese Energy Consulting and our natural gas expertise and services at www.ReeseEnergyConsulting.com.

Chief Oil & Gas

Chief Oil & Gas is a company founded in Dallas, Texas in 1994 by Trevor Rees-Jones. Its primary holdings of natural gas were developed in the core areas of the Barnett Shale in Tarrant County, Denton County and Parker County.

www.chiefog.com

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