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(Oil & Gas 360) –HOUSTON, TX, April 02, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. The first well was spud on April 1, 2025, utilizing Precision E-Drilling Rig 461, as part of the Companys continued strategy to expand production and enhance operational efficiencies in the Denver-Julesburg (DJ) Basin.
2023), the Texas Supreme Court held that the lessee could not invoke a force majeure clause to save its oil and gas leases when it inadvertently scheduled its operations to begin after the requisite deadline. MRC did not notice its error until approximately two weeks after May 21, 2017, at which point it had not yet spudded the new well.
The company started the year with 9 active rigs , scaled back to 7 rigs by the end of Q1 , and plans to operate just 6 rigs for the remainder of the year. SM Energys Drilling Trends: January 2023 to May 2025 Using public drilling data for SM Energy wells in Texas, we grouped spud activity by month from January 2023 onward. August 16 6.3
We remain on track to spud the well this quarter and are looking forward to unlocking the significant potential of the Damara Fold Belt.” ” DRILLING PLANS UPDATE Pre-construction activities are continuing on schedule and the pre-drill evaluation is complete. Prospect I is noted as location 63 in the NSAI report. (1)
Ryan Lance, ConocoPhillips Operators are drilling fewer wells, but doing so with purposeon multi-well pads, with simul-frac designs and AI-enhanced execution. Operators have tens of thousands of drilling locations that remain profitable even with WTI at or below $40. Its a factory model. Darren Woods, ExxonMobil Our U.S.
In Cannisnia Plantation , the Louisiana Second Circuit faced the issue of whether a mineral servitude owner conducted good faith operations sufficient to interrupt the prescription of non-use of a mineral servitude. A well was spud on March 28, 2006. Cannisnia Plantation, LLC v.
In these transactions, the Drilling Party pays for or “carries” all or a substantial portion of the Lease Party’s share of the costs of drilling and completing one or more wells on the leases (“Earning Wells”). The Five Lessons 1. Take advantage of the geology.
and (2) Does the contract provide or do the parties expect that a vessel will play a substantial role in the completion of the contract? Turning to the second test, the court noted that the specific work order for the P&A job called for the use of three vessels — a supply barge, a tug, and the spud barge OB 808.
In Petro-Chem Operating Co., 1] In the case, an operator initiated a concursus action seeking to resolve ownership interest in minerals underlying property on which it was operating. Flat River Farms, L.L.C. , Flat River Farms, L.L.C. , 12] In its analysis, the Court first looked to the pertinent language of La.
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