Since October, rig counts in the Fayetteville have been stable at around 30 units.  This trend is likely to continue since a majority of capital going into the play is directed at development drilling.  Southwestern Energy has been the most active operator with an average of 13 rigs in recent months.  ExxonMobil’s XTO subsidiary and Chesapeake have also been active in the play.  Its subsidiary contractor, Desoto Drilling, performs most of Southwestern’s drilling.  Other contractors active in the play include Union Drilling, Nomac and Keen Energy Services.

Persistently low natural gas prices have weighed on drilling activity in the Arkoma Woodford, the legacy Woodford play, in recent months.  Since yearend, the number of rigs drilling in the play has fallen by four to 18 rigs.  On a positive note, rig levels may find support now that two majors, BP and ExxonMobil, are some of the most active in the play.  Cactus has been the most active contract driller in recent months with seven rigs.

ExxonMobil Corporation has completed its merger agreement with XTO Energy, Inc. The new organization will continue to be known as XTO Energy, Inc. and maintain its headquarters in Fort Worth, Texas.  Jack Williams, a former Vice President of ExxonMobil Development Co., has been elected President of XTO and Keith Hutton, formerly XTO’s Chief Executive Officer, is Executive Vice President of the new organization.

Gulf Coast Western confirmed an oil and gas discovery in their Opelousas field in St. Landry Parish, LA.   Flow tests resulted in a production rate of approximately 672 bopd and 3.2 mcf/d.

BP reports that two systems continue to collect oil and gas flowing from the Deepwater Horizon’s failed blow-out preventer (BOP) and transport them to vessels on the surface. Meanwhile, rough seas expected from Tropical Storm Alex could set back BP's efforts to increase subsea oil collection capacity at the gushing Macondo well by about a week, but should not interrupt current collection methods or drilling operations for two relief wells.

ExxonMobil Corporation has completed its merger agreement with XTO Energy, Inc. The new organization will continue to be known as XTO Energy, Inc. and maintain its headquarters in Fort Worth, Texas.  Jack Williams, a former Vice President of ExxonMobil Development Co., has been elected President of XTO and Keith Hutton, formerly XTO’s Chief Executive Officer, is Executive Vice President of the new organization.

Gulf Coast Western confirmed an oil and gas discovery in their Opelousas field in St. Landry Parish, LA.   Flow tests resulted in a production rate of approximately 672 bopd and 3.2 mcf/d.

BP reports that two systems continue to collect oil and gas flowing from the Deepwater Horizon’s failed blow-out preventer (BOP) and transport them to vessels on the surface. Meanwhile, rough seas expected from Tropical Storm Alex could set back BP's efforts to increase subsea oil collection capacity at the gushing Macondo well by about a week, but should not interrupt current collection methods or drilling operations for two relief wells.