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US Upstream week in brief: BP announces monster Mancos well in San Juan Basin
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Report summary
BP turned heads this week after announcing results from its first Mancos Shale horizontal in the San Juan Basin. The NEBU 602 Com 1H well recorded an IP30 rate of 12.9 mmcfd, surpassing the company's initial expectations. Further de-risking is will be needed to prove the play's extent, but could it revive activity in the San Juan Basin? Concho Resources adds strategic bolt-on acreage in its Northern Midland position for $600 million. Rockcliff Energy acquires Samson's East Texas/Louisiana assets for $525 million. Midland GORs on the rise. Potential US sanctions on Venezuelan oil sector.
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