Roan Resources Enters Into Definitive Merger Agreement to Be Acquired by Citizen Energy

And another one bites the dust. Seems more & more companies are figuring out that these horizontal wells deplete much faster than anyone believed and most have inflated their reserves to keep getting investor dollars, but the investors have dried up. I saw someone on here post that these horizontal wells will last 30-60 years.

Filings at the OCC are way down so it is going to be a long winter in the oil patch in Oklahoma. But this happens all the time so just another bump in the road.

Hope folks haven’t spent all that royalty money before it comes in.

Todd M Baker