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299ExplorationPermian giant Pioneer Natural Resources cuts 160 jobs at Irving HQ and 70 in West Texas
Dom DiFurio, Dallas Morning News – Pioneer Natural Resources laid off 230 employees Tuesday as the Irving-based driller works to cut $100...
483ExplorationRed Wolf Natural Resources Announces Acquisition from Apache Corporation
Red Wolf Natural Resources, LLC (“Red Wolf”), a newly formed oil and gas exploration and production company, today announced it has acquired...
430ExplorationThe San Juan Basin- Coming Back in Style?
Over 10 years ago, in 2008, the natural gas-heavy San Juan, centered around the town of Farmington, was the hot oil and...
283ExplorationWildcatter: The Story of Michel T. Halbouty and the Search for Oil
Michel Thomas Halbouty (21 June 1909 in Beaumont, Texas – 6 November 2004 in Houston, Texas) was an American geologist, petroleum engineer, and wildcatter. Credited with discovering more than...
324ProductionU.S. shale output to hit new record of 8.49 million bpd in June: EIA
NEW YORK (Reuters) – U.S. oil output from seven major shale formations is expected to rise by about 83,000 barrels per day...
2.2KRig CountWeekly Rig Count Update: May 10, 2019
Stay updated on oil and gas stories, prices and the weekly rig count. Sign up for our Weekly Newsletter HERE. US rig...
9.2KScoop & StackAffidavits of Death and Heirship in Oklahoma
Affidavits of Death and Heirship – Statutory Requirements for Marketability By: Jordan D. Volino, Esq. and J. David Hampton, B.A., J.D. During the...
173ExplorationChevron walks away from Anadarko Petroleum deal, will collect $1 billion breakup fee
Chevron said Thursday it will not submit a new offer to acquire Anadarko Petroleum, walking away from the deal after Occidental Petroleum pulled ahead in a...
884ProductionCONTINENTAL FILES CIVIL ACTION AGAINST MULTIPLE DEFENDANTS IN MINERAL BUYING SCAM
Oklahoma City-based Continental Resources filed a petition on May 1st, in District Court in Oklahoma County, alleging that multiple defendants and former...
254ExplorationThe number of DUC’s is going higher
The number of drilled but uncompleted wells in the United States continues to climb Source: U.S. Energy Information Administration, Drilling Productivity Report The number...
Snippets
- 'Permania' has cooled; acquisition opportunities remain"Permania" has cooled and prices being paid for oil and gas acreage have fallen from levels that generated..."Permania" has cooled and prices being paid for oil and gas acreage have fallen from levels that generated international headlines. However, the recent Occidental-Chevron tussle over buying Anadarko has raised questions about future deals and how Permian acreage is currently being valued.Read More
"We saw people paying upwards of $50,000 an acre; now it's about $15,000 an acre," said Andrew Dittmar, senior analyst with Drillinginfo, in a phone interview.
Today, "The Big 3" operators – Concho Resources, Diamondback Energy and Pioneer Natural Resources – top acreage valuation, with each averaging more than $20,000 per acre. Diamondback leads with valuations of a little more than $22,000 per acre.
On average, Delaware Basin wells are more productive and outperform Midland Basin wells, said Krolczyk.
MRT - Read Full Story - New Mexico could see $1.3B from oil windfallNew Mexico could be getting more than a billion dollars in tax revenue next year thanks...New Mexico could be getting more than a billion dollars in tax revenue next year thanks to the oil boom.Read More
According to the Santa Fe New Mexican, State Senate Finance Committee Chairman John Arthur Smith explained to an interim legislative transportation subcommittee that the state is on track to rake in anywhere from $1.1 to $1.3 billion in 2020 unless the international scene changes. Crude oil prices dropped earlier this week to less than $50 per barrel, which is due in part to fears of a trade war with China.
However, late in the week oil prices jumped to over $52 a barrel.
- ConocoPhillips gears up for heavy round of Eagle Ford projectsOil giant ConocoPhillips is gearing up for a large round of horizontal drilling on three...Oil giant ConocoPhillips is gearing up for a large round of horizontal drilling on three leases in the Eagle Ford Shale of South Texas.Read More
The company’s subsidiary, Burlington Resources, is seeking permission from the Railroad Commission of Texas to drill 13 wells in oil-rich DeWitt and Karnes counties. ConoocoPhillips plans to drill 10 horizontal wells divided between its J Rossett and Mumme-Schendel-Maron lease in DeWitt County and three more on its Korth Vickers lease in neighboring Karnes County.
The wells target the Eagleville field of the Eagle Ford geological layer at total depth of 17,000 feet. So far this year, ConocoPhillips has filed for 80 drilling permits — all of them for projects in South Texas. - Roan Resources Provides UpdatesRoan Resources, Inc. (ROAN) recently announced it is positively updating guidance for the second quarter...Roan Resources, Inc. (ROAN) recently announced it is positively updating guidance for the second quarter of 2019.Read More
Specifically, the Company anticipates second-quarter production to exceed 50 thousand barrels of oil equivalent (MBoe) per day, which compares to adjusted guidance of approximately 49 MBoe/d, when accounting for ethane rejection(1).
Additionally, due to drilling and completion costs continuing to trend lower, the Company is projecting CAPEX to come in approximately 10% below original second quarter guidance of $155 million.
The Mad Play unit in Canadian County, along with the Mayes wells from the Earl (Candian County) and Victory Slide (Grady County) units, continue to be strong producing wells. Updated results for these wells are as follows:
4-well Mad Play unit had an average per well 30-day IP rate of 1,602 Boe/d (44% oil, 20% NGLs, 36% gas) from a normalized 10,000-foot lateral
3 Mayes wells from the Earl unit had an average per well 30-day IP of 1,466 Boe/d (39% oil, 24% NGLs, 37% gas) from a normalized 10,000-foot lateral
2 Mayes wells from the Victory Slide pad had an average per well 30-day IP rate of 1,109 Boe/d (71% oil, 14% NGLs, 15% gas) from a normalized 10,000-foot lateral - Northeast needs new pipelines to meet increasing LNG demandIncreased demand spurred by new liquefaction terminals will increase the need for new pipelines in the...Increased demand spurred by new liquefaction terminals will increase the need for new pipelines in the Northeast, a region where it is often difficult to increase capacity, industry leaders heard at an LDC Gas Forums conference in Boston. "We may have technology that far outweighs our ability to use it," says Pat McKinnon, an associate with Euler Hermes Energy.Read More
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1.5KExploration
Rig Count Update: June 7, 2019
Stay updated on oil and gas stories, prices and the weekly rig count. Sign...
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1.0KExplorationJerry Jones and Comstock Resources Score Big with the Purchase of Covey Park Energy for $2.2 Billion
Dallas Cowboys owner Jerry Jones strengthened his company Comstock Resources Inc’s grip on one...
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679Oil & Gas NewsInterest dims in Oklahoma shale play as drilling results disappoint
Reuters – David French It promised to be the next great shale play, but...
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144ProductionHorizontally drilled wells dominate U.S. tight formation production
Source: U.S. Energy Information Administration Note: Vertical well production also includes wells created by directional drilling...
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138ProductionRecord Number Of VLCCs Loading At Louisiana Export Port: sources
By Collin Eaton, HOUSTON (Reuters)–Medium-sour crude from the U.S. Gulf of Mexico are being...
