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561Oil & Gas NewsA Fracking Experiment Fails to Pump as Predicted
WSJ – By Bradley Olson Updated July 4, 2019— Two years ago, Encana Corp. unveiled a supersize fracking operation that many said would...
247Exploration‘Race to the Bottom:’ The U.S.-Russia Gas War Has Sent Prices Plummeting in Europe
By Katherine Dunn – Fortune – When the U.S. and Russia go head to head, that can mean cheaper prices—at least when it...
536ExplorationAre there really 4,000 DUC’s in the Permian? There might be less than you think.
By James Jang – Energent – For the many analysts and investors who monitor the energy sector, drilled-but-uncompleted well (DUC’s) counts are an important...
659Oil & Gas NewsThe Stigler Act Amendments of 2018
By Stephanie Moser Goins – Ball Morse Lowe, PLLC. – In a previous post, we discussed H.R. 2606, the bill that amends the...
285ExplorationBillionaire Carl Icahn steps up his fight with Occidental over Anadarko deal, wants 4 board seats
Reuters, via CNBC ~ Billionaire investor Carl Icahn on Wednesday, ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum...
671Oil & Gas NewsKansas Regulators Struggle with Record-High 22k Abandoned Oil and Gas Wells
By Tim Carpenter, The Hutchinson News ~ EUDORA — Judith Wells brought her car to a slow crawl on a gravel road...
8.8KOil & Gas NewsFormer SandRidge landman draws prison sentence in kickback scheme
By Jerry Bohnen, OKEnergytoday.com ~ A 40-year old former top landman for SandRidge Energy, Inc. drew a 21-month prison sentence in Oklahoma...
1.7KExplorationChisholm Oil and Gas, LLC and Gastar Exploration LLC Announce Merger
Chisholm Oil and Gas, LLC (“Chisholm”) of Tulsa, Oklahoma and Gastar Exploration LLC (“Gastar”) of Houston, Texas announced today that they have...
2.0KOil & Gas NewsInterest dims in Oklahoma shale play as drilling results disappoint
Reuters – David French It promised to be the next great shale play, but an oil-and-gas-rich area of central and south Oklahoma...
354ProductionHorizontally 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 and by unknown drilling type. Tight oil volumes...
Snippets
- Costly Saudi defences prove no match for drones, cruise missilesRIYADH/DUBAI, Sept 17 (Reuters) - Billions of dollars spent by Saudi Arabia on cutting edge Western military...RIYADH/DUBAI, Sept 17 (Reuters) - Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry.Read More
Saturday's assault on Saudi oil facilities that halved production has exposed how ill-prepared the Gulf state is to defend itself despite repeated attacks on vital assets during its four-and-a-half year foray into the war in neighboring Yemen.
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- Pioneer, Chevron Call On Industry, Others To Tackle Permian Basin FlaringFrom Hart Energy - Pressure by state officials on oil producers and pipeline companies...From Hart Energy - Pressure by state officials on oil producers and pipeline companies is likely needed to address the flaring problem in the Permian Basin, the head of a large Permian pure-play company said.Read More
Though natural gas pipelines providing additional takeaway capacity are welcomed, low natural gas prices, pipeline takeaway commitments and other economic factors remain an issue when it comes to flaring of gas, according to Pioneer Natural Resources Co. CEO Scott Sheffield.
“That’s the biggest issue we have to solve with the producers and with the pipeline companies,” Sheffield said during a recent Permian-focused event hosted by the Center for Strategic & International Studies. “And the states probably need to do a better job of putting more pressure on both groups of people, in my opinion, to solve that problem.”
Full Story - Subscription Required - Oil prices sink on report Saudi output will recover quickly MarketWatch Report: Oil futures dropped sharply on Tuesday, after registering one of...MarketWatch Report: Oil futures dropped sharply on Tuesday, after registering one of the sharpest rallies on record a day earlier, following a report that output from Saudi Arabia will be quick to recover from weekend attacks on major crude facilities which disabled more than half of the kingdom’s daily crude production level.Read More
The Saudis are close to restoring 70% of the 5.7 million barrels per day production lost after the attacks, Reuters reported, citing a top Saudi source briefed on the latest developments. The source also said output will be fully back online in the next two to three weeks.
West Texas Intermediate crude for October delivery CLV19, the U.S. benchmark contract, was down $3.78, or 6.07%, at $59.08 a barrel at 11 AM ET, after the largest daily gain for the most-active contract since Sept. 22, 2008, according to Dow Jones Market Data. WTI finished Monday’s session at its loftiest level since May 21, 2019. - Tulsa's SemGroup to be bought by Energy Transfer PartnersTULSA — Investors rushed to acquire SemGroup Corp. shares on Monday after it and Energy Transfer LP...TULSA — Investors rushed to acquire SemGroup Corp. shares on Monday after it and Energy Transfer LP announced a stock and cash merger transaction valued at about $5.1 billion before markets opened.Read More
The value of a SemGroup unit climbed by $6.22 to $16.50, up about 61% on the day.
The proposed deal, already unanimously approved by both boards, would give SemGroup unit holders $6.80 per unit, plus 0.7275 of an Energy Transfer unit — a cash and equity deal that values SemGroup at $17 a unit.
Read Full Story - US oil prices had their biggest spike in a decade after Saudi attack disrupts global supplyCNN - Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production...CNN - Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production over the weekend shocked markets and could disrupt the global supply of crude for some time.Read More
US oil futures jumped 14.7%, settling at $62.90 a barrel. It was the biggest spike since January 2009. Futures of Brent crude, the global benchmark, settled up 14.6% at $69.02 a barrel.
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1.0KExplorationHe Paid $1.50 an Acre for Barren Texas Land Now Worth $7 Billion
By Austin Weinstein – Bloomberg – So much of the Texas land in the...
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458ExplorationConcho Resources to sell strip of New Mexico assets for $925 million
(Reuters) – U.S. oil and gas producer Concho Resources Inc said on Tuesday it...
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349ExplorationAnalysis: SCOOP/STACK operators scale back rig activity by 40% so far in 2019
Denver — Operators in Oklahoma’s SCOOP/STACK, once one of the hottest US onshore plays outside...
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264ExplorationExxon Mobil Eyes Oil M&A as Clean Energy Shift Seen Taking Decades
By Kevin Crowley – Bloomberg – Exxon Mobil Corp. Chief Executive Officer Darren Woods is eyeing...
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239ExplorationT. Boone Pickens, larger-than-life energy tycoon and Oklahoma State benefactor, dies at 91
By Cheryl Hall – Dallas Morning News – T. Boone Pickens, legendary energy executive, philanthropist, ardent...
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199Oil & Gas NewsU.S. shale firms cut budgets, staff as oil-price outlook dims
ODESSA, Texas (Reuters) – Oil producers and their suppliers are cutting budgets, staffs and...
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193InvestingSaudi Arabia is dramatically changing its oil exports to China and the US
Natasha Turak – CNBC – Saudi Arabia has seriously ramped up its oil exports...
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104ExplorationGE to lose majority control of Baker Hughes with up to $3 billion share sale
(Reuters) – General Electric is looking to raise up to $3 billion in sale of...
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75InvestingSaudi stock market dives, crude futures to jump after drone attack on oil plants
PUBLISHED SUN, SEP 15 2019 Natasha Turak@NATASHATURAK – CNBC KEY POINTS Saudi Arabia’s stock...
