Efficiency up, rig count down EnerCom has released the latest Effective Rig Count edition, examining the state of drilling activity in major shale basins. The Effective Rig Count fell slightly in October, dropping from 2,219 to 2,212. While output per rig increased, this was outweighed by the drop in active rigs. The total number of rigs operational in major shale
EERC drops by 13 EnerCom released its monthly EnerCom Effective Rig Count today, for August, reporting an equivalent 2,353 rigs active in the U.S., down from 2,366 last month. The Effective Rig Count adjusts reported rig counts for increasing efficiency in drilling and completions. Stubborn sub-$50 oil prices have caused drilling activity to decline slightly, meaning the effective rig count
Kalnin Ventures: 40%-50% of all the gas produced in the Marcellus is non-operated At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Kalnin Ventures Managing Director Chris Kalnin. Kalnin Ventures is a non-operator that invests in proven energy operations. Kalnin is focused on the Marcellus, but the company is
Anadarko EERC is 404, 2.5 times higher than reported rig count EnerCom has added the Anadarko Basin to the Effective Rig Count, bringing in the second most active basin in the U.S. With the addition of the Anadarko Basin, the EERC is now 2,407, well above peak levels in 2014. In the Anadarko Basin, the reported rig count is 129,
EnerCom, Inc. has confirmed 16 leaders in technical innovation for oil and gas exploration and production will be presenting at the EnerCom Oilfield Tech & Innovation Day, on Aug. 17 in Denver, Colorado. It’s a day that focuses on the technology itself “EnerCom’s Oilfield Tech & Innovation Day will focus on the technology,” said EnerCom President Ken Caiani. “Our goal
Valiant Midstream is Tailwater’s first commitment in its new midstream fund – Energy Fund III Oklahoma’s Valiant Midstream has secured a $150 million commitment from Dallas-based Tailwater Capital, an energy-focused private equity firm. Valiant Midstream provides solutions to midstream customers in the Mid-Continent and across North America, including gas gathering, processing, treating and compression, crude oil gathering, storage and transportation,
Kayne Anderson Capital Advisors, Tailwater Capital, and OFS Energy Fund will provide a private equity energy perspective at EnerCom’s The Oil & Gas Conference® 22 Kayne Anderson, Tailwater, and OFS are panelists at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22. At the conference, the private equity firms will discuss their unique perspectives on capital formation
Permian EERC pushes to 1,135 EnerCom released its monthly EnerCom Effective Rig Count today. The Effective Rig Count now reports an equivalent 2,015 rigs active in the U.S., up from 1954 last month. The Effective Rig Count adjusts reported rig counts for increasing efficiency in drilling and completions. There are significantly fewer rigs active in the U.S. today than in
CPG likes Uinta basin horizontals Williston and Uinta basin light oil producer Crescent Point Energy Corp. (ticker: CPG) renewed its unsecured, covenant-based credit facilities totaling $3.6 billion, with a maturity date extension to June of 2020. The company reported that as at June 26, 2017, it estimates unutilized credit capacity of approximately $1.5 billion, with no material near-term debt maturities,
Current rigs generating 3x more production than Jan 2014 rigs EnerCom released its monthly EnerCom Effective Rig Count today. The Effective Rig Count reports an equivalent of 1,939 rigs active in the U.S. in May, up from 1,854 last month. Launched in January, the EnerCom Effective Rig Count seeks to account for improved productivity in recent field development. This is
Highest rig count since April 2015 U.S. rigs, driven by shale activity, continued their relentless climb this week, according to Baker Hughes’ Weekly Rig Count. The total number of rigs active in the U.S. increased by 11, bringing the U.S. total to 927 rigs. This is 513 more than were active at this point last year, and is the highest
Summit Midstream Partners, LP (ticker: SMLP) said its subsidiary Summit Midstream Holdings, LLC has executed an amendment and extension of its $1.25 billion revolving credit facility. The maturity date of the revolving credit facility was extended by approximately 3.5 years, from November 2018 to May 2022. The facility includes a $250.0 million accordion, and has the same pricing and a
