Post Tagged with: "fracing"

Diamondback Energy cuts budget again as oil prices continue to sink

Diamondback Energy cuts budget again as oil prices continue to sink

Houston Chronicle


Midland exploration and production company Diamondback Energy is cutting its 2020 drilling budget for a second time this month as crude oil continue to fall to nearly 20-year lows.

In a statement issued late last week, Diamondback has …

Source: Houston Chronicle

BJ Services develops natural gas-fired turbine for frac crews

Houston Chronicle


Tomball oilfield service company BJ Services has developed a new turbine that can use natural gas from a drilling site to provide power to hydraulic fracturing crews.

BJ Services said Tuesday that its natural gas-fired Titan turbine is …

Source: Houston Chronicle

Gasoline price fears stoked by Iran may still roil election

Houston Chronicle


Donald Trump’s decision to authorize the killing of an Iranian general and reignite Middle East tensions briefly roiled energy markets and underscored a U.S. political reality: Higher gasoline prices can tip elections.

The president, who is counting on …

January 10, 2020 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, Fracing
Source: Houston Chronicle

Frac sand supplier U.S. Silica raises prices on its other products

Houston Chronicle


Citing rising demand and production costs, Katy frac sand company U.S. Silica is raising the price of its non-frac sand products.

In a Tuesday morning statement, U.S. Silicia that it is raising prices for most of its products …

December 3, 2019 - 3:00 pm Closing Bell Story‎, Economy, Energy News, Fracing, Jobs, Uncategorized
Billionaire fracking brothers hammered by Permian holdings

Billionaire fracking brothers hammered by Permian holdings

Houston Chronicle


Farris and Dan Wilks hit pay dirt during the shale boom when they sold their Texas fracking company in 2011 for $3.5 billion, giving them ample resources to fund their interests in land, politics and religion.

But many …

Source: ussilica.com

U.S. Silica sees lower frac sand demand, shares tumble

Source: Reuters


(Reuters) – U.S. Silica Holdings shares plunged 33% after the frac sand miner said it expects demand to slow in the fourth quarter and reported a bigger-than-expected quarterly loss on Tuesday, weighed down by lower prices.

Prices for …

Frackers Go Electric as Negative Gas Prices Spur Switch 

Frackers Go Electric as Negative Gas Prices Spur Switch 

From Bloomberg 

Move may help producers cut costs amid investor pressure 

Thrifty drillers have found a new use for the glut of natural gas that’s sent prices for the fuel below zero in America’s biggest shale patch: Use it to

June 27, 2019 - 10:01 am Closing Bell Story‎, Energy News, Fracing
Waste to Water: Oil and Gas Industry Looks to Mitigate Water Waste During Boom

Waste to Water: Oil and Gas Industry Looks to Mitigate Water Waste During Boom

Special Report From the Carlsbad Current-Argus

In New Mexico, hydraulic fracturing taxes a resource perpetually scarce in the desert region: water.

Hydraulic fracturing, or fracking as it is commonly called, blasts vast amounts of water, sand and chemicals through underground …

May 30, 2019 - 4:39 pm Closing Bell Story‎, Energy News, Fracing
Oil Price Drop Could Signal Lower Volumes on Horizon for Freight Haulers

Oil Price Drop Could Signal Lower Volumes on Horizon for Freight Haulers

Study: for each well that is drilled, up to 6,000 truckloads of freight haul business are generated

From FreightWaves

Since the beginning of October, the price of oil has been dropping steadily. As of Friday’s close, crude oil benchmark WTI …

Final Week of Voting in Colorado: COGCC Hears from Both Sides of Proposition 112 Issue

Final Week of Voting in Colorado: COGCC Hears from Both Sides of Proposition 112 Issue

Ballots counted are rising: Colorado Sec. of State reports 801,000 ballots have been received to date - Dems and Republicans close gap to within 1,000 of one another – one week remains 
With only one week to go before final

Colorado Ballots Arrive During Massive TV-Radio Ad Blitz

Colorado Ballots Arrive During Massive TV-Radio Ad Blitz

Both sides of 112 are advertising on Spotify as ballots are being delivered
The advertising messages to vote ‘No on Prop 112’ are everywhere you look and listen on Denver area TV and radio.

The stakes are high for the

COGCC v. Martinez Colorado Supreme Court - photo: Oil & Gas 360

This was the Scene at the Colorado Supreme Court during the Martinez Case Oral Arguments

Just 500 feet from the courthouse, a pro-oil rally at the capitol steps asked people to "Vote No on Proposition 112" 
Below: summary of the Martinez case and breakdown of the oral arguments
It was a busy day for oil

UK Resumes Fracing After 7-Year Ban, Eyeing Energy Independence

UK Resumes Fracing After 7-Year Ban, Eyeing Energy Independence

EY study shows huge job, economic boost to Britain from fracing

From Sputnik News

Amid Brexit-related concerns and a nascent resurgence in domestic manufacturing, the UK moves to resume shale gas production in a bid for a greater energy sustainability. …

Colorado’s Shale Boom Sparks a Ballot Box Threat

Colorado’s Shale Boom Sparks a Ballot Box Threat

November election for governor could mark a turning point in the long-running battle over drilling in Colorado

From

The Denver Post

For Colorado shale drillers, 2018’s been a record-setter for pumping oil and natural gas. It may also end up …

Activists Harass New Mexico County Commissioners for Voting Down Proposed Frac Rules

Activists Harass New Mexico County Commissioners for Voting Down Proposed Frac Rules

Activists call commissioners ‘baby killers’ as local control of oil and gas brings indigestion to Sandoval County Commission meetings

Commissioners are stuck in between an animated anti-oil and gas movement and concerns about their county’s economic well-being 

From the Daily

July 10, 2018 - 1:14 pm Closing Bell Story‎, Fracing, Regulatory
Strategic Oil & Gas to Present at EnerCom’s The Oil & Gas Conference® August 19-23, 2018

Strategic Oil & Gas to Present at EnerCom’s The Oil & Gas Conference® August 19-23, 2018

Strategic Oil & Gas Ltd. (ticker: SOG) is an oil and gas company based in Calgary, Canada.

In the first quarter of 2018, Strategic drilled two horizontal Muskeg development wells at west Marlowe in northwestern Alberta. The wells commenced production …

Lilis Adds Crude Gathering Capacity

Lilis Adds Crude Gathering Capacity

Permian E&P Lilis Energy, Inc. (ticker: LLEX) has entered into a crude oil gathering agreement with Salt Creek Midstream, LLC. Salt Creek’s system will be constructed, managed and operated by ARM Midstream Management, LLC. Construction of the project is expected …

Rosehill Resources Produced More Than 18,000 BOEPD in April 2018

Rosehill Resources Produced More Than 18,000 BOEPD in April 2018

Rosehill cuts Loving County spud-to-TD time in half

Rosehill Resources Inc. (ticker: ROSE) reported a net loss attributable to Rosehill of $1.3 million, or $(0.22) per share. Rosehill said this loss included an $18.2 million non-cash, pre-tax loss on commodity …

Goodrich Petroleum: Focused on Haynesville through 2019

Goodrich Petroleum: Focused on Haynesville through 2019

All CapEx in 2018 and 2019 focused on Haynesville

Goodrich Petroleum Corporation (ticker: GDP) had a net loss of $5.3 million in the first quarter of 2018, or $(0.47) per share. Capital expenditures totaled $21 million in the quarter, of …

We Can Ramp Production Back Up to Pre-Cut Levels in 60 Days: Rosneft

We Can Ramp Production Back Up to Pre-Cut Levels in 60 Days: Rosneft

Russian giant Rosneft Oil Company (ticker: ROSN) reported a Q1 2018 net income of USD$1.5 billion (RUB$81 billion) with a spending budget of $3.9 billion (RUB$223 billion).

More multistage fracs, horizontal wells

The company produced 5.71 MMBOE in Q1 2018. …

Lonestar Resources Hits 10 MBOEPD in April, Increases Full Year Guidance

Lonestar Resources Hits 10 MBOEPD in April, Increases Full Year Guidance

Texas-based E&P Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to its common stockholders of $18.5 million, or ($0.75) per share in Q1 2018. The company produced 7,777 BOEPD on average in the quarter.

CEO Frank D. …

Going Gangbusters in the STACK: Alta Mesa Resources Running 8 Rigs, Expects 170+ Wells in 2018

Going Gangbusters in the STACK: Alta Mesa Resources Running 8 Rigs, Expects 170+ Wells in 2018

Alta Mesa Resources, Inc. (ticker: AMR) produced 24,000 BOEPD in Q1 2018 and exited the quarter with average net production of 25,800 BOEPD in March. Overall, total production for the first quarter of 2018 was 2,162 MBOE. According to Alta …

Courtesy of Extraction Oil & Gas, Inc.

Extraction Oil & Gas Targets Positive All-In Free Cashflow in 2H 2018

Extraction Oil & Gas, Inc. (ticker: XOG) reported a net loss of $52 million for Q1 2018, or $(0.32) per share. First quarter average net sales volumes were 68,874 BOEPD, including 36,052 BPD of crude oil, an increase of 106% …

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

Occidental Petroleum Corporation (ticker: OXY) reported a core income of $708 million for the first quarter of 2018, or $0.92 per diluted share. Total average daily production volumes were 609,000 BOE for the first quarter of 2018, compared to 621,000 …

Bonanza Creek Energy Bumps XRL Type Curves by 35%

Bonanza Creek Energy Bumps XRL Type Curves by 35%

Bonanza Creek Energy, Inc. (ticker: BCEI) posted a net income of $13.9 million, or $0.68 per share for the first quarter of 2018. Last year, the company had a net loss of $94.3 million, or $(1.91) per diluted share – …

Courtesy of RSP Permian

Futures Curve with Severe Backwardation is Laughable: Papa

CDEV likes oil’s prospects and New Mexico well results

Centennial Resource Development, Inc. (ticker: CDEV) reported a net income of $66.1 million, or $0.25 per share for Q1 2018. The company’s average daily net production was 54,069 BOEPD for the …

Courtesy of Liberty Oilfield Services Inc.

Liberty Oilfield Services Grows Frac Fleet

Liberty Oilfield Services Inc. (ticker: LBRT) reported a net income of $54 million in Q1 2018 and the company deployed its frac fleets 20 and 21, under dedicated arrangements with existing customers in the quarter.

For the first quarter of …

Multi-Basin Contango Pushes Permian Action – Looking for Eight More Southern Del Wells

Multi-Basin Contango Pushes Permian Action – Looking for Eight More Southern Del Wells

Contango Oil & Gas Company (ticker: MCF) posted a net income of $0.9 million, or $0.04 per share for Q1 2018. Production for the first quarter of 2018 was approximately 4.5 Bcfe, or 50.0 MMcfe/d.

President and CEO Allan D. …

Newfield and Continental Tout SCOOP/STACK, Bakken

Newfield and Continental Tout SCOOP/STACK, Bakken

Newfield’s SCOOP/STACK operations pinned to future growth; Williston Basin infill projects look to deliver $100 million of free cash flow in 2018

Newfield Exploration Company (ticker: NFX) had record net production during Q1 2018, with SCOOP/STACK net production averaging 117,500 …

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Earns $90 Million, Production Up 39%

RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017.

Drilling

The company …