Post Tagged with: "Hydraulic fracturing"

Source: Houston Chronicle

FTS International furloughs hydraulic fracturing crews, cuts executive pay

Houston Chronicle


Fort Worth oilfield service company FTS International had a full calendar for its hydraulic fracturing crews two weeks ago but is now furloughing employees as crude oil prices continue to fall and exploration and production companies continue to …

March 24, 2020 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, Fracing, Jobs
Schlumberger posts $10.1 billion loss in 2019

Schlumberger posts $10.1 billion loss in 2019

Houston Chronicle


Schlumberger, the largest oil-field service company in the world, lost $10.1 billion in 2019 as a result of hefty write-downs on two past acquisitions and weakening demand for hydraulic fracturing services in the United States and Canada.

The …

January 17, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Finance, Oilfield Services
Source: Houston Chronicle

Basic Energy Services exits hyrdaulic fracturing business

Houston Chronicle


Fort Worth oilfield service company Basic Energy Services is exiting the hydraulic fracturing business amid the ongoing shale slump.

In a Thursday morning statement, the company reported that it is selling almost all of its assets in the …

December 13, 2019 - 2:00 pm Closing Bell Story‎, Energy News, Oil & Gas Jobs
Photo: University Of Texas At Austin

New study blames some Permian Basin earthquakes on fracking

Source: Houston Chronicle


A new study from the University of Texas at Austin is blaming hydraulic fracturing activity on some earthquakes in the Permian Basin of West Texas.

In a study released Tuesday afternoon, scientists with the TexNet Seismic Monitoring …

October 16, 2019 - 9:01 am Closing Bell Story‎, Crude Oil News, Fracing
Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

Source: Ithaca Energy Limited

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters


Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.

Exxon’s topped analysts’ reduced estimates for the quarter but net …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Source: Occidental Petroleum

Occidental Petroleum Profit Falls on Low Gas Prices, Derivative Contracts

From Reuters


Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to …

Texas Shale Pioneers Struggle to Appease Investors

Texas Shale Pioneers Struggle to Appease Investors

From Reuters


Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.

Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing …

Argentina’s June Gas Production Hits Highest Level in 11 Years

Argentina’s June Gas Production Hits Highest Level in 11 Years

From Reuters


Argentina’s gas production rose to 140 million cubic meters a day in June, the highest level in 11 years, the government said on Saturday.

That amount represented growth of 5.8% compared with the same period last year.

Argentina’s …

Source: Wintershall Dea

Wintershall Partners with ConocoPhillips in Argentina’s Vaca Muerta

By Tyler Losier, Energy Reporter, Oil & Gas 360

German E&P Wintershall Dea teams up with ConocoPhillips to develop Argentina’s Neuquén Basin
Wintershall Dea, a German-based E&P with a global asset portfolio, has signed a sales and purchase agreement (SPA)

The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

Pennsylvania Had Record Year for Natural Gas Production

Pennsylvania Had Record Year for Natural Gas Production

From Trib Live


Pennsylvania had a record year for natural gas production in 2018, the state Department of Environmental Protection said on Wednesday.

Unconventional well operators produced 6.1 trillion cubic feet of natural gas in 2018 — an increase of …

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

By Tyler Losier, Energy Reporter, Oil & Gas 360


The United States has been a net exporter of natural gas since 2017

In the United States, natural gas is one of the most prevalent sources of energy, and according to

Source: U.S. Well Services

U.S. Well Services Deploys Clean Fleet to Permian

By Tyler Losier, Energy Reporter, Oil & Gas 360

PowerPath technology will be utilized at 16 wells
U.S. Well Services (stock ticker: USWS) has deployed its all-electric hydraulic fracturing Clean Fleet, powered by a technology it calls PowerPath, to the

Equals to Merge

Equals to Merge

By Tyler Losier, Energy Reporter, Oil & Gas 360

Oilfield service consolidation rolls on
C&J Energy Services (stock ticker: CJ) and Keane Group, Inc. (stock ticker: FRAC) have entered into a definitive agreement to combine in an all-stock merger of

Source: Federal Reserve Bank of Dallas

Dallas Fed: Oil Companies Need $50 per Barrel to Break Even

Average breakeven fell 4% over the past year
With the price of oil in a pretty constant state of volatility as of late, the breakeven point for crude is an important number to keep in mind.

According to the Federal

Oil prices turned firmly lower during midday trading on Tuesday. Crude futures were little changed earlier in the session, depressed by a report of record Saudi production but supported by expectations that oil exporters would agree to cut output at an OPEC meeting next week. Oil & Gas 360

United Nations Seems a Bit Fearful that Shale Gas Will Be What Achieves Global Prosperity

New UN report warns members to approach hydraulic fracturing with caution; says don’t invest in shale at the expense of renewables

The United Nations Conference on Trade and Development has published a new report looking at the global shale gas …

The Crucial Importance of Water Handling in Oilfield Operations – An Oil & Gas 360® Special Report

The Crucial Importance of Water Handling in Oilfield Operations – An Oil & Gas 360® Special Report

Water is not a traded commodity in the U.S., like iron ore, copper or coal, but it has become a critical factor to the companies that produce oil and gas from North America’s shale basins 

One of the biggest environmental …

Liberty Oilfield Services:  Extra Loud Data, Extra Quiet Fleet

Liberty Oilfield Services:  Extra Loud Data, Extra Quiet Fleet

We believe we can optimize completions with data, rather than trial and error – Liberty Oilfield Services President Ron Gusek

Liberty Oilfield Services has a few tricks up its sleeve that allow its frac fleet to operate in quiet mode …

Shale Drilling has Contributed $64 Billion in Economic Benefits Nationwide – University of Chicago

Shale Drilling has Contributed $64 Billion in Economic Benefits Nationwide – University of Chicago

Nationwide study finds that, on average, economic pros outweigh the cons in hydraulic fracturing

A study published by the Energy Policy Institute at the University of Chicago (EPIC) this month found that, on average, the benefits experienced by communities from …

Colorado Voters Decide to “Raise the Bar”

Colorado Voters Decide to “Raise the Bar”

Colorado passes Amendment 71, which would require 2% of voters from each of its Senate districts to sign petitions for constitutional changes, including future measures attempting to ban hydraulic fracturing

Colorado voters decided to pass Amendment 71 – or Raise …

Source: http://www.gazprom.com/press/gallery/events/649250/

Gazprom is the First Russian Company to Frac a Horizontal Well Start to Finish

Gazprom Neft completes nine-stage frac job in the Bazhenov formation, but is the formation economic?

The oil production arm of Russia’s state-run gas giant Gazprom (ticker: OGZPY) announced this week that the company completed a nine-stage horizontal well in the …

Trump: Maybe We Should Leave Fracing Up to the Voters

Trump: Maybe We Should Leave Fracing Up to the Voters

Three Colorado Ballot Proposals Could Stop or Reduce Oil & Gas Development

Three Colorado Ballot Proposals Could Stop or Reduce Oil & Gas Development

98,500 Valid Colorado Voter Signatures Due in 60 Days

While a November voter approval for a proposed Colorado constitutional amendment posed by initiative #78 would effectively put an end to new shale development activities in the state, there are two …

Edge of the Wattenberg: Colorado: Weld County Just Created its Own Oil & Gas Department

Colo. Initiative #78: Better than a 50/50 Shot of Reaching the Ballot

Oil & Gas killing amendment could very well be in the hands of voters in November: Wells Fargo

On a conference call hosted by Wells Fargo today regarding the possible battle over the future of fracing in Colorado, the crystal …

U.K. Approves Western Europe’s First Fracing Permit in Five Years

U.K. Approves Western Europe’s First Fracing Permit in Five Years

The North Yorkshire County Council approved a fracing permit for an existing well

Privately held Third Energy received the first approval to use hydraulic fracturing in Western Europe since 2011 this week. The North Yorkshire County Council voted 7-4 allow …

Wyoming Governor Matt Mead Discusses Federal Oil and Gas Regulation with Oil & Gas 360®

Wyoming Governor Matt Mead Discusses Federal Oil and Gas Regulation with Oil & Gas 360®

The battle over oil and gas regulation heats up in Wyoming – states v. feds

The Department of Interior’s Bureau of Land Management recently filed in the 10th Circuit Court of Appeals looking to end an injunction placed against …

BLM Appeals Wyoming Judge’s Injunction to Halt BLM’s New Frac Rules

BLM Appeals Wyoming Judge’s Injunction to Halt BLM’s New Frac Rules

The Department of Interior’s fracing regulations paused by Wyoming judge

A group including several states and Native American tribes filed their final briefs with a Wyoming judge today to stop new federal rules regarding hydraulic fracturing. The U.S. Department of …

The Anti-Fracing Battle Heats Up in Colorado

The Anti-Fracing Battle Heats Up in Colorado

A ballot initiative that would create 2,500 foot setbacks is approved for signature collection

Proposed ballot measure 78 was approved for signature gathering by the Colorado Secretary of State’s office Friday. The measure would create a minimum distance of 2,500 …