EIA’s Drilling Productivity Report (DPR) for April has now been released. The DPR takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place. It uses recent
Post Tagged with: "Permian"
Jefferies Financial Group: Permian’s private shale operators expect modest growth in 2024
(Bloomberg) – Most of shale’s private operators in the Permian basin are planning modest growth this year as one of the main engines of U.S. oil expansion downshifts amid volatile commodity prices.
A survey of closely held oil …
Energy Transfer LP shuts ruptured oil pipeline in Permian
Energy Transfer LP shuttered its Centurion Pipeline on Monday after it was struck by a road worker, the pipeline company said in an email to Bloomberg. Energy Transfer LP acquired the pipeline earlier this year when it acquired …
Permian oil production hasn’t peaked yet
The Permian basin has not yet seen peak oil production, according to Occidental’s chief executive Vicki Hollub.
The executive believes that growth in the play’s production rates will even offset declines in other shale basins across …
Budding oil and gas company drills new wells in Permian Basin, Haynesville shale
WO) — Growing oil and gas company Verde Bio Holdings is drilling new wells on its shale properties amidst higher oil and gas prices.
The company recently received notices that over eight new wells have been brought online. …
Oil majors expect Permian production growth to slow
Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the …
The price of frac sand has spiked 150% for Permian oil producers
(Bloomberg) — Bumping along the desolate highways of the Permian Basin, the world’s busiest oil field, there are long stretches where all you see are drilling rigs, sage brush and miles upon miles of sand. That’s why it’s …
Oil-trading giant Vitol eyes shale expansion with new venture
(Bloomberg) — Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years.
The trader and Austin, Texas-based driller ATX …
Permian’s biggest oil producer closes 2022 hedges in bullish outlook
HOUSTON (Bloomberg) –Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices.
The move will cost $328 million spread over …
Shell weighs blockbuster sale of Texas shale assets
LONDON/NEW YORK – Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as …
U.S. shale could face weeks of depressed oil production due to cold
HOUSTON – The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations.
Texas …
Trump to visit oil-rich Permian Basin to visit rig, talk energy
President Trump is expected to visit the Permian Basin in West Texas Wednesday and make a stop at the Double Eagle Energy in Midland, the White House announced.
During his visit, the president will tour an oil …
Chevron’s $5 billion deal for Noble ends deal drought, sets price benchmark
Chevron Corp’s surprise $5 billion all-stock deal for oil producer Noble Energy should spell the end of this year’s deal drought, setting a price benchmark that will trigger more buys, according to mergers and acquisition bankers, lawyers and analysts.…
Differential Price Recovery: How Regional Forces Are Bringing Benchmark Prices Back Towards Equilibrium
Oil & Gas Publishers Note: Another great industry insight article from Kevin Olson at RarePetro.
Abstract
Financial markets attempted to buoy benchmark prices as oil and gas markets became volatile in Q1 2020. This created a disconnect in the …
Oil pain spreads beyond Permian to small towns across America
The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the world of energy.
In such places, mom-and-pop outfits run so-called …
ExxonMobil outlines progress on long-term growth strategy
Woods told investors that ExxonMobil (stock ticker: XOM) is planning capital expenditures of between $30 billion to $35 billion annually through 2025, consistent with previous guidance. For 2020, the company anticipates an investment level of up to $33 billion, …