Tag: Eagle Ford Shale
US proved oil and natural gas reserves rise in 2014
Pennsylvania added 10.4 trillion cubic feet (Tcf) of natural gas proved reserves (the largest net increase for any state in 2014) driven by continued development of the Marcellus Shale play U.S. crude oil proved reserves increased in 2014 for the sixth year in a row with a net addition of 3.4 billion barrels of proved […]
EnerVest buys $1 billion of oil and gas assets in Eagle Ford, Virginia
Acquisition adds to EnerVest’s position in Appalachia, includes additional drilling opportunities at today’s commodity prices HOUSTON – EnerVest, Ltd., and its institutional partnerships today announced two oil and gas acquisitions – Nora Field in Virginia, Eagle Ford Shale in south Texas – for approximately $1 billion. The company signed an agreement to acquire the Nora Field in Virginia from subsidiaries […]
US shale oil output to fall for 8th month in December: EIA
Texas Permian Basin will increase production by 11,000 b/d to 2.02 million b/d U.S. shale oil production is expected to fall for the eighth consecutive month in December, according to a forecast released Monday from the U.S. Energy Information Administration. The monthly total output decline will be 1118,000 b/d, to 4.95 million b/d. An outlier is the Permian Basin in West […]
Crowdfunding oil and gas service company? Fortress Environmental gives it a whirl
Fortress Environmental believes large volume of drilling, production in Eagle Ford Shale creates clean up opportunity Dallas-based Fortress Environmental Holdings is taking a page from the Silicon Valley playbook and looking to “crowdfunding” to finance its newest expansion projects in the Eagle Ford Shale of South Texas. Recent changes to US Securities and Exchange Commission regulations allow energy […]
Big Data, analytics set to help Texas producers lower costs
Oil patch Big Data made possible by improved sensors, more and better data The next big thing in the Texas oil patch could be Big Data and the analytics to make sense of it to lower costs and increase efficiency, according to a new report by Lux Research. With plunging oil prices, large oil and gas […]
Shale natural gas production expected to decline in Sept.
Utica only shale basin expected to increase production Natural gas production in shale regions is expected to drop in September as drilling slows and cannot keep up with the drop off from legacy wells, according to the US Energy Information Administration’s Drilling Productivity Report. Production from these seven shale regions reached a high in May at […]
Crude oil drops below $40, a first since Great Recession
American producers pumping 11% more crude oil than a year ago A barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis. Friday’s fall, to $39.86, was just the latest indicator of a vast shift in the energy landscape over the past year. U.S. crude oil bounced […]
American energy jobs drop 6.5% Oct. to April
States heavily dependent on American energy jobs – like Texas – still have low unemployment Producers and service companies shed American energy jobs, but the unemployment rate still dropped in Texas thanks to its resilient economy, according to the US Energy Information Administration. Employment in oil and natural gas extraction and support activities in the […]
Frac sand mining has huge impact on local economies – study
Authors conclude frac sand mining has been a huge benefit to rural Wisconsin economy Hydraulic fracturing in shale formations requires large quantities of frac sand and mining it has become big business, especially in Wisconsin, according to a new study from The Heartland Institute. The study, titled “Economic Impacts of Industrial Silica Sand (Frac Sand) Mining,” is […]
Oilfield services costs dropped up to 30% – Fed
Permian Basin hit hardest by drop in demand for oilfield services, says Federal Reserve Bank Oil and gas producers got a glimmer of good news when the Federal Reserve Bank reported that oilfield services are costing 20 to 3o per cent less since the start of 2015. The information came from the Fed’s June Beige Book, […]
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