Tag: lower 48
US natural gas production falls again in April – IHS Markit
US monthly natural gas production declines second straight month, down 3% year-over-year Lower-48 US natural gas production averaged just 70.2 billion cubic feet per day (Bcf/d) during April 2017—the lowest level in two months—but higher than production levels at the start of the year, according to analysis from IHS Markit. Texas, which in the past […]
Upstream companies to spend US$25 billion more in 2017
97 companies that have announced 2017 production guidance thus far expect to produce combined 1.2 million boe/d more than 2016 As the price of oil creeps up, are upstream companies primed to ramp up activity? In Wood Mackenzie’s latest corporate upstream report, their analysts share how the guidance issued during Q4 reporting season has shaped the outlook […]
Tall City Exploration case study: Permian Basin hotbed of deal-making
Tall City Exploration sold 78,000 acres of Permian Basin assets to for $1.1 billion to Chinese company Oil and gas mergers and acquisitions in the US Lower 48 were down 70 per cent in 2015 over 2014 (50 per cent lower on the 10-year average), according to Wood Mackenzie, but deals can still be made in the Permian Basin of West Texas. […]
Backlog of drilled but uncompleted wells in Lower 48
DUC wells present in every major basin, but 70% of “old” DUC wells located in two basins Drilled but uncompleted (DUC) wells represent more than 250,000 b/d of additional crude supply and 4.0 Bcfd of natural gas supply that could come into the market as prices begin to recover, according to Wood Mackenzie. Based on […]
The demand for sand: Smart Sand files for IPO
During the downturn, operators have sought to increase production from their most economic acreage As operators continue to upsize their well completions to improve productivity, the need for frac sand has increased. In response, Smart Sand has filed for its IPO in a bid to ultimately expand its capabilities and pay off outstanding debts, according […]
US natural gas production ends 5 month decline, rises nearly 1% above June – IHS
July showed production in Texas, the Midcontinent and Western US, had greatest decline HOUSTON – US natural gas production levels in the lower 48 states increased nearly 1 per cent in July 2016, and averaged 73.3 Bcf/d, ending a five-month production decline, according to analysis from IHS Markit. The production increase, IHS Markit said, represents a 0.6 […]
Oil industry drives down global cost curve; Permian Basin is biggest winner
Big winners are operators in key tight oil growth plays such as Permian Basin, Mid-Continent HOUSTON – The collapse in oil prices in 2014 left many planned oil investments with high costs and not commercially viable. Two years on, and the industry has started to adapt to lower oil prices, cutting costs, and getting more projects […]
Hydraulically fractured wells provide two-thirds of U.S. natural gas production
To date, most natural gas from hydraulically fractured wells has come from Lower 48, onshore tight rock formations For decades, hydraulic fracturing had been referred to as an unconventional completion technique, but over the past 10 years it has become the technique by which most natural gas is produced in the United States. Based on […]
Investment fund continues to pump equity into Lower 48 natural gas plays
Fund also financed purchase of WPX’s Piceance basin assets by backing Terra Energy Partners earlier this year In a move likely to deploy capital raised for natural gas assets in its new Energy Income Fund, investment firm Kayne Anderson has committed US$106 million and US$250 million in the SCOOP and Eagle Ford plays, respectively, according […]
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