Also in this news brief – 1) McKinsey Insights’ “North American Shale Oil Outlook to 2025” 2) Shale drillers turn to refracturing wells 3) US drillers spend big on “super-spec” rigs Canada imports more than twice as much per day as next leading importer of US oil (China) Reuters – U.S. crude oil exports reached 1.02 […]
USA oil/gas news brief July 9: US oil exports 1 million b/d, Canada top market Read More »
How low can the costs of US shale oil production go? By Ross McCracken, Platt’s Managing editor, Energy Economist Even with oil prices hovering around the $50/b mark, the US rig count has increased rapidly while E&P companies continue to record substantial reductions in well drilling costs. The increase in new well oil production per rig
US shale oil rebound shakes OPEC Read More »
Sanchez Energy, Blackstone purchase 318,000 acres in Western Eagle Ford On Friday, Sanchez Energy and Blackstone Energy Partners announced they have entered into a 50/50 partnership to purchase approximately 318,000 gross acres in the Western Eagle Ford, valued at $2.3 billion. The land is primarily located in the Dimmit and Webb counties which are contiguous to
Sanchez Energy, Blackstone join in $2.3 billion Anadarko Eagle Ford acquisition Read More »
Total US crude oil production expected to average 9.0 million b/d in 2017 and 9.5 million b/d in 2018 US crude oil production increased for the second consecutive month in Nov. 2016, the first time this has occurred since early 2015, according to the US Energy Information Administration. Increased drilling activity in the Permian region,
US crude oil production increases following higher drilling activity Read More »
Permian and Eagle Ford rank first and third respectively as most productive US shale plays for crude oil By Matt Mandel, EnergyInDepth The latest US Energy Information Administration (EIA) drilling productivity report projects US shale oil production will increase by roughly 80,000 barrels per day (bpd) in March, with 70,000 bpd produced in Texas’ Permian
Permian Basin to drive up shale oil production by 80,000 b/d in March Read More »
Argentina is 3rd, after US, Canada, to commercially develop tight oil and shale gas Despite its estimated 802 trillion cubic feet (Tcf) of unproved, technically recoverable shale gas resources, Argentina’s dry natural gas production declined each year from 2006 to 2014, and the country has shifted from a net exporter of natural gas to a net importer,
Anadarko divestiture includes 155,000 net acres primarily located in Dimmit and Webb counties Anadarko Petroleum Corporation announced it has agreed to sell its Eagleford Shale assets in South Texas for approximately $2.3 billion to Sanchez Energy Corporation and Blackstone Group LP, according to a press release. “The ongoing success of our portfolio-management activities provides us
Anadarko announces sale of Eagleford Shale assets Read More »
SM Energy transaction expected to close Q1 2017 SM Energy Company announced it entered an agreement with subsidiary of Venado Oil and Gas, LLC , an affiliate of KKR, for the sale of the company’s third party operated assets in the Eagle Ford, including its ownership interest in related midstream assets, for a purchase price of
SM Energy sells Eagle Ford assets for $800 Million Read More »
Net sales of 1,160 barrels of oil equivalent per day (97%) HOUSTON – Swift Energy Company announced today that it had entered into a purchase and sale agreement providing for the company to sell its Lake Washington field in South East Louisiana, according to a press release. “Swift Energy has made several strategic moves this
Swift Energy sharpens focus on Eagle Ford Basin Read More »
Chesapeake is also targeting the Powder River Basin again after an unsuccessful divestment attempt At Chesapeake’s 2016 Analyst Day, it was clear that the company’s new ex-Anadarko management team had significantly changed Chesapeake’s business strategy, and the outlook is promising, according to Wood Mackenzie. In Wood Mackenzie’s latest report and Crude for Thought podcast, their analysts explore Chesapeake’s
Chesapeake comes out of the trough – Wood Mackenzie Read More »
