Adjusted net loss from operations in Q1 was $59 million, or a loss of $0.21 per share TULSA, Okla. – WPX Energy says that it is increasing its estimated ultimate recoveries (EURs) for its Delaware Basin wells in the Permian to 900 Mboe, up 34 per cent from its acquisition type curve of 670 Mboe. The company plans […]
WPX Energy loses $59M in Q1 but optimistic for Permian Basin production Read More »
“We are particularly excited about re-starting our drilling program in the Permian Basin, where we are seeing faster drill times, lower costs and better wells.” DENVER, Colorado – SM Energy Company is expanding production in the Permian Basin, where it already resumed drilling in the first quarter. The company released financial results for Q1 2016 and provided an
SM Energy refocuses effort toward Permian Basin after strong Q1 results Read More »
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
Hydraulically fractured wells provide two-thirds of U.S. natural gas production Read More »
Structure maps provide valuable drilling information, lend insight into distribution of oil and natural gas throughout play The U.S. Energy Information Administration has produced new maps that show the structure, thickness, and geologic setting of the Utica Shale play and the location of production wells. Production of oil and natural gas from the Utica play
EIA produces new maps of Utica Shale play Read More »
Wood Mackenzie estimates over 10% of global liquids supply by 2035 will be sourced from conventional volumes yet to be discovered A new study by consultancy Wood Mackenzie warns the global oil market could face a supply shortfall of 4.5 million b/d by 2035 if exploration success doesn’t improve. Wood Mackenzie says discoveries in recent
Global oil supply shortfall of 4.5M b/d by 2035 if exploration results don’t improve Read More »
Texas production in Feb. 2016 came from 184,117 oil wells and 89,379 gas wells AUSTIN –– Production for Feb. 2016 as reported by the Railroad Commission of Texas is 70,251,961 barrels of crude oil and 580,784,700 mcf of total gas from oil and gas wells. These preliminary figures are based on production volumes reported by operators
Texas oil and gas production statistics for Feb. 2016 Read More »
Exxon Mobil on track to start up 10 new upstream projects in 2016/17, adding 450,000 oil-equivalent b/d of production capacity IRVING, Texas – Oil production has started under budget and ahead of schedule at the Julia oil field in the Gulf of Mexico, Exxon Mobil said Tuesday. The first production well is now online and a second well
Exxon Mobil starts production at Julia Oil Field in Gulf of Mexico Read More »
After increasing in 2013 and 2014, US carbon dioxide emissions from energy consumption fell by 2% in 2015 Total US energy production increased for the sixth consecutive year. According to data in EIA’s most recent Monthly Energy Review, energy production reached a record 89 quadrillion British thermal units (Btu), equivalent to 91 per cent of total US
US energy production up for 6th year, CO2 emissions fall 2% Read More »
EIA’s Short-Term Energy Outlook projects U.S. natural gas production growth will slow to 0.9% in 2016, as low natural gas prices and declining rig activity temporarily reduce production U.S. natural gas production reached a record high level of 79 billion cubic feet per day (Bcf/d) in 2015, an increase of 5 per cent from the previous year,
U.S. natural gas production reaches record high in 2015 Read More »
Gulf of Mexico area is one of the most important American regions for energy resources, infrastructure The American Petroleum Institute repeated industry concerns Wednesday to the Obama Administration that the Bureau of Safety and Environmental Enforcement’s (BSEE) Well Control Rule may have unintended negative consequences for safety and affect future offshore energy projects. “The Well Control Rule
API cautions Obama Administration: Offshore well control rule could harm safety Read More »
