Bakken

Are Higher Canada AECO Natural Gas Prices a Pipe Dream? 

Are Higher Canada AECO Natural Gas Prices a Pipe Dream? 

Discounted pricing at the NOVA/AECO C natural gas hub in Southern Alberta is likely to remain a fact of life over the near term, even if pipeline expansions and LNG exports in Western Canada come online as scheduled, according to experts. Abundant gas supply from the Western Canadian Sedimentary Basin (WCSB) and limited egress capacity…

January 5, 2023
Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay

Crescent Point Boosting Spending for ‘Active’ Oil, Gas Drilling in Kaybob Duvernay

Calgary-based Crescent Point Energy Corp. recorded a 10% increase in natural gas production during the third quarter, but the company is focusing on the Kaybob Duvernay formation for liquids growth over the next five years. Management said natural gas output hit 144.3 MMcf/d during the quarter, up from 130.8 MMcf/d a year earlier. Natural gas…

November 8, 2022
Haynesville Leading Domestic Natural Gas Production Higher in Latest EIA Projections

Haynesville Leading Domestic Natural Gas Production Higher in Latest EIA Projections

Natural gas production from seven key U.S. onshore regions is set to surge to slightly shy of 94 Bcf/d from August to September, with the largest share of incremental output growth expected from the Haynesville Shale, according to updated projections from the Energy Information Administration (EIA). Total natural gas output from the seven regions tracked…

August 16, 2022
Chord Energy Playing Bakken for Stable Production, Investment Growth

Chord Energy Playing Bakken for Stable Production, Investment Growth

Chord Energy Corp. executives, in an inaugural earnings call after emerging from the merger of two key Bakken Shale players, said the firm’s core assets beat production expectations during the second quarter of 2022 and helped set a course for the new company. Chord was formed by the merger of independents Whiting Petroleum Corp. and…

August 12, 2022
More Natural Gas Output Growth Expected from U.S. Onshore in August, EIA Says

More Natural Gas Output Growth Expected from U.S. Onshore in August, EIA Says

Natural gas production from seven key U.S. onshore regions is set to rise 748 MMcf/d month/month to just over 93 Bcf/d in August, according to updated modeling from the Energy Information Administration (EIA). The Appalachian Basin and the Haynesville Shale are poised to experience the most natural gas output growth from July to August, with…

July 18, 2022
Riverbend Energy Sells $1.8B in Lower 48 Assets to Undisclosed Buyer

Riverbend Energy Sells $1.8B in Lower 48 Assets to Undisclosed Buyer

Houston-based investment firm Riverbend Energy Group said it has found a buyer for the sale of $1.8 billion in upstream equity interests. The assets include nonoperated interests across the Bakken/Three Forks, Utica, Fayetteville and Haynesville shale formations. The properties produce about 47,000 boe/d from 11,000 wells, the company said. A spokesperson would not comment on…

June 17, 2022
Paul Ryan-Led SPAC in $1.3B Deal to Create Lower 48 E&P

Paul Ryan-Led SPAC in $1.3B Deal to Create Lower 48 E&P

A special purpose acquisition company (SPAC) chaired by former House Speaker Paul Ryan is teaming up with Dallas-based private equity (PE) firm Grey Rock Investment Partners to form a publicly traded Lower 48 exploration and production (E&P) company. Under the proposed transaction, Grey Rock would join forces with Ryan’s Executive Network Partnering Corp. (ENPC) to…

May 17, 2022
Bakken Challenged by Labor Shortages, while Federal Auction Set for June

Bakken Challenged by Labor Shortages, while Federal Auction Set for June

The Department of the Interior’s (DOI) Bureau of Land Management (BLM) plans to hold a lease sale on June 28 for 23 federally owned parcels spanning nearly 3,406 acres in Montana and North Dakota. The sale notice issued by BLM’s Montana/Dakotas state office is part of a larger plan announced at the federal level to…

April 22, 2022
ConocoPhillips Putting Brand on Shell’s Former Permian Acreage

ConocoPhillips Putting Brand on Shell’s Former Permian Acreage

ConocoPhillips plans to keep the number of rigs steady on Permian Basin acreage recently acquired from Shell plc. “We plan to continue running four rigs on that property, the same activity rate that Shell was running, through the remainder of this year,” Executive Vice President Tim Leach who oversees Lower 48 operations told analysts during…

February 4, 2022
Hess Boosts Activity in Bakken on Commodity Price Strength

Hess Boosts Activity in Bakken on Commodity Price Strength

U.S. independent Hess Corp. has added a third rig in the Bakken Shale and may consider a fourth next year amid continued commodity price strength. The New York-based producer is ramping up Bakken activity after curtailments last year from the coronavirus. Net production from the Bakken was 148,000 boe/d in the third quarter compared with…

October 29, 2021
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