The Permian Basin bottleneck, which has led to sharp pricing discounts, is sharply impacting the number of fracture crews and well completions, according to a real-time analysis of more than 15,000 wells across the region, said Westwood Global Energy Group.
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Weatherford International plc has sold its U.S. pressure pumping and pump-down perforating assets to a subsidiary of Schlumberger Ltd. for $430 million, scrapping a plan initiated in early 2017 to partner in the domestic arena.
U.S. midstreamers working in onshore basins should get a “substantial uplift” in 2018 as oil and natural gas producers complete more wells and tie in to expanding infrastructure.
Operating efficiencies that allowed earlier than expected turn-in-lines during the third quarter helped Rex Energy Corp. beat guidance for the period and have the company on track to meet its year-end exit rate production growth target of 15-20%.
Houston-based Forum Energy Technologies Inc. has agreed to pay $237 million in a cash-and-stock trade to become sole owner of Global Tubing, a coiled tubing supplier for oil and gas producers.
Part one of a two-part NGI report (Part Two).
Benefitting from a recent acquisition and production growth from legacy assets, Sanchez Energy Corp. is currently producing at a record level of about 76,000 boe/d, the company said Wednesday.
Halcon Resources Corp. said late Tuesday it would revive its drilling program in its El Halcon area of the Upper Eagle Ford Shale in East Texas early next year, citing firming oil prices and encouraging results from offset wells in the region as part of its decision.
Commodity prices may not encourage too many rigs to rise in North America in the near-term, but as oil and gas producers experiment with longer laterals and increased fractures, there’s a bit more optimism among sand operators.