Lower oil prices and rig counts will make for lower volumes and prices for natural gas liquids (NGL) for a while, analysts at Raymond James & Associates Inc. said Monday.
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Despite a rig count that has declined significantly, production from the Haynesville Shale during June was climbing, which was reversing the impact of well shut-ins that began in February, an analysis by Bentek Energy LLC found.
Kurt Mix, a 50-year-old former engineer for BP plc, was arrested Tuesday after being charged with two counts of obstructing justice after federal authorities said he intentionally destroyed evidence related to the Macondo well blowout and sinking of the Deepwater Horizon rig in the deepwater Gulf of Mexico two years ago.
After a record-setting 2011, North Dakota continues to set all-time highs in oil and natural gas production, producing wells and rig counts, according to the latest statistics from the state’s Department of Mineral Resources (DMR).
National Oilwell Varco Inc.’s (NOV) backlog for capital equipment orders jumped by one-third from the end of March to the end of June, the oilfield services operator said Tuesday.
As Ohio awaits results of preliminary Utica Shale wells, industry leaders told an audience in Columbus last week that the play, if successful, could revive the state’s manufacturing sector.
In the article “Pennsylvania Marcellus Shale Gas Production Jumps” (see Shale Daily, Aug. 17), NGI’s Shale Daily incorrectly listed the well counts for the major producers in Pennsylvania by including wells that had been permitted, but not yet drilled. In actuality, Chesapeake Energy Corp. produced from 110 wells, not 1,286 wells. Talisman Energy Inc. produced from 185 wells, not 684 wells. Cabot Oil & Gas Corp. produced from 117 wells, not 261 wells. Range Resources Corp. produced from 240 wells, not 632 wells, and EQT Corp. produced from 49 wells, not 355 wells. NGI’s Shale Daily regrets the error.
Enterprise Products Partners LP (EPD) earned record profits in the first quarter as rig counts grew in liquids-rich shales and low natural gas prices spurred petrochemical demand. The company continues to see opportunities “to serve our customers, both producers and consumers,” COO Jim Teague said during a conference call last Tuesday.
Enterprise Products Partners LP (EPD) earned record profits in the first quarter as rig counts grew in liquids-rich shales and low natural gas prices spurred petrochemical demand. The company continues to see opportunities “to serve our customers, both producers and consumers,” COO Jim Teague said during a conference call Tuesday.