Domestic

The move to horizontal drilling and longer laterals has made the domestic land rig count not so simple anymore, leading Raymond James & Associates Inc. last week to launch well and footage count forecasts.

The move to horizontal drilling and longer laterals has made the domestic land rig count not so simple anymore, leading Raymond James & Associates Inc. on Monday to launch well and footage count forecasts.

U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).

Oil and gas patch output is typically measured in barrels or cubic feet, but gross domestic product (GDP) is another yardstick by which to chart growth, and that’s particularly true in North Dakota, home to the Bakken Shale, the U.S. Energy Information Administration (EIA) said Friday.

Those who worry that export of liquefied domestic natural gas will invite global oil price volatility into the U.S. gas market are forgetting about fungibility, Rice University energy fellow Ken Medlock said during a recent presentation.

Prolific oil production from U.S. shales is weighing on the need for imports, OPEC acknowledged in its latest Monthly Oil Market Report (MOMR), and analysts at Barclays predicted that the Organization of the Petroleum Exporting Countries will see its influence over market balances decline over the next few years.

U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).

Onshore drilling efficiencies in domestic shale gas plays continue to increase, per-unit costs continue to fall, and together, they given a big boost to operators’ proven reserves, by one calculation.

Onshore drilling efficiencies in domestic shale gas plays continue to increase, per-unit costs continue to fall, and together, they given a big boost to operators’ proven reserves, by one calculation.