Drilled

U.S. oil and gas producers have held the line on capital spending and concentrated on completing wells rather than costly new development, the Energy Information Administration (EIA) said.  The EIA’s Drilling Productivity Report (DPR) issued earlier this month noted that the backlog of drilled but uncompleted wells, aka DUCs, had declined in May by 247…

Rystad Energy is forecasting oil and gas drillers to reach for the moon and beyond in the next five years, at least in terms of drilling depths, with North America’s shale and tight resources propelling it into a “league of its own.”

Cimarex Energy Co.’s first test of the Rogersville Shale appears to be a disappointment, a review of data released on Thursday by the Kentucky Division of Oil and Gas (KDOG) shows.

The average depth of horizontal and vertical wells, as well as the total distance drilled, showed a marked increase between 2012 and 2013, according to the latest Joint Association Survey on Drilling Costs (JAS).

After stumbling a bit with a challenging and disappointing well in the Tuscaloosa Marine Shale (TMS), Goodrich Petroleum Corp. on Monday reported its latest producer, which is apparently benefiting from a back to basics strategy the company is applying in the play.

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.

Demand between now and 2015 will prop up natural gas prices, even with a backlog of drilled wells awaiting connection, and from 2016 to 2018 a “dramatic structural increase” in demand could outpace supply additions and send gas prices to as high as $6.00/MMBtu, BNP Paribas’ Teri Viswanath, director of commodity strategy, said Friday.

Permian Basin-focused Energen Resources Corp., said Wednesday its first well to test the upper Wolfcamp Shale in the Midland Basin and three upper Wolfcamp wells in the Delaware Basin have shown “excellent results.”

Exco Resources Inc. is paying Chesapeake Energy Corp. $1 billion for something wet and something dry: about 55,000 acres in the liquids-rich Eagle Ford Shale of Texas and about 9,600 acres in the drier Haynesville Shale in North Louisiana.