Eagle Ford

Seven Key Oil, Natural Gas Producing Regions Set to Lower Output in November, Says EIA

Seven Key Oil, Natural Gas Producing Regions Set to Lower Output in November, Says EIA

Despite anticipated increases in productivity per rig across seven key U.S. producing regions, overall oil and gas output from these areas is expected to fall across the board from October to November, according to updated numbers released Tuesday by the Energy Information Administration (EIA). The agency’s latest Drilling Productivity Report (DPR) projects that total natural…

October 13, 2020
Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

Strong Balance Sheet Key to ConocoPhillips Managing ‘Really Dark Days’ of Oil Downturn

ConocoPhillips’ strategic pivot in 2016 to a value model rather than a growth model provided the Houston-based independent the financial capability to “make rational economic decisions” during the oil market downturn, including curtailing around 400,000 b/d of production. ConocoPhillips Executive Vice President and Chief Operating Officer Matt Fox said the company’s strong balance sheet, which…

September 29, 2020
Max Midstream Looking to Pull Permian, Eagle Ford Oil to New Export Terminal Between Houston, Corpus

Max Midstream Looking to Pull Permian, Eagle Ford Oil to New Export Terminal Between Houston, Corpus

A Houston-based midstreamer is looking to squeeze in another oil export project on the Texas coast between the massive Houston and Corpus Christi ports that would move Eagle Ford Shale and Permian Basin supply overseas. Max Midstream announced the ambitious plan designed around the Seahawk Pipeline and Terminal in Port Comfort in Calhoun County. The…

September 25, 2020
Matador Sees Strong Results in Permian Delaware with More Wells Nearing Completion

Matador Sees Strong Results in Permian Delaware with More Wells Nearing Completion

Permian Basin-focused Matador Resources Co. has seen some of the highest initial potential (IP) rates from one of four wells recently completed and turned to sales in the Stateline asset area in Eddy County, NM. The Dallas-based operator said Tuesday the test results from the Boros No. 215H well showed 24-hour IP production of 4,584…

September 22, 2020
Lower 48 Holds Enough DUCs to Extend Operations Deep into 2021

Lower 48 Holds Enough DUCs to Extend Operations Deep into 2021

A substantial inventory in the Lower 48 of drilled but uncompleted wells, aka DUCs, could sustain drilling — without adding more wells — long into the coming year, according to a new analysis. “After DUCs run out, however, rig activity in the five key oil regions needs to be in the 280-300 range to maintain…

September 8, 2020
Covenant, Stuart Combine Lower 48 Well Flowback, Pressure Control Businesses

Covenant, Stuart Combine Lower 48 Well Flowback, Pressure Control Businesses

Houston-based Covenant Testing Technologies LLC said Tuesday it is combining with Stuart Pressure Control to provide well flow and pressure control for operators across the Lower 48. The tie-up is designed to expand services for exploration and production companies in the Permian and Denver-Julesburg basins, as well as the Eagle Ford and Haynesville shales. “In…

August 18, 2020
Oil, Natural Gas Supply from Major U.S. Plays to Continue Falling in September, EIA Says

Oil, Natural Gas Supply from Major U.S. Plays to Continue Falling in September, EIA Says

Oil and natural gas production from seven key U.S. onshore plays is set to decline in September, continuing a downtrend that began earlier this year, according to the latest Drilling Productivity Report (DPR) published Monday by the Energy Information Administration (EIA). EIA expects oil production from the Anadarko, Appalachian, Denver Julesburg-Niobrara and Permian basins, as…

August 17, 2020
Marathon Oil Slashes Costs, But Says it is Gathering Production Momentum

Marathon Oil Slashes Costs, But Says it is Gathering Production Momentum

Marathon Oil Corp. said stabilization in commodity prices enabled the company to raise its full-year oil production outlook even as it keeps costs in check and further lowers its capital expenditure (capex) plans. Houston-based Marathon — which works in Oklahoma, the Delaware Basin and the Bakken and Eagle Ford shales — raised slightly its 2020…

August 10, 2020
Oil Count Retreats Further as Permian Rigs Exit Patch

Oil Count Retreats Further as Permian Rigs Exit Patch

Yet another round of losses in the oil patch saw the U.S. rig count slide four units to 247 for the week ended Friday (Aug. 7), according to updated numbers from Baker Hughes Co. (BKR). Total oil-directed rigs in the United States fell four units to 176, while natural gas-directed rigs held steady at 69.…

August 7, 2020
Lower 48 ‘Remains Core’ to BP’s Business, but Higher Prices Said Key to Boosting Activity

Lower 48 ‘Remains Core’ to BP’s Business, but Higher Prices Said Key to Boosting Activity

The Lower 48 oil and natural gas business that BP plc carved out under a separate umbrella took a tumble in the second quarter, with the rig count falling from 13 working during the first three months of the year to only one at the end of June. The primary production focus of Denver-based BPX…

August 6, 2020