Eagle Ford

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
Texas RRC Eyeing E&P Incentives, Reduced Time to Flare/Vent Natural Gas

Texas RRC Eyeing E&P Incentives, Reduced Time to Flare/Vent Natural Gas

Texas oil and gas regulators are looking for ways to reduce natural gas flaring, a particular problem  in the Permian Basin, by providing incentives and requiring operators to justify why they need exemptions. Draft rules were approved Tuesday by the three-member Railroad Commission (RRC), and will now undergo a 30-day comment period. Chairman Wayne Christian…

August 5, 2020
Kinder Morgan Progressing Key Natural Gas, Export Projects

Kinder Morgan Progressing Key Natural Gas, Export Projects

The double whammy of Covid-19 and an oil market downturn resulted in stinging declines on the Kinder Morgan Inc. (KMI) pipeline network, but the midstream giant reported a fair share of green shoots during a second quarter earnings call. Houston-based KMI on Wednesday reported higher natural gas transport volumes year/year and said nearly all of…

July 23, 2020
North America Likely Taking Biggest Hit from Pullback in Global Oil, Gas Drilling

North America Likely Taking Biggest Hit from Pullback in Global Oil, Gas Drilling

The number of oil and natural gas wells likely to be drilled around the world this year is forecast to hit its lowest level since at least the early 2000s, with North America the most impacted from slumping demand in the age of Covid-19. An analysis by Rystad Energy issued on Tuesday pegged the number…

July 14, 2020
Oil, Natural Gas Production Slide to Continue Next Month in Key Lower 48 Unconventional Plays

Oil, Natural Gas Production Slide to Continue Next Month in Key Lower 48 Unconventional Plays

Deflating oil and natural gas production from seven of the most prolific U.S. onshore unconventional plays is expected to continue in August, according to the Energy Information Administration (EIA).  Total oil production from the Anadarko, Appalachian and Permian basins, and the Bakken, Eagle Ford, Haynesville and Niobrara formations is expected to decline to 7.49 million…

July 13, 2020
More Losses for Oil Patch as U.S. Rig Count Grinds Lower

More Losses for Oil Patch as U.S. Rig Count Grinds Lower

A continued slide in oil-directed activity helped drop the U.S. rig count another five units to 258 for the week ending Friday (July 10), according to the latest figures from Baker Hughes Co. (BKR). Four oil-directed rigs, along with one natural gas-directed, exited the United States during the period, putting the overall domestic tally 700…

July 10, 2020