North Dakota’s top oil/natural gas regulator said Monday there are some positive outcomes from the two-year price slump that continues to confound the industry, while also recognizing that a good deal of hurt has been spread across the Bakken and other major shale plays.
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Oasis Cuts Drilling Costs with Efficiencies
Continued drilling efficiency improvements are driving record production growth in the Williston Basin’s Bakken Shale and helping to push down costs, according to top Oasis Petroleum executive.
Producers See Equity Heating Up, ‘Vigorous’ Enthusiasm for Permian
Exploration and production (E&P) companies remain enthusiastic about the U.S. onshore, in particular the Permian Basin, Niobrara formation, Utica Shale and the Tuscaloosa Marine Shale (TMS), based on observations at the recent EnerCom Consulting oil and natural gas conference, said two analyst teams who were there. However, Marcellus Shale pricing appears to be a “real concern for the buyside.”
Onshore Drillers Trending Toward Fast-Moving, AC Rigs
Efficiencies have made the onshore rig count not as relevant a data point as it once was, but digging deeper into the data shows what types of rigs are gaining favor and why, according to Tudor, Pickering, Holt & Co. (TPH).
Onshore Drillers Trending Toward Fast-Moving, AC Rigs
Efficiencies have made the onshore rig count not as relevant a data point as it once was, but digging deeper into the data shows what types of rigs are gaining favor and why, according to Tudor, Pickering, Holt & Co. (TPH).
NOV’s Miller: Buckle Your Seat Belts, Keep Your Eyes On China
National Oilwell Varco Inc. (NOV) CEO Pete Miller believes a slump in North American onshore drilling will continue through this year, but the international energy equipment business is high on his radar, particularly in China.
Encana, PetroChina Strike Partnership in Duvernay Shale
Encana Corp. on Thursday struck a C$2.18 billion joint venture (JV) agreement to explore and develop close to half a million acres of its leasehold in the Duvernay Shale with a subsidiary of PetroChina International Ltd.
Chesapeake Offers Voluntary Layoffs
Chesapeake Energy Corp. on Friday has offered a “voluntary separation program” for some of its employees as part of efforts to improve efficiencies and reduce costs. The layoffs, the third round since June, would remove about 2% of Chesapeake’s workforce of nearly 12,500.
Contract Drillers Need ‘Patience,’ Helmerich CEO Says
Riding high on record profits and continuing efficiencies, the contract drilling sector nevertheless faces uncertainties during the first half of next year that require patience and flexibility, said the CEO of Tulsa-based Helmerich & Payne Inc. (HP).
Helmerich’s Land-Rig Migration to Horizontal Almost Complete
Riding high on record profits and continuing efficiencies, the contract drilling sector nevertheless faces uncertainties during the first half of next year that require patience and flexibility, said the CEO of Tulsa-based Helmerich & Payne Inc. (HP).