A shortage of onshore drilling equipment capable of blasting into shale is contributing to double-digit inflation in some of the big U.S. unconventional plays, an issue expected to be played out over the coming weeks as North American exploration and production (E&P) companies unveil earnings for the first three months of 2011.
Equipment
Articles from Equipment
Encana Nabs Duvernay Shale Acreage, Looks for More JVs
Encana Corp.’s latest quarterly profits took it on the chin because of low natural gas prices, but the Calgary producer is responding with a realignment by transferring proven gas shale technology to liquids plays, advertising for partners to share costs in gassy northeast British Columbia (BC), and quietly acquiring an oily leasehold in Alberta’s Duvernay Shale.
Pioneer Continues Liquids Focus for 2011
Pioneer Natural Resources Co. last year ramped up its activity in the Spraberry Field of West Texas and the Eagle Ford Shale of South Texas, both of which were drivers for growth in 2010.
For North American Gas Market, It’s Deja Vu
North American natural gas producers have the geological resource, know-how, equipment and motivation to grow supplies faster than organic market demand, and with those drivers in place, this year will be a repeat of 2010, Barclays Capital analysts said last week.
For North American Gas Market, It’s Deja Vu
North American natural gas producers have the geological resource, know-how, equipment and motivation to grow supplies faster than organic market demand, and with those drivers in place, this year will be a repeat of 2010, Barclays Capital analysts said Monday.
Patterson-UTI Rig Count Up, Dayrate Higher
More shale rigs and higher dayrates lifted the latest quarterly earnings of U.S. land-based driller Patterson-UTI Energy Inc. (PTEN), which last week topped Wall Street’s forecasts.
Texas Adds Another Barnett Shale Air Monitor
The Texas Commission on Environmental Quality (TCEQ) has installed a new air monitor in Flower Mound, TX, in southern Denton County to track the effects of Barnett Shale gas patch activity.
Schlumberger CEO: Liquids-Rich Drilling May Peak in 2011
Renewed vigor to tap into North America’s shales helped Schlumberger Ltd. to more than double its quarterly earnings, the oilfield services giant said Friday.
Eagle Ford: Come for the Gas; Stay for the Oil and Liquids
Things aren’t always what they seem. What starts as a natural gas play can become an oil/gas liquids play. Sometimes the best thing to do is circle back to your roots. But it’s important to always know where you are, especially when you’re in the Eagle Ford Shale in South Texas.
Industry Brief
ConocoPhillips has agreed to install pollution control equipment and implement other emission-reduction practices to reduce harmful emissions and conserve natural gas at its Argenta and Sunnyside compressor stations on the Southern Ute Indian Reservation in the San Juan Basin near Ignacio, CO, the Environmental Protection Agency (EPA) said. Under a settlement agreement with EPA, ConocoPhillips agreed to pay $175,000 in civil penalties. According to a complaint filed with the settlement, the producer allegedly violated provisions of its air emissions permit under Title V of the Clean Air Act. EPA said ConocoPhillips had cooperated in resolving the violations.