Haynesville

Lower 48 independent Range Resources Corp. on Wednesday unveiled an emissions goal of net zero greenhouse gas (GHG) emissions by 2025. The Fort Worth, TX-based exploration and production (E&P) company said in its 2020 Corporate Sustainability Report it has reduced absolute GHG emissions by 47% since 2017. It also has recycled 147% of produced water…

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…

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…

Permits for new oil and gas wells rose 25% month/month in July, with “significant” growth in the Permian Basin, but overall activity was down by two-thirds from a year ago, according to Evercore ISI. The analyst team led by James West each month compiles federal and state permitting data, which provides a window into what…

Haynesville Shale giant Comstock Resources Inc. is changing its tune. After adopting a moratorium on bringing new wells online in the natural gas-rich play from April through June, some completion activity has now resumed in anticipation of a bump in prices this winter. CEO Jay Allison, during a conference call to discuss 2Q2020 results, said…

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…

Range Resources Corp. has announced a deal to divest its Cotton Valley Sands Terryville Complex assets in North Louisiana, reaching an agreement with Castleton Resources LLC for up to $335 million.  The deal comes at a low point in the commodity cycle, considering that Range took on the assets in 2016 with the $4.4 billion…

Favorable weather and cost-saving measures have positioned DTE Energy Co. to achieve its previously announced earnings target of $1.25-1.30 billion this year, with several of the Detroit-based company’s businesses on track to come in on the higher end of projections despite the Covid-19 pandemic. “It is great to be part of such an amazing team…

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…