Devon Energy Corp. increased 2016 production guidance by 3% and may add up to seven rigs across the Permian and Anadarko basins by year’s end as cost reduction efforts improved the bottom line and onshore resource plays once again topped expectations.
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North Dakota Adds Rigs, But Drilling Slowdown Could Last Into 2Q2017
North Dakota recovered the two drilling rigs it lost since April, but oil prices are expected to remain weak through 3Q2016 and possibly extend into 2Q2017, Department of Mineral Resources (DMR) Director Lynn Helms said.
July 19, 2016
Hefty Holiday Impact Seen in Estimated Storage Build; August Called 2 Cents Higher
August natural gas is set to open 2 cents higher Thursday morning at $2.76 as traders await storage stats that are expected to confirm the ever-decreasing short- and long-term storage surpluses. Overnight oil markets rose.
July 14, 2016
Seven Generations Boosting Montney Shale NatGas Focus in C$1.9B Deal With Paramount
Calgary-based Seven Generations Ltd. (7G) on Wednesday struck a C$1.9 billion ($1.47 billion) deal to expand its natural gas opportunities in the Montney Shale in a transaction that also would bring aboard cross-town rival Paramount Resources Ltd. as a 10% stakeholder.
July 7, 2016
Adjusting For Inflation, FERC Raises Maximum Civil Penalties
FERC issued an interim final rule Wednesday [RM-16-16] increasing maximum civil penalties for violations of federal statutes under its jurisdiction.
July 5, 2016
Mancos Shale Now Estimated to Hold 66 Tcf — Substantially Above 2003 Assessment
The Piceance Basin’s Mancos Shale in Colorado contains an estimated 66 Tcf of natural gas, sharply higher than a 2003 estimate of 1.6 Tcf, becoming the second-largest assessment of potential continuous gas resources ever conducted by the U.S. Geological Survey (USGS), officials said Wednesday.
June 8, 2016
Global Onshore OFS Capex Seen Surpassing Offshore Spend by 2017
Global oilfield equipment spending is forecast to total $622 billion between 2016 and 2020, with onshore growth surpassing the offshore by 2017, Douglas-Westwood said Wednesday.
May 18, 2016
Global Onshore OFS Capex Seen Surpassing Offshore Spend by 2017
Global oilfield equipment spending is forecast to total $622 billion between 2016 and 2020, with onshore growth surpassing the offshore by 2017, Douglas-Westwood said Wednesday.
May 18, 2016
Devon Boosts Onshore Production Guidance by 3%, While LOE Declines by 21%
Devon Energy Corp. has raised its full-year production guidance by 3% after exceeding midpoint expectations for North American natural gas, liquids and oil output, led by outperformance in Oklahoma’s stacked reservoirs.
May 4, 2016
Vanguard Increasing Capex for Pinedale Anticline Drilling
Houston-based Vanguard Natural Resources LLC said it plans to use proceeds from the sale of some assets in the Midcontinent to pay down its debt, while it plans to bump up its capital expenditures (capex) for the remainder of the year to conduct drilling in the Green River Basin’s Pinedale Anticline.
May 4, 2016
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