Magnitude

North American oilfield services activity in the first three months of this year has been less promising than expected, according to Schlumberger Ltd. CEO Paal Kibsgaard.

Talisman Energy Inc. said Wednesday it will decrease its Marcellus Shale exploration activities and cut its capital spending budget for the play in half this year.

A geophysicist with the U.S. Geological Survey (USGS) believes at least two minor earthquakes in South Texas, including a 3.0-magnitude temblor on Feb. 4, were caused by oil and natural gas drilling.

Not all the facts are in on the risks of hydraulic fracturing (fracking) well stimulation, so curtailing the practice would be a rush to judgment, according to a new report from the National Regulatory Research Institute (NRRI).

November natural gas yielded to a larger than anticipated storage report Thursday and settled lower. The magnitude of the storage build caught many by surprise and raises the question of whether production estimates may be understated. At the close November had fallen 5.2 cents to $3.747 and December had retreated 2.6 cents to $4.015. November crude oil added 93 cents to $82.14/bbl.

Ohio officials say the percentage of wastewater originating from out-of-state natural gas wells has increased 10% and predicts that it will continue to climb in the coming years.

The U.S. exploration and production (E&P) sector has entered an energy “supercycle” as the market begins to realize the magnitude of “real” asset growth from the abundance of onshore reserves and the potential from liquids and natural gas shales, said FBR Capital Markets analysts last week.

The U.S. exploration and production (E&P) sector has entered an energy “supercycle” as the market begins to realize the magnitude of “real” asset growth from the abundance of onshore reserves and the potential from liquids and natural gas shales, said FBR Capital Markets analysts.

The timing and magnitude of the U.S. Gulf of Mexico (GOM) drilling recovery will be more “asset-specific” than any cyclical offshore drilling upswing in decades, the energy team at Raymond James & Associates said last week.