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…
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Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q
Crestwood Equity Partners LP is taking a three-pronged approach to ensuring its Bakken Shale customers are able to move their crude oil volumes to market in the event that the Dakota Access Pipeline (DAPL) shuts down, either temporarily or permanently. On the second quarter earnings call held Tuesday, CEO Bob Phillips said the commercial and…
August 5, 2020
Finally Toppled by Debt, Chesapeake in Bankruptcy
Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt. The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…
June 29, 2020
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