Oil and natural gas operators that work through the midsection of the country faced dire activity levels during the second quarter and don’t expect much of an uptick through the rest of the year. The Federal Reserve Bank of Kansas City, aka the Kansas City Fed, every quarter traces energy activity in the Tenth District,…
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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…
EIA Cites Dramatic Improvements in U.S. Onshore Drilling Efficiency Amid Record 2019 Oil, Natural Gas Output
Surging U.S. crude oil and natural gas production over the last decade or so has been accompanied by dramatic improvements in onshore drilling efficiency, the Energy Information Administration (EIA) said Thursday. Oil and gas output each hit all-time highs in 2019, even as the average monthly rig count and number of wells drilled per month…
Cheniere Energy Inc.’s Midship Pipeline has entered service to move more natural gas from the Midcontinent to Gulf Coast and Southeast markets, including the company’s Corpus Christi liquefied natural gas (LNG) export terminal in South Texas.
The management team of Denver-based Cimarex Energy Co., whose operations are concentrated in the Permian Basin and Midcontinent, wants to be an active participant in how national policies are set for environmental stewardship, but first it has to walk the walk, CEO Tom Jorden said last week.
Investors with long positions in natural gas can take comfort in growing industrial sector demand, according to an industry veteran who spoke Monday in Chicago.
Houston-based Harvest Oil and Gas Corp., which has a natural gas-weighted asset base in formations across the Lower 48, posted significant year/year declines in production for the second quarter.
Energy activity was flat in the first quarter across much of the Rockies and the northern half of New Mexico, as the region’s exploration and production (E&P) companies said natural gas prices needed to average $3.02/MMBtu for drilling to be profitable, according to the Federal Reserve Bank (Fed) of Kansas City.
SandRidge Energy Inc. plans to boost oil production while spending less on capital in 2019, but it is devoting most of its operating cash flow to the North Park Basin in Colorado, where it anticipates finding thousands of potential drilling targets.
Denver-based Cimarex Energy Co. said it will cut its capital budget for 2019 and pivot to developing assets in the Permian Basin over the Midcontinent, but it won’t drop any rigs as it looks to grow its total production by double digits.