The Texas upstream oil and gas economy was in a “mild state of contraction” through the middle of the year, declining for six of the last eight months, according to the Texas Petro Index.
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Schlumberger Expecting NAM Land Activity to Plunge 10%
Schlumberger Ltd., the No. 1 oilfield services (OFS) operator in the world, is forecasting a sharp pullback in U.S. and Canadian onshore activity this year, while domestic offshore and overseas activity are on an upward trajectory.
Expect ‘Messy’ 2Q Results as Lower 48 E&Ps Respond to Lower Waha, WTI Pricing
The second quarter earnings season is likely to offer few surprises, as U.S. producers continue to preach capital discipline and pull the reins on developing assets in a low-priced, constrained environment, particularly in the Permian and Appalachian basins.
Big Seven Unconventional Play Production to Near 82 Bcf/d in August, Says EIA
Production from the United States’ seven most prolific onshore unconventional plays will continue its lengthy streak of month-to-month increases in August, with natural gas output expected to reach 81.96 Bcf/d and oil 8.55 million b/d, according to the U.S. Energy Information Administration (EIA).
Wyoming Oil, Gas Regulators Move to Clear Permitting Glut
The Wyoming Oil and Gas Conservation Commission (WOGCC) has approved a draft rule that would reduce the growing backlog of unconventional drilling permits.
Natural Gas, Oil Production from U.S. Unconventional Plays to Rise Again in July, Says EIA
Oil production from the United States’ seven most prolific onshore unconventional plays is expected to be greater than 8.50 million b/d in July as the plays record their 31st consecutive month-to-month increase, according to the U.S. Energy Information Administration (EIA).
April Saw ‘Sharp Contraction’ in Lower 48 Oil, Gas Permitting, Says Evercore
Capital discipline by Lower 48 operators and market volatility appeared to temper oil and gas permitting during April, particularly in Colorado and the Permian Basin, according to a review by Evercore ISI.
Most Lower 48 E&Ps Reportedly Facing Uphill Climb to Positive Cash Flow
Nearly 90% of U.S. unconventional operators are burning cash, and many have not achieved a positive cash flow balance, according to a study of the financial performance of 40 companies.
NGI The Weekly Gas Market Report
U.S. E&Ps Hold Line on Capex, but Production Genie Out of the Bottle as NatGas, Oil Surge
U.S. oil and natural gas producers overall defied the odds and held the line on capital spending during the first three months of this year, but prices still are squeezed as oil, natural gas and liquids production topped expectations.
Breakeven Oil Prices Underscoring Lower 48’s Impact on Market
The oil price needed to profitably drill wells has tracked with prices for long-dated oil futures out to five years, with Lower 48 output appearing to play an outsized role in anchoring prices, according to the Federal Reserve Board of Dallas, aka the Dallas Fed.