Oil

The long-standing, steady upward trend of natural gas and oil production increases out of the United States’ seven most prolific onshore unconventional plays will continue in June, with gas output surpassing 80 Bcf/d and oil nearing 8.50 million b/d, according to the U.S. Energy Information Administration (EIA).

The Canadian fossil fuel industry is taking a long fall into becoming a poor cousin to its peer in the United States, according to an annual review of the North American energy scene by the Fraser Institute.

As it continues to transform into an oil-focused producer, Chesapeake Energy Corp. plans to run only three rigs on its natural gas assets in the second half of the year, following gains during the first quarter on newly acquired Eagle Ford Shale properties and record-setting results in the Powder River Basin (PRB).

Whiting Petroleum Corp. said it is taking advantage of resurgent oil prices to pay down its debt and is on-target with capital expenditures (capex) for the year, despite spending more than it planned on nonoperated expenses during the first quarter.

Enterprise Products Partners LP (EPD) is boosting capital expenditures (capex) for 2019 after reporting record net income during a solid first quarter that included a new high of 900,000 b/d in crude oil volumes from its marine terminals, management said Wednesday.

Devon Energy Corp. has increased its projections for Lower 48 oil production growth to 17% from 2018, up 200 basis points from previous guidance, on improving well productivity and capital efficiencies, particularly in the Permian Basin.

An ad hoc group of opponents to Colorado Senate Bill 181 said it will not attempt to overturn the controversial measure this year.

Texas-based Rangeland Energy established a Canadian foothold Tuesday with an oil pipeline project in a rare corner of the northern Alberta bitumen belt where heavy oil flows without costly artificial stimulation of wells.

The Colorado Oil and Gas Conservation Commission (COGCC) has asked for public input over a draft set of objectives and a guidance document to a new state law that calls for fundamental changes to the agency.