May promises to be yet another boom month in the nation’s seven most prolific onshore unconventional plays, with both natural gas and oil production expected to increase compared with April totals, according to the Energy Information Administration (EIA).
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Texas Efficiencies Gaining as State Churns Out Higher Natural Gas, Oil Volumes with Fewer People
Texas natural gas output increased 3% in February from a year ago to nearly 638.5 Bcf, while crude oil production climbed by 21% to a near-record 110.5 million bbl-plus, according to the latest Texas Petro Index (TPI).
Robust U.S. Land Permit Data Pointing to Another Year of E&P Outspending, Says Evercore
Strong drilling permit growth so early in 2018 points to “substantial” outspend by the exploration sector yet again, Evercore ISI analysts said.
Ohio Shale E&Ps Kept Driving Production, Innovation Last Year, Says Report
Production wasn’t the only thing that increased in Ohio’s oil and natural gas fields last year, as permitting bounced back from the lows of the commodities downturn and shale drillers that increasingly control more land continued extending their laterals, according to the Ohio Oil and Gas Association’s (OOGA) annual Debrosse Memorial Report.
U.S. E&Ps Wary of Rising OFS Costs, Living Within Cash Flow, Says Raymond James
U.S. exploration and production (E&P) management teams expect their biggest hurdles this year will be rising service costs and an effort to thrive within cash flow, according to a survey by Raymond James & Associates Inc.
Permian Player Concho Grows Production, Sets Eyes on Repeat Success in 2018
After reporting more than 28% growth in total production in the fourth quarter, Permian Basin pure-play explorer Concho Resources Inc. said it expects to grow 2018 output by 16-20%, with crude oil rising by about 20%, using a $2 billion capital expenditures (capex) program.
Both Oil, Natural Gas Assets Still on Table as Chesapeake Continues Divestments
Chesapeake Energy Corp. won’t discriminate between its oil and natural gas properties this year as it looks to keep unloading assets in an ongoing quest to get leaner and cut another $2-3 billion of debt from its balance sheet.
Energen Beats Production Guidance, but Execs Mum on Investor Call to Sell
Permian Basin pure-play Energen Corp. beat its production guidance for the fourth quarter and for the full-year 2017, and executives disclosed that they are reviewing four board candidates submitted last month by an investor that wants the company to be sold.
Oxy’s Permian — Legacy and New — Drive Output in 4Q
Occidental Petroleum Corp.’s (Oxy) senior executives on Wednesday were whistling a familiar tune regarding production growth and efficiency gains, led by the Permian Basin, with fourth quarter output jumping year/year by a record 20,000 boe/d to 159,000 boe/d.
Anadarko Directing 85% of ’18 Capital to DJ, Permian Delaware and GOM
Super independent Anadarko Petroleum Corp., which can pick and choose from an array of global prospects, is finding the best options in its own backyard, with plans to again direct nearly all of its 2018 capital to the United States.