Onshore

The oilfield services industry has been mangled, chewed up and spit out since commodity prices began tumbling in late 2014. Like a champ, operators picked themselves up and fought back by revamping customer contracts, improving efficiencies and costs, and as they have always done, delivering ever-better technology.

Noble Energy Inc. took the downturn and created an uplift in opportunities to provide a platform for growth over the next four years, the Houston independent’s management said Wednesday.

Fortifying its onshore assets with an offshore stake in the Gulf of Mexico (GOM), Houston-based American Midstream Partners LP anticipates a successful merger with JP Energy Partners LP and more growth to follow, American Midstream CEO Lynn Bourdon told analysts Tuesday on a 3Q2016 earnings conference call.

Noble Energy Inc. is adding two rigs to its Texas operations in the final three months of the year, one in Eagle Ford Shale and another in the Permian Basin’s Delaware formation, following strong production growth in the third quarter.

Calgary-based Encana Corp., which made its name by successfully exploiting onshore natural gas resources, is taking a sharp turn toward capturing liquids and oil, as it targets a 300% jump in cash flow and a 60% gain in production by the end of 2021. Its No. 1 target, the Permian Basin, could see production quadrupling over the period.

The downturn in the onshore oilfield services (OFS) market should bottom this year, with expenditures of about $126 billion representing an industry nadir, researchers with Douglas-Westwood (DW) said Monday.

Mexico’s Energy Secretary on Tuesday approved the bidding process for a dozen onshore exploration and production areas open to international investment. The acreage contains mostly natural gas and includes nine blocks in the Burgos Basin south of the Texas border.

U.S. onshore results may have been lost in the weak second quarter performance by Chevron Corp., but the No. 2 U.S. producer had a strong story to tell about its onshore portfolio, particularly the venerable Permian Basin.

Global oilfield equipment spending is forecast to total $622 billion between 2016 and 2020, with onshore growth surpassing the offshore by 2017, Douglas-Westwood said Wednesday.