Permian Basin

Global drilling behemoth Precision Drilling Corp. cut costs by double-digits and improved efficiencies across its operations during the second quarter, but there’s paltry visibility as uncertainties surrounding the impacts of Covid-19 remain a concern, management said. Even though revenue plunged by nearly half from a year ago to $47 million, the multi-talented operator is poised…

Permian Basin pure-play Ring Energy Inc., which in late April curtailed nearly all of its Delaware sub-basin output, is ramping up, with production now approaching 9,000 boe/d net. In an update late Wednesday, the Midland, TX-based independent said it began flowing oil again in early June when commodity prices were improving and price differentials were…

August natural gas futures gathered momentum on Tuesday, buoyed by expectations for strong near-term cooling demand and new indications that U.S. exports could recover later in 2020. The August Nymex contract climbed 3.4 cents day/day and settled at $1.675/MMBtu. September gained 3.0 cents to $1.714.  NGI’s Spot Gas National Avg. lost a half-cent to $1.615.…

New Mexico authorities on Monday published two separate sets of draft rules aimed at curbing methane emissions from oil and natural gas operations. The Energy, Minerals and Natural Resources Department (EMNRD) unveiled what it called “New Mexico’s first comprehensive methane regulations,” which propose 98% natural gas capture from the oil and gas industry by the…

Deflating oil and natural gas production from seven of the most prolific U.S. onshore unconventional plays is expected to continue in August, according to the Energy Information Administration (EIA).  Total oil production from the Anadarko, Appalachian and Permian basins, and the Bakken, Eagle Ford, Haynesville and Niobrara formations is expected to decline to 7.49 million…

EnerCorp Engineered Solutions said Monday it is merging with well flow specialist Pro Oil & Gas Services LLC to expand well construction services across North America.  EnerCorp, headquartered in The Woodlands near Houston, formerly was EnerCorp Sand Solutions. The oilfield services (OFS) specialist has focused on sand separation technologies, as well as providing ancillary flowback…

A continued slide in oil-directed activity helped drop the U.S. rig count another five units to 258 for the week ending Friday (July 10), according to the latest figures from Baker Hughes Co. (BKR). Four oil-directed rigs, along with one natural gas-directed, exited the United States during the period, putting the overall domestic tally 700…

Noble Energy Inc. said Thursday the bulk of its shut-in U.S. oil and gas production would be brought back online in the coming weeks.  Noble, whose vast U.S. portfolio extends across Texas and Colorado, said its second quarter curtailments totaled 11,000 b/d of oil. But “significant improvements in operating costs and netback pricing” will allow…

Driven by declines in the Permian Basin, the U.S. rig count fell two units overall to drop to 263 for the short holiday week ending Thursday (July 2), according to the latest numbers from Baker Hughes Co. (BKR). Changes for the week included a three-rig decline in oil-directed drilling, partially offset by the addition of…