permian

U.S. Natural Gas Rig Count Down One as Fallout Continues in Oil Patch

U.S. Natural Gas Rig Count Down One as Fallout Continues in Oil Patch

The U.S. natural gas rig count fell one unit to 80 during the week ended Friday (May 8), while another steep decline in oil activity sent the overall U.S. count plummeting once again, according to the latest figures from Baker Hughes Co. (BKR).

May 8, 2020
Permian-Focused Shut-ins Mount, as Oxy, Region’s E&Ps Slice Completions, Production

Permian-Focused Shut-ins Mount, as Oxy, Region’s E&Ps Slice Completions, Production

Stung by the untimely and expensive takeover of Anadarko Petroleum Corp. in 2019, debt-laden Occidental Petroleum Corp. (Oxy) is working to right itself after taking a battering in the first three months, joining other Permian Basin-heavy operators in reducing activity in reaction to plummeting demand.

May 6, 2020
Bakken, Permian Seen Driving 300,000 b/d of Lower 48 Oil Supply Cuts Through June

Bakken, Permian Seen Driving 300,000 b/d of Lower 48 Oil Supply Cuts Through June

The Williston and Permian basins are expected to drive at least 300,000 b/d of shut-in oil supply from Lower 48 operators during May and June, up from about 100,000 b/d of cuts projected for April, according to new analysis by Rystad Energy.

April 29, 2020
Ring Energy in Deal to Sell Permian Delaware Acreage

Ring Energy in Deal to Sell Permian Delaware Acreage

Ring Energy Inc. said Tuesday it has entered a deal to sell a portion of its Permian Basin acreage to an undisclosed party for $31.5 million.

April 15, 2020
EIA Forecasts Natural Gas, Oil Production Decline in May from Key Lower 48 Plays

EIA Forecasts Natural Gas, Oil Production Decline in May from Key Lower 48 Plays

Reflecting the impact of both the coronavirus pandemic and the global oil price war, natural gas and oil production from seven of the most prolific onshore U.S. unconventional plays is expected to decline in May compared with April, according to the Energy Information Administration (EIA).

April 14, 2020
EIA Forecasts Natural Gas, Oil Production Decline in May from Key Lower 48 Plays

EIA Forecasts Natural Gas, Oil Production Decline in May from Key Lower 48 Plays

Reflecting the impact of both the coronavirus pandemic and the global oil price war, natural gas and oil production from seven of the most prolific onshore U.S. unconventional plays is expected to decline in May compared with April, according to the Energy Information Administration (EIA).

April 14, 2020
Permian Methane Emissions Estimated at Three Times Nationwide Rate

Permian Methane Emissions Estimated at Three Times Nationwide Rate

New measurements by atmospheric scientists in the most productive part of the Permian Basin indicate methane is escaping from oil and natural gas wells at around three times the nationwide rate.

April 8, 2020
Permian Methane Emissions Estimated at Three Times Nationwide Rate

Permian Methane Emissions Estimated at Three Times Nationwide Rate

New measurements by atmospheric scientists in the most productive part of the Permian Basin indicate methane is escaping from oil and natural gas wells at around three times the nationwide rate.

April 8, 2020
Chevron Cuts Capex by 20% and Phillips 66 Defers Projects

Chevron Cuts Capex by 20% and Phillips 66 Defers Projects

Capital spending cuts are coming across the energy spectrum, with Chevron Corp. and Schlumberger Ltd. among the latest to respond aggressively to the unprecedented downturn in the oil and gas industry.

March 24, 2020
U.S. E&Ps Facing ‘Extensive Credit Shock’ on Coronavirus, Low Oil Prices

U.S. E&Ps Facing ‘Extensive Credit Shock’ on Coronavirus, Low Oil Prices

As Lower 48 natural gas and oil producers signal cutbacks to spending and activity, the latest data on permitting indicates operators already are “clearly retreating” in the wake of a devastating decline in oil prices and the effects of the Covid-19 pandemic.

March 20, 2020