permian

Permian Basin-focused Independent Patriot Energy Inc. said Tuesday a well drilled in the basin may have producing pay zones, including in the Upper Wolfcamp Shale, beyond what was anticipated.

U.S. oilfield activity over the next year is going to be ugly, but a robust recovery should be underway in 2017, led by the Permian Basin, Eagle Ford and Bakken shales, Raymond James & Associates Inc. said Monday.

Oil production is growing in the Permian Basin and headed to higher, more profitable levels, according to Occidental Petroleum Corp. (Oxy) senior executives, who reported 2Q2015 results Thursday that were back in the black after losses sustained in the first quarter.

The U.S. rig count continues to decline, but oil supplies aren’t in a “consistent decline,” in part, say analysts, because the number of wells drilled in the onshore is sharply higher than the number of wells awaiting completion.

Rig count data for the 14 unconventional oil and natural gas basins tracked by Baker Hughes Inc. showed that rig movement for the week ending June 19 was flat at 650, while NGI's assessment of eight additional basins from Baker Hughes data showed a week-over-week increase of four rigs to 60.

The U.S. rig count continues to decline, but oil supplies aren't in a "consistent decline," in part, say analysts, because the number of wells drilled in the onshore is sharply higher than the number of wells awaiting completion.

Rig count data for the 14 unconventional oil and natural gas basins tracked by Baker Hughes Inc. showed that rig movement for the week ending June 19 was flat at 650, while NGI’s assessment of eight additional basins from Baker Hughes data showed a week-over-week increase of four rigs to 60.

Apache Corp., under pressure to sell or spin off its international portfolio to focus on the U.S. onshore, on Monday said it has reorganized its global operations, with the North American businesses, including Canada, now part of two "super" Permian and Houston regional units.

Apache Corp., under pressure to sell or spin off its international portfolio to focus on the U.S. onshore, on Monday said it has reorganized its global operations, with the North American businesses, including Canada, now part of two “super” Permian and Houston regional units.