Shale

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

ConocoPhillips Snapping Up Shell’s Permian Portfolio for $9.5B

Houston-based ConocoPhillips on Monday agreed to pay $9.5 billion to buy Royal Dutch Shell plc’s Permian Basin portfolio, which a Shell executive said reflected “our focus on value over volumes” as it accelerates its energy transition from fossil fuels. Shell’s Permian business includes ownership in 225,000 net acres with current production of around 175,000 boe/d.…

September 20, 2021
Citgo’s Refining Unit in South Texas Disrupted as Covid Cuts Oxygen Supply

Citgo’s Refining Unit in South Texas Disrupted as Covid Cuts Oxygen Supply

Citgo Petroleum Corp. shut down a key component of its Corpus Christi, TX, refinery following an oxygen supply disruption from a vendor because of increased demand from the medical industry. In a filing with the Texas Commission on Environmental Quality (TCEQ) last Thursday (Sept. 2), Citgo said it shut down the Sulfur Recovery Unit B-Train…

September 3, 2021
E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

U.S. drilling permit activity climbed sharply in July, led by the Eagle Ford Shale, Powder River and Permian basins, but the overall numbers are still short from the pre-pandemic days of July 2019, according to Evercore ISI. The energy analyst team led by James West uses federal and state data to compile a monthly review…

August 16, 2021
Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement

Equinor Grows Marcellus Output and North American Natural Gas Fetches 53% Price Improvement

Norwegian state player Equinor ASA logged lower overall U.S. oil and natural gas production in 2Q2021 primarily because of its recent Bakken Shale exit, but that decline was offset by growth in the gassy Marcellus Shale. Average daily equity production of liquids and gas was 391,000 boe/d in 2Q2021 compared with 405,000 boe/d in the…

July 28, 2021
U.S. Rig Count Pauses at 470 on Gain in Natural Gas Patch, Small Decrease in Oil Drilling

U.S. Rig Count Pauses at 470 on Gain in Natural Gas Patch, Small Decrease in Oil Drilling

A small decline in the oil patch and a small gain in natural gas-directed drilling left the combined U.S. rig count unchanged at 470 during the week ended Friday (June 25), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). One natural gas rig was added and one oil rig exited…

June 25, 2021
Oxy Sells Colgate Energy Slice of Permian West Texas Acreage, Production

Oxy Sells Colgate Energy Slice of Permian West Texas Acreage, Production

Occidental Petroleum Corp. is selling off 25,000 net acres in its West Texas holdings in the Permian Basin, along with the production, to private equity (PE) sponsored Colgate Energy Partners III LLC. The $508 million deal by Oxy, as it is better known, includes 25,000 net acres in Reeves and Ward counties within the Delaware…

June 11, 2021
Oil Count Up, Natural Gas Down as U.S. Adds Two Rigs in Latest Tally

Oil Count Up, Natural Gas Down as U.S. Adds Two Rigs in Latest Tally

A mix of gains and losses in the U.S. onshore, including an uptick in the Permian Basin and a drop in the Marcellus Shale, saw the domestic rig count finish at 457 units as of Friday (May 28), up two week/week, according to Baker Hughes Co. (BKR). The addition of three oil-directed rigs in the…

May 28, 2021
Onshore Gains Nudge U.S. Rig Count Higher as GOM Total Shrinks

Onshore Gains Nudge U.S. Rig Count Higher as GOM Total Shrinks

Gains in land drilling offset a decline in the Gulf of Mexico (GOM) to send the U.S. natural gas rig count two units higher to 455 for the week ended Friday (May 21), according to the latest numbers from Baker Hughes Co. (BKR). Four oil-directed rigs were added in the United States for the week,…

May 21, 2021
Enerplus Expects Bakken Production to Grow After Acquisitions

Enerplus Expects Bakken Production to Grow After Acquisitions

Canadian independent Enerplus Corp. reported lower year/year production for the first quarter but it is poised to resume growing output in the Bakken Shale of North Dakota following a pair of recent acquisitions. Natural gas production for the firm, which also has assets in the Marcellus Shale, dropped to 255.7MMcf/d in the first three months…

May 14, 2021
Appalachian Natural Gas, Coal Produce Most Methane in U.S., Kayrros Says

Appalachian Natural Gas, Coal Produce Most Methane in U.S., Kayrros Says

New measurements released last week by Kayrros quantifying emissions across the Appalachian Basin show the region is the biggest source of methane in the United States. Kayrros, which uses satellites and other methods to track emissions, said methane from Appalachia exceeds even the country’s most active oil and gas fields in the Permian Basin. But…

April 26, 2021
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