Shale

Continental Expects Improved Cash Flow at $40/bbl as Production to Ramp Through End of 2020

Continental Expects Improved Cash Flow at $40/bbl as Production to Ramp Through End of 2020

After curtailing production in the second quarter amid the extraordinary disruptions caused by the coronavirus pandemic, Continental Resources Inc. (CLR) expects to boost cash flow at $40/bbl West Texas Intermediate (WTI) pricing as it looks to ramp up output through the end of the year, management said. The Oklahoma City-based independent in its 2Q2020 earnings…

August 6, 2020
One U.S. Natural Gas Rig Added as Count Shows Signs of Bottoming

One U.S. Natural Gas Rig Added as Count Shows Signs of Bottoming

The U.S. natural gas rig count increased one unit to 69 for the week ended Friday (July 24) as the latest Baker Hughes Co. (BKR) numbers offered further indication that domestic drilling activity is leveling off following the Covid-induced collapse earlier this year. The overall U.S. rig count finished unchanged at 251 for the week,…

July 31, 2020
Apache Curtailing Some Permian Oil Until Prices ‘Well Into the $50s,’ Says CEO

Apache Curtailing Some Permian Oil Until Prices ‘Well Into the $50s,’ Says CEO

Apache Corp. has no plans to raise rigs again in the Permian Basin “unless oil prices recover well into the $50s,” CEO John Christmann said Thursday. The Permian, which in recent years had been the Houston independent’s No. 1 prospect, continues to deliver “highly competitive economics,” Christmann said. However, “other areas within our portfolio offer…

July 31, 2020
Led by Permian, U.S. Oil Rigs Tally First Net Gain Since March, BKR Data Show

Led by Permian, U.S. Oil Rigs Tally First Net Gain Since March, BKR Data Show

Further retrenchment in natural gas-directed drilling dropped the overall U.S. rig count two units to 251 for the week ending Friday (July 24), but the domestic oil count edged higher for the first time in months, according to the latest data from Baker Hughes Co. (BKR). The United States added one oil-directed rig for the…

July 24, 2020
Argentina Natural Gas Production Falls 9.2% in May

Argentina Natural Gas Production Falls 9.2% in May

Natural gas production in Argentina decreased by 9.2% year/year in May to 124.4 million cubic meters/day (MMm3/d), or 4.39 Bcf/d, according to the latest report by the IAE Argentine Energy Institute. Analysts blamed the movement restrictions in place because of Covid-19 leading to lower activity and reduced demand. Argentina has had one of the strictest…

July 21, 2020
Utica, Haynesville Down as U.S. Drops Five Rigs

Utica, Haynesville Down as U.S. Drops Five Rigs

A drop-off in the Utica and Haynesville shales saw the U.S. rig count fall five units to finish at 253 for the week ending Friday (July 17), according to the latest figures from Baker Hughes Co. (BKR). Four natural gas-directed rigs exited the patch in the United States during the week, joined by one oil-directed…

July 17, 2020
North American E&P Bankruptcies Rising as Second Wave of Covid-19 Threatens ‘Very Painful’ Rest of 2020

North American E&P Bankruptcies Rising as Second Wave of Covid-19 Threatens ‘Very Painful’ Rest of 2020

The number of North American exploration and production (E&P) companies seeking bankruptcy protection continues to rise, with 23 operators filing since the start of the year, according to Haynes and Boone LLP. This is four more than what the law firm reported last month, and included former heavyweight Chesapeake Energy Corp. and Permian pure-play Lillis…

July 10, 2020
Vaca Muerta Showing Signs of Life as Argentina Considers Oil, Gas Incentive Bill

Vaca Muerta Showing Signs of Life as Argentina Considers Oil, Gas Incentive Bill

Oil and gas producers working in Argentina continued to increase activity in June, adding four rigs during the month, according to information from Baker Hughes Co.   Argentina had a total of six rigs running in June, compared to two in May and zero in April as the country had strict lockdown measures from the coronavirus…

July 7, 2020
Questerre Adds More Utica Shale Prospects in Quebec

Questerre Adds More Utica Shale Prospects in Quebec

A marathon campaign to revive dormant natural gas drilling in Quebec advanced a step in an asset transaction announced Wednesday by Questerre Energy Corp.

January 23, 2020
Questerre Adds More Utica Shale Prospects in Quebec

Questerre Adds More Utica Shale Prospects in Quebec

A marathon campaign to revive dormant natural gas drilling in Quebec advanced a step in an asset transaction announced Wednesday by Questerre Energy Corp.

January 23, 2020
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