Shut-Ins

EOG Swings to Steep Loss as Coronavirus Crimps Demand, but Shut-ins Coming Back Online

EOG Swings to Steep Loss as Coronavirus Crimps Demand, but Shut-ins Coming Back Online

Weakened commodity prices and lower production volumes dragged EOG Resources Inc. into the red in the second quarter, as the super independent pulled back on drilling and slashed capital expenditures (capex) in response to the demand destruction created by the coronavirus pandemic. The Houston-based company, which works in the Lower 48, Trinidad and China, said…

August 7, 2020
ConocoPhillips Reversing North American Curtailments, Monitoring Oil, Gas Prices

ConocoPhillips Reversing North American Curtailments, Monitoring Oil, Gas Prices

Houston-based ConocoPhillips has begun ramping up shut-in oil and gas volumes from across North America, with most output set to be “fully restored” in September. The largest independent in the world issued its second quarter results on Thursday, with CEO Ryan Lance sharing insight during a conference call. He acknowledged what many of his peers…

July 30, 2020
Montage Turning Shut-in Production Back to Sales as Crude, NGL Prices Increase

Montage Turning Shut-in Production Back to Sales as Crude, NGL Prices Increase

Appalachian pure-play Montage Resources Corp. said rising oil and natural gas liquids (NGL) prices have prompted it to bring back production curtailed earlier in the year, which has led to an increase in full-year guidance.

June 3, 2020
U.S. Oil ‘Curtailment Wave’ Forecast to Top 2 Million B/d in June

U.S. Oil ‘Curtailment Wave’ Forecast to Top 2 Million B/d in June

Public and privately held producers working across the United States are shutting in wells and cutting expenses at an accelerated pace since Covid-19 became a demand killer, and curtailed oil and liquids output is forecast to climb to “at least” 2 million b/d in June.

May 13, 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
Global LNG Production Shut-Ins Seen Imminent as Prices Continue Falling

Global LNG Production Shut-Ins Seen Imminent as Prices Continue Falling

The outlook for liquefied natural gas (LNG) is growing dimmer as prices across the world have fallen by double-digits this year and the Covid-19 pandemic continues to ravage demand in markets already awash in supplies, suggesting production shut-ins are practically guaranteed in multiple countries.

April 17, 2020

U.S. Natural Gas Seen Moving Above $3 as Operators Shut-in Oil Wells

Domestic natural gas operators are beginning to regain control of the market and could see prices move “sustainably” above $3.00/Mcf as the U.S. oil supply declines, according to analysts.

April 13, 2020

U.S. Natural Gas Seen Moving Above $3 as Operators Shut-in Oil Wells

Domestic natural gas operators are beginning to regain control of the market and could see prices move “sustainably” above $3.00/Mcf as the U.S. oil supply declines, according to analysts.

April 13, 2020
No Doomsday Scenario Seen for U.S. Energy Market in Tricky Predictions of LNG Shut-Ins

No Doomsday Scenario Seen for U.S. Energy Market in Tricky Predictions of LNG Shut-Ins

U.S. liquefied natural gas (LNG) terminals are unlikely to shut in significant amounts of the super-chilled fuel this year, but as the export market confronts historically low prices and a global supply glut, it’s not a possibility that can be easily ruled out or even defined.

February 28, 2020