Chevron Ties Output Gains to Deepwater GOM, Australian LNG

Led by massive projects in the deepwater of the Gulf of Mexico (GOM) and Australian liquefied natural gas (LNG), Chevron Corp. is maintaining a production target of 3.3 million boe/d by the end of 2017, executives said Friday.

July 30, 2012

Unconventional Rig Count Down 7% Year-on-Year on Weak Prices

The shale development frenzy of the last couple of years has cooled dramatically in recent months as natural gas prices, and more recently crude and natural gas liquids prices, have plummeted. Out of the 13 U.S. plays for which NGI’s Shale Daily tracks unconventional rig counts, nine are showing a lower level of drilling activity than one year ago, with most of them recording a drop of 30% or more.

July 16, 2012

WPX Energy: Pennsylvania Water Wells Not Fouled by Drilling

WPX Energy Inc. said it has determined through isotopic testing that four contaminated drinking water wells in Susquehanna County, PA, were fouled by naturally occurring methane and not by Marcellus Shale drilling.

May 11, 2012

With Record Production in First Quarter, Ultra Cuts Capex

Ultra Petroleum Corp. said that while it produced record volumes during 1Q2012 and was optimistic about its plans to target oil shale in the Niobrara, it would follow the example of its joint venture (JV) partners in the Marcellus and cut capital expenditures (capex) for the rest of the year.

May 8, 2012

North Dakota Oil Doubles, Moves Nationwide

Based on the state’s latest statistics as of the end of February, North Dakota’s oil production has doubled in the past two years, and with the help of increased rail transportation it is being marketed nationwide.

April 18, 2012

Encana Clinches $2.9B Cutbank Ridge Deal with Mitsubishi

Japan’s Mitsubishi Corp. is investing $2.9 billion to acquire a 40% stake in Encana Corp.’s Cutbank Ridge leasehold in British Columbia, the companies said Friday. The deal is set to close this month.

February 21, 2012

Barclays: North American E&P Spending to Target Oil, Liquids in 2012

North American producers plan to target their 2012 capital expenditures mostly to oil and liquids-rich basins, with the Permian Basin and West Texas leading the list, according to a new spending survey by Barclays Capital.

December 23, 2011

Louisiana Touts Tuscaloosa Results

Recent production test results from the first two horizontal wells completed in the Tuscaloosa Marine Shale (TMS) in Louisiana have been encouraging and there is likely more good news to come, according to the state’s Department of Natural Resources (DNR) secretary.

December 20, 2011

Nexen Takes Pacific Rim Partners in GOM, Shale Projects

Nexen Inc. last week secured two joint ventures (JV) in two separate transactions, both with Asian companies, that promise to give the Calgary-based independent a solid footing to expand development in the Gulf of Mexico (GOM) as well as British Columbia (BC).

December 5, 2011

Oil Plays Lead Unconventional Drilling Growth

The Cana-Woodford, Eagle Ford and Bakken/Sanish/Three Forks plays continued to lead the activity growth in unconventional fields over the last year as oil and gas producers put more weight on liquids-rich shales to take advantage of higher commodity prices found in oil and natural gas liquids. Conversely, some of the nation’s dry gas shales have seen the largest drilling activity declines as natural gas prices remain below $4/MMBtu for much of the country.

October 3, 2011