Natural gas and oil production from the nation’s seven most prolific onshore unconventional plays will increase by an estimated 1.3% in December compared to November, marking the 12th consecutive month of upswing, according to the Energy Information Administration (EIA).
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ConocoPhillips expects to grow oil and natural gas production by 5% and spend $5.5 billion a year on capital expenditures (capex) through 2020, but executives said the company could maintain flat production, including in the U.S. onshore, to leave room for dividends in case oil prices decline.
The Mexican government continues to update its environmental regulations as authorities prepare for the first exploration and production (E&P) auction to feature blocks with unconventional oil and natural gas resources since the energy reforms of 2013.
The Pennsylvania Department of Environmental Protection (DEP) plans to raise fees it levies on operators of unconventional wells, but did not say by how much.
Implementing a law passed earlier this year by the state legislature, the Oklahoma Corporation Commission (OCC) has adopted on an emergency basis long-lateral drilling rules that apply to all oil and natural gas formations in the state, not only unconventional plays.
U.S. onshore unconventional growth began to exhibit “material and persistent” monthly output growth in the first quarter after bottoming out in mid-2016, a trend likely to continue through 2017, according to an analysis by Rystad Energy.
ExxonMobil Corp. plans to direct a bigger slice of its capital to U.S. unconventionals, short-cycle plays where activity can be turned up or down as commodity prices fluctuate, CEO Darren Woods said Wednesday.
Even as supplies tighten, ample production from U.S. unconventional drilling will pressure commodity prices for years to come, ExxonMobil Corp. CEO Rex Tillerson said Wednesday.
Manufactured Unconventional NatGas More Price Responsive, Less Volatility Than Traditional Production
Unconventional natural gas wells tend to take longer to reach production but they may be almost three times as responsive as conventional gas wells, almost entirely because of higher productivity, an analysis has found.
The Upper Devonian and Utica shales contributed meaningfully for the first time to Pennsylvania’s natural gas output in 2015, according to an annual oil and gas report that was released on Monday by the state’s Department of Environmental Protection (DEP).