Pausing what has been a steady upward trend going back to last year, the U.S. rig count dipped one unit to 542 for the week ended Friday, driven by a small decline in onshore oil-directed activity, the latest data from Baker Hughes Co. (BKR) show. A net decline of two oil-directed rigs was partially offset…
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Schlumberger Sees E&P Activity Climbing as Oil, Natural Gas Investments Accelerate
The global oil and natural gas upcycle has begun, with more capital spending set to flow into the onshore and offshore heading into 2022, Schlumberger Ltd. CEO Olivier Le Peuch said Friday. The head of the world’s largest oilfield services (OFS) company shared a bullish view of the energy markets during a third-quarter conference call…
Texas Oil, Gas Permitting Continues Recovering and California Requests Rising
The monthly U.S. oil and gas permit count was nearly flat in September from August, with activity in the Eagle Ford Shale and some smaller Lower 48 plays offsetting declines in the Powder River and Permian basins, according to Evercore ISI. Each month the Evercore team compiles federal and state permitting data to note the…
U.S. Natural Gas Drilling Activity Slows; Oil Continues to Surge
Even as the U.S. natural gas rig count fell one unit to 98 for the week ended Friday (Oct. 15), a surge in the oil patch lifted the combined domestic tally 10 units higher to 543, according to updated numbers from Baker Hughes Co. (BKR). A 12-rig increase in oil-directed drilling in the United States…
Oil Patch Sees Big Gains as U.S. Drilling Rises in Baker Hughes Tally
The U.S. rig count jumped 10 units higher to 543 during the week ended Friday (Oct. 15), propelled by a strong week of gains in the oil patch, according to the latest figures from Baker Hughes Co. (BKR). A 12-rig increase in oil-directed drilling in the United States offset net declines of one natural gas-directed…
ConocoPhillips’ Takeover of Shell’s Permian Stakes Leads 3Q Dealmaking, Says Enverus
U.S. upstream dealmaking during 3Q2021 slid from the record-setting sequential activity, but the overall values transacted still topped the five-year quarterly average, according to Enverus. Merger and acquisition (M&A) activity during 3Q2021 by U.S. exploration and production (E&P) companies was down 44% from 2Q2021. However, the $18.5 billion transacted overall was above the quarterly five-year…
U.S. Natural Gas Drilling Activity Steady as Oil Patch Expands Further
The U.S. natural gas rig count finished flat at 99 for the week ended Friday (Oct. 8), while continued expansion in the oil patch lifted the combined domestic tally five units higher to finish at 533, according to the latest data from Baker Hughes Co. (BKR). A net gain of five oil-directed rigs in the…
Permian Activity Rises as U.S. Oil Patch Expands Further
Another week of expansion in the oil patch, led by the Permian Basin, lifted the U.S. rig count five units higher to 533 for the week ended Friday, according to the latest figures published by Baker Hughes Co. (BKR). Natural gas-directed drilling went unchanged for the period, while the addition of five oil-directed rigs put…
Diversified Energy to Acquire Oklahoma Natural Gas Assets in $419M Transaction
Diversified Energy Co. plc will continue its Lower 48 expansion, this time into the Midcontinent, through an acquisition of natural gas-weighted Oklahoma assets from Tapstone Energy Holdings LLC. Diversified, in partnership with Oaktree Capital Management LP, has entered into conditional agreements to acquire upstream assets, field infrastructure, equipment and facilities in Oklahoma from Tapstone for…
Comstock to Exit Bakken for $154M, Boost Gassy Haynesville Completions
Comstock Resources Inc. plans to fund a boost in completions activity at its Haynesville Shale assets in Louisiana and Texas using the proceeds from selling properties in North Dakota. The Frisco, TX-based independent said Thursday it would exit the Bakken Shale, selling its assets to Northern Oil & Gas Inc. for $154 million in cash.…