Wells

CNX Resources Corp. said Tuesday it would increase spending this year and drill more wells that won’t come online and benefit the company until 2020, despite investors who continue to expect capital discipline.

Rystad Energy is forecasting oil and gas drillers to reach for the moon and beyond in the next five years, at least in terms of drilling depths, with North America’s shale and tight resources propelling it into a “league of its own.”

U.S. well productivity gains posted last year may not repeat in 2019 with the same magnitude, but domestic output still should drive the global market in the next decade, according to Raymond James & Associates Inc.

A controversial drilling site near the University of Southern California campus in Los Angeles is ending some operations because of low production and a lack of payments to the state.

Despite four years of trying to fix the problem, the Bureau of Land Management (BLM) inspection program for oil and natural gas wells still has a significant workforce imbalance, according to a report by the Government Accountability Office (GAO).

Permian pure-player Laredo Petroleum Inc. reported record production in 3Q2018, but moving forward the company expects to drill infill wells on wider spacing and may consider spending less in 2019.

The Interior Department’s plans to rescind most of an Obama-era rule governing associated natural gas flaring and venting on public and tribal lands is welcome news for operators of marginal, aka stripper, wells on such lands. Oil and gas industry experts and analysts say the rescission could save smaller operators’ livelihoods and spare tens of thousands of wells from becoming uneconomical and shut in.

No link has been found after four years of study between natural gas production activities in the Barnett Shale of North Texas and methane in water wells outside of Fort Worth, academic researchers said Tuesday.

Goodrich Petroleum Corp. said two wells targeting the Haynesville Shale in Louisiana, Wurtsbaugh 35 No.1 and Demmon 34 No. 1, achieved a 24-hour peak production rate of about 22,500 Mcf/d. Both wells were drilled into the Bethany-Longstreet field in DeSoto Parish, LA, with 4,600-foot laterals. The company holds a 71% working interest (WI) in the Wurtsbaugh well and an 89% WI in the Demmon well. The wells came online in July and August, respectively. Goodrich said company-wide production hit 90,000 Mcfe/d after the completion of both wells. The company added that production “is projected to meaningfully increase again” once it completes the Harris 14&23H-1 (98.5% WI) well, where hydraulic fracturing operations are expected to begin soon.