Eagle Ford Shale

With activity ramping up on land and offshore, the U.S. rig count surged 13 units higher to 430 during the holiday-shortened week ended Thursday (April 1), according to data published by Baker Hughes Co. (BKR). As has often been the case recently, the increase in domestic drilling for the week was driven by the oil…

The U.S. natural gas rig count eased one unit lower to 91 for the holiday-shortened week ended Thursday (April 1), while a spring surge in the oil patch sent the overall domestic tally higher by double digits, according to data published by Baker Hughes Co. (BKR). Thirteen oil-directed rigs were added in the United States,…

Another round of healthy gains in the oil patch pushed the U.S. rig count six units higher to 417 for the week ended Friday (March 26), according to data from oilfield services provider Baker Hughes Co. (BKR). After adding nine rigs in the previous week, the domestic oil patch picked up an additional six rigs…

Under pressure to reduce debt and simplify operations, Denver-based Ovintiv Inc. is set to exit the Eagle Ford Shale in a deal with  privately held Validus Energy for $880 million. Predecessor Encana Corp. paid $3.1 billion for the assets in 2014 in a deal with Freeport McMoRan Copper & Gold Inc. Proceeds are to be…

Oil and natural gas activity sharply expanded during the first three months of the year in Texas, New Mexico and Louisiana, according to a survey by the Federal Reserve Bank of Dallas. Every quarter the Dallas Fed, as it is better known, surveys executives of exploration and production (E&P) firms and oilfield services (OFS) companies…

Buoyed by growth in the oil patch, the U.S. rig count surged nine units higher to 411 for the week ending Friday (March 19), according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). The total number of domestic oil-directed rigs rose nine units to 318, while natural gas-directed rigs remained unchanged…

Eagle Ford Shale pure-play Penn Virginia Corp. plans to maintain its current two-rig program through 2021 to grow production after it temporarily suspended drilling last year because of the Covid-19 pandemic. During a conference call Wednesday to discuss 4Q2020 results, CEO Darrin Henke said continuing with two rigs “makes sense” in light of the recent…

The active number of U.S. fracture spreads jumped nearly 15% month/month in February, driven by strength in the Permian Basin, even as “Snowvid” shut in wells and sent crews packing, according to Tudor, Pickering, Holt & Co. (TPH). Data compiled by TPH indicated that oilfield services (OFS) operators increased the number of crews working in…

Natural gas production from seven key U.S. shale plays is set to fall by a combined 560 MMcf/d from February to March as output from most major producing regions is expected to slow over the next month, according to the U.S. Energy Information Administration (EIA). Combined natural gas output from the Anadarko, Appalachian and Permian…