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Eagle Ford Shale

E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

U.S. drilling permit activity climbed sharply in July, led by the Eagle Ford Shale, Powder River and Permian basins, but the overall numbers are still short from the pre-pandemic days of July 2019, according to Evercore ISI. The energy analyst team led by James West uses federal and state data to compile a monthly review…

August 16, 2021
U.S. Natural Gas Rig Count Down One as Oil Count Surges

U.S. Natural Gas Rig Count Down One as Oil Count Surges

The U.S. natural gas rig count dropped one unit to 102 for the week ended Friday (Aug. 13), while a surge in the oil patch drove a sharp increase in the combined domestic drilling tally, according to the latest figures from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for…

August 13, 2021
Strong Week for Eagle Ford, Williston Sends U.S. Rig Count Sharply Higher

Strong Week for Eagle Ford, Williston Sends U.S. Rig Count Sharply Higher

The Eagle Ford Shale and Williston Basin led a surge in U.S. onshore drilling activity during the week ended Friday as the domestic rig count rose nine units to an even 500, according to the latest figures from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week, offsetting…

August 13, 2021
Chesapeake Recommits to Natural Gas as Portfolio, Production Set to Balloon

Chesapeake Recommits to Natural Gas as Portfolio, Production Set to Balloon

Chesapeake Energy Corp. on Wednesday strengthened its commitment to boost natural gas output, announcing an acquisition to bolt on acreage in the Haynesville Shale and laying out early plans to focus heavily on the play and other gas-rich assets in the Appalachian Basin next year. The company’s plan to acquire Vine Energy Inc. for $2.2…

August 11, 2021
Devon CEO Not Ruling Out More Acquisitions as Rumors Swirl about Shell’s Permian Assets

Devon CEO Not Ruling Out More Acquisitions as Rumors Swirl about Shell’s Permian Assets

It’s already completed a big Lower 48 takeover this year, but Devon Energy Corp. isn’t ruling out making a bid on more oil and natural gas assets, the CEO said Wednesday. Over the last couple of weeks, rumors have swirled that Royal Dutch Shell plc may sell its Permian Basin portfolio, estimated to be worth…

August 5, 2021
Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Inc., whose portfolio stretches from Western Canada to West Texas, is seeing costs for materials and labor rising, but inflationary pressures and capital guidance are being kept in check with operational efficiencies, executives said Wednesday. CEO Doug Suttles, who is retiring, presided over his final conference call on Wednesday, ushering in a new era…

July 29, 2021
Lower 48 E&Ps in Turf War as Efficiencies, Low Costs Rule

Lower 48 E&Ps in Turf War as Efficiencies, Low Costs Rule

The battle to become a top oil and natural gas producer is no longer being waged by Jett Rink-like roustabouts toiling in the sun off of caliche roads in West Texas, but rather by algorithm experts sitting in darkened, air-conditioned offices in Houston. Exploration and production (E&P) companies looking for the edge to elevate their…

July 19, 2021
Domestic Oil, Gas Permitting Sputters in June, but Sharply Higher from Pandemic-Ridden 2020

Domestic Oil, Gas Permitting Sputters in June, but Sharply Higher from Pandemic-Ridden 2020

U.S. oil and gas drilling permitting has risen sharply from a year ago, but the gains are uneven, with the Denver-Julesburg (DJ) and Powder River basins drying up, while Haynesville Shale activity has increased, according to data compiled by Evercore ISI. The domestic permit count climbed by 32% in June from a year earlier, and…

July 13, 2021
Penn Virginia Looking to Lonestar to Build Eagle Ford Oil, Gas Potential

Penn Virginia Looking to Lonestar to Build Eagle Ford Oil, Gas Potential

Eagle Ford Shale pure-play Penn Virginia Corp. has agreed to buy Lonestar Resources Inc. in a deal that would expand its South Texas leasehold. Once completed, the Houston-based independent would control 143,000 net acres within the Eagle Ford, including Lonestar’s 53,000 net acres. Total sales volumes would be around 38,000 boe/d, up by about 13,000. …

July 13, 2021
PE-Backed WildFire Energy Acquiring Eagle Ford Pure-Play Hawkwood in $650M Deal

PE-Backed WildFire Energy Acquiring Eagle Ford Pure-Play Hawkwood in $650M Deal

Eagle Ford pure-play Hawkwood Energy LLC is set to be acquired by private equity-backed platform WildFire Energy I LLC, the firms announced Thursday. The transaction, slated to close in the third quarter, values Denver-based Hawkwood at about $650 million.  Hawkwood’s liquids-weighted gross production currently stands at about 15,000 boe/d, spanning 160,000 net acres in the…

July 9, 2021