Eagle Ford Shale

With gains spread across both natural gas- and oil-directed drilling, the U.S. rig count continued its upward climb during the week ended Friday (May 13), adding nine units to reach 714, according to the latest tally from Baker Hughes Co. (BKR). Six oil-directed rigs and three natural gas-directed rigs were added in the United States…

EOG Resources Inc. has updated its plans for developing stacked natural gas pay zones in the massive Dorado natural gas play in the Austin Chalk and Eagle Ford Shale in South Texas. “Our preliminary plan for the play was to focus initial development on the Austin Chalk formation and then follow that with the Eagle…

SilverBow Resources Inc. agreed to acquire Sundance Energy Inc. and key assets of SandPoint Operating LLC, a pair of Eagle Ford Shale oil and gas independents, for up to $440 million in total. Houston-based SilverBow, an Eagle Ford pure-play, said Friday it would pay $354 million – plus up to $15 million of contingent payments…

The U.S. natural gas rig count rose two units to 143 for the week ended Thursday (April 14), matching a two-rig increase in oil-directed drilling for the period, the latest figures from Baker Hughes Co. (BKR) show. The combined U.S. rig count climbed to 693 for the week, up 254 units from its year-earlier total…

Including upticks in drilling activity in the Permian Basin and Eagle Ford Shale, the U.S. rig count ratcheted higher during the week ending Thursday (April 14), climbing four units to 693, according to the latest tally from Baker Hughes Co. (BKR). Two oil-directed rigs and two natural gas-directed rigs were added in the United States…

Texas pipeline company Max Energy has purchased the Upper Gulf Coast Pipeline from Southcross Gulf Coast Transmission Ltd. and is working to convert the system from natural gas to crude oil. Max said the eight-inch to 16-inch diameter natural gas pipeline is dormant and “strategically located.” The Southcross intrastate system has numerous intersection points with…

Lower 48 oil and natural gas permitting activity has picked up since the beginning of the year, climbing by 9% through February from a year ago, according to Evercore ISI. There were 188 more permits issued in February month/month (m/m). However, permitting was still down by half from February 2019, on the cusp of the…

Texas’ upstream oil and gas employment reached 176,300 in January, representing a month/month increase of 1,200 jobs and a 16,000-job gain year/year, the Texas Independent Producers and Royalty Owners Association (TIPRO) reported last week. “Our industry will experience continued growth in employment in oil and gas production this year to meet growing global demand for…

Magnolia Oil and Gas Corp. plans to continue operating a two-rig program in South Texas this year, which it expects to generate “high single-digit production growth” from the Eagle Ford Shale and Austin Chalk programs, CEO Steve Chazen said last week. CFO Chris Stavros said one rig would be “dedicated to drilling development wells” in…