It’s not how many rigs there are in the shale patch; it’s what they’re doing. As drilling productivity continues to climb, the industry has realized a simple rig count is a poor indicator of future production. Now the Energy Information Administration (EIA) is monitoring and reporting on drilling productivity.
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Drill, Baby, Drill — Faster Still
The average U.S. onshore drilling rig is producing 2% more wells than it did three months ago, and increasingly, rigs are targeting liquids-rich plays over those known for producing dry gas, according to Baker Hughes Inc.
Chesapeake Lay-Offs Part of Moves to Rein in Spending
More than 800 Chesapeake Energy Corp. employees were laid off on Tuesday as CEO Doug Lawler continues to make over the company that Aubrey McClendon built (see related story).
Shales Make it Rain Severance Taxes in Texas
The Lone Star State's Rainy Day Fund purse has grown fat from oil and gas tax revenues, and that's expected to continue as Texas drillers drive production…
Shales Helping Make United States Largest NatGas Producer This Year
Production from the eastern United States, including the powerhouse Marcellus Shale, will help make the country the world’s top producer of natural gas this year, ahead of Saudi Arabia, the Energy Information Administration (EIA) said Friday.
Forest Unloads Texas Panhandle Assets for $1B, Focusing on Eagle Ford
Forest Oil Corp. struck a $1 billion deal to sell oil and gas assets in the Texas Panhandle to Templar Energy LLC as part of a deleveraging program that will allow the company to focus on the Eagle Ford Shale. One analyst called the sale a positive, but investors booed and sent Forest shares tumbling on Friday.
Oil Patch LNG Venture Picks Eagle Ford for First Project
Stabilis Energy and Koch Industries unit Flint Hills Resources LLC plan to build up to five liquefied natural gas (LNG) liquefiers to serve oilfield fuel consumers. Their first project is slated for the Eagle Ford Shale.
ZaZa, EOG Step Up Eagle Ford JV Activity
ZaZa Energy Corp. and joint venture (JV) partner EOG Resources Corp. have revised their agreement in order to further develop and expand their Eaglebine/Eagle Ford Shale East assets
Shell Selling Eagle Ford Shale Stake
After taking a more than $2 billion charge against its Canadian and U.S. liquids-rich properties in the second quarter, Royal Dutch Shell plc has decided that its Eagle Fore Shale assets would be better off in the hands of someone else.
U.S. Net Oil Independence Possible by 2020, Says Raymond James
The United States is on track to become net oil independent by 2020, if production continues on its current path in the Permian and Williston basins, and in the Eagle Ford, Raymond James & Associates Inc. analysts said Monday.