Haynesville Shale

Two of Appalachia’s leading operators said Friday that they would curtail some production this shoulder season, but both are anticipating a long-awaited increase in natural gas prices later in the year.

Regulators who oversee the Texas energy industry may decide within days whether to require oil output be reduced or instead allow the free markets to continue to dictate, as the coronavirus and low prices decimate the marketplace.

The dramatic decline in U.S. onshore activity showed no signs of letting up during the week ended Friday (April 17) as the domestic rig count plummeted another 73 rigs to fall to 529, according to the latest figures from Baker Hughes Co. (BKR).

Having already plunged by 62% year/year (y/y) in the first three months of 2020, permitting for Lower 48 oil and natural gas drilling is expected to drop further in April, according to a team of Evercore ISI analysts led by James West.

Reflecting the impact of both the coronavirus pandemic and the global oil price war, natural gas and oil production from seven of the most prolific onshore U.S. unconventional plays is expected to decline in May compared with April, according to the Energy Information Administration (EIA).

Chesapeake Energy Corp. shareholders have authorized a reverse stock split allowing the company to combine 200 shares into one.

Reflecting the impact of both the coronavirus pandemic and the global oil price war, natural gas and oil production from seven of the most prolific onshore U.S. unconventional plays is expected to decline in May compared with April, according to the Energy Information Administration (EIA).

Chesapeake Energy Corp. shareholders have authorized a reverse stock split allowing the company to combine 200 shares into one.

U.S. operators continued to dramatically rein in activity during the period ended Thursday (April 9), with the domestic count falling 62 rigs to 602, according to the latest numbers from Baker Hughes Co. (BKR).