Patterson-UTI Energy Inc. (PTEN), one of the biggest onshore contract drilling and pressure pumping companies in North America, reported that its rig count in August fell by almost half from a year ago and was down 5% month/month.
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Articles from Haynesville Shale
Louisiana Oil & Gas Facing ‘Very Difficult Times’ Not Seen Since 1980s
Louisiana’s oil and gas industry is in the midst of a crisis it hasn’t seen since the 1980s, and things could get worse in the months ahead if commodity prices remain low for an extended period of time, according to Don Briggs, president of the Louisiana Oil and Gas Association.
September 1, 2015
Encana Sells Haynesville Leasehold to GeoSouthern JV For $850M
Encana Corp. is selling its once-heralded Haynesville Shale natural gas portfolio, where it today has about 300 wells across 112,000 net acres, for $850 million to strengthen its ailing balance sheet.
August 25, 2015
U.S. E&Ps Using Slowdown to Build Better Onshore Oil, NatGas Wells
Anadarko Petroleum Corp. plans to drill 70 wells in Colorado this year versus 35 in 2014 using only one rig. Comstock Resources Inc. upended completion designs in the Haynesville Shale and is flowing more natural gas than ever. The names change but the story hasn’t — producers are lifting more oil and gas out of the ground and better costs than ever before, and it’s going to be repeatable year after year, according to a new analysis.
August 10, 2015
U.S. Gains 10 Rigs; Permian Sees Most Additions
The latest active rig count for North America from Baker Hughes Inc. shows a flip-flop from last week’s activity as the United States added 10 rigs and Canada dropped seven. In the previous week, Canada added rigs while the United States lost a handful (see Shale Daily,July 31).
August 7, 2015
Chesapeake Shares Dive Nearly 10% by Midday Following Quarterly Results
Chesapeake Energy Corp. saw its share price collapse on Wednesday after announcing it had shuttered more natural gas production in Appalachia, sharply reduced the total rig count and is prowling for buyers or partners to cope.
August 5, 2015
BP Substantially Boosts U.S. Onshore Rig Count, Mostly in Midcontinent
BP plc has increased its onshore rig count in the Lower 48 states and has increasing confidence in its U.S. prospects, CEO Bob Dudley said Tuesday.
July 29, 2015
Texas Economist Less Optimistic on Oil Prices
As oil and natural gas prices have declined, Texas production has been increasing, according to the economist who compiles the Texas Petro Index (TPI), and that’s a problem.
July 28, 2015
Haynesville Adds Three Rigs as U.S. Count Jumps 19
On a percentage basis, the venerable dry gas grandaddy Haynesville Shale led the major plays in terms of rigs added during a week that saw the U.S. rig count increase by 19 units.
July 24, 2015
New Onshore Wells Producing More Natural Gas, Oil in Big Seven Basins, Says EIA
New horizontal drilling and hydraulic fracturing technology has made a big difference in production from new wells, the Energy Information Administration reported this week.
July 16, 2015
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