Permian Basin

Lifted by Permian, Appalachia, U.S. Upstream Dealmaking Slightly Better in 2Q

Lifted by Permian, Appalachia, U.S. Upstream Dealmaking Slightly Better in 2Q

Dealmaking in the United States within the upstream oil and gas sector staged a slight recovery in the second quarter, with three of five deals in Appalachia, but the period still ranks as the third lowest in quarterly value since 2009, according to Enverus. The data analytics company in its summary of 2Q2020 U.S. upstream…

July 6, 2020
U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

U.S. Rig Count Down as Oil, Gas Patch Shows Signs of Stabilizing Post-Covid

Posting its smallest weekly decline in months, the U.S. rig count dropped one unit to finish at 265 for the week ending Friday (June 26), suggesting that upstream activity could finally be stabilizing after a prolonged period of Covid-induced retrenchment. According to the latest Baker Hughes Co. (BKR) data, total U.S. natural gas-directed rigs finished…

June 26, 2020
Matador Brings Five Permian Delaware Wells Online, with 18 Wells and Gas Processing Slated for Q3 Completion

Matador Brings Five Permian Delaware Wells Online, with 18 Wells and Gas Processing Slated for Q3 Completion

Matador Resources Co. said Thursday it has brought five horizontal wells in the Permian Basin’s Delaware sub-basin into production, and it plans to bring 18 more wells and a natural gas processing plant online in the third quarter.

June 18, 2020
Texas Regulators Looking to ‘Drastically Reduce’ Natural Gas Flaring in Oilfields

Texas Regulators Looking to ‘Drastically Reduce’ Natural Gas Flaring in Oilfields

A push to revamp allowed natural gas flaring in Texas oilfields is underway, with potential changes coming as soon as this fall.

June 17, 2020
Third Straight Natural Gas, Oil Production Downturn Expected in July from Key Lower 48 Plays

Third Straight Natural Gas, Oil Production Downturn Expected in July from Key Lower 48 Plays

For what would be a third straight month, oil and natural gas production from seven of the nation’s most prolific onshore unconventional plays will be down in July compared to June, the Energy Information Administration (EIA) said Monday.

June 15, 2020
Oil, Gas Activity Stabilizing as U.S. Drops Five Rigs in Latest Weekly Count

Oil, Gas Activity Stabilizing as U.S. Drops Five Rigs in Latest Weekly Count

The steep downward slope in U.S. drilling activity the past three months showed signs of leveling off during the week ended Friday (June 12) as the domestic count dropped a relatively modest five rigs, according to the latest numbers from Baker Hughes Co. (BKR).

June 12, 2020
Natural Gas-Rich Appalachia, Haynesville May Fill Shortfall from Permian Associated Output, Says IEA

Natural Gas-Rich Appalachia, Haynesville May Fill Shortfall from Permian Associated Output, Says IEA

Protracted low West Texas Intermediate (WTI) oil prices may lead exploration and production operators to look beyond the Permian Basin to make up for a shortfall in associated gas to service domestic demand and export needs, giving other Lower 48 areas a needed boost, the International Energy Agency (IEA) said Wednesday.

June 11, 2020
Covid-19 Claims Another Lower 48 Operator as Vista Proppants Seeks Chapter 11

Covid-19 Claims Another Lower 48 Operator as Vista Proppants Seeks Chapter 11

Fracture sand provider Vista Proppants & Logistics LLC has filed for bankruptcy protection, citing financial pressures related to the coronavirus pandemic.

June 11, 2020
U.S. Natural Gas Permitting in May Falls Most in Decade while Permian Suffers Largest Monthly Decline

U.S. Natural Gas Permitting in May Falls Most in Decade while Permian Suffers Largest Monthly Decline

The Permian Basin in May reported the largest monthly decline in oil and gas permits ever, down 47% from April, as applications by large-cap operators fell to their lowest levels in history, off by almost three-quarters, Evercore ISI said Tuesday.

June 9, 2020
U.S. Midstream Companies Facing Tough Road Even as Crude Prices, Production Recover

U.S. Midstream Companies Facing Tough Road Even as Crude Prices, Production Recover

The oil market may begin to recover next month, but U.S. midstream companies still face a “challenging” environment as cash flow, low pipeline utilization and other factors may stall a return to financial health, according to Wood Mackenzie.

June 8, 2020
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