It used to be that about half of the operating drilling rigs in the United States were doing their thing in the Lone Star state. Texas only accounts for about 44% of the total now, according to Baker Hughes Inc. And permitting for new drilling in Texas is way down from a year ago.
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Articles from Permian Basin
IHS: Permian Offshoot Making Producers Wait Longer For Payback
Despite cost declines, depressed commodity prices generally don’t support drilling in the Northern Midland Basin, a subbasin of the Permian, according to IHS Energy.
November 12, 2015
Encana Reduces D&C Costs, Accelerates Permian Spending, But Impairments Continue
Encana Corp. is putting its pedal to the metal in the Permian Basin with improving efficiencies and has elected to transfer capital earmarked for 2016 into the play, CEO Doug Suttles said Thursday.
November 12, 2015
Apache Pursuit Over, Says Anadarko
Anadarko Petroleum Corp. confirmed Wednesday it approached Apache Corp. about a potential buyout, but there currently are no “discussions of substance” after an initial offer was rejected.
November 11, 2015
EV Energy Lowering Expectations, Might Cut Distribution Next Year
Depressed commodity prices, declining production and lower distributable cash flow (DCF) are heralding a potential cut to EV Energy Partners unitholder distributions next year unless commodity prices improve, executives said Monday.
November 9, 2015
Shale Play Production Declines Steeper in December, EIA Predicts
Total natural gas and oil production from the nation’s seven largest unconventional plays, which has been on a mild downturn since April, will decline more steeply next month compared to November, the Energy Information Administration (EIA) said.
November 9, 2015
Marathon Oil Targeting Eagle Ford, Oklahoma For Growth
One week after reaching into investors’ pockets with a dividend cut, Marathon Oil Corp. CEO Lee Tillman told analysts some of the dollars that would have gone to shareholders will find their way to the Eagle Ford Shale and the company’s emerging Oklahoma resource plays.
November 6, 2015
Apache Permian Rig Count Drops to 10 From 42 in December; Losses Total $5.66B
Apache Corp.’s North American production fell 14% year/year during the third quarter, while writedowns contributed to a $5.66 billion loss. The Permian Basin, its biggest U.S. onshore focus, only has 10 rigs running today, versus 42 a year ago.
November 6, 2015
U.S. Rig Count Decline Moderates, Still Further to Fall
The United States saw a net loss of four rigs in the most recent county by Baker Hughes Inc. released Friday Nov. 6. That’s a slowing of the decline rate seen in the previous week, but indications are that the count will continue to drop in the weeks ahead.
November 6, 2015
Cimarex Beats 3Q Output Guidance, to Deploy 12 Rigs in 2016
The pursuit of more efficient drilling and the use of longer laterals continued to be the name of the game for Cimarex Energy Co. during the third quarter, as it cut from 16 to 12 the number of rigs it plans to deploy in the Permian Basin and the Midcontinent next year. But the company blew past its production guidance, and impairments on the value of its oil and gas portfolio trimmed quarterly earnings by more than $750 million.
November 5, 2015
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