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Shale Daily

Enerplus Builds Bakken Stronghold with Takeover of Pure-Play Bruin E&P

Enerplus Builds Bakken Stronghold with Takeover of Pure-Play Bruin E&P

Canadian producer Enerplus Corp. has gained more exposure in North Dakota’s Bakken Shale with a $465 million takeover of Houston-based Bruin E&P HoldCo LLC. The deal announced Monday for the North Dakota assets of the Bakken pure-play is forecast to propel a 20% production jump for Calgary-based Enerplus to a combined 103,500-108,500 boe/d.  The acquired…

January 26, 2021
Hess Raising Capex Slightly, with Focus Trained in Bakken, Offshore Guyana

Hess Raising Capex Slightly, with Focus Trained in Bakken, Offshore Guyana

Hess Corp. remains laser-focused on developing assets in the Bakken Shale of North Dakota and offshore Guyana, directing the lion’s share of its $1.9 billion exploration and production (E&P) capital and exploratory budget to the “high return, low cost” assets for 2021. The New York City-based producer in the first quarter is set to increase…

January 25, 2021
ONE Future Adds Colorado’s Crestone Peak to Ranks

ONE Future Adds Colorado’s Crestone Peak to Ranks

Crestone Peak Resources has joined Our Nation’s Energy Future (ONE Future), the first producer focused on the Denver-Julesburg (DJ) Basin to do so. ONE Future is a group of energy companies set on reducing methane emissions to 1% or less by 2025. Crestone is ONE Future’s 37th group member and the second energy company this…

January 25, 2021
Corpus Port in South Texas Sees 65% Jump in Oil Exports, 26% More LNG Exports in 2020

Corpus Port in South Texas Sees 65% Jump in Oil Exports, 26% More LNG Exports in 2020

The Port of Corpus Christi, a growing gateway for energy exports, ended 2020 with record tonnage, mainly attributed to a 65% increase in oil shipments, authorities said.  In addition to increased oil shipments totaling 96.4 million tons, the port saw a 26% increase year/year in liquefied natural gas (LNG) shipments at 8.7 million tons. The…

January 25, 2021
California Oil, Gas Drilling Hits Historic Lows in 2020

California Oil, Gas Drilling Hits Historic Lows in 2020

New oil and natural gas drilling hit historic lows in California last year while a renewed emphasis on abandoned wells turned up a record high number of permanently sealed wells, the state Geologic Energy Management Division (CalGEM) reported Wednesday. The severe downturn in permitting and new drilling can be seen as a result of the…

January 25, 2021
EIA Reports Increase in U.S. Crude Inventories, Decline in Exports

EIA Reports Increase in U.S. Crude Inventories, Decline in Exports

Commercial crude oil inventories in the United States increased by 4.4 million bbl during the week ending Jan. 15 amid an uptick in net imports, according to data published Friday by the Energy Information Administration (EIA). Crude inventories excluding the Strategic Petroleum Reserve increased to 486.6 million bbl for the period, about 9% above the…

January 22, 2021
Superior Energy Ready to Emerge Debt Free Following Restructuring

Superior Energy Ready to Emerge Debt Free Following Restructuring

Houston-based drilling expert Superior Energy Services is to emerge debt-free from bankruptcy after its plan of reorganization received court approval. The U.S. Bankruptcy Court for the Southern District of Texas confirmed the reorganization plan, which allows Superior to convert into equity an estimated $1.3 billion in debt. “This confirmation order marks a key milestone in…

January 22, 2021
U.S. Oil, Natural Gas Industry Warns of Economic, Environmental Fallout from Biden Freeze of Federal Leasing

U.S. Oil, Natural Gas Industry Warns of Economic, Environmental Fallout from Biden Freeze of Federal Leasing

The Biden administration has frozen awarding new oil and gas drilling permits, as well as leases on federal onshore and offshore property, for 60 days, likely heralding more permanent limits to be enacted down the road. The order mandating the freeze was signed by acting Department of the Interior (DOI) Secretary Scott de la Vega…

January 22, 2021
Gains in Natural Gas Patch Help Continue Recovery in U.S. Rig Activity

Gains in Natural Gas Patch Help Continue Recovery in U.S. Rig Activity

The U.S. rig count increased five units to 378 for the week ending Friday (Jan. 22), with gains distributed across both oil- and natural gas-focused drilling, according to the latest figures from oilfield services provider Baker Hughes Co. (BKR). The United States saw a net increase of three natural gas-directed rigs, along with two oil-directed…

January 22, 2021

Correction

In the story Bakken Midstream Mulling Ethane-Natural Gas Power Plant, the company proposing to build the Williston Basin Energy Center was misstated. Bakken Midstream Natural Gas LLC is proposing to build the plant for the Mountrail-Williams Electric Cooperative. NGI regrets the error.

January 21, 2021
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