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Shale Daily

Natural Gas Production in Lower 48 to Continue Falling from January to February, EIA Says

Natural Gas Production in Lower 48 to Continue Falling from January to February, EIA Says

Cumulative natural gas production from seven key U.S. onshore regions is set to fall by 472 MMcf/d from January to February, extending a downtrend that goes back to early 2020, according to updated projections published Tuesday by the Energy Information Administration (EIA). In its latest Drilling Productivity Report, EIA said it expects the Anadarko, Appalachian…

January 19, 2021
Bakken Midstream Mulling Ethane-Natural Gas Power Plant

Bakken Midstream Mulling Ethane-Natural Gas Power Plant

Bakken Midstream Natural Gas LLC is considering developing a dual-fuel electric cooperative power plant in North Dakota that would primarily operate on ethane, with natural gas also in the fuel mix. Mountrail-Williams Electric Cooperative is proposing to build the Williston Basin Energy Center near Williston, ND, in the heart of the Bakken Shale. The project,…

January 19, 2021
Alberta Premier Promises to Explore ‘All Legal Avenues’ if Keystone XL Canceled by Biden Administration

Alberta Premier Promises to Explore ‘All Legal Avenues’ if Keystone XL Canceled by Biden Administration

Canadian leaders are vowing to rescue TC Energy Corp.’s Keystone XL (KXL) — or sue for damages — from a plan for incoming President Biden to cancel the U.S. presidential permit for the $8 billion oil export pipeline project. KXL stands out as an 830,000 b/d growth enabler for Canada’s top natural gas user, Alberta…

January 19, 2021
Outgoing Trump Administration Warns of U.S. Economic Disaster if Fracking Banned

Outgoing Trump Administration Warns of U.S. Economic Disaster if Fracking Banned

A ban on hydraulic fracturing, a key technique used to complete unconventional oil and natural gas wells, could reverse U.S. production growth and lead the country backwards to become a net importer once again by as soon as 2025, the outgoing Trump administration warned in a report issued Thursday. The Department of Energy’s (DOE) outgoing…

January 15, 2021
North Dakota Well Completions Forecast to Climb in 2021, but Not Rig Count

North Dakota Well Completions Forecast to Climb in 2021, but Not Rig Count

North Dakota natural gas and oil production declined slightly month/month in November, but more well completions are expected this year on “significantly better” oil prices. Department of Mineral Resources director Lynn Helms noted that recent Bakken Shale sweet crude was trading at around $43.50/bbl, which should spur more well completions, but not high enough to…

January 15, 2021
Permian Posts Double-Digit Rig Increase, Spurring U.S. Count Higher

Permian Posts Double-Digit Rig Increase, Spurring U.S. Count Higher

A surge in oil-directed drilling led by the Permian Basin sent the U.S. rig count 13 units higher to 373 for the week ending Friday (Jan. 15), according to data published by Baker Hughes Co. (BKR). The latest BKR numbers, which are based on data provided in part by Enverus, showed an increase of 12…

January 15, 2021
Ovintiv Facing Investor Ire to Improve Performance or Potential Board Upheaval

Ovintiv Facing Investor Ire to Improve Performance or Potential Board Upheaval

Denver-based Ovintiv Inc., whose onshore oil and gas portfolio stretches from Canada to Texas, could face a board shakeup if performance does not improve, shareholder Kimmeridge Energy Management Co. LLC warned on Thursday. The private equity, which has a 2.4% stake in the exploration and production (E&P) company, has launched a website and sent a…

January 15, 2021
Permian-Fueled Revenue Lifts Texas Oil, Natural Gas Royalties Near $14B

Permian-Fueled Revenue Lifts Texas Oil, Natural Gas Royalties Near $14B

Lifted by revenue pulled from the Permian Basin in West Texas, the state’s oil and natural gas industry paid $13.9 billion in taxes and royalties in fiscal 2020, or around $38 million/day,  according to a top industry group. Data compiled by the Texas Oil & Gas Association (TXOGA) indicated state energy industry taxes and royalties…

January 14, 2021
E&P Spending Revival Poised for North America, Overseas

E&P Spending Revival Poised for North America, Overseas

Global exploration operators are ready to get back to business in oil and natural gas onshore and offshore, with the international players likely to shell out more funds this year than their Lower 48 compadres. Energy analysts in recent weeks have begun offering their takes on the likely pace of activity and potential capital expenditures…

January 14, 2021
Summit’s Permian Natural Gas Conduit Gets FERC OK to Start Construction

Summit’s Permian Natural Gas Conduit Gets FERC OK to Start Construction

Federal regulators have approved the start of construction on all but a small portion of Summit Midstream Partners LP’s 135-mile Double E natural gas pipeline that would connect Permian Basin supplies to the Gulf Coast. Summit CEO Heath Deneke touted the “efficiency with which this project has achieved its key milestones” and confirmed the pipeline’s…

January 14, 2021
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