Exclusives

Follow unconventional rig activity across the United States.

Advanced completion technology prevents excessive production of gas after breakthrough occurs.

Rice Brothers Look To Transform Industry Through Fracking Software Investment

Rice Investment Group recently closed on an investment in Cold Bore Technology, a fracking software company the brothers behind Rice Energy see electrifying the oil field. 

Nine Expands With $493 Million Magnum Oil Tools Acquisition

Analysts expect the acquisition of Magnum—the number two player in dissolvable frack plugs—to give Nine Energy Service ‘incremental exposure’ to the downhole tools market.

The digital oil field is not a technology issue; it’s a business model issue.

Deepwater International

The emerging Paleogene play in the US Gulf of Mexico continues to offer increasing encouragement for major deepwater discoveries, with Chevron confirming a significant find.

Shell's CEO Ben van Beurden says, "there is a lot more to do" in its North American deepwater sectors. 

Exploration

Blackbird Energy and Pipestone Oil have agreed to merge, forming Pipestone Energy which is set to have the single largest land position in the Montney shale play in Alberta, Canada.

Top Bakken producer Continental Resources on Oct. 29 said its output from the oil-rich North Dakota shale field hit a record during the third quarter and would increase significantly through the end of the year as it completed more wells.

Canada's MEG Energy rejected Husky Energy's offer to buy the oil and gas producer, saying the proposal undervalued the company.

IPC will acquire BlackPearl for roughly C$622.5 million and combine its assets with IPC’s existing assets in Canada as well as in France, Malaysia and the Netherlands.

Following the sale, four new joint ventures will be formed, with Beach Energy operating and having a 60% interest in each joint venture, the company said in a statement.

Production

Baker Hughes, General Electric Co's oilfield services arm, said on Oct. 30 it expected higher rig count in North American and international markets in 2019.

A consortium led by U.S.-based Talos Energy is looking to partner with Mexico’s state-run energy firm Pemex next year on a plan to jointly develop a potentially lucrative oil and gas discovery pending more drilling, Reuters reported on Oct. 9.

An analysis predicts costs to climb as core areas mature.

While the country has long been a major oil and gas producer, an extended output slump forced Mexico last year to turn to foreign supplies for 84% of its total natural gas demand, almost all of which came from the United States.

Lost in the news of record-breaking production and impressive rig counts is the increasing rate of decline in production in the Permian Basin.

Technology

This five-year agreement covers the exclusive supply of surface wellhead equipment and service in the U.S. and Canada.

A federal judge in Montana halted construction of the Keystone XL oil pipeline on Nov. 8 on the grounds that the U.S. government did not complete a full analysis of the environmental impact of the TransCanada Corp. (NYSE: TRP) project.

Gulfport Energy said Michael G. Moore stepped down as president and CEO of the Oklahoma City-based oil and gas company and will be replaced on an interim basis by COO Donnie Moore.

Pemex is set to begin crude imports in November, for the first time in over a decade. It needs them to feed Mexico’s main refinery, which is working below capacity due to a lack of light oil.

At his first meeting with foreign oil majors, Mexico's leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources said, but gave no sign of offering up new fields to reverse dwindling output.