Unconventional Exclusives

Upstream M&A Activity Surges By 250% In Record Quarter

BP’s $10.5 billion acquisition of a portion of BHP’s U.S. onshore portfolio highlighted M&A activity in the U.S. during the third quarter, a report by Drillinginfo says.

Permian, RBN Energy, PermiCon, Stephanie Reed, Parsley Energy, Kevin Lafferty, Devon Energy, Dan Westcott, DUCs, takeaway capacity, decline curves, well interference, shale

Decline curves, well interference, takeaway capacity and drilled but uncompleted wells were among the topics discussed by a group of panelists.

As operators continue to bring the Eagle Ford back to peak production, they refocus their attention to the north.

Eagle Ford Activity Highlights: September 2018

Larry Prado, Hart Energy’s activity editor, summarizes recent action in the Eagle Ford Shale in South Texas including Eagleville Field well results by EOG and Abraxas.

With a premium position in what it believes to be the sweetest of the Eagle Ford’s sweet spots, ConocoPhillips has found the winning combination with science, experimentation and optimal well placement.

Unconventional Exploration

French energy group Total is not looking at investing in the U.S. shale oil industry, says the company's CEO, Patrick Pouyanne.

stratas_global_upstream_summary_july

Looking back at July activity, several new oil and gas discoveries were made across the globe and many have significant impact on the worldwide oil and gas outlook.

Qatar Petroleum (QP) signed an agreement on June 3 with Exxon Mobil Corp. (NYSE: XOM) to acquire a 30% stake in two of ExxonMobil's affiliates in Argentina.

BHP reiterated it expected bids for its U.S. shale assets by June and added that transactions could be announced in the first half of the 2019 financial year.

ExxonMobil Corp. has resumed production at the Papua New Guinea LNG project two weeks ahead of schedule after it was shut down in the wake of a deadly earthquake in February, its Australian partners said on April 13.

Unconventional Production

More than half the total U.S. oil rigs are in the Permian, the country's biggest shale oil formation. Active units there declined by two this week to 486, the Baker Hughes report said.

The new Gen6 frack sand mine will be located in the core of the Haynesville and help provide area producers “significant time and cost savings on transport and logistics.”

Appalachia gas production continues its record-breaking climb.

‘Onshore drilling just has better economics currently [and] cycle times also play a key role in offshore projects versus onshore drilling,’ said Sarp Ozkan, DrillingInfo’s director of energy analysis.

China’s increased appetite for energy helped Australian LNG revenue grow 38% over the last year, according a recent report.

Unconventional Technology

September 21, 2018

Booming production in west Texas’ Permian Basin, the biggest U.S. oil field, has overwhelmed existing pipelines to Gulf Coast export markets, driving oil prices to as much as $18 below those at the coast this year.

Permian, Delaware, Rystad Energy, shale, new well, production, drilling, completion, cost, lateral, fluid, proppant, Concho, Cimarex, Chevron, EOG, Exxon
September 17, 2018

Some operators are faring better than others when it comes to new production per well and overall breakevens among other benchmarks in the Permian Delaware.

Colorado Initiative To Ban Drilling Costing Producers Billions
September 14, 2018

Colorado voters will decide on Nov. 6 whether to extend the state’s oil and gas setback requirement by approving Proposition 112, which an analyst described as ‘a widow-maker for the D-J Basin.’

September 4, 2018

Senior technology leaders at URTeC 2018 discussed how to get improved results in unconventional reservoirs and automation’s effect on the workplace.

August 31, 2018

The slowdown comes as oil prices in West Texas, home of the oil-rich Permian Basin, have fallen to near four-year lows as production outpaces takeaway capacity.