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The investment ramp-up could bring about cost inflation that might challenge smaller E&Ps and eventually make way for Permian consolidation, IHS says.
The possibly record-setting Delaware Basin wells follow the 11,000-plus-boe/d wells Devon reported in early May. And, they’re child wells.
Stratas Advisors predicts growth for North American shale plays including expectations for ‘bigger and badder’ wells becoming the norm this year.
The company is seeing the benefits of optimized landing points and completion density.
New technology, reservoir knowledge and a willingness to take risks remain key for operators in the Permian’s Midland Basin and Central Basin Platform.
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.
At DUG Executive, Apache Corp. CEO John Christmann told top leaders from the oil and gas industry that his company’s focus is on the Permian Basin and for good reason.
Angus Energy agreed to acquire a 25% interest in Cuadrilla's U.K. license for onshore oil exploration at the Balcombe Field discovery in West Sussex as part of a new joint venture agreement.
U.S. shale production is expected to rise by about 145,000 barrels per day (bbl/d) to a record 7.18 million barrels per day (MMbbl/d) in June, the U.S. Energy Information Administration (EIA) said on May 14.
Enhanced completions fuel basin’s steady production.
Investment and development activity picked up speed in 2017.
ConocoPhillips adds Alaskan acreage while seeing global production growth.
Sonatrach and its foreign partners started production from several gas projects during the last few months.
An injunction hearing will be held on May 31 at Manchester’s High Court District Registry. The injunction would replace and extend an existing injunction at the site and surrounding farmland.
The British government said it would introduce measures to streamline and improve the regulatory process for shale gas planning applications so decisions are made more quickly.
The U.S. oil and gas producers' first-quarter results benefited from higher oil prices as well as growing production from shale plays in the Permian Basin and Bakken.
Noble, which drills oil wells in the D-J Basin as well as the Permian and Eagle Ford, said it expects second-quarter sales volume at between 340,000 boe/d and 350,000 boe/d.
Eight capital analyst Phil Skolnick said he did not see Encana's production miss "as a negative" as production in the larger Permian Basin was up.