Unconventional Exclusives

Permian Basin Operators Look to Standardize Techniques, Measures

A Permian standard is emerging after experimentation during a decade of drilling the basin’s multiple unconventional shales has found diminishing returns, says CEO of reserve evaluation firm Haas Engineering.

The Anadarko Basin’s Simpson shale formation is being called “one of the biggest yet-to-be-developed shale plays in the United States.”

Williston Basin activity has rebounded from the 2014 market crash and production rates are climbing higher.

QEP Resources Receives $2 Billion Takeover Offer From Elliott Management

Activist investor Elliott Management offered to buy oil and gas producer QEP Resources in an all-cash deal valued at $2.07 billion, saying that the company is "deeply undervalued."

Year Of Consolidation Highlights 2018 Oil And Gas Deal Making

Overall, 2018 was the Year of Consolidation as several E&Ps agreed to merge throughout the U.S., including inside and outside the prolific Permian Basin.

Unconventional Exploration

casillas_lawson_dug_midcontinent_scoop

Two years after entering Oklahoma’s Scoop, both Gulfport Energy and Casillas Petroleum said they are seeing returns from highly-economic wells.

Following the closing the GoM JV with Petrobras, Murphy Oil also raised its full-year capex outlook and expects to use some of the cash flow to accelerate activity in the Eagle Ford.

Familiar trends will continue to resonate in the new year as Shale 2.0 becomes another year older.

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.

Unconventional Production

PetroChina’s shale gas output compared to about 6 Bcm pumped by Sinopec Corp. last year.

Hess anticipates the completions design will help grow its Bakken production to about 200,000 barrels of oil equivalent per day by 2021.

Spain’s Repsol SA expects to raise production in the Marcellus natural gas shale field by about 50% by year-end 2020 due to efficiency gains, an executive said at an industry conference in New York on Dec. 6.

A little of this mixed with a little of that creates a stronger future.

Laramie and Weld counties are seeing increasing permitting activity.

Unconventional Technology

January 8, 2019

Oil and gas producer Occidental Petroleum expects to spend $4.4 billion to $5.3 billion this year, depending on the price of crude oil with the highest scenario using $60 WTI.

January 7, 2019

Alta Mesa Resources named John C. Regan, a former executive of Vine Oil and Gas LP and Quicksilver Resources Inc., as the pure-play Stack company’s next CFO.

January 4, 2019

Concho Resources, which announced a slew of leadership changes on Jan. 3, promoted Brenda Schroer to CFO and Will Giraud as COO following the retirement of Joe Wright.

January 4, 2019

Taliban fighters are threatening major oil wells near the northern Afghan city of Sar-e Pul following days of fighting in which dozens of members of the security forces have been killed and wounded, officials and residents said on Jan 4.

December 27, 2018

Incoming New Mexico governor and state land commissioner plan to limit new leasing on state lands where oil and gas drillers planned to tap freshwater aquifers.