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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."
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.
After oil market dropped 30% from October, the market jumped 5% with OPEC’s decision to cut oil production by 1.2 million barrels per day.
Shale logistics teams prepare for increased pace in 2019.
Timothy Cutt, who most recently served as CEO of Cobalt International Energy, will join QEP Resources to serve as president and CEO of the pure-play Permian Basin company.
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.
By the end of 2018, Energent expects over seven million tons of premium frack sand to be mined inside the Permian Basin every quarter.
Proppant tracking, flowback prevention and nanoparticles are among the areas of focus, according to a study released by Deloitte.
Recent trends and new technology indicate operators and service companies are thinking outside of the box and experimenting with different methods and techniques to grow production.
The JV was formed by H2O Midstream and Layne Water Midstream to develop and operate water infrastructure on the University Lands acreage across the Southern Delaware Basin.
Pemex said it expected the contract in the Olmos Field, located in the northern border state of Coahuila, to yield investment of $617 million, aiming to reach daily production of about 117 million cubic feet of gas by 2021.
TGS continues to strengthen its onshore position with new seismic projects in key shale basins of North America, such as the Permian Basin, Scoop/Stack and the Montney.
A purchase and sale agreement relating to each block must be submitted to Ecopetrol by Dec. 7 and executed by Dec. 22, Reuters reported.
The contract is BP’s first shale gas PSC in China and covers an area of about 1,500 sq km, BP said. CNPC will be operator.
Machine learning neural networks can be an alternative to traditional decline curve analysis techniques, analysts say.
A little of this mixed with a little of that creates a stronger future.
SGS and Baker Hughes, a GE company (NYSE: BHGE), on July 10 announced a Strategic Alliance Agreement (SAA) for the joint deployment and commercialization of BHGE’s real-time software and sensor-based Predictive Corrosion Management (PCM) solution.
With the huge number of wells required for shale gas or coal-bed methane development, companies are implementing lean manufacturing models for these “gas factories.”
Vorpal's Drill2Frac helps optimize fracturing operations through the optimal placement of perforation clusters. Enventure’s expandable ESeal Refrac Liner provides mechanical zonal isolation of existing perforations.
Where ACTIVATE has been used, operators see about an 80% increase in EUR per well and a 66% reduction in cost per barrel of oil equivalent from refracked wells verus new wells, Halliburton said in a news release.
Etienne Roux, vice president of drilling services, said Revolution has drilled 284 vertical-curve lateral wells in a single run in the last year and half. This totals 2.4 million feet.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
Data integration and analysis over a shale play provides clear indications of where to drill and what technologies to utilize.
Drillers added five oil rigs in the week to April 21, bringing the total count up to 688, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 21.
There are signs the bottom is at hand, which is the first step in recovery.
Freshwater, not typical slurry, will run through pumps, significantly reducing need for replacement parts and number of pumps needed on frack job, Energy Recovery CEO Joel Gay said.
Shale producers can save 30% of the drilling cost with walking rigs, which can move from one wellbore to another--10 meters in less than an hour, Reuters said.
The rise in the rig count this week was the biggest increase since April 2014. It was, however, only the third addition over the past 33 weeks, bringing the total rig count up to 659, the highest since late May.
EOG Resources anticipates a $132.1 million non-cash gain from oil and gas hedging contracts in the fourth quarter, according to a recent SEC filing by the shale producer.
Appalachia shale gas producer EQT, forecast 2019 capex in the range of $1.9 billion to $2 billion, which was lower than its forecast for the previous year. Story updated at 4:06 p.m. CST Jan. 22.
Chesapeake Energy also revealed that output growth from the Powder River Basin and Eagle Ford Shale has made up for the sale of its Utica assets.
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.
Shale producer Centennial Resource Development joined rivals Diamondback Energy and Parsley Energy in canceling drilling rig additions next year.
Paul D. McKinney succeeds William M. Griffin, who took over as SandRidge Energy’s president and CEO last year after James Bennett was ousted in a victory for activist investor Carl Icahn.
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.
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.
James Hackett has been named interim CEO at Alta Mesa and the leadership team of private equity portfolio advisory firm Meridian Energy will fill out the remaining C-Suite positions.
Charles J. Rimer will join Whiting Petroleum to serve as its COO after working with Noble Energy since 2002, most recently as the company’s senior vice president of global services.
The lawsuit is the latest effort by environmental activists to tighten drilling regulations in Colorado, which is the fifth largest oil-producing state in the U.S.
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.
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.
Colorado voters on Nov. 6 rejected a measure, known as Proposition 112, a move opponents said would have sharply limited new oil and gas wells in the fifth-largest oil producing state in the nation.
Anadarko Petroleum could shift focus to properties in the Delaware Basin if Colorado voters pass the Proposition 112 oil drilling rules, executives said during a third-quarter earnings call.