Eclipse Resource’s CEO notes that since the company began operated drilling in 2013, it has increased lateral lengths by 33%, while well costs have been lowered by 23%.
Multiple political and military trends, along with the rise in U.S. crude oil and natural gas production, are occurring at the same time. And that makes for an uneasy situation, Tom Petrie says.
The partnership could serve as a launching point for continued growth in the region, analyst says.
New Standard’s drilling and operating program in the Eagle Ford has been overseen by its majority shareholder, Magnum Hunter Resources Corp.
Only a portion of the Utica and Marcellus pipeline was up for sale, but a premium bid worth hundreds of millions changed CEO Gary Evans’ thinking.
Freeport-McMoran Oil & Gas Inc. controls millions of acres in Texas, California, Louisiana and Africa, but low oil prices have stifled investment and will hurt growth.
Logistical headaches created by road closures, safety precautions and the general difficulty operating in inclement weather hold the potential to buffet production volumes in the D-J Basin.
Data from the EIA’s latest drilling production report projected about 16 MMcf/d will be produced in the Marcellus alone in July, up from about 15 MMcf/d in July 2014.