Early signs point to a potential struggle within even the most productive parts of the shale patch, increasing the odds of an OPEC deal extension beyond March. But will that actually happen?
Statistics from the Aug. 16 sale show 27 companies participated and submitted 99 bids on 90 tracts. Total E&P USA submitted the highest single bid at $12.1 million.
In the horizontal San Andres play in the Permian Basin, private oil companies are kickstarting success by sharing drilling and completion data.
Fasten those seatbelts. Oil and gas has a been busier than commonly understood and the tsunami of accelerating field work in first-half 2017 will add significant crude oil production by year-end 2017.
WPX CEO Rick Muncrief discusses the differences between its San Juan and Delaware basin assets and highlights the role of the Permian, where the company has more than 120,000 net acres.
Drillers have added rigs in 56 of the past 63 weeks since the start of June 2016. The rig count is an early indicator of future output.
Drillers added seven oil rigs in the week to July 7, bringing the total count up to 763, the most since April 2015, Baker Hughes energy services company said in its closely followed report on July 7.
Drillers cut two oil rigs in the week to June 30, bringing the total rig count down to 756, still more than double the 341 rigs in the same week a year ago, energy services firm Baker Hughes Inc. (NYSE: BHI) said in its closely followed report on June 30.
Drillers added 11 oil rigs in the week to June 2, bringing the total count up to 733, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said.