Exploration & Production

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Drilling Marble Falls

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Tue, 05/26/2015 - 07:59

Craig Adams, president and CEO of Newark E&P Operating LLC, said the company will pick its best economic locations and drill 30 or 40 wells this year in the tight-oil siltstone Marble Falls play. Multiple fractures in the very brittle rock can be connected to create "a very commercial-sized reservoir." The company is drilling vertically, and plans to keep drilling costs between $750 million and $800 million.

Rig Count

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Oilfield Service Deals Stagnate For Want Of Buyers

Potential buyers have had to cut employees, and so far few companies are going out of their way to aggressively buy frack fleets or other equipment.

Wed, 05/20/2015 - 09:58
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EnerVest CEO: $30 WTI Not Out Of The Question

Oil exports are needed, but improbable, as U.S. oil supply builds. Near the end of March, storage at Cushing, Okla., had grown to 58.9 million barrels, about 80% of capacity.

Wed, 04/08/2015 - 16:22
Non-free

Cushing Storage Capacity Is Being Tested

U.S. crude oil in storage grew by 8.4 million barrels—twice as much as commodity analysts expected—to 1.125 billion barrels for the week ending Feb. 20, according to the EIA’s weekly report Wednesday. Of that, 434 million was in non-SPR storage, up from 363 million a year ago.

Tue, 03/03/2015 - 10:27
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Sanchez, Halcón Latest E&Ps To Tamp Down Capex

Halcón’s budget will fall 60% from 2014 levels while Sanchez reduces rigs.

Fri, 01/09/2015 - 11:27