The recent pullback in oilfield service stocks comes as some shale producers warned production in the Permian Basin may slow due to a lack of pipeline space to move the crude to market.
The assessment put the region among the top five largest continuous resources for oil and gas in the U.S.
Active rigs in the Permian declined by two this week to 473—their lowest level in five weeks—as pipelines out of the reach are expected to force smaller producers to slow or shut-in production
The U.S. Supreme Court's 7-2 decision overturned a lower court's ruling and reduced by $93.4 million the damages sum that rival ION Geophysical had to pay for infringing Schlumberger technology.
Larry Prado, Hart Energy’s activity editor, summarizes recent action in Appalachia shale plays including a Marcellus completion with the longest lateral to date, according to EQT.
Investments from the new fund are expected to focus on disruptive technologies that reflect the company’s commitment to lower emissions from oil and gas.
"Investor sentiment in the last year has really, markedly changed. I'd say it's gone from, 'drill, baby, drill,' to 'show me the money,'" says Hess CEO John Hess speaking at the OPEC International Seminar.
Pioneer's Scott Sheffield said this week that overall Permian output could flatten in the 12-month period ending September 2019, when proposed pipelines are completed.
Jalapeño Corp. retained EnergyNet as its exclusive adviser to market their interest within the Permian Basin located in Eddy and Lea counties, N.M.
Crude inventories fell by 5.9 million barrels in the week to June 15, the largest one-week decline since January, the Energy Information Administration said June 20.