Oil Price Downturn Prompts Update of Rig Guide
ABS to provide clarification to industry through an update of its rig layup and reactivation guide. With drilling activity down due to low oil prices, a number of offshore drilling Continue Reading
Oklahoma’s economy pressured, but holding steady
The economic outlook for the state of Oklahoma is negative as the revenue stream ebbs as a result of lower oil prices, Moody’s Investors Service says. Moody’s said Oklahoma’s credit Continue Reading
North Dakota down over 70,000 bpd in April
The Bakken and North Dakota production data is out. Big surprise. The Bakken was down 69,420 barrels per day in April while all North Dakota was down 70,414 bpd. Largest Continue Reading
North Dakota oil output posts biggest drop in history
North Dakota’s oil output fell the most in history in April, with low crude prices CLc1 and inclement weather forcing producers to cut back the drilling and fracking of new Continue Reading
U.S. shale oil output to dip for seventh consecutive month: EIA
U.S. shale oil output is expected to fall in July for the seventh consecutive month, according to a U.S. government forecast on Monday, despite a recent rally in crude prices Continue Reading
Rigs returning to service in North Dakota
With a gain of three, the number of rigs actively exploring for or producing oil and natural gas in North Dakota is up 12 percent from last week, data show. Continue Reading
Drilling Productivity Report
New-well oil production per rig barrels/day New-well gas production per rig thousand cubic feet/day Region June 2016 July 2016 change June 2016 July 2016 change Bakken 832 850 18 1,114 Continue Reading
Natural gas flaring in North Dakota has declined sharply since 2014
The volume of North Dakota’s natural gas production that is flared has fallen sharply in both absolute and percentage terms since 2014. In March 2016, 10% of North Dakota’s total Continue Reading
Rising Oil Prices Encourage Shale Producers, Dissuade Investors
The oil market just hit a yellow light. Crude’s more than 90 percent from a 12-year low earlier this year has U.S. shale producers starting to return to their drilling Continue Reading
Appetite for destruction? Energy investors swap debt for equity
Cash-strapped U.S. oil and gas companies, including No. 2 natural gas producer Chesapeake Energy Corp, are expected to cut their debt piles this year as a long-awaited rise in the Continue Reading