Bakken Summary
The North Dakota area of the Bakken LTO basin has accessible data from the ND Department of Natural Resources, Oil and Gas Division. Production here seems to be past peak Continue Reading
U.S., Canadian Rig Count Rise
The number of oil and gas rigs in the United States rose by 3 this week, according to Baker Hughes —after falling by 3 last week. a The total rig Continue Reading
Devon and Conoco Study $10B Shell Permian Assets
Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, people familiar with the matter said. (Bloomberg) — Devon Energy Continue Reading
Shale Drillers Leave $12B on Table
Shale explorers are facing almost $12 billion in losses this year from bad bets on oil after a global rally, according to BloombergNEF. (Bloomberg) — Shale explorers are facing almost Continue Reading
DUC Well Inventory Plunges As Drillers Frack More Than They Drill
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in Continue Reading
Merger Mania Paves The Way For A New Era In U.S. Shale
Mergers and acquisitions are how an industry normally handles tough times. Asset prices drop, some companies can no longer survive on their own and become targets for those with the Continue Reading
Shale Giants Hit Hard By Poor Hedging Decisions
The lack of growth in shale production, currently inching higher but primarily from DUC- Drilled but Uncompleted wells, has been largely attributed to capital discipline. Shale companies have spoken almost Continue Reading
New Mexico Breaks Oil Production Record
New Mexico broke an oil production record in May, pumping an average 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports , citing government Continue Reading
New Mexico Oil Output Signals Modest Shale Recovery
New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic. (Bloomberg) — New Mexico’s oil Continue Reading
New Mexico Posts Oil-Output Record as Permian Basin Bounces Back
New Mexico’s oil production surged to a record in May, lifting output to the second-highest in the nation and highlighting the Permian Basin’s role in leading the shale industry’s rebound Continue Reading