U.S. Onshore ///

EIA: LNG exports expected to drive growth in U.S. natural gas trade

The United States is expected to become a net exporter of natural gas on an average annual basis by 2018, according to the recently released Annual Energy Outlook 2017 (AEO2017) Reference case. The transition to net exporter is driven by declining pipeline imports, growing pipeline exports, and increasing exports of liquefied natural gas (LNG).

API: BLM's methane and waste prevention rule hurting consumers and local economies

Colorado Petroleum Council Executive Director Tracee Bentley urged the U.S. Senate to follow the House and support a disapproval resolution on the Bureau of Land Management’s (BLM) Methane and Waste Prevention rule because the flawed rule doesn’t improve upon U.S. successes in methane emissions reductions and could negatively impact American consumers, local revenues and energy security.

Exxon bows to oil crash with historic global reserves cut

Exxon Mobil Corp. disclosed the deepest reserves cut in its modern history as prolonged routs in oil and natural gas markets erased the value of a $16-billion oil-sands investment and other North American assets.

VAM USA expands its field service operations in Permian

VAM USA announces the opening of a new VAM field service office located at 2456 IH-20 in Odessa, TX bringing the number of service locations in Texas to three.

Billionaire Sam Zell joins slew of investors in 'awesome' STACK shale play

Billionaire real-estate investor Sam Zell is joining Continental Resources Inc.’s Harold Hamm in the growing list of enthusiasts of Oklahoma’s STACK shale formation.

Gas pioneer Chesapeake embarks on oil quest to escape poor investment rating

Chesapeake Energy, the number two U.S. natural gas producer, thinks it has a one-word answer to its debt issues: oil.

Foothills Exploration brings two Duck Creek project wells into production

Foothills Exploration, Inc., an independent oil and gas E&P company engaged in the acquisition and development of properties in the Rockies and Gulf Coast, today announced that, since acquiring Tiger Energy Partners International on December 30, 2016, the Company has successfully reworked two wells in its Duck Creek project, obtaining production from the Green River formation.

Biggest U.S. drilling surge since 2012 has producers cashing in

U.S. drillers pushed ahead on the biggest surge in oil drilling since 2012 as companies take advantage of oil prices that have held steady above $50 for almost three months.

API's Colorado Petroleum Council slams misleading research on hydraulic fracturing

Colorado Petroleum Council Executive Director Tracee Bentley strongly slammed a report released today by the University Of Colorado School Of Public Health.

Occidental said to be seeking buyer for South Texas assets

Occidental Petroleum Corp. is working with Citigroup Inc. to handle the sale of about 180,000 acres of E&P assets that hug the border with Mexico in South Texas, according to people familiar with the plans.

TGS announces comprehensive well database available for the Permian basin

TGS, the leading provider of global geoscientific data products and services, today announces the immediate availability of the E&P industry's most comprehensive well database in the Permian basin.

Tight oil expected to make up most of U.S. oil production increase through 2040, EIA says

EIA’s recently released Annual Energy Outlook 2017 (AEO2017) Reference case projects that U.S. tight oil production will increase to more than 6 MMbpd in the coming decade, making up most of total U.S. oil production.

Investor honeymoon with OPEC falters as U.S. shale drilling booms

There are limits to investors’ love affair with OPEC.

Petro River Oil identifies significant reserve potential with new 3D seismic data

Petro River Oil, an independent oil and gas exploration company utilizing the latest 3D seismic technology, announced today that recently acquired and reprocessed 3D seismic data has shown positive results in three of the Company’s project areas located in California and Oklahoma.

At $60,000 an acre, Permian may be too ritzy as crude rises

Record prices for drilling rights in the Permian basin, the most fertile U.S. shale field, are prompting oil companies and private equity investors to look elsewhere for the next big gushers.

CGG delivers final pre-STM data for Hobo 3D multi-client survey in Midland basin

CGG announced today that the final processed time volumes (Orthorhombic Kirchhoff PreSTM) from its recent Hobo 3D multi-client survey in the highly prospective Midland basin are now available for license.

Dakota Access granted approval without Trump’s renegotiation

When President Donald Trump advised expediting the controversial Dakota Access oil pipeline, he said he’d negotiate the terms. But the project was greenlighted with no strings attached.

Parsley Energy announces $2.8-billion Midland basin buy

Parsley Energy, Inc., has announced that it has entered into an agreement to acquire certain undeveloped acreage and producing oil and gas properties in the core of the Midland basin from Double Eagle Energy Permian, LLC, for an aggregate purchase price of approximately $2.8 billion, subject to purchase price adjustments and customary closing conditions.

New scientific approach assesses land recovery following oil and gas drilling

A new scientific approach can now provide regional assessments of land recovery following oil and gas drilling activities, according to a new U.S. Geological Survey (USGS) study published in the journal Science of the Total Environment.

U.S. oil output heads toward 48-year high as shale surge resumes

The U.S. will pump the most crude next year since 1970 as domestic producers benefit from OPEC supply cuts.