U.S. Onshore ///

EIA: U.S. crude production expected to reach record high in 2018

In EIA’s latest Short-Term Energy Outlook (STEO), total U.S. crude oil production is forecast to average 9.3 MMbpd in 2017, up 0.5 MMbpd from 2016. In 2018, EIA expects crude oil production to reach an average of 9.9 MMbpd, which would surpass the previous record of 9.6 MMbpd set in 1970.

Wood Mac: Shale sector to be cash flow positive by 2020

The tight oil sector has struggled to generate positive cash flow since 2010. Last year, only one company in the sector posted positive cash flow. But there is light at the end of the tunnel.

Encana closes sale of its Piceance natural gas assets in Colorado

Encana Corporation announced today that its wholly-owned subsidiary, Encana Oil & Gas, Inc., has completed the previously announced sale of its Piceance natural gas assets, located in northwestern Colorado, to Denver-based Caerus Oil and Gas LLC (Caerus).

Permian operators’ lofty production targets supported by strong hedging, IHS Markit says

Oil-weighted exploration and production (E&P) companies operating in the prolific Permian basin have 65% of their oil production hedged at an average strike price of approximately $50/bbl. This supports their aggressive production targets for 2017, according to new analysis from IHS Markit.

QEP Resources turns to Permian, sells Wyoming assets for $740 million

QEP Resources Inc. said it would sell its natural gas assets in Wyoming to privately held Pinedale Energy Partners LLC for about $740 million, as the U.S. oil and gas producer focuses on liquids-rich, higher-margin assets.

While oil patch bleeds, gas drillers race to unleash wells

Oil prices have been lousy for so long that U.S. producers are hoarding unfinished wells rather than pumping crude out of them. In the natural gas patch, just the opposite is happening.

Shale boom may finally have succumbed to oil's price slump

Oil’s bear market may finally be taking its toll on the shale boom.

Falcon Seaboard launches $145-million Permian investment fund

Falcon Seaboard Resources, LLC, has announced the launch of the $145-million Falcon Seaboard Permian Fund I, LP. The fund is the first time David Dewhurst, the CEO and chairman of Falcon Seaboard Diversified, Inc., and former Lieutenant Governor of Texas, has accepted outside investments.

After biggest gas leak in U.S. history, Aliso Canyon field set to reopen

Almost two years after the biggest gas leak in U.S. history sprung from a Sempra Energy natural gas storage field in Southern California, the state is ready for the complex to reopen.

U.S. owns 700 MMbbl of oil and Trump wants to sell it

The U.S. government began stockpiling oil July 21, 1977. It started with just 412,000 bbl of Saudi Arabian light crude stashed in a Southeast Texas salt dome.

2016 SPE President Nathan Meehan to keynote ShaleTech Permian conference

Former SPE President Nathan Meehan (2016), President of Gaffney, Cline & Associates, will deliver the keynote address at World Oil’s inaugural ShaleTechTM Permian conference in October.

Keystone Test Facility enhances efficiencies, reliability with new testing resource

Keystone Test Facility (KTF) brings a new testing resource to the drilling industry with some very useful and innovative features that will enable test engineers a broader range of opportunities.

U.S. crude exports are set to increase

A growing surplus of light crude oil is setting the stage for exports to take off as new pipeline capacity takes Permian crude to the Gulf Coast.

Magnitude 4.2 earthquake strikes near Cushing oil storage hub

An earthquake with a preliminary magnitude of 4.2 on Friday struck Stroud, Okla., about 20 mi (32.2 km) from the key oil storage hub in Cushing, Okla., the Oklahoma Geological Survey (OGS) said.

Collecting cash from shale without spending on drilling

Bob Ravnaas raised a paddle in a Houston auction house to secure his first block of mineral rights 19 years ago, when oil prices were about $20/bbl.

Halcón shifts focus to Permian with $1.4-billion Bakken sale

Shale oil producer Halcón Resources Corp. said it would sell most of its North Dakota operations for $1.4 billion cash, part of a plan to shift its focus to Texas' Permian basin, the largest U.S. oilfield.

Devon Energy reports record STACK well, reaching 6,000 boed

Devon Energy Corp. has announced that it has brought online a record-setting Meramec well and commenced production on several high-rate wells in the core of the over-pressured oil window of the STACK play during the second quarter of 2017.

Increasing the odds of successful refracturing

Matthew Miller, Packers Plus Energy Services

Combining an in-depth field analysis with mechanical isolation and a targeted stimulation treatment will greatly enhance the success of a refracturing program.

Jeff Miller shares his vision for Halliburton’s future

In an exclusive interview at the company’s headquarters in north Houston, Halliburton President Jeff Miller, newly named as CEO, visited with Gulf Publishing Vice President Ron Higgins and Editor-in-Chief Kurt Abraham, to outline his thoughts and priorities for the firm’s next few years.

What's New in Exploration

William (Bill) Head, Contributing Editor

These days, it’s popular to predict doom and gloom, then say it isn’t so. Gloom means way lower than $45 oil.