Shale ///

PSAC announces government funding for beleaguered oil and gas services

The Petroleum Services Association of Canada (PSAC) was pleased to hear the federal government will provide a one-time payment of $30 million to the Government of Alberta to “support provincial actions that will stimulate economic activity and employment in Alberta’s resource sector.”

U.S. shale to feed European gas market battered by winter

The heart of Europe’s gas market may finally get a helping hand from the American shale revolution as fuel is poised to cross the Atlantic to replenish depleted inventories after the coldest January in seven years.

Anadarko announces multi-billion-dollar capital program

Anadarko Petroleum Corporation recently announced its 2017 initial capital program of $4.5 to $4.7 billion along with its 2017 initial capital expectations and guidance.

Pioneer Natural Resources announces sale of Texas acreage for $266 million

DALLAS -- Pioneer Natural Resources Company has announced that it has signed a purchase and sale agreement with an undisclosed buyer to sell its previously-announced acreage package in northeastern Martin County, Texas, for $266 million, subject to normal closing adjustments.

Oil price forecasts falling on shale surge, OPEC uncertainty

Analysts following the $1.8 trillion-a-year oil market are tempering bullish price outlooks after the commodity lost about 10% of its value in less than two weeks amid ominous signs the worldwide supply glut may not be shrinking.

Kalnin Ventures announces third Marcellus acquisition

Kalnin Ventures LLC has announced that it has signed a Purchase and Sale Agreement (PSA) on its third acquisition of a non-operating portfolio in the northeastern Marcellus shale play of Pennsylvania, on behalf of its investor Banpu Pcl.

Early 2017 recovery in Utica production seems realistic, Rystad says

The latest published well production data from the Ohio Department of Natural Resources (ODNR) suggests that shale gas production in Ohio contracted by 180 MMcfgd during fourth-quarter 2016, with only 58 new wells turned in line.

Oil's bad timing pressures drillers, as banks review loans

The rally in global oil prices has stalled at the worst possible time for explorers, just as banks reassess credit lines crucial to their growth.

Marathon Oil announces $700-million acquisition in Northern Delaware basin

Marathon Oil Corporation announced today the signing of a definitive agreement to acquire approximately 21,000 net surface acres largely in the Permian's Northern Delaware basin of New Mexico from Black Mountain Oil & Gas and other private sellers for $700 million in cash, excluding closing adjustments.

Oil giants upending shale turf where wildcat drillers once ruled

Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp., are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up from next to nothing only a few years ago.

Madalena Energy begins drilling Vaca Muerta shale at Coiron Amargo Sur Este

Madalena Energy Inc. has announced the commencement of the first horizontal multi-frac re-entry in the Vaca Muerta shale formation at Coiron Amargo Sur Este (CASE).

America's shale gas selling at record prices to overseas buyers

A year after Cheniere Energy Inc.’s Louisiana terminal shipped the first exports of U.S. natural gas from shale, cargoes from the facility are fetching higher prices than ever.

Oil prices seen stuck below $60 this year as high stocks persist

An historic agreement between OPEC countries and other oil producers to reduce their output won’t be enough to nudge crude prices above $60/bbl this year, according to energy lender Arab Petroleum Investment Corp.

U.S. rig count climbs by 21 following stockpile decline

The U.S. rig count increased by a total 21 rigs in the latest Baker Hughes rig count, from 768 rigs working on March 10 to 789 rigs on March 17.

Oil at $40 no problem as U.S. drillers snub OPEC with hedges

American oil explorers who survived the worst of the 2014-2016 market rout are shrugging off the 14% slide in prices this year from a high of $55.24/bbl to less than $48/bbl Tuesday.

Drilling boom in the Permian may be bad news for gas bulls

A drilling surge in America’s hottest oil play may prove to be a pitfall for natural gas bulls.

Helmerich & Payne announces changes to board of directors

Helmerich & Payne recently announced that Kevin G. Cramton and José R. Mas were appointed to the company’s board of directors effective March 1, 2017.

Highlands Natural Resources acquires additional acreage east of Denver, Colorado

Highlands Natural Resources announced that it has executed an expanded agreement with Renegade Oil & Gas Co.

Oil trader Vitol foresees`a lot more' growth in U.S. crude exports

Vitol Group BV, the trader that shipped the first cargo of U.S. crude after export restrictions ended in late 2015, predicts the country’s oil exports will grow “a lot more” because of rising production in Texas.

Up to $600 million to be invested in Permian via private equity firms

Private equity firms Pine Brook and Riverstone Holdings agreed to invest as much as $600 million in a newly created oil and natural gas explorer in Texas’s energy-rich Permian basin.