Shale ///

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.

Covey Park buys additional Haynesville assets from Chesapeake

Covey Park Energy, announced the closing of the acquisition of additional assets in the Haynesville shale area of north Louisiana from Chesapeake Exploration, and related companies for $465 million.

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.

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.

Oil slips most in three weeks as OPEC cuts face rising U.S. output

Oil declined in New York as OPEC’s supply cuts are tempered by a revival of shale drilling in the U.S.

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.

Global Tubing opens new service center near Montney shale basin

Global Tubing, LLC, the industry leader in coiled tubing products and services, announces the opening of a new service center in Grand Prairie, Alberta, Canada.

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.

Archer launches suite of plug solutions to ensure well integrity

Archer Oiltools has launched the SPARTAN plug family, to help operators deliver safer wells, boost operational efficiency and reduce costs.

Statoil reports unexpected loss on deepening U.S. writedowns

Statoil ASA reported an unexpected loss in the fourth-quarter after deepening writedowns on its U.S. shale assets.

Offshore drillers still seeking recovery enjoyed by shale

While oil drillers in U.S. shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60/bbl.

Oil trades near $54 as Iran tension offsets U.S. shale drilling boom

Oil traded near $54/bbl as increased tension between Iran and the U.S. countered expectations of rising American production.

Dakota Access pipeline seen operational in second quarter

The $3.8-billion Dakota Access crude oil pipeline won’t start up until the second quarter of this year, according to stakeholder Phillips 66.