Shale ///

Permian basin seen growing to largest oil patch in the world

The Permian shale play is all about setting records. Now, the region will probably become the world’s largest oil patch over the next decade.

EIA: Pennsylvania’s natural gas production continues to increase

Pennsylvania’s marketed natural gas production averaged a record 15 Bcfd in 2017, 3% higher than the 2016 level. This production is largely from shale plays in the Appalachian basin. Pennsylvania accounted for 19% of total U.S. marketed natural gas production in 2017 and produced more natural gas than any other state except Texas.

BNK Petroleum reports its best 30-day IP rate of 630 boed in Oklahoma's SCOOP

BNK Petroleum Inc. has announced that the Glenn 16-2H well (100% working interest) averaged over 630 boed, of which 540 bbl are oil, for the last 30 days. The production from the well, which is located in BNK’s Tishomingo field, in the SCOOP region of Oklahoma, is currently producing over 620 boed, of which 515 bbl are oil (85%).

Becoming a "Permian-bitcoin billionaire" may be just a dream

Could turning flared gas in Texas’s Permian basin into electricity to power bitcoin mining be a solution for shale producers?

California Resources acquires Chevron's remaining interests in Elk Hills field

California Resources Corporation has announced that it has executed and closed a purchase and sale agreement with Chevron to acquire the remaining working, surface and mineral interests in the 47,000-acre Elk Hills field in the San Joaquin basin of California.

TGS expands its onshore seismic activity with third project in the Anadarko basin

TGS further expands its 2018 onshore seismic activity with the announcement of the Gloss Mountain 3D seismic survey. Gloss Mountain is a significant addition to our industry leading geoscience data position in the SCOOP/STACK area of the Anadarko basin.

Rystad Energy: China’s promise to cut tariffs, open economy allows U.S. producers to breathe easier

During his speech Tuesday at the Boao Forum, Chinese President Xi Jinping gave reassuring words to help calm tariff tensions with the U.S. Xi’s commitment to cut tariffs and open the economy could be a first step in drawing more interest from foreign investment.

Investing in predictive analytics derives true value

Philippe Herve, Spark Cognition

As the oil and gas (O&G) industry emerges from the recent downtown, executives are looking for innovative ways to promote growth.

Digitization and data analytics will impact upstream operations favorably

Jay Stieneker, North Highland

On June 13, 2014, the cost of a barrel of West Texas Intermediate stood at $107.49. That year, budgeted, worldwide capital expenditures in the oil and gas industry would approach a record $520 billion. The future looked bright.

Shaletech: Permian Basin

Jim Redden, Contributing Editor

Soaring drilling, production block out irritants

What will it take to keep up with shale gas boom? $170 billion

Bottlenecks on the U.S. natural gas super highway are starting to stack up, raising concerns about whether infrastructure can be built fast enough to meet surging supplies.

Ulterra introduces PDC bit design that evacuates cuttings 200% faster

Ulterra Drilling Technologies has introduced its latest advancement in PDC bit engineering. The patent-pending SplitBlade breakthrough design improves cuttings evacuation as much as 200% faster than conventional PDC bits.

U.S. oil debt eases as drillers target next shale play

U.S. oil and gas producers expect their borrowing ability to increase over the next few months, leaving them open to invest in new shale assets, particularly the Eagle Ford in Texas.

EIA: U.S. oil production growth projected to be led by light, sweet crude oil

Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 or higher and sulfur content of 0.3% or less. These light, sweet crudes, which are produced from tight resource formations, accounted for up nearly 90% of the 3.1-MMbpd growth in production from 2010 to 2017.

Energy lenders may loosen credit spigots after oil's rally

No question, oil above $60/bbl is a big help to North American energy companies. But even with prices up about 20% from a year ago, not everyone will get big boosts in their credit lines during the appraisal season that’s now kicking into high gear.

Drillers boost rig activity again as crude production soars

Shale drillers boosted drilling activity in the U.S. oil patch to the highest in three years even as American crude output touched unprecedented levels.

Echo Energy announces rig mobilization for workover campaign in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, is pleased to announce the mobilization of the rig for a three well workover campaign at the Company's Fracción D asset, onshore Argentina.

EIA: U.S. production grew 5% in 2017, likely leading to record 2018 output

Annual average U.S. crude oil production reached 9.3 MMbpd in 2017, an increase of 464,000 bpd from 2016 levels after declining by 551,000 bpd in 2016. In November 2017, monthly U.S. crude oil production reached 10.07 MMbpd, the highest monthly level of crude oil production in U.S. history.

ConocoPhillips provides update on disposition program, acreage additions

ConocoPhillips has provided several updates on disposition activity and early life-cycle acreage acquisition activities.

Liberty Lift Solutions introduces customer portal

Liberty Lift Solutions, LLC, has introduced a new electronic portal allowing customers to track well expenditures for installation, service and inspection on their artificial lift equipment.