Shale ///

Permian producer Centennial to buy Colgate for $2.5 billion

Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion.

Shale jobs won't top pre-pandemic levels until 2027

The recovery of the shale patch workforce is still years in the making despite the frothy profits that rallying crude prices are generating for U.S. oil companies and their contractors.

WBM provides clean solutions, time and money savings in head-to-head tests against NAF

Travis Vordick, Michael S. Davis

A high-performance WBM, with an innovative polymer chemistry, is exceeding operator expectations in reducing operational time and expense, compared to NAF.

U.S. oil output slips as higher costs hit drillers

Weekly U.S. crude oil production declined for the first time in three months, signaling that soaring costs across the oil fields may be preventing drillers from expanding output.

Drilling for shale oil is getting more expensive at the worst possible time

Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from steel pipe to frac sand to ease any time soon.

U.S. shale’s cash bonanza is about to wipe out $300 billion loss

It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade.

Devon launches its own mobile sand mine to cut fracing costs

Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs.

Shale giants dump oil hedges as losses spiral toward $42 billion

U.S. shale giants stung by billions of dollars in hedging losses are spending big bucks to ditch their positions in a risky bet that prices stay high.

Shale explorers Diamondback, Devon boost payouts over production

Shale drillers Diamondback Energy, Devon Energy and Coterra Energy are boosting dividends while keeping oil output flat despite pleas from President Joe Biden to increase supplies and help take some the edge off of inflation.

Drilling rig prices are spiking in the U.S. shale patch

After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig.

Three U.S. shale producers are raising output as Biden looks to tame oil prices

Continental Resources Inc., Hess Corp. and Matador Resources Co. signaled plans to raise production from U.S. shale basins, a potential harbinger of things to come as Big Oil prepares to report results later this week.

Whitecap Resources plans more gas drilling in late 2022 as prices surge

Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said.

ShaleTech: Permian Shales: $100 oil, European tensions test basin-side discipline

Jim Redden

Scott Sheffield has a forewarning for the acreage-restricted private operators helping drive record production in the Permian basin: your annual double-digit growth rates are unsustainable.

Oil’s hired hands see outlook brighten as war fractures markets

Halliburton, which controls more fracing capacity than any other company, predicted North American explorers will boost spending by 35% this year, up from a pre-war forecast of 25%.

Liberty Oilfield posts best sales in years on fracing boom

Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing.

Halliburton raises North American oil-industry spending outlook

Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast.

Permian explorers drill deep into fraclog, leaving shelves bare

Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half a decade.

Quantum Energy hires Goldman veteran Baillie as co-president

Quantum Energy Partners, one of the largest private-equity players in U.S. shale, is reloading its leadership ranks following the step back of a senior partner earlier this year.

U.S. crude output will rise at slower-than-expected pace, EIA says

U.S. crude output will grow at a more diminished pace than previously expected as shale producers grapple with higher production and labor costs amid rampant inflation.

Texas shale oil fields face worst fire risk in almost a decade

Some of the worst fire conditions in a decade are going to sweep across Texas and the southern Great Plains, threatening key shale-oil fields, slaughterhouses and farms.

Shale producers court European buyers in bid for key LNG market

From a barbecue lunch at an LNG terminal in Texas to commercial talks near Capitol Hill, American natural gas companies are making a multi-state push to woo potential European buyers.

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