Shale ///

Shale boom shows resilience as rigs rebound with oil under $60

For the first time in almost seven months, America’s shale drillers put rigs in oil fields back to work, and they’re doing it at a lower price.

Drillers boost U.S. oil rigs for first time in 30 weeks

Drillers put rigs in U.S. oil fields back to work for the first time since December, driving down crude futures on speculation that an unprecedented retreat from the country’s prolific shale formations is ending.

Hess completes Bakken midstream sale, establishes joint venture

Hess has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for a cash consideration of $2.675 billion, the company announced Wednesday.

Shale drillers lose most-precious asset—the $90 hedge

The insurance protecting shale drillers against plummeting prices has become so crucial that for one company, SandRidge Energy Inc., payments from the hedges accounted for a stunning 64% of first-quarter revenue.

Cuadrilla drilling rejected in blow to UK fracing industry

Cuadrilla Resources Ltd., the driller whose fracing ambitions have sparked protests, was refused permission to drill in northwest England in the latest blow to the UK’s nascent shale-gas industry.

U.S. rig count rises as oil-directed rigs drop for 29th week: Baker Hughes

The U.S. rig count has ended a 28-week slide with Baker Hughes reporting the first addition of rigs since Dec. 5.

WPX Energy to increase Williston basin activity

WPX Energy plans to increase its activity in the Williston basin during the second half of 2015 by resuming completions and increasing its rig count from one to three before year-end.

Still an Adolescent, Permian’s Wolfcamp Delaware offers promising adulthood as E&P operators expand development, IHS says

Located in the western portion of the Permian basin that straddles the Texas-New Mexico border, the Wolfcamp Delaware is an emerging hydrocarbon play that, according to new analysis from IHS has the economic potential to sustain select operators through this period of distressed oil prices. However, like most adolescents, it is a story of promise, potential and testing limits.

New federal fracing rules delayed by U.S. judge in Wyoming

New U.S. fracing safety rules set to take effect Wednesday were put on hold by a Wyoming federal judge who said he needed more evidence to decide whether to block them as requested by drillers and four western states.

Vertechs launches HydroGRS casing guiding tool

Vertechs Oil & Gas Technology has launched the “HydroGRS Casing Guiding Tool” which is designed to assist in getting the casing successfully to bottom in difficult environments resulting in time and cost savings.

Brent forward curve is too low, Rystad says

The global oil market is tightening slowly from a peak supply and demand imbalance in second-quarter 2015, according to Rystad Energy’s latest research. The June Global Oil Market Trends Report sees insufficient oil demand growth to prevent further counter-seasonal stock building in the third and fourth quarters.

Frontier fracing showdown pits Feds against Western boom states

High noon for the Obama administration’s stricter rules for fracing on public lands has arrived on the Wyoming range.

Speculators retreat from oil as OPEC oversupply crowds out shale

Hedge funds reduced both bullish and bearish bets on oil for a fourth week as rising OPEC output was met with forecasts for a contraction in U.S. supply.

Williams spurns $48 bn bid from Energy Transfer

Williams Cos. has rejected a $48 billion stock- based takeover offer from pipeline magnate Kelcy Warren;s Energy Transfer Equity that aims to derail a consolidation of the North American natural gas and oil hauler.

GulfSlope Energy awarded two offshore Gulf of Mexico lease blocks

GulfSlope Energy has received notice of award of two offshore lease blocks for which it was the high bidder at offshore lease sale 235, central Gulf of Mexico, conducted by the Bureau of Ocean Energy Management (BOEM).

U.S. rig count falls for 28th straight week: Baker Hughes

The U.S. rig count dropped for the 28th straight week Friday, according to the latest data from Baker Hughes.

Twin Eagle acquires Eagle Ford crude pipeline

Twin Eagle Resource Management, LLC announced Thursday the acquisition of a 100% interest in StarMex Big Wells, LLC, a 42-mile crude oil gathering system pipeline in the Eagle Ford shale region that connects to the major long-haul pipelines in the Gardendale area. StarMex Big Wells will be renamed Twin Eagle Gardendale Pipeline, LLC.

Next threat to U.S. shale: Interest expense on $235 billion debt

The debt that fueled the U.S. shale boom now threatens to be its undoing.

U.S. oil trading set to surpass Brent as shale boosts clout

Trading volume in New York oil futures is overtaking London’s Brent as the shale boom bolsters the U.S. benchmark’s clout in global crude markets.

Halliburton introduces Illusion frac plug

HOUSTON -- Halliburton’s Completion Tools business line, a long-standing industry leader in total composite plug technology, has introduced the Illusion frac plug, the only fully dissolvable frac plug on the market.