Shale ///

First oil

Kurt Abraham, World Oil

Another mixed outlook awaits the E&P sector

Consortium of oil & gas operators awards blockchain pilot contract

“Blockchain is a promising instrument for industry collaboration in oil & gas benefiting all connected parties. This pilot with Data Gumbo is a significant step towards our goal of proving non-manned volume validations can trigger automated payments to vendors,” said Rebecca Hofmann, chairman of the OOC Oil & Gas Blockchain Consortium.

UK shale gas driller mulling sale due to fracing challenges

Investors backing closely-held Cuadrilla Resources, which pioneered UK shale gas drilling before becoming mired in red tape, are exploring options including an outright sale of the company.

Permian basin natural gas prices up as a new pipeline nears completion

The EIA reports that natural gas spot prices at the Waha hub in western Texas, located near Permian basin production, settled at $1.55/million British thermal units (MMBtu) on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service.

TGS enhances production data offering with Lasser acquisition

Lasser owns, maintains and licenses a nationwide U.S. well production database. The data will be added to TGS’ current Well Performance Database and provides TGS clients access to previously unavailable historical production data.

First cargo from Freeport LNG Train 1 for McDermott, Chiyoda and Zachary Group

"We continue to make great strides on the Freeport LNG project with the shipping of the first cargo from Train 1, which is a major milestone for the joint venture project team," said Mark Coscio, McDermott's senior vice president for North, Central and South America.

Big Oil gathers Permian riches as shale stocks collapse

A bloodbath in energy stocks is creating a rich opportunity for Big Oil to dominate America’s hottest shale play. Exxon Mobil’s chief said Wednesday his company is keeping a “watchful eye” on the Permian for potential deals.

Concho sells its New Mexico Shelf assets for $925 million

Concho Resources today announced that it has entered into a definitive agreement to sell its assets in the New Mexico Shelf to an affiliate of Spur Energy Partners for $925 million.

BP focuses on deepwater, shale in historic shift south from Alaska

BP has closed one chapter in its U.S. business, exiting Alaska decades after transforming the state into an oil powerhouse. Now it’s time for a new phase in the company’s American story.

PDC Energy, SRC Energy combine in $1.7 billion all-stock transaction

PDC Energy and SRC Energy announced a definitive merger agreement under which PDC will acquire SRC in an all-stock transaction valued at approximately $1.7 billion.

Permian basin prices up as Gulf Coast Express Pipeline nears completion

Natural gas spot prices at the Waha hub in western Texas, located near Permian Basin production activities, closed at $1.55/MMBtu on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service.

Shale bond buyers get picky as more producers default

After years pouring funds into the shale boom, bond buyers are getting increasingly selective as defaults rise and many explorers continue to burn more cash than they make.

Indianola Energy upstream strategy earns $100 million equity commitment

The company announced a $100 million equity commitment to pursue a new upstream strategy, designed to provide both capital and an execution team to help producers accelerate value on undeveloped acreage in highly-proven resource plays across North America.

Frac companies get fresh hope UK government will loosen rules

A change of British government has given the much-maligned fracing industry another opportunity to make out its case for stimulating the controversial technique to tap unconventional natural gas reserves.

API: Improved endangered species rules will ensure habitat conservation, species protection

API says the streamlining of these regulations will ensure that public-private projects can further promote the conservation of habitat and protection of endangered species, while focusing resources on environmental improvements across the country.

McDermott awarded Gulf coast PDH project FEED contract

McDermott International announced it has been awarded a sizeable contract by PetroLogistics ll to perform the front-end engineering design services for a propane dehydrogenation (PDH) facility planned for the U.S. Gulf Coast.

Western Midstream names new leadership to “grow alongside Occidental” following acquisition

"Occidental sees great value and opportunity in the excellent Western Midstream asset base and is committed to value-enhancing opportunities for both companies," said Vicki Hollub, president and CEO of Occidental.

Texas regulator shifts stance as gas flaring hits record

A split vote by Texas regulators over the flaring of natural gas indicates the controversial practice may be curtailed.

Establishing tertiary EOR operations in unconventional plays

Gary Covatch, Joseph Renk, National Energy Technology Laboratory, U.S. Department of Energy

Two federally-funded projects in the Bakken and Eagle Ford shales strive to improve recovery efficiency in unconventional plays while accelerating their development and generating high-quality data.

Eagle Ford/Austin Chalk Shales: High returns fail to stave off summer retreat

Jim Redden, Contributing Editor

The caliche roads cutting through the blackbrush and mesquite of the South Texas brush country are a bit less congested of late, as Eagle Ford drilling and completion activity dips in what is ranked among the most profitable of the unconventional plays.