Shale ///

Market bellwether Caterpillar tumbles amid Permian slowdown

Caterpillar Inc. shares fell after the heavy-equipment maker projected 2019 earnings at the low end of its forecast amid rising costs, declining sales in Asia and a slowdown in oil and gas spending in the prolific Permian Basin.

Santos gets nod for Australian onshore shale gas exploration

Santos announced it has received approval for Australia’s first Environmental Management Plan to be awarded for onshore shale gas exploration in the Northern Territory since the moratorium was lifted in early 2018.

McKinsey report sees U.S. gas reach below $3/MMbtu in the next ten years

Latest McKinsey Energy Insights report reveals US gas economics will reach below $3/MMbtu in the next ten years due to ample supply, which will support North American gas exports and unlock further demand growth domestically.

Blackstone considers sale of Cheniere stake

Blackstone Group is considering selling its stake in Cheniere Energy Partners, according to people familiar with the matter, seven years after agreeing to invest about $1.5 billion in the owner of the first major liquefied natural gas export terminal in the U.S.

Faster Permian decline rates demand new investment, M&A strategies

Accelerating tight oil decline rates top a growing list of concerns for Permian basin operators, with unexpected production shortfalls prompting producers to consider stepping up drilling investment and M&A activity.

Oxy responds to Carl Icahn’s boardroom shakeup proposal

In response to actions by billionaire activist investor Carl Icahn, Occidental Petroleum mailed a letter to shareholders in connection with definitive proxy materials it has filed with the SEC.

New shale technology detects completion problems, parent/child well interference

Deep Imaging today announced the first and only real-time solution for tracking fluid as it’s pumped through the wellbore and out to the fracture tips during a completion job.

Shale boom architect Mark Papa named new Schlumberger chairman

Schlumberger is tapping as its chairman an executive who earned a reputation for building shale producers that bypass oil service companies.

Apache completes midcontinent asset sales

The asset sales reflect the company’s exit from the Western Anadarko Basin and the previously announced exit from the SCOOP/STACK play.

Schlumberger sees shale output boom slowing on budget cuts

Schlumberger expects surging oil production from North American shale basins to slow as explorers cut spending, outgoing CEO Paal Kibsgaard said during the company’s second-quarter earnings call.

Range announces Appalachian asset sales of $634 million

Range Resources has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres in southwest Appalachia for gross proceeds totaling $600 million.

EIA: Summer natural gas prices on track to be the lowest since 1998

EIA forecasts Henry Hub natural gas spot prices for June, July, and August this year will average $2.37 per MMBtu.

Solaris Water launches expanded New Mexico recycling operations

Solaris Water launches operations at its expanded Lobo Ranch Produced Water Recycling and Blending Center in Eddy County, New Mexico.

Permian watch: America’s hottest shale play is slowing down

The engine of America’s shale boom is beginning to sputter.

No fast exit from Permian oil for private equity, RS Energy says

Private equity has been ramping up its investment in Permian basin oil and natural gas production, but the old strategy of selling out after a few years is no more, according to RS Energy Group.

U.S. DUC shale backlog declines, except in Permian basin

The backlog of DUCs in major U.S. shale plays fell for a fourth straight month, the longest stretch of declines since 2016.

EIA: Growth in Argentina’s Vaca Muerta shale, tight gas production leads to LNG exports

Argentina’s domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the Neuquén basin’s Vaca Muerta shale and tight gas play.

Cracks in Permian promise slowing shale boom

The promise of the Permian is shrinking.

Cuadrilla confirms return to UK frac operations

Cuadrilla today confirmed that it will return to hydraulic fracturing and flow testing of natural gas at its flagship Lancashire site in Preston New Road, near Blackpool.

Colorado and New Mexico officials rescind the welcome mat for oil and gas

David Blackmon, Contributing Editor

Elected officials are doing their best to kill off the golden goose in two states that have benefitted mightily from the shale revolution.