From Reuters U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen
By Tyler Losier, Energy Reporter, Oil & Gas 360 Shell Offshore Inc. makes final investment decision for PowerNap deep-water project in U.S. Gulf Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc (stock ticker: RDS-A, RDS-B), has reached a final investment decision (FID) for the PowerNap deep-water project in the US Gulf of Mexico, electing to move forward with
The oil and gas sector in Texas remained strong through March according to the Dallas Fed’s new report. Prices for WTI crude oil rose slightly in March, staying close to $63 per barrel and oil production in the Permian Basin and Eagle Ford rose again. Employment spiked up in February and is at its highest level since late 2015, while
Bonanza Creek Energy, Inc. (ticker: BCEI) exceeded the company’s high-end of Q4 2017 estimates by producing 14.8 MBOEPD. The company is expecting Rockies production to grow by 20% in 2018 and in 2019 Bonanza Creek said it expects an increase of 50% or more. Expanding core footprint in DJ with French Lake “In 2017, we secured our strategically important leasehold
Oil prices have been on the rise over the course of the last several months, and for the first time in a long time, rig count has been moving up instead of down. With the price reaching $50 a barrel, the expectation is that oil and gas producers will likely stand rigs back up and put frac crews back to
Drilling but not completing wells–why is it done? The uncertainty of the last year and a half surrounding the oil and gas industry has given rise to a multitude of different rationales about industry practices. Rig counts have been dissected, production levels followed, and any data point that could possibly be related to oil and gas has been factored in. Big
The oil and gas industry is a cyclical business, but it also a business of trends. At last year’s The Oil & Gas Conference®, the term “sand” was mentioned repeatedly in regards to completion techniques and optimizations. The term of choice during the commodity downturn is “efficiency” as operators develop methods to generate the best bang for the buck. A
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
