- Tight Gas & Oil
- Gas Hydrates
Prices have not yet fallen far enough for an appreciable supply adjustment to occur, researchers say.
The Fort Worth, Texas, company will be able to drill while hunting down more acquisitions—and without taking a major hit to its balance sheet.
The National Center for Policy Analysis, a pro-oil and gas group, on July 30 launched a map that tracks hydraulic fracturing bans, restrictions and other government action. This map will be an ongoing project that tracks the status of federal, state, and local efforts to restrict fracking across the United States, according to group.
The Marcellus and Utica is driving 85% of the growth in U.S. gas production due to the precision and efficiency of fracking in the region, the EIA says.
The index has declined 18% since its peak in October 2014 and 17% since a year ago. Yet, crude and gas recovery increased during the first six months of 2015 and is on track to reach record production.
Drilling contractors are concerned that a stable demand market—albeit at very low utilization—might face another leg down in the wake of retrenching oil prices.
The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.
In an area where Goodrich spends no capex, the company sold 2,850 boe/d in production in the Eagle Ford but apparently did not receive credit for its undeveloped acreage.
From a labor expertise standpoint, workover contractors note the industry is melting away and will experience challenges when demand kicks in—an event now expected to be postponed until 2016.
A Goldman Sachs analyst identifies targets for major oil companies that have failed so far to gain entry into shale plays and need to replace depleted reserves.
The news comes on the heels of an anemic first quarter in which permits applications dropped 32% and gas play applications fell by 35%.