Bakken, shale, 60, oil, activity, recovers, pressure, pumping, demand, uncompleted, wells, backlog

Report: Bakken Needs $60 Oil Before Activity Recovers

Demand for pressure pumping services in the Bakken Shale is flat, the inventory of drilled but uncompleted wells is rising, and pricing is off 18% vs. August.

4:15 pm
Noble, BG, Cyprus, offshore, Israel, LNG, regulations, TPH, gas, Aphrodite, Leviathan

Noble Energy Adds Cyprus Partner, Divests Israeli Offshore Licenses

Noble gets a subpar price for some of its interest offshore Cyprus, including the Aphrodite natural gas discovery, while new regulations force the sale of offshore Israel licenses.

3:00 pm
Enhanced completions, Permian, Delaware, Basin, wolfcamp, shale, Crestwood, EOG, BHP, Torchlight, Captain

Enhanced Completions Activity Highlights: November 2015

Larry Prado, Hart Energy's activity editor, summarizes recent trends in enhanced completions used in the U.S. shale plays.

November 23, 2015
Resolute, Gardendale, Midland Basin, debt, NYSE, Wolfcamp, Texas, sale

Resolute Liquidates Portion Of Midland Basin To Pay Debt

Resolute will also work on the potential sale of its Reeves County midstream infrastructure assets to chip away at its more than $700 million of outstanding debt.

November 23, 2015
cost, saving, Bakken, operators, reduce, proppant, loading, downhole, completions, shale

Cost Saving: Bakken Operators Reduce Proppant Loading

The volume of sand use per well has dropped as Bakken operators seek additional cost savings. Average sand per well is 5 million pounds, down from 6 million pounds 90 days ago.

November 23, 2015
WPX, Newfield, Abraxas, A&D, Eagle Ford, Bakken

E&Ps Take Their Wares To The A&D Runway

WPX Energy and Bill Barrett are among E&Ps actively divesting assets to pay off debt, pay for their own acquisitions or focus on core plays. Other companies are trying to buy, but continue to see private equity beat them out.

November 20, 2015
rig rates, Bakken, shale, drilling, services, markets, utilization

Rig Rates Drop As Bakken Drilling Market Softens

Regional rig utilization has fallen to 40% with little work outside the Bakken core. Several contractors said they don’t expect demand for drilling services in the region to improve until 2017.

November 20, 2015
RSP Permian, Midland, A&D, acquisition, liquidity, equity offering

Liftoff: RSP Permian Closes Midland Deal, Ups Liquidity

Since August, RSP Permian’s acquisitions have added net production of 3,500 boe/d, 277 net horizontal locations and 47,000 net effective horizontal acres while raising liquidity enough to offset overspending.

November 19, 2015
Marcellus, Appalachian, workovers, routine, maintenance, service, operators

Routine Maintenance Accounts For 80% Of Appalachian Workovers

Marcellus operators are doing only what is necessary to keep wells flowing. A few service providers are noting that work volumes have remained unchanged over the last 90 days.

November 19, 2015
Appalachia, drillers, recovery, oversupply, 2017, utilization, rigs, Marcellus, shale

Appalachia Drillers Expect Recovery From Oversupply By 2017

Rig count continues to decline in the Marcellus region, the supply of drilling rigs remains excessive, and contractors peg utilization in the low 40-percentile range.

November 18, 2015

Petrochemical Renaissance Leading to ‘Recompetitive’ US

Continued U.S. NGL supply growth is driving U.S. and global petrochemical infrastructure investment.

November 18, 2015

Twice In One Week, Marathon Petroleum Outbids Itself For MarkWest

Marathon Petroleum increases its cash offer to MarkWest—again—as a “best and final” offer as it tries to entice the MLP’s unitholders to vote in favor of selling the company. 

November 17, 2015