- Tight Gas & Oil
- Gas Hydrates
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.
The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.
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%.
An improved relationship could lead to greater cost savings with both earning higher margins.
Both companies said July 10 that they had agreed to extend the Department of Justice’s review of their merger while Halliburton readies divestment of billions of dollars in revenue-generating business divisions.
The $47 million transaction more than quadruples the Fort Worth, Texas-based company’s net acreage in the Permian Basin and ups production by 15%.
The diversified mining and petroleum company attributes its big boost in liquids production to significant improvements in drilling and completions efficiency in the Eagle Ford Shale and Permian Basin.
Equipment auctions are frequent and often the product of insolvency, but equipment should be thoroughly inspected before bids. The equipment has often been cannibalized for parts.
Metrics on stage spacing, number of stages, and fracture stimulation technique have not changed during the downturn. Rather, low prices are encouraging operators to drill longer laterals and boost sand use.
The company’s overall size—with more than 36,000 wells across 15 states—offers ‘a lot of operating efficiencies and synergies,’ president Ken Mariani says.