Goodrich Petroleum, Eagle Ford, acquisition, A&D, M&A, TMS, debt, finances, oil, gas

Razing Funds? Goodrich Sells Eagle Ford Acreage, Forfeits Oil Production

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.

July 27, 2015
Workover, well service, Midcontinent, Woodford, shale, Hart Energy

Midcontinent Contractors Worry Over Losing Experienced Crew

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.

July 27, 2015
proppant, frack sand, consolidation, PacWest, IHS, Samir Nangia

Proppant Market On The Way Toward Consolidation

The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.

July 24, 2015
M&A, big oil, EOG, Continental, Noble, A&D, Goldman Sachs

Shale’s Magnificent Seven May See Majors Gunning For Deals

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.

July 24, 2015
shale, permits, Morgan Stanley, Eagle Ford, Permian Basin, Bakken

Shales See Permits Decline By 13% In Second Quarter

The news comes on the heels of an anemic first quarter in which permits applications dropped 32% and gas play applications fell by 35%.

July 24, 2015
KPMG, oilfield service, operators, producers, efficiency

Downturn Could Strengthen Bond Between Operators, Oilfield Services Companies

An improved relationship could lead to greater cost savings with both earning higher margins.

July 23, 2015
Halliburton, Baker Hughes, antitrust, Department of Justice, DOJ, oilfield services, fracking

New Antitrust Concerns About Halliburton, Baker Hughes Deal Not So New

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.

July 23, 2015
Arabella Exploration, Midland, Delaware, Permian Basin, McCabe Petroleum

Arabella Sells Assets In Exchange For Permian Properties, Cash

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%.

July 23, 2015

US Shale A Bright Spot For BHP Billiton

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.

July 23, 2015
BHI, rig auctions, Ritchie Bros., Kruse, oil and gas bankruptcy

Rig Or Mortis: Oilfield Equipment Gets Last Chance At Auction

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.

July 22, 2015
downhole completions, Midcontinent, Woodford, shale, proppant, frack sand

Midcontinent Operators Amplify Frack Sand Volumes

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.

July 22, 2015

EnerVest’s Aim: ‘Drive Down Costs Through Size’

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.

July 21, 2015