Commentary: Focus for oil is on inventory, jobs data

Once again, the API has put the cat among the pigeons ahead of the weekly EIA inventory report. Prices had already spent yesterday getting stomped on all day, before the API released its report, revealing a surprise 7.6 million barrel build versus the expectation for a minor 0.8 mb draw. This was the largest build […]

In Eagle Ford, local officials win rights on road control

In a bitterly contested case of neighbor against neighbor over access to the spoils of the Eagle Ford Shale, a court ruling has strengthened the hand of county officials seeking to maintain control of local roads.
(AP photo/Brennan Linsley)

Encana sends Louisiana shale assets to private venture in $850 million deal

Encana Corp. said Tuesday it will sell $850 million of Louisiana shale play acreage to a partnership between a closely held Woodlands oil and gas driller and a private equity firm.

Report: Oil falling, but Eagle Ford, Bakken output on the rise

Oil prices are tumbling this year, but production from the Eagle Ford Shale and Bakken formation increased slightly between June and July, according to Bentek Energy. Average oil production in the Eagle Ford in South Texas was 1.6 million barrels per day in July, up by about 10,000 daily barrels over June production. It was an
Categories: Eagle Ford
Eagle Ford Shale production to dip in August

CFO leaves struggling Goodrich Petroleum

Goodrich, which could soon receive a delisting warning from the New York Stock Exchange for trading below $1 for 30 consecutive business days, saw its stock close at a new low Wednesday of 71 cents a share, down 7 cents for the day.
A Swift Energy Co. production facility in Lake Washington off the Louisiana coast. (Swift Energy Co.)

Swift Energy risks NYSE delisting

Swift, which focuses on exploration and production in Texas and Louisiana, has struggled financially for a few years, but has seen its value dip precipitously along with oil prices since last year.
Oil field workers in 2012  drill into the Gypsum Hills near Medicine Lodge, Kan.   U.S. Steel said Tuesday it will lay off about 750 employees from two plants that make tubular steel, which is used in oil and gas drilling(AP Photo/Orlin Wagner, File)

Goodrich aims to keep afloat as stock plummets

Chairman and CEO Gil Goodrich said in a conference call the company is selling much of its Eagle Ford Shale acreage in Texas for $118 million to “boost our liquidity and lengthen our runway.” The sale is going to an unnamed buyer so Goodrich Petroleum can keep itself afloat financially and pay off existing debt. The company said it would net a $50 million gain from the deal.
(Photo by Eddie Seal for Bloomberg News)

Eagle Ford Shale tops Texas list of top crude, gas producers

Communities in the Eagle Ford Shale in South Texas topped the state’s list of the top oil- and natural gas-producing counties in June, according to data released this week by the Texas Railroad Commission. Karnes County continues to pump more crude oil than any other county, with nearly 6.8 million barrels produced in June.

Commentary: Exporting the U.S. Shale Boom

After already writing about Indiana Jones this week, and kicking off this post with an homage to The A-Team’s Hannibal (George Peppard, of course), you may think that I am stuck in the eighties, but I assure you this is not the case. (Mostly). The reason for the aforementioned Hannibal reference is because I was mulling over […]

A big, fat delivery of frac sand arrives in the Eagle Ford Shale

Unimin said that it, with Union Pacific Railroad, delivered the sand to the Mission Rail Terminal in Elmendorf. The unit train was 6,200 feet long and was powered by four diesel engines.