Tag: drilling

Report: Drilling activity could rebound as service costs fall

The number of wells will fall this year, but drilling should recover by next year as oil companies “seize their chance to drill at lower cost,” the report notes.  More »

Fracking law opens North Carolina to drilling

The set of 120 rules that govern issues including well construction, water testing and buffer zones was developed by the state Mining and Energy Commission over nearly two years and approved in December by a separate state panel.  More »

ConocoPhillps slashes spending plans for coming years

The largest independent producer of oil and gas had been signalling plans to spend an average of $16 billion per year, but earlier this year, the company whittled its 2015 capital expenditure budget by $2 billion to $11.5 billion.  More »

Pioneer Natural Resources to cut budget by 45 percent

Pioneer reported late Tuesday a profit of $431 million or $2.91 per share.  More »

Houston company postpones $100 million Nebraska plant project

Officials have said the piping and casing manufacturing plant would have employed 200 people.  More »

Lucas Energy seeks merger with West Texas oil company

The two companies said they could make money on the expected $1.1 million in monthly revenue from oil production in the Eagle Ford Shale even if oil prices were at $50 a barrel.  More »

Diamondback Energy to delay drilling, push for cuts to service costs in 2015

Diamondback said that it expects the cost of a horizontal well with a 7,500-foot lateral segment to fall to between $6.2 million and $6.7 million.  More »

Sand boom headed for uncertainty, Moody’s says

With crude prices down more than 55 percent since the summer of 2014, sand producers are facing uncertainty about how much of the material will be needed in the next few years.  More »

Halcón offers second round of budget cuts as crude continues fall

The Houston-based company said yesterday it will spend between $375 million and $425 million drilling and completing new wells this year.  More »

NY farmers lament lost opportunity for gas riches

While environmental groups are doing a victory dance over New York’s decision to ban fracking, farmers such as apple grower David Johnson are grieving for dashed hopes and dreams.  More »

Rig count falls for second week

The number of rigs searching and drilling for oil and gas across the U.S. fell by 18 this week to 1,875, according to data from oil service company Baker Hughes.  More »

Rosetta Resources to cut 2015 spending

The company also said it would pare back the number of drilling rigs it will use and announced plans to refocus more of its budget on the Permian Basin.  More »

Crude fall raises prospects of layoffs in Wyoming

The drop in prices carries widespread implications in Wyoming, where a recently revived oil industry has bolstered payrolls and state coffers.  More »

Shale drillers keep output high despite oil price decline

Companies said they expect to pump more from their prime properties while cutting back in their least productive prospects.  More »

Residents’ lawsuit targets Illinois fracking rules

Among the allegations is that Illinois’ natural resources regulator didn’t consider scientific studies in its first rules notice, denying the public a chance to address the specific information the agency relied upon to draft the rules.  More »
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