Tag: horizontal drilling

Oil at $80 a barrel muffles forecasts for U.S. shale boom

The bear market in oil has analysts reassessing the U.S. shale boom after five years of historic growth.  More »

Shale boom buoys businesses far removed from oilfields

The boom has been most generous to companies working in states with the most oil and gas activity, but the economic boost has also trickled down to steel-makers and machine tool manufacturers based in regions with no production, the report said.  More »

Oklahoma lawmakers to unveil new tax rate proposal for wells

An incentive for a 1 percent tax rate for horizontally drilled oil and gas wells would be increased to 2 percent and extended to all wells drilled in Oklahoma under a bill drafted in the Oklahoma Legislature on Monday.  More »

Report: Horizontal rigs surging in Permian Basin

Half the increase in horizontal drilling over the last five months has happened in the Permian Basis, according to a new U.S. Energy Information Administration report.  More »

Oil tax incentive change part of Oklahoma budget debate

The Legislature this year also has yet to reach an agreement on a generous tax incentive currently in place for horizontally drilled wells that reduces the tax from its regular rate of 7 percent to 1 percent.  More »

Shale boom sends U.S. crude production to 28-year high

Output rose 78,000 barrels a day to 8.428 million, the most since October 1986, according to Energy Information Administration data.  More »

Panel: Colliding well bores, export ban threaten booming US drilling

In the past two years, souped-up rigs have spun wells into U.S. soil faster than ever, but limited water supplies and other looming challenges threaten to constrain future drilling investments, industry observers said Wednesday.  More »

Company overcomes major obstacles to complete lengthy interstate drill

The 11,065-foot span is raising speculation that it was the longest horizontal length that ever has been drilled on land and under a river, one of the biggest obstacles Mother Nature can throw at a pipeline drill.  More »

Pumps move to the Permian under market pressure

Rigs designed for horizontal drilling made a big move last year into the Permian Basin, the last major U.S. oil patch to remain a stronghold for older vertical units. But that’s small relief two years after a surge of oil field services startups left the U.S. market with far too much fracturing equipment and sent prices for fracturing jobs plummeting.  More »

Poll finds Americans lack understanding of key energy issues

A new UT poll finds contradictory opinions about energy, with large majorities of Americans enthusiastic about the natural gas boom, but not about the technology that has made it possible.  More »

Two West Texas plays poised for surge in production, investment

The advent of horizontal drilling could push investment in two of the West Texas oil field’s key plays to $22 billion by 2018.  More »

Mitchell saw riches where most saw stone

The oil and gas boom that is revolutionizing the politics and economics of energy worldwide started in the 1980s with the solitary — even stubborn — persistence of George Mitchell.  More »
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