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horizontal drilling

Shareholders have criticized Chesapeake’s board for failing to rein in what they’ve seen as Chief Executive Officer Aubrey McClendon’s risk-taking and overspending at the company. (F. Carter Smith/Bloomberg )

McClendon’s West Texas venture plans Wall Street debut

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Wildcatter Aubrey McClendon’s oil and gas startup in West Texas may be the latest venture in the Permian Basin to beckon for Wall Street investors, sitting astride one of the most lucrative U.S. shale plays.
(Alexander Zemlianichenko Jr./Bloomberg)

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

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The bear market in oil has analysts reassessing the U.S. shale boom after five years of historic growth.
Jose Valdez welds a tank at Kerrville-based Fox Tank Co., which which builds steel oil field tanks. (William Luther/San Antonio Express-News)

Shale boom buoys businesses far removed from oilfields

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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.
(StockMonkeys.com)

Oklahoma lawmakers to unveil new tax rate proposal for wells

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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.
baker hughes walking rig

Report: Horizontal rigs surging in Permian Basin

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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.
Oklahoma state Senate President Pro Tem Brian Bingman, right, R-Sapulpa, looks on during a news conference to announce an agreement on the budget, as state Sen. Clark Jolley, left, R-Edmond, answers a question at a news conference in Oklahoma City. (AP Photo/Sue Ogrocki)

Oil tax incentive change part of Oklahoma budget debate

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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.
Last Mile - Final fueling

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

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Output rose 78,000 barrels a day to 8.428 million, the most since October 1986, according to Energy Information Administration data.
John Kingston, news director at Platts, speaks about threats to U.S. oil drilling during the sixth annual S&P Capital IQ Energy Symposium in downtown Houston. (Collin Eaton/Houston Chronicle)

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

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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.
(Buller Photography)

Company overcomes major obstacles to complete lengthy interstate drill

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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.
FTS International workers and equipment conduct simultaneous fracturing on a multiple well pad site in Fort Worth Basin. (FTS International)

Pumps move to the Permian under market pressure

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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.