Tag: permian

Shale boom to start busting as U.S. output set to fall

The shale oil bonanza that made millionaires from Texas to North Dakota is slowing down for the first time in years, a sign that painful industry cutbacks are starting to have an impact.  More »

EIA: Eagle Ford production will slow in April

Oil production from the six largest shale plays in the U.S. will hit 5.6 million barrels per day in April, an increase of less than 300 barrels per day over March.  More »

U.S. rigs are being idled, but the oil boom is not ending

The industry has become better at blasting crude out of deep underground layers of rock, according to productivity data tracked by the EIA in the major shale prospects.  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 »

Apache to cut North American spending

Apache will cut its North American spending from $5.4 billion to $4 billion, the company told analysts at a presentation in New York, but it said it will be able to spend that money more efficiently.  More »

Water outreach should be a priority for drillers, report says

Oil companies don’t have the best reputations in the communities where they drill, and can be seen as threats to local water supplies.  More »

Permian crudes weaken after Sunoco pipeline spill

Crude extracted from the largest U.S. oil field weakened against the U.S. benchmark after producers lost access to Midwest markets when a 4,000-barrel spill in Louisiana forced the shutdown of a key pipeline.  More »

Targa Resources to acquire Atlas for $5.9 billion

The acquisition will create a company with a presence in four of the top five basins by active rig count.  More »

Eagle Ford, Permian drilling production surges

According to the Texas Petro Index, oil production in Texas rose almost 20 million barrels.  More »

Linn Energy is selling $2.3 billion in assets

Proceeds from Linn’s sales will be to pay for $2.3 billion worth of assets it bought Devon Energy Corp.  More »

Encana buying Permian-focused Texas company for $5.9 billion

Calgary-based Encana Corp. will buy Fort Worth’s Athlon Energy in a deal worth $7.1 billion that will give the Canadian company’s a sizable footprint in the Permian Basin.  More »

Midland, Cushing price difference not letting up, report says

A new government report says West Texas Intermediate crude traded in the Permian Basin market of Midland has averaged almost $6.70 per barrel less than the U.S. benchmark price set at a hub in Cushing, Oklahoma.  More »

Rigs in U.S. rose by 11 to 1,925, Baker Hughes says

The total energy rig count has almost doubled from five years ago as producers use horizontal drilling and hydraulic fracturing to draw record volumes of oil and gas out of shale formations from North Dakota to Texas.  More »

Occidental breaks ground on Midland complex

MIDLAND — Occidental Petroleum officials and employees gathered earlier this week with local- and state-elected officials — including Gov. Rick Perry — to break ground for the company’s Midland office. Mayor Jerry Morales began the event, welcoming participants and citing not only Occidental’s job creation but its contributions to the community — from schools to […]  More »

Ending ban on oil exports would mean cheaper gasoline, energy executive says

ConocoPhillips senior economist Helen Currie, citing a study by the energy consulting firm IHS Inc., said prices at the pump would fall by about 8 cents a gallon should crude exports be allowed.  More »
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