Shale
News
October 23, 2020
The American Petroleum Institute corrected the record on discussions about a fracking ban, implementing a carbon-free power sector by 2035, replacing natural gas and oil jobs with clean energy jobs, and policies to reduce CO2 emissions.
News
October 22, 2020
There are several ways Biden could halt fracking on federal lands using executive power. He could ban new oil and gas leases, halt new permits, or seek a specific regulatory ban on fracking, all of which Biden has telegraphed at one point or another on the campaign trail.
News
October 22, 2020
Exxon’s stock has plunged 52% this year and the company all but ended its aggressive, $30 billion-a-year counter-cyclical growth strategy. Rivals such as BP and Chevron have also announced large layoffs in recent weeks.
News
October 21, 2020
“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer CEO Scott Sheffield said on a conference call with analysts. “The best companies have been picked off the past few weeks.”
News
October 20, 2020
Pioneer Natural Resources Co. is in discussions to buy rival Parsley Energy Inc. in an all-stock deal that could be finalized by the end of the month, according to a person familiar with the matter. Pioneer is run by Scott Sheffield, while his son Bryan is Parsley’s founder and chairman.
News
October 20, 2020
Concho Resources Inc., an early explorer of the Permian basin’s once-coveted oil riches that was worth $32 billion just two years ago, is selling for $9.7 billion in stock. ConocoPhillips is paying a meager 15% premium over Concho’s closing price on Oct. 13, the last trading session before Bloomberg News first reported the companies were in talks.
News
October 19, 2020
The acquired assets include approximately 65 miles of pipeline and 100,000 barrels per day of installed and permitted disposal capacity. As part of the sale, Cimarex has agreed to a 15-year acreage dedication in the Whites City area, which encompasses more than 40,000 acres, for the gathering, disposal and recycling of its produced water.
News
October 19, 2020
“We’re the first U.S. based oil and gas company to take this step,” CEO Ryan Lance said during a conference call intended to discuss the company’s $9.7 billion deal to buy Concho Resources Inc.
News
October 19, 2020
“The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Halliburton CEO Jeff Miller said in a statement.
News
October 19, 2020
The combination Conoco and Concho will be one of the dominant operators in the Permian Basin of West Texas and New Mexico, rivaling only the likes of Occidental Petroleum Corp. and Chevron Corp. in terms of crude output.
News
October 16, 2020
While opinions differ on oil demand and production rates, a fourth week of growth in the rig count appears to prove some projections right, while invalidating others.
News
October 16, 2020
The SmartFleet system connects to the reservoir through subsurface sensing to continuously measure cluster uniformity and fracture geometry. The system applies the measurements to make intelligent adjustments that improve fracture placement.
News
October 14, 2020
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
News
October 14, 2020
Trailing Biden in the polls and looking to drive up support among white, working-class voters that helped deliver him Rust Belt states in 2016, Trump has turned to fracing as a last-ditch measure to make up ground. Biden holds a lead of 7 percentage points in Pennsylvania, according to a RealClearPolitics average of polls.
News
October 14, 2020
The potential combination would be the latest sign that long-expected consolidation in the shale patch has finally arrived. A purchase of Concho, which has an enterprise value of $12.3 billion, could become the year’s largest takeover of an oil and gas company.
News
October 12, 2020
Panhandle Oil and Gas has closed the previously announced purchase of two mineral and royalty packages in Grady County, Okla., and Panola and Harrison Counties, Texas, from Red Stone Resources, LLC.
News
October 09, 2020
Affected employees are being asked to reapply for their existing positions, with layoffs set to take place beginning October 23rd.
News
September 28, 2020
The combination will create one of the biggest independent shale producers in the country, tying together two companies with sizable operations in the hottest part of the prolific Permian Basin, which straddles West Texas and southeastern New Mexico.
News
September 25, 2020
While Canada's leaders promise measures to protect oilfield livelihoods, shale drillers in the U.S. are working to minimize the impacts of a potential Biden victory.
News
September 25, 2020
The Permian in New Mexico, unlike in Texas, lies largely on federal land. And Biden, the Democratic candidate for president, has promised to ban new fracing on federal land on “day one” if elected.
News
September 24, 2020
After all the trauma the U.S. oil industry has been through this year -- from production cuts to mass layoffs and a string of bankruptcies -- many producers say they’re still prioritizing output over reducing debt.
