More Unconventional News

BHI: North Dakota, Williston spur continued decline in US rig count

Dec 19, 2014

The US drilling rig count dropped 18 units to settle at 1,875 rigs working during the week ended Dec. 19, pushed down by losses in North Dakota and the Williston basin, Baker Hughes Inc. reported. That total, however, was trumped by the 40-unit drop in neighboring Canada.

Comstock to suspend 2015 oil drilling in Eagle Ford, TMS

Dec 19, 2014

Due to low crude oil prices, Comstock Resources Inc., Frisco, Tex., plans to suspend its 2015 oil-directed drilling activity on properties in the Eagle Ford shale in Texas and Tuscaloosa Marine shale (TMS) in Mississippi.

Moody’s: Mid-term elections dim federal fracing regulation prospects

Dec 18, 2014

Results of 2014’s congressional elections have reduced the prospect of the federal government enacting its own hydraulic fracturing regulations, Moody’s said in a Dec. 17 report. It noted that Republicans, who generally have taken the position that state regulations are sufficient, will assume control of the US Senate in addition to the House in January.

Severance tax would backfire, Pennsylvania association leaders warn

Dec 17, 2014

Enacting a severance tax aimed at Pennsylvania’s unconventional natural gas activity would substantially harm the commonwealth beyond the industry itself, three oil and gas trade association officials warned.

New York state moves to ban hydraulic fracturing

Dec 17, 2014

High-volume hydraulic fracturing will be banned in the state of New York, Gov. Andrew Cuomo’s administration announced Dec. 17, citing health risks and concerns about possible contamination of air and water. The state has had a temporary moratorium on fracturing in the Marcellus shale for years.

Encana to focus spending on four core shale assets in 2015

Dec 16, 2014

Encana Corp., Calgary, reported plans to spend $2.7-2.9 billion on its capital budget with roughly 80% of this total directed towards four of what the company is calling its “highest margin growth plays,” namely the Montney and Duvernay shale areas in Canada and the Eagle Ford and Permian areas in the US. Encana expects to generate about 75% of its 2015 cash flow from oil and liquids production.

Cenovus trims budget, slows oil sands work

Dec 16, 2014

Cenovus Energy Inc., Calgary, is trimming its capital spending in response to declining crude oil prices and will slow development of some of its thermal oil sands projects in Alberta.

Pengrowth starts commercial steam operations at Lindbergh thermal project

Dec 16, 2014

Pengrowth Energy Corp., Calgary, reported the startup of commercial steam operations at Phase 1 of its Lindbergh thermal project in the Cold Lake area of eastern Alberta.

Repsol to acquire Talisman in $13 billion deal

Dec 16, 2014

Spain’s Repsol SA has agreed to acquire all shares of Talisman Energy Inc. of Calgary for $8.3 billion along with assumed debt of $4.7 billion. The deal has been approved and recommended by Talisman’s board, and the companies hope to complete it by midyear 2015.

EPP kills plans for Bakken-to-Cushing crude oil pipeline

Dec 15, 2014

Enterprise Products Partners LP (EPP) has elected not to proceed with development of its proposed crude oil pipeline that would have extended 1,200 miles from the Bakken shale to the Cushing, Okla., hub.

Sunshine Oilsands appoints chief executive officer

Dec 15, 2014

Sunshine Oilsands Ltd., Calgary, has appointed Luo Hong as chief executive officer and Jiang Qi as president and chief operating officer.

EIA: US proved oil, gas reserves continue to climb

Dec 15, 2014

US proved reserves of oil and natural gas have increased by 9% and 10%, respectively, according a recent report from the US Energy Information Administration.

A message from Oil & Gas Journal

Dec 15, 2014

An important transition occurred during production of this issue of Unconventional Oil & Gas Report.

US Forest Service takes no stance on fracturing in national forest

Dec 12, 2014

The US Forest Service has dropped a proposal that would have banned hydraulic fracturing in the George Washington National Forest.

EOG sees crude potential in Leonard, Second Bone Spring

Dec 12, 2014

EOG Resources considers various formations within the Delaware basin of West Texas and New Mexico to be one of its three top US plays with the other two plays being the Eagle Ford in south Texas and the Bakken in North Dakota.

Encana plans to hit the ground running in Permian

Dec 12, 2014

Encana Corp. has announced its second major acquisition in a Texas oil play this year, agreeing in September to acquire Permian basin-focused producer Athlon Energy Inc. for $7.1 billion.

Eagle Ford sweet spots still profitable

Dec 12, 2014

The average Eagle Ford well remains viable with US light, sweet crude prices at $80/bbl, but the economics of some wells outside the play's sweet spots could prove vulnerable if prices continue falling, Gaffney, Cline, and Associates said in an analysis of unconventional resources.

Eagle Ford economic boost jumps to $87 billion

Dec 12, 2014

The Texas Eagle Ford shale supported more than 155,000 full-time equivalent jobs and provided more than $2.2 billion in revenue for local governments and the state in 2013, according to a study by the University of Texas at San Antonio (UTSA).

Barnett Briefs

Dec 12, 2014

Southwestern makes $5.4 billion bet on Marcellus

Dec 12, 2014

Southwestern Energy Co. is purchasing Appalachian assets from Chesapeake Energy Corp. in a deal that more than doubles its leasehold in the Marcellus shale and grants it a foothold in an area of the play that is also prospective for the emerging Utica shale.

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