More Unconventional News

SPE Conference: Heavy oil development requires long-term view, incoming president says

Jun 15, 2015

Speaking to a half-empty auditorium that reflected the tough economic environment of the North American onshore market, Janeen Judah, incoming president of the Society of Petroleum Engineers, addressed attendees June 10 at SPE Canada Heavy Oil Technical Conference in Calgary about the problems facing heavy oil.

BHI: US rig count continues fall in 27th straight week

Jun 12, 2015

The US drilling rig count declined 9 units during the week ended June 12 to settle at 859 rigs working, according to data from Baker Hughes Inc.

IHS: Eagle Ford companies schedule wedge production

Jun 12, 2015

Producers working in the South Texas Eagle Ford shale had built an inventory of nearly 1,400 drilled but uncompleted wells (DUC) as of Apr. 10, and IHS researchers said DUCs provide an economic strategy during the oil price downturn for many operators.

Texas Legislature, Gov. Abbott limit municipal control over fracturing

Jun 12, 2015

Texas Gov. Greg Abbott has signed a bill to prevent municipalities from banning hydraulic fracturing in a move that was expected after the city of Denton last year approved a referendum to prohibit fracturing within Denton city limits.

Whiting reports high IP rates from Bakken, Three Forks

Jun 12, 2015

Whiting Petroleum Corp. reported some of industry's top initial production rates from both the Bakken and Three Forks formations in the Willison basin where the company controls 774,000 net acres and has identified more than 7,500 potential gross drill sites.

Study: Pennsylvania gas severance tax would reduce Marcellus horizontal drilling

Jun 12, 2015

A proposed natural gas severance tax in Pennsylvania would have negative economic consecutives, reducing the number of horizontal gas wells drilled and increasing job losses, said a Natural Resource Economics Inc., study released by the Associated Petroleum Industries of Pennsylvania (API-PA).

RJA: US rig count recovery will be led by three core unconventional plays

Jun 12, 2015

Raymond James & Associates revised its US rig count forecast, noting it expects a 2016 recovery will be disproportionately weighed toward horizontal drilling units in three shale plays: the Permian, Eagle Ford, and Bakken.

US Forest Service agrees to add a map to White River National Forest leasing plan, rejects most objections

Jun 12, 2015

A US Forest Service official rejected most objections raised by various groups regarding USFS's draft oil and gas leasing decision for the White River National Forest in western Colorado although Encana Corp. of Calgary was successful in its request to get a map included in the final decision.

Statoil lets carbon dioxide contract for Bakken pilot

Jun 12, 2015

Statoil has let a major carbon dioxide supply and service agreement to Ferus LP of Denver to supply liquid CO2 to be used in a test well to evaluate potential production uplift and partially replace water in a large multistage hydraulic fracturing operation in a horizontal oil well.

Study outlines policy strategy for unconventional development

Jun 12, 2015

Unconventional oil and gas presents perhaps the single largest opportunity to improve the trajectory of the US economy, according to a report released by Harvard University Business School (HBS) and Boston Consulting Group Inc. (BCG).

CAPP: Canadian production to reach 5.3 million b/d by 2030

Jun 11, 2015

The Canadian Association of Petroleum Producers (CAPP) estimates production of Canadian oil will increase 43% over 16 years to 5.3 million b/d by 2030 compared with 3.7 million b/d in 2014.

Colorado briefs

Jun 11, 2015

Statoil focused on improving completions and doing tests during low-drilling period

Jun 11, 2015

Statoil ASA plans to use what one executive calls "low-activity time" to work on completion designs and to enhance recovery in its unconventional US plays, especially the Bakken of North Dakota and South Texas Eagle Ford. Statoil also holds operating and nonoperating assets in the Marcellus.

Bakken briefs

Jun 11, 2015

Utica Briefs

Jun 11, 2015

Foster Creek resumes operations after CLAWR forest fire

Jun 11, 2015

Cenovus Energy Inc. reported on June 11 that it has resumed operations at its Foster Creek oil sands project in northern Alberta after a forest fire on the Cold Lake Air Weapons Range (CLAWR) led to a precautionary, 11-day shutdown of the operation on May 23.

Quicksilver Resources, others file for Chapter 11 bankruptcy protection

Jun 11, 2015

Quicksilver Resources Inc., Fort Worth, Tex., filed for Chapter 11 bankruptcy protection in Delaware, becoming at least the third unconventional producer to seek reorganization during the ongoing oil-price downturn.

Economics incentivize deferring unconventional well completions

Jun 11, 2015

The market has responded with a steepened contango to incentivize storage of crude, and the relatively higher price for delivery a year from now had widened toward the end of the first quarter to as much as $9-12/bbl compared with the next month delivery.

Eagle Ford briefs

Jun 11, 2015

Noble Energy Agrees to enter Eagle Ford shale, Permian Basin By Acquiring Rosetta Resources

Jun 11, 2015

Noble Energy Inc. agreed to buy smaller rival Rosetta Resources Inc. for $2.1 billion in a stock transaction. The two companies, both of Houston, said the merger marked Noble's entry into the South Texas Eagle Ford and also the Permian basin.

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