Shale

Encana's Fourth-Quarter Profit Beats, Production Rises

Encana Corp. (NYSE: ECA) posted a better-than-expected fourth-quarter profit on Feb. 15 and said production rose 4%. Calgary, Alberta-based Encana, which produces gas and light oil, has benefited from whittling down its operations to focus on its four core North American assets: acreage in Montney a ...

Marathon Oil Profit Beats Forecasts On Rising Crude, Cost Cuts

Marathon Oil Corp. (NYSE: MRO) posted a better-than-expected adjusted quarterly profit on Feb. 14, helped by rising crude prices and cost cuts, sending its shares up more than 2% in extended trading. Marathon said it plans to raise spending this year slightly from 2017, while hewing closely to a str ...

Russian Energy Minister: Global Oil Inventories Shrinking Despite US Output Jump

Global oil stockpiles, the benchmark for a global supply pact, have been on the decline despite a production boost in the United States, Russian Energy Minister Alexander Novak said Feb. 13. OPEC and other large oil producers, led by Russia, have agreed to cut their combined oil output by about 1.8 ...

US Shale Producers Could Wreck OPEC Led Oil Price Stability

Big oil producing nations have nearly achieved their goal of draining a prolonged oil glut after taking some bitter medicine: cutting the crude production that funds their governments. But with victory in sight, U.S. drillers are poised to spoil OPEC’s plans for the second time in three years. On ...

WildHorse Jumps To Eagle Ford Shale With Louisiana Asset Sale

WildHorse Resource Development Corp. (NYSE: WRD) will sell its northern Louisiana assets for more than $200 million as the E&P shifts to a pure-play Eagle Ford Shale strategy—underscored by the announcement of a smaller bolt-on deal in South Texas. WildHorse, the second largest leaseholder in the ...

Snatching Slow Growth from the Jaws of Fast Growth

The U.S. economy continues to be lifted by an incredible wave of new technology. Fracking, 3-D printing, smartphones, apps, and the cloud have boosted productivity and profits. Yet taxes, regulation and spending all increased markedly in the past decade, raising the burden of government and dragging ...

Texas Drilling Permits, Completions Rise As Crude Prices Firm

Texas oil and gas producers received 1,166 drilling permits last month, a 21% increase over year-ago levels, the state energy regulator said Feb. 9, after filings surged on the back of higher crude prices. Nearly half of January's permits were issued for the Midland area of West Texas, home to the P ...

Commentary – Going for Gold is Never Easy

I love competition. So what better time to think about raw rivalry than during the Winter Olympics, now underway in PyeongChang, South Korea. Whether the arena is sports or business, “Playing to Win!” is a mandatory mental mantra. It’s a blood sport out there for energy suppliers. Every team ...

SandRidge Energy Ousts CEO, CFO After Push From Icahn

SandRidge Energy Inc. (NYSE: SD) ousted its CEO and CFO on Feb. 8 and said it would cut spending, a victory for activist investor Carl Icahn who has railed for months against the U.S. shale producer's board and management. The departures could pressure other U.S. shale producers facing investor unre ...

Hess Sees Gains In Bakken With New Completion Design

A new completion design with 60 sliding sleeve stages and proppant loading of 140,000 pounds per stage is boosting EUR rates by as much as 15% in the Bakken shale play for Hess Corp. (NYSE: HES). The improvement in both EUR and IP 180 productivity prompted Hess to increase the EUR estimate for its B ...