Tuesday, May 3, 2011
Chesapeake readies shale sale
Even as Chesapeake buys up Bronco Drilling, they are making plans to put major acreage on the selling block in hopes to cut debt. CEO McClendon has stated that the company is looking for a joint venture in the Utica play. With the prospect of a partner sitting out there Chesapeake still looks to up the anti in both the Utica and Mississippian plays by nearly doubling the rig count in both areas.
Chesapeake readies shale sale - Upstream Online
Chesapeake readies shale sale - Upstream Online
Monday, May 2, 2011
Southern Bay begins drilling in Fayette County
Southern Bay, GeoResources' southern division subsidiary, is drilling a well to a TD of 10,500 feet in Fayette County to target Eagle Ford Shale.
Southern Bay in Fayette County
Southern Bay in Fayette County
ONEOK to Present at the AGA Financial Forum
ONEOK, Inc will present at the American Gas Association Financial Forum on Monday, May 16, 2011 in Orlando, FL. (11:15 am EDT)
Further information at www.oneok.com
Further information at www.oneok.com
UPDATE- Delek US Holdings announced completion of purchase of Lion Oil
Delek US Holdings announced April 29, 2011 that is had completed the purchase of a 53.7% majority equity interest in Lion Oil Company, giving Delek a total interest of 88.3%. More information on the sale will be provided on the conference call and web cast May 5, 2011 at 11:00 am CT on www.DelekUS.com .
Enbridge puts out $175 million to Expand infrastucture in Haynesville Shale
Enbridge will invest $175 million to expand its East Texas system. The partnership has signed agreements that would bring gathering, treating, and transmission services to Shelby, Sabine, San Augustine, and Nacogdoches counties. Expanding Haynesville Shale Infrastructure
Breitling Spuds Tx. Well to Test Upper Frio-aged Oil
Breitling drills in San Patricio County, TX as a continuation of development in its Gulf Coast Onshore Initiative.
Breitling-Salsa #1
Breitling-Salsa #1
Southwestern Energy better then expected in Fayetteville Shale
Southwestern Energy's Fayetteville Shale pulls Q1 earnings up for the rest of the production areas. The shale play in north-central Arkansas, was stronger then expected and prompted SWN to increase capital investments for 2011. This increase will result in 30 additional wells drilled in the Fayetteville Shale.
SWN conference call transcripts for 2011 Q1
SWN conference call transcripts for 2011 Q1
Bakken producers take another hit
Just when it looked like producers in the Bakken region were reading to hit the ground running for the warm months, mother nature throws a wrench. Blizzard stops Bakken
Friday, April 29, 2011
Oil and Gas by the Numbers 04/29/2011
Good afternoon from oil country. Looking at the numbers today, the price of WTI crude is currently at $113.87/barrel. That's a whopping $24.80/barrel more then a year ago, is it any wonder that gasoline is also a $1.00/gallon higher then last year too. The rigs keep rolling in with an increase of 18 in the US this week. Some of the states sporting increases are: TX, LA, OK, PA, WY, and WV.
TX: 804
LA: 172
OK: 183
ND: 160
PA: 105
NM: 72
CO: 72
WY: 42
CA: 41
AK: 5
WV: 15
MT: 10
TX: 228
ND: 31
MT: 8
National Average: $3.91/gal
US Low: WY $3.521/gal
US High: HI $4.595/gal
Rig Count
updated 04/29/11
United States Total: 1818 (up 18 rigs)TX: 804
LA: 172
OK: 183
ND: 160
PA: 105
NM: 72
CO: 72
WY: 42
CA: 41
AK: 5
WV: 15
MT: 10
Applications to Drill
04/22/11 thru 04/28/11
TX: 228
ND: 31
MT: 8
Gasoline Prices
04/29/11
National Average: $3.91/gal
US Low: WY $3.521/gal
US High: HI $4.595/gal
Rig updates in the Bakken -MonDak Oilfield Review
If your looking for a quick update on the Bakken rig counts this is the link for you.
Rock and Roll Roughneck- MonDak Oilfield Review
Rock and Roll Roughneck- MonDak Oilfield Review
Thursday, April 28, 2011
Linn Energy posts Acquisition agreements totaling $637 million
Linn Energy will enter a new operating area with its acquisition in the Williston Basin Bakken at $196 million and also two bolt-on acquisitions for $163 million. In the Permian Basin, Linn Energy completed two additional bolt on acquisitions totalling $238 million. Linn Energy Q1 2011 Results
Carrizo Oil & Gas Announces Sale of Non-Core Barnett Shale
Carrizo Oil & Gas has entered into a definitive agreement to sell a majority of their Barnett Shale Tier 1 assets to KKR Natural Resources for $104 million.
Details at: Carrizo Oil & Gas
Details at: Carrizo Oil & Gas
Chesapeake Energy Moves forward on Bronco Drilling Acquisition
Details for the aquisition of the drilling company can be found at: Chesapeake Energy to Aquire Bronco Drilling Company
Talisman sells Wyoming acreage
UnionTown Energy has its eyes on targets in the Darby Block prospect.
Talisman sells Wyoming acreage - Upstream Online
Talisman sells Wyoming acreage - Upstream Online
Apache ups earnings on price and flows
Apache has operational fronts, state side, in Permian Basin, Anadarko Basin, and the Gulf of Mexico deepwaters. They are currently boasting a 25% increase in Q1. You can read a quick breakout of their Q1 report at:
Apache ups earnings on price and flows - Upstream Online
Find the full news release at: Apache Corp (APA)
Apache ups earnings on price and flows - Upstream Online
Find the full news release at: Apache Corp (APA)
Marathon Oil (MRO) - Declares dividend
The board of directors declared a dividend of 25 cents er share on MRO common stock. The dividend is payable June 10, 2011.
For full details: Marathon Oil
For full details: Marathon Oil
Samson Oil & Gas - Earl #1-13H
Weather, holiday, and breakdowns slows down operations on the Earl #1-13H. Work began yesterday to drill out the 19 plugs down hole. Samson reports they are encouraged by the marked increase in oil rate after the first plug was removed.
Monday, April 25, 2011
Friday, April 22, 2011
Oil and Gas by the Numbers 04/21/2011
Rig Count
updated 04/15/11
United States Total: 1800 (up 28 this week)
TX: 801
LA: 170
OK: 174
ND: 161
PA: 104
NM: 73
CO: 72
WY: 41
CA: 41
WV: 14
MT: 10
AK: 6
Permits Issued for Drilling
04/15/11 thru 04/21/11
TX: 661
ND: 20
MT: 3 new, 2 reissued
CA: no report
WY: 72
Gasoline Prices
04/22/11
National Average: $3.83/gal
US Low: WY $3.524/gal
US High: HI $4.640/gal
Wednesday, April 20, 2011
Muddy roads, reserve pits flooding main problems in oil field
I posted up a picture earlier of the flooding on just one location in the Bakken. 
Here is a quick article from the Minot Daily News about the effects on the oil industry.
Muddy roads, reserve pits flooding main problems in oil field - MinotDailyNews.com News, sports, business, jobs - Minot Daily News
Here is a quick article from the Minot Daily News about the effects on the oil industry.
Muddy roads, reserve pits flooding main problems in oil field - MinotDailyNews.com News, sports, business, jobs - Minot Daily News
McMoRan beats Street Estimates
Gas prices help company to cut losses from last years numbers.
McMoRan beats Street - Upstream Online
McMoRan beats Street - Upstream Online
Monday, April 18, 2011
Samson Oil and Gas Quarterly Report
Samson Oil and Gas posts a very positive report for 1Q 2011. The full report can be read at: Samson Oil and Gas Quarterly Report
Chesapeake updates.
It appears that there is some info on Chesapeake that I had not been aware of pertaining to Chesapeake assets in the Bakken. It is still not clear if the assets actually pertain to the Bakken, but it would appear that they have acquired acreage in North Dakota. I did a little research and did find information an the wells that Chesapeake currently had in the area. The most current status update was in 2002 according to the ND Oil and Gas Commission. All I can say is that I have found a new research project for the week. In the meantime readers can get more information be going to one of my favorite blogs on the Bakken at Million Dollar Way - Something Big in Bakken....
Cimarex will Announce 1Q 2011 Results
Cimarex Energy (XEC) will hold the 1Q 2011 conferenece call on May 6th at 11:00 AM.
For further information please keep the website at Cimarex Energy.
For further information please keep the website at Cimarex Energy.
Friday, April 15, 2011
Texon cheers Eagle Ford flows
Teal Ranch EFS-1H update
Texon cheers Eagle Ford flows - Upstream Online
Texon cheers Eagle Ford flows - Upstream Online
Chesapeake edges its way into the Bakken from the side
Chesapeake Energy is a major player in the horizontal drilling of shale plays in almost all US plays, except the Bakken. That might be starting to change with this latest development between Bronco Drilling and Chesapeake. With a price tag of $315 million, a deal has been made between the two companies. Bronco Drilling currently owns 22 rigs, these rigs are mostly in the Bakken and the Anadarko basin. Chesapeake may not own mineral acreage in the Bakken but one can bet that their involvement through the drilling services will be noticed in Bakken.
Chesapeake catches Bronco - Upstream Online
UPDATE: Chesapeake shows further involvement in the North Dakota.
Link is from Million Dollay Way. Chesapeake drilling in Hettinger County, ND
Chesapeake catches Bronco - Upstream Online
UPDATE: Chesapeake shows further involvement in the North Dakota.
Link is from Million Dollay Way. Chesapeake drilling in Hettinger County, ND
Oil and Gas by the Numbers 04/15/2011
Good Afternoon. It looks like oil prices are rebounding slightly today. At noon the price was $109.92/barrel for WTI.
United States Total: 1772 (down 10 this week)
TX: 779
LA: 171
OK: 170
ND: 160
PA: 102
NM: 74
CO: 72
WY: 40
CA: 41
WV: 14
MT: 11
AK: 6
ND: 25
MT: 5 new, 5 reissued
CA: 112 last report on 04/02/11
WY: 49
National Average: $3.794/gal
US Low: WY $3.504/gal
US High: HI $4.508/gal
Rig Count
updated 04/15/11
United States Total: 1772 (down 10 this week)
TX: 779
LA: 171
OK: 170
ND: 160
PA: 102
NM: 74
CO: 72
WY: 40
CA: 41
WV: 14
MT: 11
AK: 6
Permits Issued for Drilling
04/08/11 thru 04/14/11
TX: 608ND: 25
MT: 5 new, 5 reissued
CA: 112 last report on 04/02/11
WY: 49
Gasoline Prices
04/15/11
National Average: $3.794/gal
US Low: WY $3.504/gal
US High: HI $4.508/gal
Thursday, April 14, 2011
Development in Colorado, Utah, and Wyoming under the microscope again.
Obama's administration is making plans to have the BLM review, yet again, the environmental impact of development of shale play resources in Colorado, Utah, and Wyoming.
BLM review of oil shale development
BLM review of oil shale development
El Paso to develop Eagle Ford assets alone
El Paso's assets continue to exceed expectations, which has prompted them to develop them on their own. This information comes from El Paso at a time when there had been alot of joint ventures amongst other exploration/production companies with assets in the Eagle Ford.
El Paso News
El Paso News
Brigham Exploration Announces Record Numbers
Brigham Exploration has made large gains in their drilling and exploration in the Bakken field. Brigham has successfully completed 56 consecutive long lateral high frac stage wells. The average early 24 hr peak flow back rate is approximately 2884 barrels of oil equivalent. With record wells in North Dakota and Montana Brigham Exploration will be a company to keep an eye on.
Brigham Exploration Table of Operational Updates
Brigham Exploration Table of Operational Updates
Wednesday, April 13, 2011
Alta forms $1bn JV with Blackstone
This article is kind of limited in its information, but one has to imagine that some of the new leases and drilling that they propose would be in the US shale plays. Alta Energy Partners will definitely be one to watch in the future.
Alta forms $1bn JV with Blackstone - Upstream Online
Alta forms $1bn JV with Blackstone - Upstream Online
Oil rises above $121 after a two day decline
For the latest politics behind the current oil prices please click the link below.
Oil rises above $121 - Upstream Online
Oil rises above $121 - Upstream Online
SM strikes Eagle Ford transport deal
Eagle Ford Oil gets another mode of transportation. There appears to be a lot of pipeline/transportation deals in the works lately. See the link below for the deal SM has with ETC Texas Pipeline.
SM strikes Eagle Ford transport deal - Upstream Online
SM strikes Eagle Ford transport deal - Upstream Online
Anadarko signs deals to move Eagle Ford Oil
Flint Hill Resources will begin receiving Eagle Ford oil and condensate from Anadarko Petroleum. Flint Hills Resources and Harvest Pipeline also announced that they have projects in the work to improve capicity and availability to move Eagle Ford oil to Corpus Christi, TX. For all the details please see the link below.
Anadarko moving Eagle Ford Oil
Anadarko moving Eagle Ford Oil
Samson Oil and Gas Advise on Earl #1-13H Well
Fracture stimulation operations have been completed on the Earl #1-13 H, with all 20 stages pumped. The stimulation placed 2.1 million pounds of proppant. The flow back equipment will be moved from the Rodney well and operations will commence in 24 hours.
Tuesday, April 12, 2011
Delek US Holdings, Inc Announces their 1st Q conference
Delek US Holdings will hold their 1st Q conference call beginning at 11:00 am CT on Thursday, May 5, 2011. A live broadcast of the call will be available online at www.DelekUS.com.
Frac Focus Chemical Registry
With all the controversy in the oil and gas industry over fracture stimulation, I decided to post this website so anyone interested can go see more about the process and just what they use to do the procedure.
Fracture stimulation chemical listings
Fracture stimulation chemical listings
Saturday, April 9, 2011
Friday, April 8, 2011
Oil and Gas by the Numbers 04/08/2011
Good Afternoon! As I sit and listen to the news today I can't help but think too many people in DC are wanting a long vacation over Easter. However with fuel prices what they are most of us will have to be conservative. WTI rings in at noon today at $111.82/barrel. It seems that the trend is going to keep climbing. With summer coming in some parts of the US the demand should also increase to support the climbing prices. For those of you interested in where the economists think that our oil costs are going make sure to check out the link: Poll predicts 130 oil in 2011.
United States Total: 1782 (an increase of 6)
TX: 791
LA: 174
OK: 160
ND: 159
PA: 107
NM: 76
CO: 72
WY: 40
CA: 41
MT: 11
AK: 4
For more information and other state counts please check out: Baker Hughes Rig Count.
TX: 412
ND: 36
MT: 6 new, 6 reissued
CA: no new report
CO: no new report
WY: 42
US Low: WY $3.459
US High: HI $4.470
Rig Count
updated 04/08/11
United States Total: 1782 (an increase of 6)
TX: 791
LA: 174
OK: 160
ND: 159
PA: 107
NM: 76
CO: 72
WY: 40
CA: 41
MT: 11
AK: 4
For more information and other state counts please check out: Baker Hughes Rig Count.
Permits Issued for Drilling
04/01/11 thru 04/07/11
TX: 412
ND: 36
MT: 6 new, 6 reissued
CA: no new report
CO: no new report
WY: 42
Gasoline Prices
04/08/11
National Average: $3.727/galUS Low: WY $3.459
US High: HI $4.470
Devon Energy gets approval to Drill for oil in Campbell County WY
Devon Energy's Waterbuck oil well permit was just approved on 04/07/2011. This permit is issued for Campbell county WY and will target the Niobrara formation. The full report from WOGCC's website is listed below:
Devon Energy - Waterbuck
Devon Energy - Waterbuck
Poll predicts $130 oil in 2011
If the prices at the pump are not high enough to deter you yet then just wait a month or two. Experts are predicting that $150/barrel on the BRENT is a possibility for this year.
Poll predicts $130 oil in 2011 - Upstream Online
Poll predicts $130 oil in 2011 - Upstream Online
Berry slapped with $2.1m fine
Berry Petroleum faces the $2.1 million price tag for shoddy work of an employee in equalizer valve installation and as-builts.
Berry slapped with $2.1m fine - Upstream Online
Berry slapped with $2.1m fine - Upstream Online
ConocoPhillips executive warns of low Trans-Alaska Pipeline System flow
Low production and high taxes threaten the use of the Taps. With little incentive to explore and invest, one of the US's major oil resources is being under produced.
Mulva warns of low Taps flow - Upstream Online
Mulva warns of low Taps flow - Upstream Online
Thursday, April 7, 2011
Wednesday, April 6, 2011
Chesapeake marks milestone in Natural Gas conversion project
This sounds like a very economical project at a time when gasoline is moving to $4.00/gal. Chesapeake estimates that the average savings in fuel alone will be around $11 million. I haven't done the math but it looks like a win win situation. By converting 4200 vehicles to natural gas Chesapeake will set into motion several things. First pay less then a $1.50/unit of fuel is a great start. Also the market is flooded right now with natural gas so why not use it to our benefit. Then there is the feel good benefit, natural gas is a clean air fuel. With all these things in mind it is great to hear that Oklahoma has already started to provide this fuel for the public. To read more click on the link:
Chesapeake converts to Natural Gas
Chesapeake converts to Natural Gas
Tuesday, April 5, 2011
Proof Not There: Prof: Drilling, Earthquakes Not Connected
With professors from both sides of the debate now, one has to wonder the facts behind the arguement. The link below gives more light on the quest to find answers in the environmental/geological impact of gas production in the Marcellus shale formation.
Proof Not There: Prof: Drilling, Earthquakes Not Connected - News, Sports, Jobs - The Intelligencer / Wheeling News-Register
Proof Not There: Prof: Drilling, Earthquakes Not Connected - News, Sports, Jobs - The Intelligencer / Wheeling News-Register
Friday, April 1, 2011
Providence disposes of its entire Gulf of Mexico assets
In an effort to pad its capital before starting a $500 million campaign in the UK Providence lets its assest in the Gulf of Mexico go.
Providence in US Gulf exit sale - Upstream Online
Providence in US Gulf exit sale - Upstream Online
Montana State announces the Sale date for State Leases
Montana state's quarterly oil and gas lease sale is scheduled for June 7, 2011 in Helena. For a full write up on DNRC Montana's sale: Montana quarterly sale of Oil and Gas leases.
Oil and Gas by the Numbers 04/01/2011
Good Afternoon! The oil and gas industry seems to be on up swing this week. Crude prices are up, rig counts are up, permits numbers submitted are up, and of course gasoline prices are up. I have to wonder when we will see the top of the climb and settle in for a strong but steady pace that we can maintain. As of 11:30 AM the price of WTI crude was a whopping $107.55/barrel. With that in mind here are the rest of the numbers for the week:
TX: 269 (approved new drill permits)
ND: 34
MT: 2 new, 3 reissued (this is prior weeks data)
CA: nothing new released
CO: After a flurry of activity earlier this month there appears to be no new permits issued.
WY: 42
National Average: $3.611/gal
US Low: WY $3.373/gal
US High: HI $4.304/gal
Rig Count
updated 04/01/11
- United States Total: 1776 (an increase of 38 rigs from last weeks total)
- TX: 770
- LA: 175
- OK: 175
- ND: 159
- PA: 104
- NM: 78
- CO: 72
- WY: 40
- CA: 41
- MT: 11
- AK: 6
Permits Issued for Drilling
03/25/11 thru 03/31/11
TX: 269 (approved new drill permits)
ND: 34
MT: 2 new, 3 reissued (this is prior weeks data)
CA: nothing new released
CO: After a flurry of activity earlier this month there appears to be no new permits issued.
WY: 42
Gasoline Prices
04/01/11
National Average: $3.611/gal
US Low: WY $3.373/gal
US High: HI $4.304/gal
Thursday, March 31, 2011
Samson Oil and Gas closes sale of WY gas assets.
Jonah and Lookout Wash gas Assets.
Samson Oil and Gas closes sale of Wyoming assets
Samson Oil and Gas closes sale of Wyoming assets
Wednesday, March 30, 2011
Niobrara investor information
If your looking for a place to get information more specific to the Niobrara formation check out this link. I will add this link to my resources list as well so it can be easily found later on.
Niobrara Shale Blog
Niobrara Shale Blog
EOG and Chesapeake brass see Natural Gas future in different lights
Mark Papa, EOG chief executive, and Aubrey McClendon, Chesapeake chief executive, have more then a few things in common. Both lead the way in large energy companies that are making news in some of the major shale plays in the US. Both leaders have companies that handle natural gas either as the whole product or as a by-product of oil. Most importantly they both agree that the natural gas market has been oversupplied, in part due to the same shale plays in which they are both actively producing.
Still with these things in common the two executives take a very different look at the future of natural gas in the US. EOG's CEO, Mark Papa, was quoted today saying "it is "astounding" that all of his peer competitors plan to increase production." EOG however expects a drop of 5%. Chesapeake CEO, Aubrey McClendon, in turn is optimistic about natural gas prices and believes there will be a higher demand for natural gas in the near future.
To see the whole report and compare for yourself check out these links:
Chesapeake sees sunny outlook
EOG boss 'astounded' at gas dash
Still with these things in common the two executives take a very different look at the future of natural gas in the US. EOG's CEO, Mark Papa, was quoted today saying "it is "astounding" that all of his peer competitors plan to increase production." EOG however expects a drop of 5%. Chesapeake CEO, Aubrey McClendon, in turn is optimistic about natural gas prices and believes there will be a higher demand for natural gas in the near future.
To see the whole report and compare for yourself check out these links:
Chesapeake sees sunny outlook
EOG boss 'astounded' at gas dash
SAMSON OIL & GAS ADVISES ON RODNEY #1-14H
Good reports are coming from the Samson group. Please follow the link to see the most recent results of fracking the Rodney #1-14H.
Fracking complete on Samson Rodney#1-14H
Fracking complete on Samson Rodney#1-14H
Tuesday, March 29, 2011
Northern Oil and Gas Announces Plans to Move forward in Bakken
Northern Oil and Gas has acquired lease hold interest in approximately 11,000 net acres in the Windsor prospect of the Bakken. NOG along with its operating partner Slawson Exploration have begun the second well and have also contracted a dedicated frac crew for their investments.
To read further information on this newest focus for NOG and Slawson please see the link.
Northern Oil and Gas - Increased drilling in 2011
To read further information on this newest focus for NOG and Slawson please see the link.
Northern Oil and Gas - Increased drilling in 2011
Monday, March 28, 2011
Subscribe to:
Posts (Atom)