Shale/Unconventional News

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Report Pegs Delaware Basin Drilling Cost at $33
Thursday, December 03, 2020The oil price needed to profitably drill a shale well has fallen by almost a fifth since last year, but that may not be enough to revive production, according to a new report.

Chevron Earmarks $2B for Permian in 2021
Thursday, December 03, 2020Chevron announced a $14 billion capital and exploratory budget for next year.

Conoco Warns of 500 Houston Job Cuts
Wednesday, December 02, 2020ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc.

Exxon Faces Historic Writedown
Tuesday, December 01, 2020Exxon Mobil Corp. is about to incur the biggest writedown in its modern history.

Natural Gas Helps to Shrink Energy Poverty Gap
Friday, November 27, 2020A recent industry report finds that natural gas can help to mitigate energy poverty in the United States.

Texas Upstream Job Count Rises Again
Wednesday, November 25, 2020Texas' upstream oil and gas sector added jobs for the second month in a row in October, TXOGA reported Tuesday.

NOV and NexTier to Test Electric Frac Prototype
Thursday, November 19, 2020The companies will jointly field-test a prototype of NOV's electric fracturing system.

Ovintiv Criticized Over 'Excessive' Pay
Wednesday, November 18, 2020Activist investor Kimmeridge Energy Management Co. has built new positions in Ovintiv Inc., PDC Energy Inc., and Cimarex Energy Co. and plans to push for changes at the oil and gas companies.

Gulfport Energy Files Chapter 11 Bankruptcy
Monday, November 16, 2020Gulfport Energy filed for bankruptcy, joining a slew of US oil and gas companies that are collapsing after the pandemic deepened their struggle with low prices and too much debt.

Violently Positive Oil Prices and More
Saturday, November 14, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Permian Drilling Rights Price Falls Nearly 70%
Thursday, November 12, 2020The price to drill an acre of land in the biggest US shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions.

EQT May Seek More Shale Deals After Chevron
Wednesday, November 11, 2020EQT Corp. indicated it's not done yet with driving consolidation in the fragmented Appalachian natural gas industry.

Oxy Pivots to Net Zero Path
Wednesday, November 11, 2020Occidental Petroleum Corp. became the first major US oil producer to aim for net zero emissions from everything it extracts and sells.

Texas Takes Action to Reduce Gas Flaring
Tuesday, November 10, 2020Texas's oil regulator took action to reduce routine natural gas flaring but its efforts fall short of more aggressive measures requested by some investors and major producers.

Consequences of a Biden Admin for US Energy
Monday, November 09, 2020A change of federal government would have several consequences for the U.S. energy industry, according to energy research and consultancy company Wood Mackenzie.

Hamm Sees Backstop in Congress if Biden Takes White House
Friday, November 06, 2020Oilman Harold Hamm, a Trump confidant, said he's waiting for all legal votes to be counted.

Texas Oil Groups React to TXRRC Vote
Thursday, November 05, 2020The Texas Oil and Gas Association and the Texas Independent Producers & Royalty Owners Association have both released comments following Jim Wright's election to the Texas Railroad Commission.

Has the Texas Upstream Slump Bottomed Out?
Wednesday, November 04, 2020The TPI tracks metrics such as price, rig count, drilling permits, well completions and employment.

Schlumberger Divests Rod Lift Business
Monday, November 02, 2020Lufkin Industries has acquired the Schlumberger N.V. unit North American Land Rod Lift Business.

Trump Signs Fracking Memo
Monday, November 02, 2020President Donald Trump signed a symbolic memo in support of the fracking sector during a four-rally swing through Pennsylvania.

CVX in $735MM Shale Deal and More
Saturday, October 31, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

XOM Warns of $30B Shale Writedown
Friday, October 30, 2020Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields after posting a historic loss despite sweeping budget and job cuts.

Who Controls the Permian?
Thursday, October 29, 2020There's been an ongoing pendulum swing between majors and independents as the controlling group of the Permian basin's destiny for many years, but who controls the region now?

Pipeline CEO Sees Signal for Higher Oil Prices
Wednesday, October 28, 2020The recovery in demand coupled with US shale retrenchment could lead to higher oil prices as soon as in the second half of 2021, according to a top US pipeline exec.

Austin Chalk Player to Drill Another Well This Year
Wednesday, October 28, 2020This Sept. 12, 2020, photo shows the Chalk Talk ‘B’ #3H well in Gonzales, Texas. PHOTO SOURCE: Business Wire

Transocean Gets NYSE Notice and More
Saturday, October 24, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Biden Says Renewables Need to Replace Oil Industry
Friday, October 23, 2020Two Democrats in toss-up races distanced themselves from Biden's comments.

North America Oil Bankruptcy Debt Hits All Time High
Friday, October 23, 2020The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high, according to Rystad Energy.

Argentina Unveils $5.1B Subsidy to Lure Shale Drillers
Thursday, October 22, 2020Argentina's cash-strapped government says it can find $5.1 billion to give to natural gas drillers in a bid to resuscitate Vaca Muerta.

Shale Deal Must Navigate Potential Conflict
Wednesday, October 21, 2020The latest merger between two U.S. shale producers is dealing with an unusual family dynamic that has raised concerns about a potential conflict of interest.

Another Permian Operator Sale May Be Underway
Tuesday, October 20, 2020Pioneer Natural Resources Co. is in talks to buy rival U.S. shale driller Parsley Energy Inc., according to a person familiar with the matter.

Modest Deals Reflect Slide for US Shale
Tuesday, October 20, 2020There is no more dramatic sign of the US shale industry's fall from grace than one of the best in the business being sold off for less than a third of its peak value.

ConocoPhillips-Concho Deal Reaction
Tuesday, October 20, 2020Wood Mackenzie has described the $9.7 billion deal as 'remarkable'.

Could Gas Be the New Coal Under Biden?
Monday, October 19, 2020Biden contends he would not ban hydraulic fracturing, but his energy plan aims to edge natural gas out of the power mix.

Halliburton Sees Signs of Rebirth
Monday, October 19, 2020Halliburton expects the rout in North American shale to peter out after history's worst crude crash decimated many of its customers.

Union Bosses and AOC Reflect Energy Clash on Team Biden
Wednesday, October 07, 2020Here's a guide to the people who'll be jockeying for influence on climate policy come Jan. 2021 if Joe Biden wins the White House.

Centurion Sets Service Date for Permian Pipeline
Wednesday, October 07, 2020The oil pipeline will run from Midland to Crane, Texas.

Permian Jewel Preps for Biden And More
Saturday, October 03, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Range Makes Ethane Supply Deal for Appalachia Plant
Wednesday, September 30, 2020Range Resources has signed a deal to become an anchor ethane supplier for a proposed ethylene cracker in Ohio.

TIPRO Appoints New Chairman
Tuesday, September 29, 2020The Texas Independent Producers & Royalty Owners Association has revealed that Brent Hopkins has become the organization's new chairman of the board of directors.

Bieber Highlights Oil Pain and More
Saturday, September 26, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Permian Crown Jewel Preps for Biden Ban
Friday, September 25, 2020The Permian in New Mexico, unlike in Texas, lies largely on federal land.

Signs Show Possible Onshore Uptick for 2021
Friday, September 25, 2020Rigzone panelists offer their insights on the top oil market hits and misses for the week ending Sept. 25, 2020.

Gas Bulls Eye Winter Rally
Wednesday, September 23, 2020After benchmark US natural gas prices tumbled 22% in the past week, you could be forgiven for thinking that traders would be gloomy.

Justin Bieber Highlights Oil Pain
Wednesday, September 23, 2020Justin Bieber, one of the world's best-selling music artists, has highlighted the pain of oil industry layoffs in his latest music video.

Frac Sand Metric Declines
Friday, September 11, 2020Shale firms are pumping an average of roughly 2.9 million pounds a day of frac sand this quarter, according to Coras Research LLC.

BP and Shell Call on Texas to End Routine Flaring
Friday, September 11, 2020The Railroad Commission of Texas is considering requiring operators to disclose more data when they apply for flaring permits and issuing them for shorter periods.

Permian in for Prosperous and Bright Future
Friday, September 11, 2020The Permian Basin's future is prosperous and bright, according to the Permian Strategic Partnership.

Shale Hits Turning Point and More
Saturday, September 05, 2020Here are some more of Rigzone's top upstream stories during the last week, just in case you missed them...

Big Fund Managers Urge Texas to Ban Most Flaring
Friday, September 04, 2020They argue the energy industry hasn't moved quickly enough to curb flaring.