Author: Todd Bush

EOG Resources Poised for Long Term Success

One of the largest independent exploration and production companies in the United States, EOG Resources (NYSE: EOG), is an operator that many look to in the current environment to model their well designs and cost saving techniques. The operator is seeing similar returns in parts of the Eagle Ford as they were in 2012 with oil being $35 dollars less and has more then doubled returns in the Permian at $60 compared to $95 in 2012.EOG Resources's  capital plan of $4.7 to...

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7 E&Ps Fighting Through 2015 Low Commodity Prices

As third quarter earnings season starts we take a look at where some operators are in their drilling and completion programs and begin to get a peak at 2016 expectations. Check back for updates as operators and oilfield service companies update their positions in the current environment.  Antero Resources Expects 25% Production Growth Antero Resources (NYSE: AR) continues to cover production with 94% covered for the 2015 year and looking ahead to 2016 they expect 25% to 30% production growth having 1,793...

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US Land Rigs Falls Below 800

Permian Remains Strong while Bakken & EF Decline The first two weeks in September brought some stability to crude prices with WTI between $43 and $47 so far this month. Rig counts in Permian Basin and areas in Oklahoma remained constant (or a bit positive) this week. Permian accounts for 32% of the US Land rig count. Oklahoma stayed at 106 rigs this week, no change from last week.An article on Bloomberg showed the high debt operators that may be at risk going into...

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Refracs: Haynesville Players Show Results

Much has been said about the potential of restimulating or refracturing horizontal wells. E&P's and Oilfield service companies have discussed refractures (refracs) in terms of opportunities. E&Ps view refracturing as a way to increase production of existing assets, as long as the equipment and technology is proven. Oilfield service companies are developing and modifying downhole tools to refracture horizontal shale wells. The first play in the refrac in-depth series is Haynesville. The refrac series will also cover Bakken, Barnett, Niobrara, Eagle Ford, and...

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Bakken Operators Drilling & Completing, but Only in Core Areas

Since the start of 2015, there have been 1116 permits issued in the Bakken shale play, with a monthly high coming in January at 238 permits issued. This past week, there were 29 permits issued, a -53% decrease from the previous week which had 62 permits. The top permitting county this past week was McKenzie with 14 permits, down -26% from the prior week, which had 19 permits. Other active counties include Mountrail with 6 permits, Williams with 5 permits, and Divide with...

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Eagle Ford: Top Shale Operators Issue New Drilling Permits

Drilling Permits Down -16.9% as Dimmit Increases and DeWitt Falls This past week, permits in the Eagle Ford fell 16.9% to 49, compared to the previous week's 59 permits. Decreasing activity this past week in De Witt only yielded 11 permits, compared to the previous week's 21 permits. County permitting continued in counties like La Salle and McMullen, with 7 permits a week for the last two weeks, and Frio County, which had 3 permits for each of the last two...

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U.S. Land Rigs Drop to 834

The BHI land rig count dropped -10 rigs (or -1.2%) to 834 rigs from last week's 844. The WTI crude oil price closed last week at about $60 per barrel. Oil-directed rigs dropped -12 rigs (or -1.9%) to 619 from last week's 631. Compared to this time last year, oil-directed rigs are down -58%.Summary of Shale PlaysPermian Basin -0.4% to 232 rigs, compared to last week’s 233 rigs Eagle Ford +2.8% to 110 rigs, from last week's 107 rigs Williston Basin -1.3% to...

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Less Volatility and +0.4% More Rigs This Week

The Baker Hughes (BHI) US land rig count improved this week by adding 3 rigs, bringing the count to 844 rigs from last week's 841 rigs (a 0.4% increase). For the week, -2 horizontal rigs were dropped while +4 vertical rigs and +1 directional rig were added. Fayetteville saw the most action, adding +2 rigs and bringing the count to 8 rigs from last week's 6 rigs. There was also activity in the miscellaneous category adding +6 rigs, half of which were horizontal and...

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