Drilling Activity

EOG Resources, Marathon, and Statoil Dominate Karnes County in Eagle Ford Shale

By Brandon Waiter Jul 25, 2016 10:39 AMDrilling Activity

Karnes county, located in the Eagle Ford, just southeast of San Antonio is the most active county in the play. In this core acreage there are 8 rigs running operated by H&P, Nabors and Patterson-UTI. All of these rigs are drilling horizontal wells for Marathon, EOG Resources, Statoil and Encana. The map below shows the activity in the past month in the county, with the blue pines being permits and the green being completions.Permit Activity Remains Steady in 2016 Permit activity...

Grady County (OK): Spotty Completion Activity with Permitting Holding Steady

By Brandon Waiter May 09, 2016 3:45 PMDrilling Activity

Oklahoma currently holds the second largest concentration of rigs in the U.S. according to the BHI Land Rig Count. So where is the activity coming from? Grady county in the SCOOP has 14 completions since the start of the year. Permitting has fallen since commodity prices to a dive but they have recently leveled off going into 2016. Drilling Activity Doesn't Equate to Well Completions In he first four months of 2016 there have been under 100 completions compared to over 750 during the...

Reeves County: Permitting Cut in Half & Completions Continue to Fall

By Brandon Waiter Apr 27, 2016 3:10 PMDrilling Activity

Activity has migrated into the Permian due to some of the lowest breakeven points in the industry but that doesn’t mean new drilling activity has held up. Reeves county has taken a hit with lower well completion activity, too, in this sub $50 commodity environment. Even with reported breakeven prices around $35 per barrel, operators continue to release rigs.Since the start of 2016 it has had 13 completions from operators like EOG Resources (NYSE: EOG), Pioneer Natural Resources (NYSE: PXD) and Apache (NYSE: APA), down...

A Look into Dunn County (ND): Permitting Drops to Zero and C&J Gains Market Share

By Brandon Waiter Mar 21, 2016 4:09 PMDrilling Activity, Insights

Drilling deeper into activity in North Dakota we take a look at how Dunn county has tolerated the oil price slump. Operators like ConocoPhillips (NYSE: COP), Marathon (NYSE: MRO), HRC Operating, and ExxonMobil (NYSE: XOM) are still active. Since the start of the year, there have been few completions with 9 in January and only one in February.Permitting Tumbles to Zero Permit activity has slowed from a peak of 51 permits in October of 2014 to most recently 16 in the...

Haynesville Permits Increase 81% in September Over August Activity

By Brandon Waiter Oct 13, 2015 11:30 AMDrilling Activity

During the month of September there were 67 permits issued in the Haynesville. This was almost doubled compared to August which had 37 permits issued and closed the month out with 26 rigs running according the the BHI land rig count. At this time last year, there were 15 permits and 43 rigs in the Haynesville.The top permitting county this past week was Red River which issued 2 permits to Vine Oil & Gas. The most active week in September was...

Horizontal Rigs Decline -2.9%

By Brandon Waiter Oct 06, 2015 9:48 AMDrilling Activity

The total US Land Rig count was down -23, -2.9% last week with -18 horizontal rigs released. The horizontal rig count dropped to 598, -55% change compared October 2014.More discussions this week about the fall redetermination period. Each spring and fall, banks that lend to oil and gas companies do what's called a "redetermination." The banks calculate how much oil & gas companies can borrow based on reserves, commodity prices, and what the company has hedged.The redetermination conversations will be less about...

US Land Rigs Falls Below 800

By Todd Bush Sep 22, 2015 8:38 AMDrilling Activity

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...

Permian: Operators Prepare for 2nd Half of Year with New Drilling Permits

By Brandon Waiter Aug 30, 2015 11:02 PMDrilling Activity

The month of August has seen oil prices continue to slide to six year lows dropping into the low $38 range which hasn’t happened since February 2009. Land rig counts as well as permit activity declined too. The Permian had a total of 142 permits issued during the week of the 21st (20150821) this is down -209% from the same week last year which had 439 permits issued.Midland, Lea, and Eddy are Strongest Counties in August The top permitting week in...