oilfield insights

CLR enhanced completions

Contintental Resources Stays the Course in Bakken & SCOOP

Like many other Bakken E&P's, Continental Resources (NYSE: CLR) activity slowed in the second half of 2015.The company will continue to invest in Bakken and SCOOP, but do not expect Continental's production growth to continue as the company plans to release rigs in Bakken and SCOOP. The chart below shows drilling permits and completions for the Bakken, Continental's key asset. Source: Energent Group Bakken: Enhanced Completions Improve EURCurrent well costs are down 27% to $7 million per well Decrease in drilling daysReduction of...

Read More

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...

Read More

Increasing Pad Density in Eagle Ford

Operators regularly report that they are gaining efficiencies and saving CAPEX by increasing the number of wells per pad. This impacts all areas of the supply chain and further decouples the notion of “one sale, one well” for oilfield service companies.The following charts illustrate the increase in the well density per pad by the year the wells are permitted.Key highlights include the following:Shift in 2-well pads making up almost 50% of the multi-well pads in 2011 to below 25% in...

Read More

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...

Read More

Haynesville Permits Increase 81% in September Over August 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...

Read More

Horizontal Rigs Decline -2.9%

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...

Read More

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...

Read More

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...

Read More