oilfield insights

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

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...

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BHI Land Rig Count Climbs +2.1%, Adding +17 Oil Rigs

WTI crude continued its slump in July, entering the month at $56.96 and hovering just above $48 today. In a change of pace this week, the BHI land rig count jumped +2.1% to 830 rigs, from the past week's 813 rigs.Image Source: Bloomberg.com Oil rigs were the driving factor this week, adding +17 rigs, while gas rigs stayed flat at 206 rigs. Operators are expected to react to the recent price slump in their Q2 earnings reports and meetings over the next...

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Oil Rigs Fall -0.8% After 2 Weeks of Improvement 

The BHI land rig count decreased -0.5% to 813, with oil rigs dropping -5 and gas rigs improving by +1 over the previous week. The Permian continues to improve, adding +3 rigs for the week, bringing the count to 242. Granite Wash added +2 oil rigs after 2 weeks of holding steady at 15 rigs. In the Eagle Ford, rig activity continued to decline this month, releasing -4 rigs this week (or -3,9%), after having a strong first week in July. Gas...

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Permian: Midland & Crockett are Top Counties for Drilling Permits

The week of July 17th drilling permit activity was down -34%, with 65 permits issued. The top counties were Midland and Crockett. Both counties had 0 permits issued the week prior. Rig activity in the Permian showed positive signs, with rigs increasing +3 this week.The chart below shows the decline in activity this year compared to the same week at this time last year, which had 235 permits during the week. Core Permian Counties The top 5 permitting counties from last week (2015-07-10), which include Reeves, Lea,...

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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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Eaglebine: Anadarko Completing Wells & Improving Performance

The concentration this week is in the Eaglebine area in East Texas, which includes the counties of Brazos, Burleson, Grimes, Houston, Lee, Leon, Madison, Milam, Robertson, and Walker. In the month of May, there were a total of 26 permits issued, with top permitting counties being Madison, with 8, and Burleson, with 5. There were 0 permits issued during the first week of June, although activity resumed this past week with 6 total permits. 2 of those were in Milam and...

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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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Horizontal Rigs Stay Flat While Vertical Rigs Drop -10.1%

The BHI land rig count declined -0.8% to 827 rigs from last week's 834. The decline this week stems from the vertical rig count, which dropped 11 rigs or -10.1% from last week's 109 rigs. The horizontal rig count stayed flat at 666 rigs and the directional rig count jumped +4 rigs to 63 from last week's 59. The Eagle Ford sank this week by -7 rigs, 4 of which were oil rigs and 3 were gas. Basins with one...

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