Topic: Drilling Permits

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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Weekly Permits: Weld County, CO is Focus for Niobrara Operators

Permit activity in DJ-Niobrara dropped off -24.24% from the prior week to 25 permits for the week of 2015-05-18 – 2015-05-24, compared to prior week's 33 permits. The heaviest activity was in Weld County, CO where 24 of the 25 permits were obtained compared to 33 for the prior week. The 24 permits were made up of 16 horizontal, 1 directional, and 7 unknown. The horizontal permits declined -45% from the prior week. Adams County, CO had +1 permit this week, secured by Ward...

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Permian Focus: Drilling Permits Down in Permian From Last Week

Permit activity in the Permian Basin has felt a steep decline since October 2014, correlating to the decline of completion and rig activity in the area. This past week, there were a total of 89 permits in the Permian, with 57 of them being horizontal and 27 of them being vertical (down from this past week's 107 permits). Upton County continues permit activity, as it is the top county for the week, up +6 from last week's 12 permits. Most Active Permian...

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Gas Plays Show Stability but Land Rig Declines -3.5% to 1243

The Baker Hughes US Rig Count for land rigs has declined slightly this week -3.5% to 1243 rigs with 42 of the 45 rigs released being horizontal.The Mississippian has continued to drop rigs, bringing the count down to 48 rigs this week, losing -6 rigs or -11.1% compared to last week. Of the 6 rigs dropped 5 of them were horizontal and had depths of less then 10K.The Williston Basin fell -5 rigs or -3.9% compared to last week to...

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27 Rigs down While Oil Drops 12% to $57.81

Why is OPEC cutting production? OPEC will gain relevancy again by pushing prices down below $60/barrel. At this price, several OPEC country members are below their break-even price; however, the OPEC countries likely have enough capital reserves to wait out the bottoming of the price. The two key uncertainties we see are OPEC and global demand.This downturn is much different from 2008. Many economists and traders are pointing towards gains in other areas while the Energy sector is in turmoil....

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Clearing up the Media’s Account of Drilling Activity, US Rig Count -5

To no surprise to an experienced oilfield professional, rig count dropped a few rigs this week. The decline was all oil wells. Everyone is keeping a close eye on the WTI and Brent prices to understand the impact to their business and customers.This week Permian Basin is +2 compared to previous week and +95 compared to last year at this time. Eagle Ford is -3 compared to last week and -20 compared to last year. Click here to see the interactive weekly insights...

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Rig Count Declined This Week to 1842 from 1855

Welcome back from Thanksgiving! It is time to get the last remaining items accomplished by the end of the year! If you were busy eating turkey and shopping, then you may be jolted back into the market's reality today. US onshore rig count down to 1842, -13 from last week Rig counts declined this week to 1842 from 1855 last week for US lower 48 onshore rigs.  The decline is not substantial but Friday's events in the market were a surprise for many...

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Are Rumblings of Rig Count Declines True?

Rig count remains an important indicator of oil and gas activity; however, the drops in oil prices reflect a changing dynamic in the industry. With oil prices declining, many expect to see rig count drop significantly by the end of the year. Our view is that there will likely be some leveling off this year but not a significant amount until 2015 budgets are set.This week Permian Basin is +1 compared to last week and +98 compared to last year...

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