Topic: EOG Resources

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

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...

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

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...

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Permian Part 1 of 2: Even $30 Oil Can’t Hold Back Delaware Basin Activity

Many operators turn their focus to the Permian as their “core” basin in 2015. The operators rely on the play to have the best economics to produce in this low priced environment, so we took a deeper dive into specific areas to show a more detailed view of activity. Part one of this article will go into the Delaware Basin and will be followed up with part 2 in the Midland basin next week. Stay ahead of your competitors by knowing DUCs by...

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Hess Expects $2.6B Budget for 2016

Hess Corporation Lowers Budget Guidance for 2016 Hess Corporation (NYSE: HES) ended 2015 with E&P capital and exploratory expenditures of just over $4 billion with $1.6 billion being spend on onshore U.S. activity. Onshore U.S. spending was down 36.4% from the previous year. The chart below shows the companies permit and completion activity in the Bakken over the last 2 years.Bakken Completions Increase Number of StagesHess averaged 8 rigs during 2015 starting the year with 12 and dropping that number to...

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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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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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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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