Topic: E+P Companies

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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U.S. Land Rigs Drop to 834

The BHI land rig count dropped -10 rigs (or -1.2%) to 834 rigs from last week's 844. The WTI crude oil price closed last week at about $60 per barrel. Oil-directed rigs dropped -12 rigs (or -1.9%) to 619 from last week's 631. Compared to this time last year, oil-directed rigs are down -58%.Summary of Shale PlaysPermian Basin -0.4% to 232 rigs, compared to last week’s 233 rigs Eagle Ford +2.8% to 110 rigs, from last week's 107 rigs Williston Basin -1.3% to...

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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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11 Rigs Idled While E&Ps Talk Uncompleted Wells

After a fairly steady week for the commodity markets, the BHI land rig count dropped -11 rigs or -1.3% to 843 rigs from last weeks 854.The Eagle Ford felt the biggest impact this week dropping -5 rigs to 105 rigs from last week’s 510 rigs, all of which were horizontal. Cana Woodford continued to release rigs falling -3 rigs to bring the count to 35 from last weeks 38 rigs. The Permian dropped -2 gas rigs while adding just +1...

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WTI Closes at $59.15 and Only 26 Rigs Idled

As the first quarter of 2015 comes to an end, WTI closed at $59.15 and the BHI land rig count dropped -26 rigs or -2.9% compared to last week.The Permian and Eagle Ford dropped a combined -13 rigs this week to land at 348 rigs which is -52.3% since the start of 2015. The Williston basin has added +1 rig to the count this week to end at 80 rigs. Gas rigs have started a slight decline after a few...

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+2.9% Increase in Gas Plays Rig Count

The BHI land rig count has slowed in the decline to only releasing -21 rigs or 2.3% compared to last week. Of the -21 rigs dropped, 20 are oil horizontal rigs. Gas plays have improved, increasing by 6 rigs compared to last week, with the addition of 2 rigs in the Haynesville play. Top losses originate from Texas, Oklahoma, and North Dakota, dropping 4.4% of their rigs compared to last week, all of which are oil rigs.Summary of PlaysPermian Basin...

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Rig Count Trends for 2015

As the Baker Hughes (NYSE: BHI) rig count continues its downward trend from the end of 2014, we look forward to the activity in 2015. Many operators are continuing to prepare for the worst in 2015 and many are front-loading activity to the first quarter of 2015 and dropping rig counts lower as the year progresses if oil prices don’t improve. Eagle Ford According to the BHI historical rig count, activity has declined 32% from the start of 2015, bringing the count...

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