Topic: Reeves County TX

Ask-the-Analyst April 2019

Tuesday 4/30Ask-the-Analyst: Todd Bush, Boyd Skelton, and Luke Smith. What would an acquisition of Anadarko Petroleum Corporation by Oxy or Chevron look like for the #Permian basin? #OilandGas #Energy #shaleIf either Oxy or Chevron acquired Anadarko Petroleum Corporation, they would become the second largest proppant user in the Permian basin (based on 2018 data). Pioneer Natural Resources Company would still remain the largest user by 1 billion pounds, but Oxy would become the largest operator by number of fracs.Thursday 4/25Ask-the-Analyst: Todd Bush,...

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E&P Earning Season Ends with DUCs, Bankruptcy, & Divesting Themes

Taking a look back at the first quarter we will review some updates from operators around the country and how they have held up into 2016 and are preparing for the rest of the year. Many have increase production guidance showing that they can still produce with declining capital budgets and others are looking to asset sales to gain liquidity. Below are some highlights from the quarter. Devon Energy Increases Production Guidance During the first quarter Devon Energy (NYSE: DVN) spent $363...

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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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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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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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Rig Count Declines -3.8% along with Oilfield Businesses

The Baker Hughes US Land Rig Count declined to 1196, down -3.8% this week. WTI fluctuated this week and ended just below $50 per barrel. Here's a summary chart for the week:Summary of Shale Play Rig CountsPermian Basin -1.9% to 355 rigs compared to last week’s 362 rigs Eagle Ford -1.9% losing -3 rigs to 157 rigs compared to 160 the prior week Williston Basin -12 rigs to 111, down -9.8% compared to last week’s 123 rigs Mississippian -2.1% bringing the count down to 47 active...

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