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Tag Archives: Permian

Encana posts surprise operating profit as costs fall

Encana Corp , Canada’s largest natural gas producer, posted a surprise quarterly operating profit as investments in technology to lower well costs and increase production begin paying off. Encana has been diversifying into oil production and has invested heavily in technology and drilling techniques, such as applying simultaneous drilling and completions operations on wells, to drive greater productivity and cost ...

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Stacked rigs and their impact on oil prices

Although the dramatic drop in U.S. rig count alleviated the oil price decline, global investment firm Goldman Sachs said it probably won’t lead to a slowdown in production or help with oversupply. According to a report by CNBC, earlier this week the firm stated in a note that “the decline in the U.S. rig count likely remains well short of ...

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Hamm: “Oil prices could rebound faster than expected”

Despite the many recent non business-related headlines about him over the past month, folks within the oil and gas industry should still respect what Harold Hamm has to say. The Continental Resources CEO said Wednesday that he believes “the market doesn’t understand just how quickly oil companies are scaling back their activities, and as a result, oil prices could rebound ...

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Global oil and gas exploration spending to slide 17 pct

HOUSTON, Jan 7 – The world’s oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company released on Wednesday. The survey, based on an average oil price of $70 per barrel, estimates that global ...

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Arctic blast grips Northern New Mexico

As a blast of Arctic air punched south across New Mexico on Monday, sending temperatures below freezing, Deborah Tang worried about anyone who lacked shelter for the night. “It is not safe to be out at night in these temperatures,” said Tang, director of the full-to-capacity St. Elizabeth Shelter. “It doesn’t matter how many sleeping bags you have. I hope ...

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2014’s Booms, Bans and Busts no. 1: Production milestones and the move for energy independence

For the past couple of weeks, Shale Plays Media has been recapping the biggest topics of 2014. From carbon emissions regulations to exports, we’ve covered it all. But there’s one topic that’s missing, which brings us to our final story: The United States officially became the #1 oil producer on the globe in 2014. Energy independence has been a weighty ...

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Petroleum production prospers in November

Petroleum demand in November produced some of the highest numbers seen in years, according to the American Petroleum Institute’s monthly statistical report. The report, published Thursday, reveals a number of different categories. Those categories range from macroeconomic indicators such as rig counts, Institute for Supply Management reports and indicators of petroleum demand including total deliveries, gasoline, distillates, and jet fuel. ...

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Encana to focus on four separate shale-growth plays in 2015

Encana announced Tuesday its “highly focused” 2015 capital program in which the company plans to spend between $2.7 and $2.9 billion, with approximately 80 percent of it directed to four of its highest margin growth plays. Those growth plays include the Montney, Duvernay, Eagle Ford and Permian. Encana also says they plan to deliver an approximate 70 percent year-over-year growth ...

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