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Tag Archives: rig counts

Dunn County well reveals strength of Whiting’s enhanced completions

Experimenting with enhanced well completions has Whiting Petroleum delivering 40 to 50 percent higher production from older offset wells in the Williston Basin. One of its Skunk Creek wells in South Fork field of northeast Dunn County reached an initial 24-hour production rate of 4,300 barrels of oil equivalent (BOE) per day from an enhanced completion middle Bakken well, making ...

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Top 5 Bakken stories of the week

Here the top five stories from Bakken.com for the week of May 23rd through May 29th. Enjoy! 5. Cleanup of oil spill at ND farm to take 2 more years BISMARCK, N.D. — The state Health Department says cleanup of a pipeline rupture that caused more than 20,000 barrels of crude to ooze across a northwestern North Dakota wheat field ...

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ConocoPhillips says to maintain capex for next 3 years

ConocoPhillips Chairman and CEO Lance rings the closing bell at the New York Stock Exchange

KUALA LUMPUR – ConocoPhillips expects to maintain capital expenditure for the next three years, after reducing it earlier this year due to the oil price drop, Chief Executive Ryan Lance told Reuters on Monday. The largest independent U.S. energy company, which cut its 2015 capital budget by $2 billion to $11.5 billion in January, “should hold (investment) flat for three ...

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IHS CERAWeek arrives at an uncertain point in O&G history

Could the debris from an abysmal year for the oil and gas industry be close to settling? Not likely, CNBC reports. With soaring highs in U.S. oil production partnered with OPEC and Saudi Arabian reluctance to curtail production, IHS Inc. vice chairman Daniel Yergin forecast continued price volatility: “This is a market that’s far from settled down, and it’s a ...

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Offshore projects safe from slowdown, for now

While low oil prices are causing rig stacking nationwide, offshore rig counts in the Gulf of Mexico are actually expected to rise this year. In many ways, the increase in drilling rigs predicted by Wood Mackenzie is no surprise. Offshore projects require extensive planning—a process which takes years—and billions of dollars in investments. These projects also produce much more oil, ...

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Shale producers postpone oil well completions: Kemp

pump jack

John Kemp is a Reuters market analyst. The views expressed are his own LONDON, Feb 20 – EOG Resources became the latest major shale producer to state that it would “delay a significant number of completions” when it announced fourth-quarter results. The company plans to end 2015 with 285 wells awaiting completion services, up from 200 at the end of ...

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