Optimism for the dry gas sector is bubbling up like methane in a Pennsylvania spring.
Chaparral Energy is now “better positioned to compete and will look to capitalize on future opportunities with an improved financial and cost structure,” says Chuck Duginski, CEO of the Oklahoma shale driller.
U.S. oil production capacity is lower than believed, Quantum Energy Partners’ Wil VanLoh says describing it as the ‘dirty secret about shale.’
Revenue from Baker Hughes’ oilfield services unit, which accounts for nearly 46% of its total sales, fell 31% to $2.31 billion in the third quarter.
Together the projects have the potential to power more than one million U.S. homes, with BP becoming a 50% non-operating partner.
The merger of the two shale producers, both Permian Basin pure-plays, follows a growing wave of consolidation, which Enverus’ Andrew Dittmar described as a “historic winnowing of U.S.-based independent E&P companies.”
Sandy Esslemont, president and CEO of Parker Drilling, stopped by Hart Energy to discuss his new position with the international drilling service provider and outlook on the oil and gas industry as a whole.
Pioneer and Parsley, both Permian pure-plays, are discussing an all-stock deal and could be completed by the end of the month if talks don’t fall apart, a report by the Wall Street Journal said citing people familiar with the matter.
Halliburton still beat analyst estimates earning 11 cents a share versus expectations of 8 cents per share.
Concho Resources’ chairman and CEO, Tim Leach, is set to join ConocoPhillips’ board of directors and executive leadership team as executive vice president and president of Lower 48.