Drilling activity in the San Juan Basin has surged to its highest level since 2015, fueled by a rise in natural gas prices. Analysts say deeper Mancos Shale wells with higher IPs could lift San Juan gas output by 500 MMcf/d by 2030, reshaping the legacy basin’s future.
Producers described external “chaos” and “antics” as well as “noise” and “turmoil” in trying to manage their E&Ps, according to quarterly survey results from the Dallas Federal Reserve Bank.
The net change in the U.S. horizontal rig count is seven rigs—1% —fewer than at year-end 2024, a Hart Energy analysis shows. Instead, the sub-$70 oil price has displaced rigs targeting non-shale targets.
Permitting and drilling activity has remained steady in the Bakken region, showing resilience despite market volatility and geopolitical tensions affecting commodity prices.
The oil and gas rig count rose by seven, its biggest weekly increase since December, to 544 in the week to July 18.
Drilling activity in the San Juan Basin has surged to its highest level since 2015, fueled by a rise in natural gas prices. Analysts say deeper Mancos Shale wells with higher IPs could lift San Juan gas output by 500 MMcf/d by 2030, reshaping the legacy basin’s future.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since 2020.
Producers described external “chaos” and “antics” as well as “noise” and “turmoil” in trying to manage their E&Ps, according to quarterly survey results from the Dallas Federal Reserve Bank.
The net change in the U.S. horizontal rig count is seven rigs—1% —fewer than at year-end 2024, a Hart Energy analysis shows. Instead, the sub-$70 oil price has displaced rigs targeting non-shale targets.
The oil and gas rig count fell by seven to 547 in the week to June 27. Baker Hughes said oil rigs fell by six to 432 this week, also their lowest since October 2021, while gas rigs decreased by two to 109.
Permitting and drilling activity has remained steady in the Bakken region, showing resilience despite market volatility and geopolitical tensions affecting commodity prices.
The oil and gas rig count fell by one to 554 in the week to June 20, the lowest since November 2021.
Liberty Energy CEO Ron Gusek says he sees private companies in strong financial positions adding rigs to drill while completion costs are low and then waiting for a strong price signal to move ahead on production.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021.