Production from major U.S. shale plays is expected to rise this month, largely driven by an anticipated increase in Permian Basin output.
The Energy Information Administration (EIA) forecasts U.S. oil output will rise 66,000 bbl/d sequentially to 8.135 million bbl/d in the seven key U.S. shale regions, with Permian volumes expected to reach 4.826 million bbl/d in October.
“On a year-over-year basis, only the Permian is expected to see an increase, with volumes up 503,150 bbl/d, or 12%,” wrote Enverus’ Erin Faulkner in a Sept. 14 research note.
On the tail of much needed production growth, asset sales in the Permian Basin have jumped as shale producers and private-equity firms seize on a sizzling recovery in oil prices to buy companies or secure new drilling prospects.
Real Insights in the Heart of the Basin
In July, Hart Energy’s DUG Permian Conference & Exhibition brought over 2,200 energy professionals together in Fort Worth for two days of valuable insights into Texas oil and gas activity. The curated program at this year’s Executive Oil Conference & Exhibition promises the same high-quality networking and in-depth business intel—right in the heart of the Permian Basin.
Set for Nov. 3-4 at the Midland County Horseshoe Arena & Pavilion, the 2021 Executive Oil Conference offers unmatched access to the region’s experienced leaders, experts and executives. There’s an optional half-day Carbon Management Forum, too—on Nov. 3.
This year’s stellar speaker roster includes a newsworthy companies and executives, including:
- Unstoppable Devon: Executive Q&A with CEO Rick Muncrief
When Devon Energy Corp. and WPX Energy Inc. merged during the 2020 downturn, they proved one plus one equals three times the value. Could this be the next E&P juggernaut?
- Occidental Petroleum, Devon Energy Earnings Impress Wall Street
Occidental Petroleum and Devon Energy blew past Wall Street’s profit expectations on Aug. 3.
- Devon Energy Declares ‘Industry-first’ Variable Cash Dividend
Devon Energy implemented a “fixed plus variable” dividend framework after closing its acquisition of WPX Energy.
- Insight: ConocoPhillips Made Shell Permian Deal with Cash, ‘Patience’
After patiently waiting through the shale land rush, ConocoPhillips is picking up prime real estate in the Permian Basin with its blockbuster purchase from Shell.
- ConocoPhillips Sees More Upside with Technology Post Concho Deal
ConocoPhillips continues to improve with refracs, simul-fracs and other technologies, says Jack Harper, former Concho exec now leading Conoco’s Permian Basin team.
- Vencer Energy Makes Debut with Acquisition of Hunt Oil’s Permian Position
Vencer Energy’s first deal since its launch by Vitol last year comprises Hunt Oil’s Midland Basin position covering 44,000 acres across the Permian in West Texas.
Aris Water Solutions (Formerly Solaris Water Midstream)
- Solaris Midstream Begins Operations at New Mexico Water Plant
Solaris Water Midstream LLC commenced operations at its newest large-scale water reuse complex in New Mexico—the Eddy State Complex—on Oct. 27.
- What Higher Gas Prices Mean for US Shale This Winter
Gas prices have rallied, but what does that mean for the North American shale market?
- Enverus President Talks Rise of ESG Investing in Oil and Gas
Manuj Nikhanj, president of Enverus, discusses why energy businesses and policymakers are doubling down on ESG investments.
- US Shale Producers Lock in Future Sales as Oil Prices Hit One-year High
U.S. shale producers’ hedges likely lock-in about 15% to 20% of production at a time, said Tom Petrie, chairman at energy investment bank Petrie Partners.
To view the agenda and register, visit ExecutiveOilConference.com.