Another Summer NAPE Expo come and gone. Good times, good news, good people. Lots of shale prospects in every other booth. Traffic seemed a little slower and less over-heated than at the previous NAPE. But several people said it seemed the prospects being shown were better and the resulting talk more serious about real deal-making. Heard that at least $2 billion in fresh capital is being raised, to close by the fall, in two new private equity funds. Heard a long-time Pennsylvania oilman complain that the new shale players have "ruined it" for traditional shallow-gas leasing--for drilling the typical well to 3,000 feet in the Upper Devonian Bradford or Elk sands, that might only flow 200,000 cubic feet a day. Why would any landowner lease for $50 an acre when he hears about shale players now offering $2,000, or $20,000? "The old beat-up Appalachian Basin has changed. When was the last time anyone drilled a real oil or gas well there?" --Leslie Haines, Editor-in-chief, Oil and Gas Investor, email@example.com
2023-12-08 - U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since November 2022.
2023-12-08 - The Norwegian Petroleum Directorate outlined options for moving gas out of the Barents to market while urging exploration and investment in the frontier region.
2023-12-07 - PGS’ Ramform Sovereign is scheduled to mobilize for the survey this December.
2023-12-07 - Douglas Kris of Diversified Energy shares the firm’s approach to long-lived production while keeping an eye on the bottom line.
2023-12-06 - Exxon Mobil plans to achieve $14 billion in earnings and cash flow growth between 2024 and 2027, anchored by production growth of at least 11% amid a continued focus on high-return, low-cost-of-supply, value-accretive investments.