From E&P Executive Editor: Altered Reality

Like life, the energy industry’s digital transformation is moving pretty fast.

May 22, 2020
From E&P Executive Editor: Altered reality

North American Oil, Gas Rig Count Falls to Record Lows

The U.S. rig count, an early indicator of future output, fell by 21 to a record low 318 in the week to May 22, according to data from energy services firm Baker Hughes Co.

May 22, 2020

Sustained Outperformance Needed from Public E&Ps

Before the coronavirus pandemic and the oil price war, public investors had already thrown down the gauntlet to E&Ps. Companies, arguably, were learning to adapt, and they must keep doing so to access public capital in the new environment.

May 22, 2020
Public Capital

Marketed: Merit Energy 190-well Package Across Multiple Oklahoma Counties

Merit Management Partners IV LP retained EnergyNet for the sale of a 190-well package across Oklahoma's Dewey, Ellis, Roger Mills and Woodward counties through an auction closing June 10.

May 22, 2020

OPINION: US Oil Stocks Stabilize as Industry Adapts to Shock

Excess crude inventories are easing, with refined fuel stocks taking longer as consumption lags.

May 22, 2020
tanks

Born in the Bakken

U.S. tight rock oil production exceeded 9 million barrels per day in March, according to the U.S. Energy Information Administration. The story began 20 years ago in Richland County, Mont., with a prospector, two wildcatters, Halliburton and a bold venture: land a lateral in the middle Bakken—and frac it.

May 22, 2020
Burning Tree State Pumpjack

CNOOC Launches Combined Penglai Oilfield Project with Partner ConocoPhillips

The offshore development is in China's Bohai Bay and is expected to reach peak production of 15,681 bbl/d of crude oil in 2022.

May 22, 2020

US Energy Regulators Authorize Proposed $43.4 Billion Alaska LNG Project

BP and Exxon Mobil produce massive amounts of oil in Alaska and have discovered huge gas resources that are stranded in the North Slope, which the proposed LNG project would allow that gas to access markets around the world.

May 22, 2020

Best of This Week’s Drilling Activity Highlights (May 21, 2020)

A record Wolfcamp Shale producer completed by EOG Resources in the Permian Basin plus two Haynesville Shale completions in Louisiana’s Bossier Parish top this week’s drilling activity highlights from around the world.

May 21, 2020
Best of This Week’s Drilling Activity Highlights (May 15, 2020)

ConocoPhillips CFO to Retire in August after Nearly 40-year Career

In conjunction with the retirement of CFO Don E. Wallette Jr., ConocoPhillips also said William (Bill) L. Bullock Jr. had been named as Wallette’s replacement.

May 21, 2020

Kayne Anderson Reportedly to Consolidate Energy PE Teams, Chuck Yates to Leave

Kayne Anderson will consolidate its two energy private equity teams and one of the managing partners, Chuck Yates, will exit the firm, a source familiar with the matter told Reuters.

May 21, 2020

US Cuts Royalties for Hard-hit Oil, Gas Drillers

The U.S. Bureau of Land Management (BLM) approved royalty rate cuts on at least 76 federal drilling leases in the state of Utah in recent weeks, according to the database.

May 21, 2020