Drill bit with unique concave-shaped cutting elements reduces drilling costs, improves overall drilling performance.
Here’s a snapshot of recent energy deals including the $735 million purchase of Chevron’s Appalachia assets by EQT plus a Laredo Petroleum Permian Basin asset acquisition.
EQT CEO Toby Rice described the Chevron acquisition as a natural bolt-on extension of EQT’s dominant position in the core of the southwest Marcellus in the Appalachian Basin.
The rig count slowly increased by nine new rigs this past week with increases in the Rockies and Permian Basin.
EQT had recently sent a takeover proposal to rival CNX Resources, a report said, adding that no final decision has been made.
Check out the latest oil and gas drilling activity highlights across the U.S. featured in the October issue of E&P Plus including Chesapeake Energy Marcellus Shale discoveries plus a Wolfcamp well tested by Occidental Petroleum in New Mexico’s Eddy County.
Rig count is up 13% in the last month. The most significant weekly rig increases by major basin were in the Permian (up four to 129), Gulf Coast (up four to 31) and Appalachia (up three to 35).
A Bone Spring discovery by WPX Energy within the Permian Basin in Loving County, Texas, plus EOG Resources’ horizontal Wolfcamp Shale producers from a Phantom Field wellpad top this week’s drilling activity highlights from around the world.