A Marcellus Shale discovery by Southwestern Energy in West Virginia’s Ohio County plus Occidental Petroleum completes Wolfcamp producers in the Purple Sage Field top this week’s drilling activity highlights from around the world.
The production curtailment was smaller than EQT's last reduction of about 1.4 Bcfe/d of gross production on May 16 as demand destruction from the coronavirus cut prices for the fuel to a near 25-year low.
Japanese trading house Sumitomo bought a 30% stake in the project in 2010 from Rex Energy Corp., which went bankrupt in 2018. The project is now 70% owned and operated by PennEnergy Resources.
Though the oil and gas industry has not recovered since the end of the second quarter, the Permian Basin remains the most active region.
"I am not banning fracking. Let me say that again. I am not banning fracking, no matter how many times Donald Trump lies about me," Democratic presidential candidate Joe Biden said during a speech in western Pennsylvania on Aug. 31.
U.S. energy firms kept the number of oil and gas rigs operating unchanged this week with some analysts expecting producers to have shut rigs ahead of Hurricane Laura.
ConocoPhillips Alaska wildcat hits hydrocarbons plus high-volume Marcellus Shale completions by Chesapeake Energy in Pennsylvania’s Susquehanna County top this week’s drilling activity highlights from around the world.
U.S. shale producer Range Resources said it already ranks as a leader in emissions reductions among its peers, citing third-party data.