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Permian Basin Surpasses Gulf of Mexico
Oil production in the Permian Basin increased from 850,000 barrels of oil per day (bopd) in 2007 to 1,350,000 in 2013 according to “Rigzone”. This 60% increase is primarily attributable to new production from the Sprayberry, Wolfcamp and Bone Spring formations, and to a lesser degree incremental output from the Glorieta, Yeso and Delaware, all… Read More
Goodrich Drills Ahead in Tuscaloosa Marine Shale
Goodrich Petroleum has completed its Beech Grove 94H-1 well in East Feliciana Parish, Louisiana, according to an article in “Rigzone”. The well tested at 672 barrels of oil and 412 MCF of gas per day. The well’s 6,000 foot lateral leg was completed with 21 frac stages. Goodrich is also in the process of completing… Read More
Statoil’s Innovative Solution to Bakken Flaring Problem
The Bakken shale in North Dakota is one of the premier unconventional oil plays in the world. Unfortunately, the large size of the structure, the rapid rate of development, and the lack of infrastructure and regulatory framework have all combined to make flaring an acute and persistent problem. To put the issue in perspective, less… Read More
Breitling’s Take on NY Fracking Decision
The Marcellus shale runs underneath western New York, but the state has a six year ban on fracking which has deterred development of this resource. Local governments have passed ordinances prohibiting fracking in their jurisdictions as well. The authority of municipalities to institute such laws was challenged in a court case which went all the… Read More
Devon Sells Gas Assets to Linn
“Rigzone” reports Devon Energy Corp. is selling non-core gas properties to Linn Energy LLC for $2.3 billion. The transaction seems to make sense for both parties. Devon is continuing both an industry and company trend of selling gas assets for higher margin oil and liquids properties. Encana, Canada’s largest gas producer recently sold its interest… Read More
