Shale News

    WOODMAC: WOLFCAMP CAPITAL SPEND COULD EXCEED BAKKEN BY 2017

    Wolfcamp capex is set to exceed $12 billion in 2014, or 80% of what will be spent in the Bakken according to Wood Mackenzie’s latest in a series of North American key plays analyses. Today, the Wolfcamp ranks third in tight oil spend compared to the Bakken and Eagle Ford, but could overtake the Bakken for the number two spot by as early as 2017.

    DUG Eagle Ford Exhibition Sells out for 5th Consecutive Year

    PRWEB.COM NewswireHouston, TX (PRWEB) July 29, 2014
    With more than 4,500 oil and gas professionals and 400 exhibitors set to converge at the 2014 DUG Eagle Ford conference, this year's exhibition is poised to break records for the fifth straight year. Last year, Trade Show News Network named DUG Eagle Ford one of America's top 25 fastest growing events.

    Chesapeake boosting Wyoming holdings

    Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash.

    Hiring in shale industry shifts to engineering, construction workers

    Gas companies operating in and around the Marcellus shale say they are increasingly hiring skilled workers for engineering and construction jobs as the industry matures beyond the rush to drill wells.
    The high-paying jobs accounted for 26.5 percent of new hires last year, according to a survey of member companies that the Marcellus Shale Coalition will release on Tuesday. That percentage increased from 10.8 percent in last year's survey by the North Fayette-based group.

    Chesapeake: Powder River deal, repurchasing CHK Utica shares

    OKLAHOMA CITY--(BUSINESS WIRE)--Jul. 29, 2014-- Chesapeake Energy Corporation (NYSE:CHK) announced today that it has entered into an agreement with RKI Exploration & Production, LLC (RKI) to exchange nonoperated interests in approximately 440,000 gross acres in the Powder River Basin (PRB) in southeastern Wyoming. Under the agreement Chesapeake will convey to RKI approximately 137,000 net acres and its interest in 67 gross wells, with an average working interest of 22% in the northern portion of the PRB (“Northern Area”), where RKI is currently designated operator.

    Cardinal Energy Group, Inc. Hires Dow Bowman as Its Chief Operating Officer

    DUBLIN, OH--(Marketwired - Jul 29, 2014) - Cardinal Energy Group, Inc. (OTCQB: CEGX) is pleased to announce the hiring of Dow Bowman as our new Chief Operating Officer. Mr. Bowman will be headquartered in our recently opened regional operations office in Albany, Texas.

    Marcellus Shale companies look to hire 2K employees this year

    Marcellus Shale Coalition member companies expect to hire more than 2,000 people this year, according to results of the organization’s annual year-end workforce survey.

    In polling member companies, the survey found the majority of those jobs fall into three classifications and are located more so in southwestern Pennsylvania.

    The jobs are in engineering and construction, midstream and pipeline, and operations and maintenance.

    Strata X Receives Drilling Permits

    An oil company that has been exploring for gas in an unconventional part of the state has been successful.

    Strata X received four drilling permits in Emmons and McIntosh counties last year, and were exploring for gas in the Niobrara Formation as a part of the companies Sleeping Giant Gas Project.

    In a statement the company says that three additional wells could be drilled within the project, but those wells would depend on the information gathered from one of their concept wells. The well that struck gas in Emmons County will be tested for production.

    Source: KFYR

    Corpus Christi Crude Oil Shipments Hit Record 560,000 bopd in June

    NEW YORK, July 28 (Reuters) - Crude oil shipments out of the Texas Port of Corpus Christi climbed to a record high in June as the Eagle Ford shale play pumped out ever more crude, port data showed on Monday, although outbound cargoes of condensate dipped. More than 560,000 barrels per day (bpd) of crude oil left the port, an increase of 61 percent from June 2013 and a rise of 5 percent from May's 535,000 bpd, which was the previous record high.

    Elite oil fields redefine meaning of crude's 'Big Three'

    Move over ExxonMobil, Chevron and ConocoPhillips—there's a new "Big Three" in U.S. energy production. And they're not companies.

    In a new update to its drilling productivity report from last week, the Energy Information Agency said North Dakota's Bakken and Texas' Permian Basin and Eagle Ford Shale are quietly generating more than a million barrels of oil per day each–comprising at least a third of total U.S. daily oil production. Shale oil drilling generated the equivalent of nearly 90 percent of the U.S.'s total energy needs in 2013, according to EIA figures.

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