Shale News

    Pike County sees first TMS oil well permits

    MCCOMB, Miss. (AP) — A Texas oil company is seeking to drill the first oil wells in Pike County as part of the Tuscaloosa Marine Shale formation.

    Experts have said the formation, stretching across parts of southwest Mississippi and central and southeast Louisiana, could hold 7 billion barrels of oil. Drilling activity has stepped up this year.

    The Enterprise-Journal reports  that Houston-based Sanchez Oil & Gas Corp. has filed permits to establish drilling three units in the southwestern part of the county for oil wells.

    Goodrich Petroleum Announces Tuscaloosa Marine Shale ("TMS") Operational Update

    HOUSTON, Sept. 2, 2014 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE: GDP) today announced the completion of its Denkmann 33-28H-2 (75% WI) well in Amite County, Mississippi. The well, which was drilled with an approximate 6,000 foot lateral and was fracked with 22 stages, has achieved a peak 24-hour average production rate to date of approximately 1,250 barrels of oil equivalent ("BOE") per day, comprised of 1,200 barrels of oil and 300 Mcf of gas on a 16/64 inch choke.

    EOG Resources expects to drill 520 Eagle Ford wells in 2014

    Houston-based EOG Resources, the largest land-holder in the Eagle Ford Shale, is on pace to drill 520 wells in South Texas this year.

    Bill Thomas, chairman and CEO of EOG, said in a recent earnings call with analysts that the company in the first half of the year brought 260 new wells to sales.

    “On our last earnings call we talked about the depth and longevity of oil growth from our Eagle Ford asset. Nothing has changed in our view,” Thomas said.

    Some details of the call:

    Permian Basin adds two rigs

    The number of rigs exploring for oil and natural gas in the Permian Basin increased two this week to 557, according to the weekly rotary rig count report released Friday by Houston-based oilfield services company Baker Hughes.

    The number of rigs in District 8, which includes Midland County, increased four this week to 321.

    Texas added 12 rigs this week, totaling 900 statewide. In other Texas basins, there were 203 in the Eagle Ford, up three; 65 in the Granite Wash, down two; 46 in the Haynesville, up one; and 26 in the Barnett, unchanged.

    Pipeline project: 30-inch oil pipeline would be largest originating in N.D.

    BISMARCK — A major oil pipeline that would cross the Missouri River twice in North Dakota as it carries crude from the Bakken oilfields to Illinois faces a fight from activists in Iowa but so far has largely flown under the radar here.
     

    Energy Transfer Partners LP of Dallas says it expects to have the $3.7 billion, 1,100-mile Bakken Pipeline completed and in service by the end of 2016.

    It would be the largest crude oil pipeline originating in North Dakota, said Justin Kringstad, director of the state Pipeline Authority.

    Consol expansion will spread to Mountain State

    While its corporate focus is squarely on Western Pennsylvania's natural gas reserves for now, Consol Energy President and CEO Nick Deluliis says the company expects to spend billions in the Mountain State over the next decade.

    Though he didn't discuss specifics, Deluliis said the company looks to invest about $28 billion in West Virginia, Pennsylvania and Ohio over the next 10 years, about half of that in the Mountain State.

    Gas-Rich Marcellus Drilling Boosts Rigs to 5-Month High

    Rigs targeting natural gas in the U.S. rose to the highest level in five months after those drilling horizontally for the fuel gained in the Marcellus formation of the eastern U.S.

    North Dakota surplus continues to grow

    BISMARCK, N.D. -- A new state revenue projection released Friday says the state's general fund surplus is expected to surpass $600 million by the end of June 2015.

    “Revenues continue to look very strong,” said Pam Sharp, director of the North Dakota Office of Management and Budget. “It bodes really well for the state.”

    By June 30, the general fund surplus is estimated to be $614 million — up from $457 million estimated in February.

    US rig count up 18 in latest week to 1,914; Texas up 12

    HOUSTON - Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. increased by 18 this week to 1,914.

    The Houston firm said Friday in its weekly report that 1,575 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,776 active rigs.

    Of the major oil- and gas-producing states, Texas gained 12 rigs, Pennsylvania gained five, Oklahoma gained four and Colorado and Alaska each gained one.

    Kansas lost three rigs and Arkansas, Ohio and West Virginia each lost one.

    14 drilling permits issued for Utica play

    SALEM - Of the 14 horizontal oil and gas drilling permits issued in the Utica/Point Pleasant shale play last week, five were in Belmont County, four in Harrison County, two each in Guernsey and Noble counties and one in Jefferson County, according to the Ohio Department of Natural Resources.

    The ODNR said there were 46 drilling rigs operating in the shale play with 1,457 permits issued, 1,088 wells drilled and 549 wells producing.

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