shale oil
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Lower oil prices, increased operator focus on capital discipline, and diminishing access to capital are choking off once-soaring US oil production growth.
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The volume of flared gas in the US unconventional sector is now 12% of the country’s total gas production. A pair of new reports say that Permian Basin operators account for much of the growth.
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The time it takes for a shale producer to drill a well has been a major focus for the past decade. A new report says the industry should place equal weight on how long it takes a well to actually deliver first oil.
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Expected to close 31 October, the deal will create one of the largest pressure pumpers in the US.
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The two largest oilfield services firms grapple with a worsening North American land market.
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The company, which filed for Chapter 11 protection in June, revised downward its revenue projections amid lower expectations for the US oilfield services market and oil prices.
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The move will bolster Austin-based Parsley’s holdings in the Delaware Basin, giving it a contiguous 120,000 net acres opposite of its original Midland Basin focus area.
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EP Energy is now one of at least 200 North American exploration and production companies to have filed for bankruptcy since 2015.
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Speaking on the final day of ATCE 2019 in her home province of Alberta, Shauna Noonan unveiled the theme of her 2020 SPE presidency, “SPE Strong: Strengthen the Core.”
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The current M&A market is characterized by an increase in private capital, geographical diversity, and a variety of transaction types, including joint ventures and royalty deals.