Permian acreage values are changing rapidly, frustrating those who want in and providing a windfall to incumbent operators. What some are calling an acreage valuation bubble in the Permian may be just the tip of an inflation iceberg in the play. A tsunami of capital targeting deals in the region …
Read More »Permian Preview: 2017 Capex And Production
The biggest regional contributor to the US Shale Revolt will be the Permian Basin. The Permian is the only unconventional oil play where production has not fallen in the downturn. In fact, Permian production today is up 13% since that fateful OPEC meeting two years ago. Following it’s conventional production …
Read More »Campaign Speech… Of The Drilling Variety
Our regular weekly analysis of Baker Hughes rig count statistics is below, but first some campaign speech. This weekend, we are taking a break from the political rhetoric to look at drilling campaigns. For the first time in two years, the US Independents are flexing up their drilling programs. …
Read More »EOG And Continental Are Aggressively Completing Their DUCs Now
Leading Independent E&Ps like EOG Resources and Continental Resources are moving quickly now to complete their excess drilled but uncompleted (DUC) well inventories. The recent increase in oil prices into the $45 – $50 range was the signal to complete ’em if you got ’em. In this update we review the specifics …
Read More »Alpine Lows: Controversy And Growth For Apache’s New Permian Leviathan
Shares of Apache sank 7% Thursday, closing at their lowest level since the Alpine High wet gas discovery was announced in early-September. The transformational Reeves County discovery has made Apache the darling of investors for the past several months. Here’s what’s new… There’s a lot more to this story… Login to see …
Read More »8 Interesting Things We Learned In The Past 24 Hours
It’s been a busy 24 hours. Since Wednesday morning, a dozen upstream management teams have provided business outlooks via quarterly conference calls. While drinking from this information firehose, we’ve been logging the highlights. In this post, we dissect the eight most interesting things we took away for the oilfield business at …
Read More »Anadarko Makes An Offshore Acquisition… To Fund More Onshore Drilling?
Anadarko made a big splash on Monday afternoon, announcing the $2bn buyout of Freeport McMoRan’s deepwater GOM assets. It’s a big deal for the GOM and for Anadarko’s position in the GOM. But what we found most interesting about the announcement is how Anadarko spun the deal into an onshore growth narrative. …
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