Shale news

The new facility is part of the company’s planned expansion into the northeast (Marcellus and Utica) market.

Applied Petroleum Technology has ramped up its presence in Houston to support US operators involved with shale oil as well as companies engaged in offshore E&P in the Gulf of Mexico.

The acquisition will add 1 billion ft3/d equivalent of gas production to EQT Corp's current net production.

The transaction includes the transfer of approximately 450 000 net acres in the Fox Creek (Kaybob) and Rocky Mountain House (Willesden Green) areas, along with related infrastructure, currently producing around 30 000 boe/d from more than 270 wells.

Unless an effective COVID-19 vaccine is made available, the uncertainty in global energy demand will continue to weigh down oil prices, and delay shale industry recovery.

Rystad Energy is forecasting peak oil demand to arrive earlier and at a lower level than previously thought, leading to reduced E&P investments.

Pioneer will acquire all of the outstanding shares of Parsley in an all-stock transaction valued at approximately US$4.5 billion.

ConocoPhillips has agreed to buy US shale oil producer Concho Resources Inc for US$9.7 billion.

CNX Resources have successfully installed 27 361 ft of 5.5” 23# VA-EP-P110-NY VAtitan-TC on the Maj-12 pad in the Pennsylvania Utica Shale.

The shale company has voluntarily filed for Chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas.