Shale news

Sanchez Energy Corporation has announced that it has entered into a definitive agreement to sell its Javelina asset in the Eagle Ford Shale for approximately US$105 million in cash.

Professor John Underhill, Chief Scientist at Heriot-Watt University, revealed that while opponents of hydraulic fracturing continue to focus on the environmental impact of this method of oil and gas extraction, the geology of the UK doesn’t support it.

Publicly traded E&Ps and service companies are entering a Q2 earnings season anticipating a slowdown across the unconventional plays.

This includes a 41% increase in estimated development gas well completions and a dramatic 81% increase in total estimated oil well completions from year-ago levels.

The new facility will be capable of producing up to 5 million t of regional sand per year and will serve as another channel by which the company will service the evolving dynamics of the oil and gas industry.

McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight and support to the global energy industry, has released its North American Shale Oil Outlook.

The global land drilling rig market has been through a tough downturn characterised by an inward focus through the supply chain on survival.

Looking at the recent evolution of oil production in the Lower 48 states (excl. Gulf of Mexico), Rystad Energy observes a continuous expansion, with a 430 000 bpd growth from December 2016 to May 2017.

Total has sanctioned the development of the first phase of the operated Aguada Pichana Este license in the giant Vaca Muerta shale play in Argentina. Moreover, the Group will also increase its interest in the license from 27.27% to 41%.

Oil prices are unlikely to rebound significantly from current levels, with a glut of supply and increasingly advanced methods of extraction set to keep the commodity’s price lower for longer, according to Stephen Jones, CIO at Kames Capital.