U.S. shale oil production is forecast to end 2017 at 5.6 million barrels per day (MMBPD), which is over 1 MMBPD higher than at the end of 2016. But the pace of growth in 2018 will slow down, energy consulting firm ESAI Energy said in a new report on Tuesday.
Pennsylvania-based independent oil and gas producers EQT Corporation and Rice Energy announced Monday they have entered into an estimated $8.2 billion merger agreement, in which EQT will acquire all of Rice’s upstream assets and a 92% share in its midstream assets.
The oil market is likely to balance by the first quarter of 2018 when the global inventory falls to the five-year average, Russia’s energy minister, Alexander Novak, said Sunday, as he called for a political resolution to Qatar’s diplomatic crisis.
Western Canada’s gas-rich Montney Shale is booming again. The number of wells drilled into the formation in northern Alberta and British Columbia jumped 80% in the first four months of 2017 to 277 from a year earlier, reported Grobes Media’s BOE Report.
A major developer of natural gas-fired power plants in Ohio is fighting a plan by Ohio lawmakers to provide a $610 million a year subsidy to electric utilities with aging, uneconomical nuclear and coal-fired power plants.
The UK onshore oil and gas industry trade body, UKOOG, said Monday the current political situation regarding Qatar and its Middle Eastern neighbors shows why the UK needs to “urgently get on with developing the extensive gas resource beneath our feet.”
The Federal Energy Regulatory Commission has rejected a request by Energy Transfer Partners' Rover Pipeline unit to resume horizontal drilling at two sites, further pressuring the operator's efforts to meet its July 1 in-service target for the first phase of the 3.25 billion cubic feet per day capacity pipeline.
In a bid to boost investment in its vast unconventional reserves in the Vaca Muerta play, the Argentinean government will reduce the import tariff on used oil and gas exploration and drilling equipment, Kallanish Energy learns.
An uptick in U.S. natural gas supply over the next year or so will be balanced by a corresponding uptick in demand, leading to relative stability in the U.S. drilling sector, Kallanish Energy sister publication Kallanish learns from BTU Analytics managing partner Kathryn Downey Miller.