Archive for the ‘Eagle Ford’ Category

The Texas upstream oil and gas economy contracted in November for the 24th consecutive month, according to the Texas Alliance of Energy Producers’ Texas Petro Index (TPI).

A subsidiary of Venado Oil & Gas LLC, an Austin-based affiliate of private equity firm KKR & Co. LP, has agreed to acquire nonoperated Eagle Ford assets owned by SM Energy Co., Denver, for $800 million.

US onshore rig contractor Patterson-UTI Energy Inc. has agreed to acquire wellsite services and equipment provider Seventy Seven Energy Inc. in an all-stock deal valued at $1.76 billion including debt.

Crude oil and natural gas output from the seven major onshore producing regions in the US is expected to begin 2017 with a modest increase, according to data from the US Energy Information Administration.

A recent surge in the US rig count has included double-digit increases in 7 of the last 12 weeks.

US onshore rig contractor Patterson-UTI Energy Inc. has agreed to acquire wellsite services and equipment provider Seventy Seven Energy Inc. in an all-stock deal valued at $1.76 billion including debt.

Crude oil and natural gas output from the seven major producing regions in the US is expected to begin 2017 with a modest increase, according to data from the US Energy Information Administration.

The US rig count has recorded an increase of 20 or more units twice in the last 4 weeks, accelerating a drilling rebound that spans more than 6 months.

The most attractive oil region in the US and perhaps the world has added more than 100 active rigs since last spring.

A near 2-year-long contraction of the Texas oil and gas industry economy now dwindles as higher wellhead prices have revived the state’s drilling and permitting activity.