Shale

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Devon Energy Gets $8 Billion Offer for Marcellus Position, Sources Say

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By David French and Shariq Khan Stone Ridge offers around $8 billion for Devon’s Marcellus shale position, sources say The Stone Ridge offer would be supported by largest ever ABS financing in US oil and gas, sources say Devon reviewing its business post-Coterra merger, prioritizing shareholder value and capital allocation Unclear whether Stone Ridge offer …

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Record-Low U.S. Shale Well Backlog Curbs Fast Output Gains Amid Export Surge

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(Reuters) – U.S. shale producers have the lowest stock of drilled-but-uncompleted wells on record, limiting their ability to move quickly to boost crude output and replace rapidly depleted oil inventories after exports and refinery processing jumped to plug the shortfall in supply caused by the U.S.-Israeli war on Iran. Producers in the United States have …

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Devon’s Permian Purchase to Extend Drilling Inventory, Cement Top Spot

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(Reuters) – U.S. shale producer Devon Energy’s $2.6 billion purchase of new acreage in the Delaware Basin will extend its drilling runway and reinforce its position as the region’s top producer, analysts said on Friday. Devon bought 16,300 net undeveloped acres in a federal lease sale this week in the Delaware part of the broader …

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Iran War Boosts US Shale Oil But Only So Much: Bousso

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(Reuters) – U.S. shale oil drillers have responded rapidly to the surge in crude prices since the start of the Iran war by ramping up production, but output gains are likely to be far more constrained than in the previous shale boom. The loss of around 13% of the world’s oil supplies due to the …

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Australia Has Big Shale Gas Advantage, Texas-Based Investor Says

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By Paul Allen and Keira Wright Australia’s vast shale gas resources give the nation an edge in the global energy sector, especially at a time when the Iran war is constraining supplies across the world, according to Texas-based investor Bryan Sheffield. The Middle East conflict, which has disrupted gas supplies and lifted prices, is pushing …

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Mideast Conflict Puts Argentina’s Vaca Muerta Shale in Focus, Analysts Say

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(Reuters) – Argentina has launched its biggest Vaca Muerta shale bid round in a decade, offering 15 exploration blocks as energy companies and importing nations seek more reliable crude supplies amid heightened Middle East tensions. The auction, run by Neuquen provincial energy company Gas y Petroleo del Neuquen (GyP), comes as concerns over disruption to …

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Occidental Scraps New Oil Hedges as Iran War Fuels Price Volatility

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(Reuters) – U.S. shale producer Occidental Petroleum will not add more oil hedges this year after volatility in crude prices following the Iran war led to lower realized prices. Speaking on a post-earnings conference call on Wednesday, Chief Financial Officer Sunil Mathew said derivative-related losses had a partial impact on Occidental’s first-quarter profit, which still …

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Owners of WildFire Energy Explore $4 Billion-Plus Sale of US Shale Operator, Sources Say

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(Reuters) – Investment firms Warburg Pincus and Kayne Anderson are exploring a potential sale of WildFire Energy, with any deal expected to value the U.S. shale operator at more than $4 billion including debt, people familiar with the matter said. The move comes at a time when crude prices have surged, with U.S. benchmark oil …

Owners of WildFire Energy Explore $4 Billion-Plus Sale of US Shale Operator, Sources Say Read More »

Occidental Reports Lower Realized Oil Prices Even as Iran Conflict Drives Up Crude Rates

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(Reuters) – Shale producer Occidental Petroleum said on Friday its worldwide average realized oil prices fell about 1.6% year-on-year in the first quarter, despite higher benchmark crude rates amid Middle East-related energy market disruption. The U.S.-Israel war on Iran has caused a massive disruption of energy supplies as the Strait of Hormuz, a conduit for …

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U.S. Shale Drillers Seen Lifting Crude Output on Hormuz-Driven Price Rally

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Oil, Shale, US News / By

It may take months to begin to see the uptick in production from shale fields in places like the Permian Basin By David Wethe and Kevin Crowley United States shale drillers are expected to follow President Donald Trump’s call for higher oil production — but not just because he said so. The 68 per cent …

U.S. Shale Drillers Seen Lifting Crude Output on Hormuz-Driven Price Rally Read More »

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