Comprehensive Energy Data Intelligence

Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...

7th-week-of-Oil-and-Gas-Rigs-Growth

In the midst of the high prices and the U.S. government’s pushing, in the last week, the number of oil rigs increased by 5 and in total makes 557, its highest since April 2020, according to Baker Hughes Co BKR.N. Concerning the gas rigs, they gained 2 to 146, their highest since September 2019. 

However, most shale producers preferred shareholder returns over new spending on production.

Due to the Russian invasion of Ukraine on 24th, February, the U.S. government has insisted that drillers produce more oil and gas in order to reduce local prices and support other countries to avoid Russian energy dependence.

Being an early indicator of future output, the rig count climbed for a record 21 months in a row through April. Nevertheless, weekly increases have mostly been in single digits and oil production is still far below pre-pandemic record levels.

Moreover, crude production was aimed to rise from 11.2 million barrels per day (bpd) in 2021 to 12.0 million bpd in 2022 and 13.0 million bpd in 2023, according to federal energy data.

Given that this growth has been expected, recent global market changes make forecasting the output even more challenging. Learning how production will change is easier with early activity tracking, a new service recently launched by Rextag.


Rextag's Pad Activity monitor (#PAM) assists to learn about potential increases or decreases in oil and gas production months ahead of others and how potential volumes could impact storage and transportation across the Permian Basin. With the help of satellite imagery and artificial intelligence, you are able to monitor well pad clearing, drilling operations, fracking crew deployment and completions with new data collected approximately every 2 days.

The incredible first-quarter profits were reported by top U.S. shale producers that week. As oil prices churned at the highest levels in years, lots of money was poured into higher dividends and share buybacks.

A large number of energy companies are going to increase capital spending for a second year in a row in 2022 as the oil prices are up about 47% so far this year to about $110 a barrel, after soaring 55% in 2021.

The independent exploration and production (#E&P) companies intend to raise expenditures by about 29% in 2022 compared with 2021 after increasing spending by about 4% in 2021 regarding 2020, as U.S. financial services firm Cowen & Co. declared.

As a result, there is a drop in capital expenditures of roughly 48% in 2020 and 12% in 2019. 

The overall amount of rigs in the U.S. would grow to an average of 684 in 2022 and 783 in 2023, due to U.S. investment bank Piper Sandler forecast. As Baker Hughes claimed that compares with an average of 478 in 2021.

If you are interested in learning more about PAD Activity Monitor, please, contact our Houston sales office or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.

Tel. +1 713-203-3128

Email: treitmeier@hartenergy.com

Persistent Production Uptick in the Permian Basin

$data['article']['post_image_alt']

No sooner had the crude prices soared above $100/bbl than the industry professionals believed in an incredible growth of drilling activity in North America’s largest shale patch. Analysts speculate that additional output of 500,000 barrels of oil daily would become a significant part (4%) of overall U.S. daily production. That is going to flatter oil and gasoline prices. Drilling permits in the Permian Basin are persistently growing, averaging approximately 210 at the beginning of April. Moreover, the permits trend is noticed as an all-time high as a total of 904 horizontal drilling permits were awarded last month. Nowadays, learning and analysing the current situation and predicting the future development become easier with early activity tracking, a new service recently launched by Rextag. Rextag's Pad Activity monitor (PAM) allows you to see well pad clearing, drilling operations, fracking crew deployment and completions with new data collected approximately every 2 days with the help of satellite imagery and artificial intelligence. While the increase in drilling will result in higher production, U.S. shale producers will have to overcome several hurdles including labor shortages and supply constraints.

Staying on Top of Drilling Activity Trends in the Permian Basin

$data['article']['post_image_alt']

Oil output in the Permian Basin in Texas and New Mexico is supposed to go up 88,000 bbl/d to a record 5.219 million bbl/d in June, as the U.S. Energy Information Administration (EIA) announced in its report on May 16. Additionally, gas productivity in the Permian Basin and the Haynesville in Texas, Louisiana and Arkansas will rise to record highs of 20 Bcf/d and 15.1 Bcf/d in June, respectively. Given that this growth has been expected, recent global market changes make forecasting the output even more challenging. Learning how production will change is easier with early activity tracking, a new service recently launched by Rextag – Pad Activity Monitor. With the help of PAM, you are able to monitor well pad clearing, drilling operations, fracking crew deployment and completions with new data collected approximately every 2 days. Additionally, it cuts down activity reporting lag times by at least 98%, from 120-180 days down to just 5-8 days. In order to access reports, charts, tables, and mapping visualizations via Rextag’s Energy DataLink use a web-based application allowing users to filter, download and identify activity on a map or data table. Moreover, customers will be able to set up daily, weekly, and monthly email report notifications.

$data['article']['post_image_alt']

Shareholder’s payout target was increased by 50% after the largest U.S. independent oil producer surpassed Wall Street’s earnings estimates on growing energy prices, said Houston-based Conoco Phillips Co. on Aug. 4. Due to Western sanctions on major producer Russia throttling energy supply amid a rebound in demand from pandemic lows, oil and gas #prices have soared. Crude has been trading more than 25% higher since the start of the year and results also benefited from high natural gas prices. Meanwhile, shares were down a fraction, to $91.03, in early trading but are up about 26% year to date. Conoco Phillips stated, that the average price obtained for a barrel of oil and gas accelerated 77% from a year earlier to $88.57. The company acknowledges that it has not hedged any of its oil and gas sales to make the most of higher market prices. The capacity of 1.69 million boe/d was in line with Wall Street estimates, however, the company expected the current quarter’s output would be between 1.71 million and 1.76 million boe/d.

$data['article']['post_image_alt']

California oil joint venture, Aera Energy, of Exxon Mobil Corp. and ShellPlc is being sold to German asset manager IKAV, according to the agreement of Sept. 1. Shell noted that the sale of its 51.8% membership interest in Aera Energy is for a total consideration of about $2 billion in cash with additional contingent payments based on future oil prices, subject to regulatory approval. However, the total transaction value was not disclosed. Being one of California’s largest oil and gas producers, Aera Energy accounts for nearly 25% of the state’s production. The sale by Exxon Mobil and Shell ends a 25-year-long partnership in California, meanwhile, it persists a streak of divestments of mature oil and gas properties by the two supermajors. Aera Energy LLC operates about 13,000 wells in the San Joaquin Valley in California, producing oil and associated gas. In 2021, Aera took out about 95,000 boe/d. Exxon Mobil’s interests in the Aera oil-production operation in California contained a 48.2% share of Aera Energy LLC and a 50% share of Aera Energy Services Co. held by Mobil California Exploration & Producing Co. Moreover, Exxon Mobil affiliates have signed a separate agreement for the sale of an associated loading facility and pipeline system. The sale effectively ends Shell’s upstream position in California. The company reported that the divestiture is valued to result in a post-tax impairment of $300 million to $400 million, subject to adjustments.

$data['article']['post_image_alt']

The completion of the merger between Centennial Resource Development Inc. and Colgate Energy Partners II LLC happened on Sept. 1, sealing the debut of Permian Resources Corp., which is considered the largest pure-play E&P company in the Delaware Basin. Permian Resources’ idea was to combine two successful E&P companies, creating a better, stronger, and more strategically compelling company. Centennial and Colgate announced an agreement to merge in May, denying rumors that Colgate, a privately held independent Midland-based company, had been seeking an IPO. The merger estimated Colgate at about $3.9 billion and consists of 269.3 million shares of Centennial stock, $525 million of cash, and the assumption of approximately $1.4 billion of Colgate’s outstanding net debt. Permian Resources, being the combined company, has a deep inventory of “high-quality” drilling locations on around 180,000 net acres the companies anticipate will provide more than $1 billion of free cash flow in 2023 at current strip prices, in accordance with the company release on Sept. 1.

A&D sector ANR Pipelines Abraxas Petroleum Acquisition Acquisitions Admiral Permian Resources Aera Energy Alberta Alternative Fuels Ameredev II Anadarko Basin Analysis Analytics Antitrust Appalachia to Market and Middlesex Extension project Appalachian Appalachian Basin Appalachian basin ArcLight Capital Partners Artesia Natural Gas Gathering and Processing System Asia Assets Acquisition Assets Revenue Assets Sale Assets Value Aviation emissions BOED BP BP Plc BPX Energy Baker Hughes Bakken Bakken Formation Bakken Shale Bakken shale Bankruptcy Bay du Nord Berkshire Hathaway Biodiesel BridgeTex Broom Creek Formation Buyout Firms CCS CO2 reduction Canada Carbon Capture Carbon Footprints Carbon capture and storage Careers in O&G Carl Icahn Cenovus Centennial Resource Development Centennial Resource Development Inc. Cheniere Energy Cheniere Marketing Chesapeake Energy Corporation Chevron Chevron Corp. China Gas Holding LTD. Clean Energy Climate Change Coal Colgate Energy Colgate Energy Partners II LLC Colgate Energy Partners III Colorado Comisión Federal de Electricidad Comstock Resources Concho Valley Solar ConocoPhillips Co. Continental Resources Corpus Christi Costa Azul Credit Suisse Group Crescent Energy Crestwood Equity Partners Crowheart Energy Crude Oil Crude Prices D-J Basin DCP DCP Midstream Data Debt Restructuration Decarbonization Technology Decarbonized Fuel Delaware Delaware Basin Delaware basin Denver Devon Energy Diamondback Energy Dividends Dominion Energy Double E Pipeline DoublePoint Energy Downstream Market Driftwood Pipeline LLC Drilling Drilling Inventory E&P EIA EIEC EP Energy ESG ESG performance ESG score Eagle Ford Eagle Ford Shale Earthstone Energy Inc. Emissions EnCap Flatrock Midstream EnCap Investments Enbridge Enbridge Inc Endeavor Gathering Energy Energy Assets Energy Crisis Energy Gas Energy Information Administration Energy Infrastructure Energy M&A deals 2022 Energy M&As Energy Prices Energy Production Energy Projects Energy Transfer Energy Transfer LP Energy Transport Solutions Enterprise Enterprise Product Operating LLC Enterprise Products Partners Environmental Protection Agency Equinor Energy Ireland Equitrans Midstream Corp. Equity Investments Ethanol Conversion Europe Evolution Petroleum Exaro Energy III Export Exxon Mobil Exxon Mobil Corp. ExxonMobil Flowing Gas Forecast Fort McMurray G&P GIS GIS NG data GIS U.S. GIS U.S. NG Data GIS U.S. NG data GIS U.S. data Gas Gas Extraction Gas Flaring Gas Holdings Gas Processing Plants Gas Production Gas Rates Gas processing Gathering Gathering and Processing Gathering and Transportation Network Gemini Carthage Glencore Global Emissions Goldman Sachs Great Western Petroleum Greater Green River Green River Basin Greenhouse Gas Emissions Gulf Coast Gulf Run Pipeline map Gulf of Mexico Haynesville Haynesville Basin Horizontal Well Humble Midstream Hydraulically Stimulated Resources Hydrocarbon Exploration Hydrocarbon Reservoirs Hydrogen IKAV IPO Import Inc. Infrastructure Ironwood Midstream Joint Venture Jonah Field Jordan Cove KKR Kinder Morgan Komipo America LEG project LNG LNG Delivery LNG Demand LNG Terminals LNG delivery LNG exports LNG plant LNG provider LNG-by-rail LaBarge Labrador Lake Charles Project Leasehold Properties Leucrotta Exploration Lime Rock Resources Line 3 project Liquefaction Plant Liquefied Natural Gas Liquefied natural gas Liquids and Natural Gas Pipelines LongHorn Louisiana Lucid Energy Group M&A MPLX LP Magellan Magellan Midstream Partners Mainline Pipeline System Mancos Shale Marathon Petroleum Marcellus Shale Marcellus region Mariner East Project Mariner east expansion Market Acquisition Of Vine Energy Inc. Matador Medallion Pipeline Merge Merger Merit SI Methane Emissions Mexico MiQ Mica Midcontinent Midland Midland Basin Midstream Midstream NG gathering pipelines Midwest Monopoly Montana Montney Shale Motiva Enterprises Mountain Valley NG Pipeline Maps NG U.S. midstream data NG data NG data U.S. NG gathering pipeline systems NG pipeline maps NGL NGL Energy Partners NGL export NGL logistics NGL production NGLs NGO NGP NLG Natural Gas Natural Gas Assets Natural Gas Certification Natural Gas Equivalent Natural Gas Gathering Natural Gas Infrastructure Natural Gas Liquids Infrastructure Natural Gas Prices Natural Gas Production Natural Gas Products Navitas Midstream Net Acres Net-zero Production New Fortress New Jersey New Mexico Newco Newfoundland Non-Operated Assets North Dakota North-East Northern Oil and Gas Nuevo Midstream O&G O&G Production O&G output records O&G production forecasting Oasis Midstream Partners Oasis Petroleum Oasis Petroleum Inc. Offshore Oil Oil Equivalent Oil Prices Oil Sanctions Oil and Gas Oil and Gas Production Oil and Gas Properties Oil and Gas rigs Oil and gas production Oil companies Onshore Operated Wells Orphan Basin Oryx Oxy PAM PDC Energy PHMSA Paradox Basin Pearl Energy Investments Pembina Penn Virginia PennEast Pipeline Pennsylvania Percussion Petroleum Permian Permian Basin Permian Basin 2022 Permian Resources Corp. Permian acreage sale Permian basin Petro-Hunt Petroleum Production Piceance Pine Wave Energy Partners Pinnacle Midstream Pioneer Natural Resources Pipeline Pipeline Maps Pipeline and Hazardous Materials Safety Administration Pipelines Pipelines and Refineries Plains Plains All American Powder River Powder River Basin Power Generation Power Plant Fuel Production Production Forecast Propane Quantum Energy Partners Questar Pipeline RSG Ranger Oil Rattler Midstream Red Trail Energy Reduction of Greenhouse Emissions Renewable Diesel Renewable Energy Group Research Riverstone Rocky Mountains SAF SPA Sabine Pass LNG LP San Mateo Sempra Energy Sequestration Shale Shale Field Shale Formation Shale Gas Shale Industry Shale Oil Producer Shareholder Returns Shares Shell Plc. Sierra Grande Silver Hill Energy Partners III Sinochem Group Sour crude South Carlsbad Natural Gas Gathering System South Haynesville Basin Southcross Energy Southeast Gateway Southern Access expansion Southern Lights Pipeline Southwest Gas Stock Market Strategic Petroleum Reserve Strategic Resources Summit Midstream Partners Summit’s Lane System Sunrise Oil Sands TC Energy TC Energy Corp. THQ Appalachia Takeaway Targa Resources Texas Titus Oil & Gas Production LLC Trace Midstream TransCanada Transport Permit Transportation Infrastructure Tug Hill Operating U.S. U.S. Gulf Coast U.S. LNG exports U.S. NG data U.S. NG midstream data U.S. crude exports U.S. crude oil data U.S. energy maps U.S. hydrogen production U.S. midstream data U.S. refineries U.S. shale gas assets Uinta Uinta Basin Ukraine Upstream Utah Vermilion Energy Vista Pacifico WCS Waha Hub Wamsutter Field War Warburg Pincus Water Management Water management Webinar Well maps Wells West Texas Western Canada Select Western Canadian Sedimentary Basin White House Whiting Whiting Petroleum Wholesale William Companies Williams Williston Williston Basin Woodland Midstream II XcL Midstream Zacks Consensus Zephyr Energy Acquisition Acreage maps Acreage sale Analytics And Phillips 66 Partners Asset renewal Asset sale Assets merger Atural gas gathering Aviation Aviation fuel Bbl Bioethanol Carbon capture and storage Carbon capture storage (CCS) Carbon footprint Carbon-free Crude export terminals Crude exports to Europe Crude oil Crude oil and natural gas output Crude oil delivery Crude oil production Divestment Drilling activity Drilling permits Electrification Emission reduction Emissions Emissions reduction Energy infrastructure Energy maps Energy market Energy provider Energy services Energy supplies Energy transfer Expansion Exploration & production Financial results Flaring gas Forecast Fuel Gas Gas prices Gas projects Geologic CO2 storage Green energy Greenhouse gas Greenhouse-gas emissions Growth Hydrogen pipeline maps Investment Map of pipelines Merger and acquisition Midstream Midstream footprint Midstream infrastructure Natural gas Natural gas gathering and processing Natural gas maps Natural gas pipelines Natural gas producer Natural gas production Oil Oil and energy Oil and natural gas assets Oil market Oil output Oil prices Onshore Partnership Petroleum infrastructure Pipeline Pipeline maps Produced water Rebranding Renewable energy Renewable energy sources Subsurface CO2 sequestration Subsurface characterization Sustainability The James Lake System The Permian Basin Upstream Water management Well maps Wells Wind energy