Industry News

The One Where EOG’s Stock Tanked

A rare earnings miss pushed the wildcatter’s stock down as much as 6%, while larger and smaller peers’ share prices were mostly unchanged. One analyst asked if EOG is like Narcissus. This post appeared first on Hart Energy.

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Exclusive: Activists Sending ‘Wrong Signal’ on US LNG

Anne Bradbury, the CEO of the American Exploration & Production Council, says the Biden administration’s pause on U.S. LNG export approvals sends a wrong message about the importance of LNG to the American economy and the climate, in this Hart Energy LIVE Exclusive interview. This post appeared first on Hart Energy.

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US Expected to Supply 30% of LNG Demand by 2030

Shell expects the U.S. to meet around 30% of total global LNG demand by 2030, although reliance on four key basins could create midstream constraints, the energy giant revealed in its “Shell LNG Outlook 2024.” This post appeared first on Hart Energy.

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13 New Shale Well Permits Issued for PA-OH-WV Feb 12 – 18

There were 13 new permits issued to drill in the Marcellus/Utica during the week of Feb. 12 – 18, versus 19 permits issued the prior week. Pennsylvania issued 11 new permits last week. Ohio issued no new permits. West Virginia issued 2 new permits last week. Chesapeake Energy landed the most new permits, with 5…

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Layoffs Hitting the Gas Fields, Including Marcellus/Utica

According to Reuters, oilfield service companies and drillers have put the brakes on hiring and “further job cuts could loom” as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. We told you yesterday that Chesapeake Energy announced a coming rig and frac crew cut in the…

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