Marcellus and Utica Producers Gather to Discuss the Latest Efficiency-Focused Technologies & Strategies
This June, hundreds of oil and gas professionals, over two dozen executive-level speakers and top exhibitors converged in Pittsburgh to spend two days exploring the latest efficiency-focused technologies and strategies saving Appalachian producers valuable time and money. The event’s world-class speaker lineup featured leaders from the most-active producers in the region, including CONSOL Energy, Range Resources, Rice Energy, Eclipse Resources and others. A few key takeaways from the conference sessions were:
There are gains to be made in how efficiently the industry operates with the resources at hand. One of the biggest opportunities for operators could be their ability to narrow the gap between the best wells and the worst wells. We are in the early innings of improving capital efficiency.
If companies do things the right way and take a long view, they will be the lowest-cost—and most capital efficient—producers.
The industry has transitioned from speed to efficiency. During the high-price era, companies worked as fast as possible to acquire new acreage, drill wells and bring production online. In the current market, the focus is on efficiency and lowering costs.
Charlie Cook, editor and publisher of the Cook Political Report, and columnist for the National Journal delivered a special Presidential Election address, sharing a political insider’s look at how the 2016 race for the Whitehouse is shaping up. This year, Hart Energy also launched the all-new Technology Showcase on the exhibition floor. Top technology providers presented the latest solutions with case studies and live demonstrations.
The conference may be over, but the conversation isn’t! Find out what other attendees and exhibitors are saying on Storify. We would love to hear about your experience too.
Be sure to save the date for DUG East 2017, scheduled to return to the David L. Lawrence Convention Center in Pittsburgh, June 20-22, 2017.
Chief Operating Officer CONSOL Energy Inc.
Managing Partner Ponderosa Advisors LLC
Richard D. Weber
Chairman and CEO PennEnergy Resources
Founder and Chairman Petrie Partners LLC
Oleg E. Tolmachev
Senior VP of Drilling & Completions Eclipse Resources Corp.
Vice President Northeast Area, Southern Region Halliburton
Callum M. Streeter
Chief Operating Officer EdgeMarc Energy Holdings, LLC
Ray N. Walker, Jr.
Executive Vice President – Chief Operating Officer Range Resources Corporation
CEO APEX Energy, LLC
Founder, President and COO Rice Energy
NE Area Engineer Baker Hughes
Managing Director Jefferies LLC
Director of Operations, Southern Marcellus Shale Division Range Resources
Dr. Carmine Difiglio
Deputy Director for Energy Security U.S. Department of Energy
Vice President of Operations Gulfport Energy
Michael A. Huwar
Vice President, Marketing Columbia Midstream Group
EQT Amasses More Marcellus Acreage For $680 Million With $2.2 billion of cash to spend, EQT Corp. (NYSE: EQT) said Oct. 25 it picked up a few things in the Marcellus Shale in deals that add 59,600 net acres and hundreds of locations to its portfolio.The bulk of the acreage, located in West Virginia and Pennsylvania, comes from Trans Energy (OTC: TENG) and affiliates of private E&P Republic Energy and other parties.The deals may be in response to Rice Energy Inc.’s (NYSE: RICE) $2.7 billion purchase of Greene County, Pa., acreage from Vantage Energy LLC.“EQT is answering investors' concerns on inventory after Rice's acquisition of Vantage Energy,” said Charles Robertson II, an analyst at Cowen and Co.
Clayton Williams Divests Eagle Ford For Permian Purity Another pure play Permian Basin company is born.Clayton Williams Energy Inc. (NYSE: CWEI) said Oct. 24 that it will sell its oily East Central Texas Giddings asset to an undisclosed party for $400 million.The transaction will free up capital for the company’s Delaware Basin holdings in Reeves and Ward counties in Texas. Some of the proceeds will also be used to pay debt.The Giddings Field produces about 3,900 barrels of oil equivalent per day (boe/d), 80% of which is oil. The deal will lop off about one-third of the company’s second-quarter 2016 production; Giddings’ proved reserves were 9.7 MMboe as of Sept. 30. The company has about 160,000 net acres in the field.