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
D-J, Uinta Basins See Minor Uptick In Drilling Rig rates may have bottomed for land drilling contractors, but there are mixed messages whether activity is rising in the Greater Rockies’ market.On the one hand, horizontal rig count in the Denver-Julesburg (D-J) Basin rose four units during the second quarter to 17 active. However, wells turned to completion since March 1 has been relatively static in the D-J Basin at 25 per month.Ensign Energy Services Inc. was the region’s most active driller in late July with six rigs active. This was one rig more than second ranked Helmerich & Payne Inc. (NYSE: HP).Regionally, the D-J Basin represented 52% of active rig count while the traditional directional drilling dry gas markets in the Greater Green River and Piceance basins accounted for 32% of activity.Of interest is the continuing exploration program in Jackson County, Colo., where Oklahoma stalwart SandRidge Energy Inc. turned two wells to completion over the last month in Colorado’s North Park Basin.SandRidge has been active in Niobrara Shale exploration since purchasing EE3 LLC’s assets for $190 million in November 2015.Rig rates are down roughly $1,000 dollars per day for AC-VFD units vs. January, though contractors tell Hart Energy rates appear have bottomed.Contractors also said they don’t expect rig rates to improve in 2016. Increased efficiency in drilling and completion means operators will need fewer rigs even if activity increases.Watch for the next Heard In The Field report on the Greater Rockies drilling market in December.
Utica Shale Activity Highlights: July 2016 Utica shale gas production in Ohio climbed first-quarter 2016 in spite of falling commodity prices.Gas production in the Utica averaged 3.6 billion cubic feet per day (Bcf/d) in the first quarter—up by 80% from 2015 volumes of 2 Bcf/d, according to the Ohio Department of Natural Resources.The increase in gas production can largely be attributed to new pipelines and pipeline access in the Appalachian Basin.