5. 1,400 Eagle Ford wells drilled, but uncompleted, IHS says
Just because the market is down doesn’t mean companies operating in the Eagle Ford are giving up their leasing agreements or abandoning their assets. According to a new analysis from the IHS, almost 1,400 wells in the South Texas fields have been drilled but not completed (DUC). Find out why after the click.
4. Rosneft sets world record for longest well
Rosneft, an integrated oil company majority owned by the government of Russia, broke another world record Tuesday. Off the coast of Russia’s Sakhalin Island at the Chayvo field, the company reports that it has drilled the longest well in the world. Get the specifics right here.
3. Look out OPEC! Oil ETF investors head for exit, risking new slump
Oil investors who amassed a $6 billion long position in exchange traded funds, occupying as much as a third of the U.S. futures market, are now racing for the exit at a near record pace. Read more after the click.
2. U.S. oil rig slide picks up again after false bottom
The fall in U.S. rigs drilling for oil quickened this week, data showed on Friday, suggesting that a recent slowdown was temporary, after slumping oil prices caused half of the country’s rigs to be closed since November. Read more here.
1. U.S. shale boom nears turning point: Kemp
Oil production from major U.S. shale plays will decline by almost 60,000 barrels per day between April and May according to new estimates from the Energy Information Administration. Read more after the click