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"After Houston oilfield services company and industry bellwether Halliburton kicks off the sector's earnings season Wednesday, most analysts expect revenue declines to slow, losses to narrow, and layoffs to all but come to an end. Halliburton, the world's second-largest energy services company, and the global leader Schlumberger, which reports Thursday, will set the tone for the earnings season and the direction of the industry into next year, analysts said. [...] there's evidence that corporations are again drilling complicated, horizontal wells across shale formations, said Byron Pope, an analyst at the Houston investment bank Tudor, Pickering, Holt & Co. The big question facing U.S. energy companies is whether OPEC follows through in November with its tentative deal to reduce production by as much as 750,000 barrels a day. The tentative deal, reached by members of the Organization of the Petroleum Exporting Countries in late September, is largely responsible", www.houstonchronicle.com
"(Reuters) - Large U.S. shale oil companies, flush with cash raised through stock offerings, are gobbling up properties in the Permian Basin straddling Texas and New Mexico, a trend that could boost U.S. oil output in the second half of 2017.", finance.yahoo.com
"For a place as decidedly flat as the Permian Basin, entry into West Texas’ oil lands is becoming a steep proposition.Since July, more than $6 billion in acquisitions have been made in the Midland and Delaware basins. The two largest, both in August, combined for more than $3.1 billion in less than two weeks.PDC Energy Inc. (NASDAQ: PDCE) said Aug. 23 it will acquire 57,000 net acres in the Delaware Basin for $1.5 billion.", www.oilandgasinvestor.com
"Just past the edge of the downcycle’s scary shadow, the Permian stands as an outlier—a contrarian basin in 2016. Operators here have added rigs, made flashy A&D transactions and cranked up production.Texas Railroad Commission data from June shows that the nearly five dozen counties associated with the Permian Basin produced 40.8 million barrels (MMbbl) of oil—a 14% increase from June 2015.", www.oilandgasinvestor.com
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