U.S. Oil Inventories Continue Decline Pattern
October 2020 Web Exclusive: Inventory and Market Update
U.S. crude oil inventories continued to shrink through the first full week of October, with data from both the American Petroleum Institute and the U.S. Energy Information Administration showing withdrawals and continuing a cycle that has seen net reductions of some 45 million barrels of commercial storage volumes since first week of July.
ODESSA, TX.–Proper well spacing is critical to the economics of unconventional reservoir development. In the Wolfcamp formation in the Delaware Basin, well spacing varies with formation characteristics (rock and fluid) across the play. Getting the spacing intervals between horizontal wells right is crucial to maximizing productivity and estimated ultimate recovery while avoiding detrimental frac hits and cross-well pressure and fluid interferences during stimulation and production.
The American Oil & Gas Reporter invited the Donald Trump and Joe Biden campaigns to participate in a Q&A “debate” of energy issues, which AOGR has obtained from Republican and Democratic presidential candidates in every election since George H.W. Bush versus Michael Dukakis in 1988. However, neither campaign chose to participate. Therefore, to address questions about what the oil and gas industry may expect from either a Biden or a second Trump administration, AOGR turned to experts in political and economic policy analysis to get their insights into the candidates’ views on a number of topics relevant to U.S. oil and gas producers–from federal regulations to public lands management and tax policy.
As the industry slowly restarts the engines of drilling and completion activity, many of the same companies that were quickest to respond last spring to collapsing market conditions are among the first taking steps this fall to get back to the business of developing new reserves. In many cases, the early movers are the smallest players in the game: private independent oil and gas companies.
NEW YORK–A new report from Morgan Stanley Research projects significantly higher average U.S. natural gas pricing in the months ahead and charts a path for Henry Hub spot prices to potentially top $5 per MMBtu during the upcoming winter heating season.
MIDLAND–The Midland Basin contains one of the world’s most prolific collections of stacked, tight reservoirs, including the Leonard, Spraberry, Dean and Wolfcamp. As operators transition to infill well “cube” development involving stacking multiple layers of wells, understanding the vertical drainage, cross-well communication and their variations through time becomes crucial in determining play economics and development strategies.