U.S. day rates extend slump, but most drillers foresee busier H1
U.S. drilling day rates took a tumble in 2024, finishing the year lower than they began for the first time since the COVID-19 pandemic. The Enverus Day Rate Survey’s U.S. composite day rate declined for the 11th consecutive month to $22,220 in December, down $229 (1.02%) from November and $1,457 (6.19%) from December 2023. Most […]
Haynesville gas producers need stronger prices to justify growth
Operators have little incentive to increase Haynesville production until gas prices increase, but higher demand is on the way for LNG and electricity generation.
Pumpers Retire or Write Down Diesel Fleets Amid E-Frac Demand
In a market with tight demand, frackers are deciding the diminished returns they can command for Tier II diesel-only equipment are not worth the maintenance.
2024 upstream M&A on track to top last year’s 19 $1B+ deals
Q2 saw $30.2 billion of U.S. upstream deal activity, according to Enverus M&A Analytics, led by a $22.5 billion public company combination that continued a remarkable wave of E&P consolidation and highlighting the trend’s expansion beyond the Permian core.