Unconventional Oil and Gas production
It’s an interesting time to work in the oil and gas business. With oil prices hovering around 40% to 50% of their 2014 levels, operators are looking to cut activity. As a company that monitors oil and gas lease production throughout the United States, Drillinginfo expected to see similar declines in leasing activity. While declines can be witnessed in some regions, other plays are holding steady and even increasing in activity. 2015 has also witnessed a significant increase in the number of lease extensions filed across the US. To analyze oil & gas leasing activity across the US we took twelve unconventional plays and compared the levels of activity over the past three years: Bakken, Barnett, Eagle Ford, Eaglebine, Fayetteville, Granite Wash, Marcellus/Utica, Mississippi Lime, Niobrara, Permian, Tuscaloosa Marine, and Woodford. Of the twelve, three saw modest to major upticks in leasing activity; three regions held steady; and the rest declined.