EIA: U.S. shale well count drops sharply; Chevron plans to sell its Eagle Ford shale assets in Texas, USA

According to the latest drilling productivity report from the U.S. Energy Information Administration (EIA), there were 5,957 drilled but uncompleted (DUC) wells in all DPR areas of the United States in July 2021, the lowest level since November 2017, according to the latest drilling productivity report from the U.S. Energy Information Administration (EIA). The decline in DUC in most onshore U.S. producing regions, particularly in the Permian, reflects more completions and at the same time reduced new well drilling activity. As more wells are completed, oil production in the Permian region increases, but DUC inventories decrease, which could limit U.S. oil production growth in the coming months.

[Global petrochemical market will grow at a CAGR of 4.95% in 2030] According to a report by MENAFN on September 7, according to ChemAnalyst's report "2015-2030 Petrochemical Market Analysis: Plant Capacity, Production, Operational Efficiency, Demand and Supply, End Use, Distribution Channels, Regional Demand", the petrochemical market has shown considerable growth in historical periods and is expected to achieve a healthy CAGR of 4.95% during the forecast period through 2030.

     

Chevron is planning to sell Eagle Ford shale assets, including untapped inventory, for up to $3.8 billion for $70 per barrel of oil and $4 per million British thermal units, according to sources and a marketing filing. "From Chevron's perspective, the sale further streamlines their upstream business as they narrow their focus to the largest and most economical oil and gas projects while further diversifying their operations to keep pace with industry changes," said Andrew Dittmar, an analyst at Enverus. ”

According to Bloomberg News on September 3, Bloomberg reported that Hurricane Ida disrupted most of Louisiana's oil refining and oil production, Exxon Mobil Corp. The U.S. Strategic Petroleum Reserve (SPR) is being used to restore gasoline production in Louisiana.