US LNG export boom ignites fracking ramp-up
Fracking activity is ramping up across the U.S. as producers cater to booming LNG export demand and seek to pre-empt service price spikes. Early movers can reap superior margins.
Permian Shale stages record rise in gas production
Fracking in the Permian Basin has staged a record 11% annual rise in gas production, adding 2.7 bcf/d to reach 27.7 bcf/d, suppored by break-even prices as low as $61 per barrel in the Midland Basin, one of the Permian's largest oil and associated gas formations.
Expand Energy’s growth of Haynesville output hinges on LNG demand
Strong global LNG demand has prompted Expand Energy to allocate up to $1.2 billion for drilling and completing rigs in the Haynesville Basin, 4% of its total drilling Capex. These monies spent cater for seven to nine new rigs as Expand Energy is the most cost-efficient player in the Haynesville, with a 12-month weighted average breakeven cost of $2.0/mcfe.
