National Energy Services Inc. (fka NESV)

[Illumin8edSurfer]

National Energy Services Inc(OTCMKTS:NESV) a growing oil and gas services company, would like to issue a statement regarding a proposed acquisition which was included in our recent filings to the SEC regarding the signing of an LOI with a Texas based Company operating in the Eagleford and Permian Basins. Although NES is excited about the opportunity for the anticipated closing of the acquisition, the Board of Directors adopted a policy this year not to announce any news about the contracts until they have conducted full due diligence and have finalized the purchase before announcing to the public. An LOI does not constitute an announcement until the transaction is complete.

"NES has completed all necessary due diligence on the target Companies, of which there are three consolidated into one, which involved a full appraisal of the assets to be included in the sale. Because of the size of the transaction, which is much larger than NES as the Company stands today, it has taken and enormous amount of time and capital to complete the pre-closing process, six months to be exact.

"Attorneys for both entities are working to finalize closing documentation to effect the transaction. Although we do not see any complications at this point which will hinder closing, wish to caution that the transaction is not complete and that this communication is only to advise our strategic partners and investors of where we are in the process. We hope to have further updates soon."




"The Eagle Ford and the Permian are premier unconventional resource plays, two of the most economic in the US." Noble Chief Executive Officer Dave Stover said.

Despite Low Oil Prices Investor Focus Remains On The Eagle Ford Formation And The Permian Basin

The Permian Basin and the Eagle Ford are two of the nation’s most important hydrocarbon production regions. They not only have vast reserves of crude oil, natural gas and natural gas liquids (NGLs), but they are close to refining and NGL-fractionating centers along the Gulf Coast, and to major gas consumers, including power and petrochemical plants and (soon) several liquefied natural gas export facilities.

The Permian and Eagle Ford basins together produce some 1.2 MMB/d of NGLs, and their proximity to the Mont Belvieu, TX fractionation center and new export terminals increase their value relative to other U.S. shale plays.
Even with lower crude prices, both the Permian and Eagle Ford basins are expected to remain leading production areas for oil, natural gas and NGLs.
NGL production is projected for three forecast scenarios for both the Permian and Eagle Ford. If crude prices remain low, by 2020 Eagle Ford NGL production is expected to be 300 Mb/d below the higher crude price scenario, while Permian NGL production will only be 100 Mb/d lower.
Three midstream companies dominate the gas-processing sector in the Permian and four companies dominate that sector in the Eagle Ford. Ownership of pipeline capacity is also quite concentrated.
A combination of existing and planned infrastructure appears likely to meet expected needs for gas processing and pipeline capacity, though some incremental capacity may be needed, particularly if crude prices steadily recover over the next five years.




Communities in the Eagle Ford Shale in South Texas topped the state’s list of the top oil- and natural gas-producing counties in June, according to data released this week by the Texas Railroad Commission.

Karnes County continues to pump more crude oil than any other county, with nearly 6.8 million barrels produced in June.

It was followed by DeWitt, La Salle and Gonzales counties — all in the Eagle Ford. McMullen County was the state’s ninth biggest oil producer.

All of the other top crude oil producers were in the Permian Basin in West Texas.

Webb County led the state for natural gas production, with 58 million MCF of gas. Webb County is part of the Eagle Ford Shale, but has long been one of the state’s top producers of natural gas.

Webb County was followed by Tarrant County in the Barnett Shale in North Texas.

In the Eagle Ford, Dimmit, DeWitt, Karnes and La Salle counties were also among the state’s top gas producers.

So far this year, the amount of drilling in Texas continues to pale in comparison to 2014, when crude oil prices were soaring around the $100 per barrel level. They’ve since fallen in half, to around $50 per barrel.

The Railroad Commission, which regulates the oil and gas industry, issued 851 drilling permits in June, down from 2,185 the same month last year.

The permits included 227 oil wells, 73 gas wells, 500 wells with both oil and gas, 34 injection wells, two service wells and 15 other permits.

Texas operators as of June have completed 11,542 wells, down from 15,828 wells recorded during the first half of 2014.

Here are the state’s top crude oil producers for June, in barrels:

Karnes (Eagle Ford) – 6,797,988
DeWitt (Eagle Ford) – 4,691,734
La Salle (Eagle Ford) – 4,620,430
Gonzales (Eagle Ford) – 3,156,164
Upton (Permian Basin) – 3,093,674
Andrews (Permian Basin) – 3,078,394
Midland (Permian Basin) – 3,052,231
Martin (Permian Basin) – 3,046,948
McMullen (Eagle Ford) – 2,922,426
Reeves (Permian Basin) – 2,527,124
Here are Texas’ top natural gas producers for June, by MCF:

Webb (Eagle Ford) – 58,555,033
Tarrant (Barnett) – 51,523,950
Panola (Haynesville Shale) – 27,740,460
Dimmit (Eagle Ford) – 23,321,147
Johnson (Barnett) – 23,049,439
DeWitt (Eagle Ford) – 20,807,735
Wise (Barnett) – 19,422,338
Karnes (Eagle Ford) – 18,571,638
Denton (Barnett) – 16,919,808
La Salle (Eagle Ford) – 15,879,814
Categories: Eagle Ford
Tags: Barnett Shale | eagle ford shale | permian basin | Texas Railroad Commission

Sources:

http://fuelfix.com/blog/2015/08/01/eagle-ford-shale-tops-texas-list-of-top-crude-gas-producers/#34692101=0

http://mobile.reuters.com/article/idUSnMKWVKmpHa+1f2+MKW20150921

http://www.techsonian.com/penny-stocks-buzzers-vape-holdings-vape-myecheck-myec-federal-national-mortgage-assctn-fnni-fnma-national-energy-services-nesv/12600785/

http://www.ogj.com/articles/uogr/print/volume-3/issue-3/noble-energy-agrees-to-enter-eagle-ford-shale-permian-basin-by-acquiring-rosetta-resources.html

http://breakingenergy.com/2015/07/22/despite-low-oil-prices-investor-focus-remains-on-the-eagle-ford-formation-and-the-permian-basin/

https://rbnenergy.com/subscriber/reports/previews/ill-take-you-there-ngl-infrastructure-in-the-permian-basin-and-the-eagle-ford