Energy transition and peak demand predictions have spooked investors in oil, putting the prospect of peak production sooner than anticipated accompanied by wild price spikes. Key climate talks are set Continue Reading
You may find it curious that the price of oil is still above $80 a barrel. This is also why gasoline prices are at the highest levels since 2014. But, Continue Reading
Fracking fluid and oil wastewater are dumped into an unlined pit located right up against the Petroleum Highway in Kern County, California. Credit: Sarah Craig/Faces of Fracking California has a Continue Reading
Top oilfield firm Schlumberger NV (SLB.N) reported third-quarter profit which beat Wall Street estimates on Friday and echoed a rival’s forecast for a 20% increase in North American spending next Continue Reading
U.S. energy firms this week cut oil and natural gas rigs for the first time in seven weeks even as oil prices rose to fresh seven-year highs. The U.S. oil Continue Reading
One type of crude from America’s most prolific shale patch is having its moment, riding on the coattails of the global winter fuels crunch that has caused massive price rallies. Continue Reading
The number of oil and gas rigs in the United States fell by 1 this week The total rig count is now at 542, up 255 from this time last Continue Reading
Private equity firms are selling their assets and operations in U.S. shale plays to take advantage of soaring gas prices, Reuters has reported , noting the Haynesville play alone has Continue Reading
Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that Continue Reading
Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. The storage tanks in Cushing, Continue Reading
The Biden administration on Friday took a procedural step towards holding an auction for oil and gas drilling rights in the Cook Inlet off the coast of Alaska next year. Continue Reading
An oil-data startup backed by Palantir Technologies Inc. plans to figure out how much crude and natural gas reserves trapped underground are really worth. An oil-data startup backed by Palantir Continue Reading
U.S. antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden’s administration scrutinizes deals Continue Reading
Back in April 2020, the landlocked West Texas Intermediate crude oil price briefly crashed into negative territory – a stunning turn of events that cost traders massive losses – when Continue Reading
Oilfield firm Baker Hughes Co (BKR.N) reported quarterly profit that fell short of analyst expectations on Wednesday, in part due to global supply chain issues, sending its shares down sharply Continue Reading
The American Petroleum Institute (API) on Tuesday reported its fourth straight week of crude oil inventory builds. The week, according to the API, the build was 3.294 million barrels-strong. U.S. Continue Reading
U.S. oilfield firm Halliburton Co (HAL.N) on Tuesday posted its third consecutive quarterly profit and said customer spending in the United States could jump 20% next year, as stronger oil Continue Reading
Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration. According to the report, oil production Continue Reading
Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. Oil output in America’s most prolific shale Continue Reading
The world’s facing an energy crunch. Europe is feeling it worst as natural gas prices skyrocket to five times normal, forcing some factories to hold back production. Reserves depleted last Continue Reading
Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. While total production in the U.S. is Continue Reading
The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs Continue Reading
An energy price shock is serving as a reminder of the world’s continued dependency on fossil fuels—even amid efforts to shift to renewable sources of energy. Demand for oil, coal and Continue Reading
Global petroleum inventories have fallen to their lowest seasonal level for seven years as producers have failed to raise output to match the rapid rebound in consumption since last year’s Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row as oil prices soared to their highest since 2014, prompting drillers to Continue Reading
Permian oil production could reach pre-pandemic levels soon Control over the market’s marginal oil supply and oil prices is firmly in the hands of OPEC+ Overall, America’s production growth next Continue Reading
After years of pumping more oil and gas, Western energy giants like BP, Royal Dutch Shell, Exxon Mobil and Chevron are slowing down production as they switch to renewable energy Continue Reading
The multi-year contract is with Aethon Energy. Halliburton Company (NYSE: HAL) has announced that it and VoltaGrid LLC have entered into a multi-year contract with Aethon Energy to deploy an Continue Reading
Drilled but uncompleted wells in the U.S. shale patch hit November 2017 levels in July of this year, suggesting the industry desperately needs to start drilling While U.S. shale companies Continue Reading
The well was drilled to a total measured depth of 19,917 feet. Nabors Industries Ltd. (NYSE: NBR) has announced that the world’s first fully automated land drilling rig has reached Continue Reading
A large cloud of planet-warming methane was detected in the natural gas-rich San Juan Basin in New Mexico by geoanalytics company Kayrros SAS. A large number of gas companies operate Continue Reading
Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Continue Reading
Shale companies are on track to spend a little more money pumping oil next year, but most aren’t opening up the spigots, even as prices top $80 a barrel. Capital investments Continue Reading
Increased access to financing and strong oil demand has created an opening for closely held producers. Oil prices around $80 a barrel are once again spurring a revival of shale Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as oil prices soared to their highest since 2014 prompting some drillers Continue Reading
Oil explorers need to raise drilling budgets by 54 percent to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Continue Reading
Royal Dutch Shell (RDSa.L) warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August’s Hurricane Ida. However, in an update ahead of quarterly Continue Reading
U.S. Energy Secretary Jennifer Granholm said on Wednesday that tapping the country’s emergency oil stash is being mulled by the administration to cool gasoline prices that have hit seven-year highs Continue Reading
U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, according to BloombergNEF. U.S. shale oil production will expand Continue Reading
The latest Dallas Fed Survey found that costs in the industry have continued rising sharply for the second quarter in a row between July and September. The Dallas Fed Survey Continue Reading
The United States added seven rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on October 1. The United States added seven rigs week Continue Reading
European oil majors are working hard to cut their emissions by shedding assets as they attempt to become energy majors One of the highest-profile cases of this transition so far Continue Reading
All of the oil (C + C) production data for the US state charts comes from the EIAʼ’s Petroleum Supply monthly PSM . After the production charts, an analysis of Continue Reading
The land on which Audrey Trufant Salvant’s home sits in the small Louisiana town of Ironton has become an island in a sea of mud and snake-infested marsh grass. Nearby Continue Reading
Summary of Weekly Petroleum Data for the week ending September 24, 2021 U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending September 24, 2021 Continue Reading
American frackers, already struggling to hire enough workers, are concerned that the coming U.S. vaccine mandate will worsen the situation at a time of rising oil and gas prices. Many Continue Reading
French supermajor presents two scenarios for global energy and oil demand to 2050. According to TotalEnergies’ Momentum scenario, natural gas will be key to the energy transition, while oil consumption Continue Reading
French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, as more nations crack down on fossil fuels and promote cleaner power in Continue Reading
The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022, Continue Reading
Europe’s Energy Crunch Goes Global John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, says the energy crisis in Europe should serve as a cautionary Continue Reading
