30 oil and gas infrastructure facilities in the Permian have been large methane emitters over the past 3 years, according to a new study. The super-emitters could save tens of Continue Reading
A new projection from the United States Energy Information Administration, however, shows a clear win for renewables in the coming years – and waning natural gas usage. The EIA expects Continue Reading
There is a 200-million-barrel gap between the agency’s own global inventory calculations and what it observed in the global oil supply Wrong assumptions about demand were clearly one cause for Continue Reading
A new area under watch by the Texas oil regulator could impact wells responsible for disposing about 270,000 barrels per day of saltwater from oil and gas operations, according to Continue Reading
U.S. energy firms this week cut oil rigs for the first time in 13 weeks after crude prices fell for six weeks in a row from late October-early December. Oil Continue Reading
U.S. petroleum inventories have continued to slide over the last month and are well below their normal seasonal levels, which has helped push oil prices to their highest since 2014. Continue Reading
Fossil fuel production in the United States is set to hit record levels in 2023 due to increased efficiency and higher prices The combined production of coal, natural gas, and Continue Reading
The number of active drilling rigs in the United States rose by 3 this week, bringing the total rig count to 604, as oil prices linger just under 7-year highs. Continue Reading
Highlights Sees ‘short-cycle activity resurgence’ in 2022 Long-cycle projects also gain momentum Strong growth expected in offshore markets Recovery from the coronavirus pandemic continues to improve the energy landscape, as Continue Reading
The active rig count increased in the week ending Jan. 19 in every major US oil and gas shale basin barring the Utica as operators take advantage of high prices Continue Reading
Highlights Midland, Texas low temperature forecast to dip below 20F Waha cash price falls 83 cents on Jan 20 to $3.86/MMBtu Balmo, February forwards markets price in Waha premium Low Continue Reading
BP and Rosneft were the only companies to have delivered over 1 billion barrels of oil equivalent in discoveries last year due to their exposure in Russia which yielded 48 Continue Reading
While sentiment and intent can heavily influence oil markets, it is the fundamentals that ultimately shape them When it comes to U.S. shale production and investment, those fundamentals are increasingly Continue Reading
Crude oil production in the Permian shale play reached a record-high last month, averaging 4.92 million bpd, the Energy Information Administration reported in the latest edition of its Drilling Productivity Continue Reading
Oil supply will soon overtake demand as some producers are set to pump at or above all-time highs, the International Energy Agency (IEA) said on Wednesday, while demand holds up Continue Reading
The IEA raised projections for global oil demand by 200,000 barrels a day for both 2021 and 2022. Global oil markets look tighter than previously thought as demand suffers surprisingly Continue Reading
The EIA is expecting a supply crunch in oil markets as demand continues to grow, a scenario which could push oil prices higher. OPEC, on the other hand, is predicting Continue Reading
Spare capacity will be uncomfortably low by H2 if production hikes persist Iran nuclear deal, Russia-West relations, Libya political chaos key risks 70 incidents observed since 2017, according to Platts Continue Reading
Highlights IEA raises 2021, 2022 demand forecasts by 200,000 b/d Global oil demand to average 99.7 million b/d in 2022 Cautions over the potential for volatile oil market this year Continue Reading
As they strain to restore oil production, OPEC and its allies are being left with a diminishing buffer of spare supplies — potentially setting up crude prices for a sizzling Continue Reading
State-run Oil India exits from Niobrara shale business, sells entire stake Reliance divested entire holdings in Eagleford shale play in November Indian firms pursuing more profitable opportunities at home: Platts Continue Reading
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Several investment banks believe that demand will outstrip supply in early 2022 Just a handful of OPEC members are capable of meeting higher production quotas IHS’ Daniel Yergin: it’s almost Continue Reading
Frackers in America’s hottest oil field are facing an expensive new setback: earthquakes. Shale companies in West Texas will have to pay more to move millions of barrels of wastewater that surfaces Continue Reading
Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling Continue Reading
Below are a number of oil, crude plus condensate (C + C ), production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated Continue Reading
The Eagle Ford Shale in South Texas, long dormant compared to its larger cousin the Permian Basin, saw its biggest one-week jump in drilling activity in more than two years Continue Reading
The number of active drilling rigs in the United States rose by 13 this week, bringing the total rig count at 601, as oil prices keep to bull territory even Continue Reading
Natural gas output up 2.4% to 3.072 Bcf/d Rig counts rising; December count was 32 December may show output rise, then drop North Dakota’s oil production jumped almost 49,000 b/d, Continue Reading
Despite multiple signals from the U.S. oil industry that it will continue treating the oil price recovery cautiously, signs are emerging that production growth is accelerating in some key locations, Continue Reading
The world may soon face a major oil supply shortage as spare capacity continues to dwindle and reserve replacement rates fall The number of new oil and gas discoveries may Continue Reading
The world may soon face a major oil supply shortage as spare capacity continues to dwindle and reserve replacement rates fall The number of new oil and gas discoveries may Continue Reading
U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending January 7, 2022 which was 293,000 barrels per day less than the previous week’s average. Continue Reading
With oil prices now sitting comfortably above $80, the EIA believes U.S. oil production will break new records in 2023 While the EIA forecasts record annual production, it does not Continue Reading
Investment firm EnCap has merged two of its portfolio companies to create a shale oil producer in the Permian worth $4 billion, Reuters has reported , citing unnamed sources familiar Continue Reading
The gasoline market is painting a picture of tight supplies this summer. The gasoline market is painting a picture of tight supplies this summer — the last thing Joe Biden Continue Reading
The region’s total rig count now stands at 729. North America added 53 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on January Continue Reading
The oil market has started 2022 as it ended 2021: with a rally. With supplies curbed and demand fears fading, there are bullish signals for prices this year. Photographer: Luke Continue Reading
Schlumberger (SLB.N) , the world’s largest oilfield services company, is adjusting operations planning as COVID-19 infections have soared among its U.S. workforce, the company said on Friday. Schlumberger has had Continue Reading
Frigid weather in North Dakota and Canada has disrupted crude flows from Alberta’s oil sands and the Bakken shale play in the United States. The deep freeze forced TC Energy Continue Reading
Dealing with the US shale industry’s produced water is increasingly controversial for operators, a new Rystad Energy report reveals. Even though total produced volumes are projected to hit new record Continue Reading
U.S. energy firms kicked off the new year by continuing to add oil and natural gas rigs this week after increasing the rig count in 2021 after two years of Continue Reading
The number of active drilling rigs in the United States rose by 2 this week. Oil-directed rigs were up by 1 to 481, while gas-directed rigs were up by 1 Continue Reading
Oil producers in some of the most prolific parts of the Permian could lose up to half of their wastewater disposal wells as the Texas Railroad Commission targets the quake-inducing Continue Reading
2021 saw a big number of high-profile oil deals in the prolific Permian basin Independent oil companies are leading the charge The Delaware Basin is especially attracting attention from E&Ps Continue Reading
Citi’s Morse Sees Oil Market in Surplus at End of 2022 Major shale-oil drillers are dreading the prospect of $100-a-barrel crude on fears it will tempt less-disciplined rivals to expand Continue Reading
U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending December 31, 2021 which was 163,000 barrels per day more than the previous week’s average. Continue Reading
Strongest earthquake in 10-years stirs up debate in Texas The Texas Railroad Commission banned injection of wastewater from well drilling into deep wells just before the big quake Shutting down Continue Reading
This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 6.432 million barrels, after analysts predicted a much smaller 3.40 million barrel draw . Continue Reading
While U.S. oil and gas firms are expected to raise their capital spending in 2022, constrained funding could put a cap on their ambitions. Low capital funding availability poses a Continue Reading
