The energy-rich region of the southwestern U.S. known to geologists and fossil fuel enthusiasts as the Permian Basin has expanded its production more quickly than any other oil and gas Continue Reading
Small U.S. oilfield service companies are selling equipment and shutting their doors as business activity shrank last year and contract prices have remained below profitable levels despite oil-price gains. The Continue Reading
After last year saw some huge deals in the U.S. shale space, with ConocoPhillips merging with Concho Resources and Chevron buying Devon Energy, among others, it looks that this year Continue Reading
“This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil Continue Reading
All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM . The charts below are updated to March Continue Reading
It was a historic week for the oil industry, potentially marking a turning point, at least for the corporate strategies of the oil majors. More curbs on the supply side Continue Reading
Storing for the future or for the now? As economies recover from the pandemic, demand should surge, which will dent all the stored up oil sloshing around. Also in this Continue Reading
Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Continue Reading
U.S. crude oil output jumped 14.3% to 11.2 million barrels per day (bpd) in March from 9.8 million bpd in February, the U.S. Energy Information Administration (EIA) said in its Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 again this week, bringing the total rig count to 457—a Continue Reading
