The US Energy Information Administration increased its projection for month-on-month growth in US unconventional oil output for May by more than sevenfold in its latest Drilling Productivity Report. Receive daily Continue Reading
The world stands on the cusp of an oil supply crisis. Years of insufficient investment in offshore mega-projects combined with the end of U.S. shale hyper-growth and a recent shift 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
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 5 this week, bringing the total rig count to 453. In Continue Reading
Lee Klass is a long-haul trucker who has spent most of the past 50 years working behind the wheel. The cost of doing his job spiked dramatically this week. Klass, Continue Reading
Baker Hughes reported the total number of oil rigs operating in the United States and Canada increased by 11 this week. Baker Hughes Co. (NYSE: BKR) on Friday reported the Continue Reading
Shell Makes Significant Deepwater Gulf of Mexico Find Shell Offshore Inc, a subsidiary of Royal Dutch Shell, announced a “significant” discovery at the Leopard prospect in the deepwater U.S. Gulf Continue Reading
Washington was running out of gasoline on Friday, even as the country’s largest fuel pipeline network ramped up deliveries following a cyberattack and U.S. officials assured motorists that supplies would Continue Reading
The US oil and gas rig count jumped 10 on the week to 555, rig data provider Enverus said May 13, as upstream operators wrapped up first-quarter calls on an Continue Reading
Global oil consumption is now forecast to rise by 5.4 mb/d in 2021, 270 kb/d lower than in our previous Report. Europe and OECD Americas have been revised down by Continue Reading
