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
The number of active drilling rigs in the United States remained unchanged this week, keeping the total rig count at 586, as oil prices remain relatively strong despite the fresh Continue Reading
The U.S. Department of Energy said on Thursday it had approved a release of two million barrels of crude oil to Exxon Mobil Corp (XOM.N) from its Strategic Petroleum Reserve Continue Reading
Highlights Permian falls by five rigs, leaving 300 Haynesville at 63, highest since April 2019 Eagle Ford, Marcellus, Utica stagnant The US oil and gas rig count fell by 13 Continue Reading
After the fracking revolution left the U.S. shale patch bleeding cash and deeply indebted. Wall Street ramped up pressure on companies to cut debt and boost shareholder value. The U.S. Continue Reading
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Continue Reading
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending December 24, 2021 which was 115,000 barrels per day less than the previous week’s average. Continue Reading
EIA: commercial crude inventories fell by 3.6 million barrels Gasoline inventories decreased by 1.5 million barrels In middle distillates, the EIA estimated an inventory draw of 1.7 million barrels Crude Continue Reading
Internal rates of return have fallen this month across both oil and dry gas basins in the US, yet the rig count has increased steadily throughout December despite lower commodity Continue Reading
Oil drillers in the biggest U.S. fields are shouldering record costs. Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are Continue Reading
Mounting uncertainty about the energy transition keeps oil and gas companies from spending more Strategic choices in investment in clean energy solutions, responding to the pressure to decarbonize, and portfolio Continue Reading
Highlights Mad Dog, Vito are two of biggest 2022 startups 3 Murphy fields expected online next year US Gulf oil output to rise to 2 million b/d More deepwater exploration Continue Reading
The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production Daily average hydrocarbon production tumbled to 4.86 million boepd in 2021 Operators Continue Reading
Check out some of Rigzone’s top stories this week. Here are some of Rigzone’s top stories during the last week, just in case you missed them… Oil May Hit $380 Continue Reading
The number of active drilling rigs in the United States last week rose by 7, bringing the total to 586 as oil prices remain relatively strong despite the fresh wave Continue Reading
Lukoil has reached a major milestone at its offshore Vladimir Filanovsky field located in the Caspian Sea. Russian oil and gas company Lukoil has reached a major milestone at its Continue Reading
Slashed drilling activity and low oil prices led to the largest decline in annual average crude oil production in the United States in 2020 U.S. crude oil production averaged 11.3 Continue Reading
Highlights OPEC+ quotas, drilling programs to increase output capacity Output could rise by nearly 500,000 b/d by June on Nov 2021 levels Omicron, sanctions, strategic reserves releases could affect output Continue Reading
As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent Liquids continue to dominate the hydrocarbon mix, making up Continue Reading
As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent. The oil and gas industry is on course for Continue Reading
The fracking industry has often been criticized for its tremendous water usage. Plasma Pulse Technology is a new fracking tech that requires no chemicals or water. Its developers describe it Continue Reading
A new, fully automated, oil and gas rig recently made its debut in the Permian Basin. The rig uses digital technology and Canrig robotics to ‘man’ the platform. Other robotic Continue Reading
It appears that oil market oversupply may already be upon us, with demand being hit hard by Omicron and by China cracking down on its independent refiners. Friday, December 17th, Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as demand for energy keeps growing after last year’s coronavirus demand destruction. Continue Reading
The Biden administration’s release of crude from U.S. emergency reserves to cool oil’s rally is going into a second round, with bids due by the first working day of the Continue Reading
The number of active drilling rigs in the United States this week rose by 3, according to Baker Hughes . The total rig count rose to 579—a figure that is Continue Reading
The US oil and gas rig count jumped 16 to 716, energy analytics and software company Enverus said Dec. 16, with the Permian by far recording the biggest weekly domestic Continue Reading
Onshore oil and gas operations are exposed to the ‘full range’ of the physical impacts of climate change. More than 40 percent of commercially recoverable oil and gas reserves are Continue Reading
This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 815,000 barrels. U.S. crude inventories have shed some 61 million barrels since the beginning Continue Reading
