Permian Basin- The Death of Tight Oil Has Been Greatly Exaggerated
The future of tight oil output in the US will depend in large part on future development of Permian Basin resources in Texas and New Mexico. I have developed nine Continue Reading
Baker Hughes Reveals 67 Additional Rigs
The number of rotary drilling rigs operating in the US and Canada rose by 67 this week, Baker Hughes reported Friday. The number of rotary drilling rigs operating in the Continue Reading
Floating Oil Storage Shrinks Amid Robust Asian Demand
Global floating oil storage declined at a fast pace in December as traders sold crude held on tankers in the absence of price incentives to store it and in order Continue Reading
US oil, gas rig count slips by 1 to 406; Permian posts 6-rig loss
The US oil and gas rig count slipped by one to 406 in the week ending Jan. 6, rig data provider Enverus said, with the Permian Basin posting a six-rig Continue Reading
Shale CEOs Urge Production Restraint
The new boss of Devon Energy said he won’t let this week’s rally in oil prices tempt him to return to the days of rampant production growth at any cost. Continue Reading
U.S. Banks Don’t Want To Be Forced To Lend Money To Oil & Gas
U.S. banks want to continue choosing whether to lend money to the oil and gas industry according to risk and reputation management practices, asking a regulator not to proceed with Continue Reading
US crude inventories move sharply lower amid strong exports, rising refinery utilization
US crude oil inventories saw their largest decline since July in the week ended Jan. 1 on the back of strong exports and rising refinery demand, US Energy Information Administration Continue Reading
Shale Needs More to Boom Again
Don’t count on America’s shale industry to boom once again in response to $50 per barrel oil and Saudi Arabia’s plan to throttle back its own oil production. (Bloomberg) — Continue Reading
Oil Rally Unaffected By Major Product Builds
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 1.663 million barrels for the week ending January 1. Analysts had predicted an inventory draw Continue Reading
OPEC+ Talks Stall Over Oil Production
The OPEC+ talks stalled on Monday after the group failed to reach a consensus on the best path forward for oil production, the body reported on Monday afternoon. OPEC and Continue Reading