U.S. Shale Patch Reduced Breakeven Costs By 20% This Year
Pressured by plunging oil prices and the need to adjust to the lower oil demand, U.S. oil producers have slashed costs and managed to bring down their average breakeven costs Continue Reading
Bankruptcy Hit U.S. Oil Producers To Lose Quarter Of Production In 2021
As Chapter 11 filings by US E&Ps continue to pile up, onshore oil production from companies that filed for bankruptcy in the last two years is set to decrease by Continue Reading
North America posts 45 upstream bankruptcies in 2020: report
A total 45 bankruptcies in the North American E&P patch were filed in 2020, the second-highest number since oil prices abruptly plummeted to the $50/b level six years ago, Haynes Continue Reading
Offshore Oil’s Dramatic Comeback
Smack dab in the middle of an oil price crisis caused by an unprecedented demand loss, Exxon announced the latest in a string of discoveries off the eastern South American Continue Reading
ANALYSIS: US gasoline stocks hit 16-week high as pandemic lockdowns blunt demand
US gasoline inventories climbed for a fifth straight week in the week ended Dec. 11 as pandemic lockdowns weighed on demand, US Energy Information Administration data showed Dec. 16. Receive Continue Reading
Will Biden Seal The Fate Of The U.S. Shale Patch?
t’s a tale as old as time: there’s a new sheriff in town, and the first item on the agenda is wiping out or otherwise undermining the policies of the Continue Reading
Permian Drillers May Face Freshwater Shortages
New Mexico’s State Land Office is putting an end to the commercial sale of fresh water for oil and gas developments to protect the state’s scarce freshwater resources. Effective December Continue Reading
Big Oil Slammed With A $7 Trillion Reality Check
About a year ago, the world’s largest asset manager BlackRock Inc. (NYSE:BLK) declared its intention to increase its ESG (Environmental, Social and Governance) investments more than tenfold from $90 billion Continue Reading
IEA Sees Crude Glut Enduring to End-2021 Amid Demand Strains
The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Continue Reading
North Dakota’s Oil Production Won’t Rebound Until 2022
Crude oil production in North Dakota, home to the Bakken shale, is not expected to recover to pre-pandemic levels until late into 2022 due to the demand loss and the Continue Reading