Oil Market Report – August 2020
Global oil supply rose by 2.5 mb/d to 90 mb/d in July after Saudi Arabia ended its voluntary 1 mb/d cut, the UAE exceeded its OPEC+ target and US production Continue Reading
Is This The Beginning Of The End Of Oil & Gas Exploration?
Booms and bust cycles are very much a part of investing in the fossil fuel sector. In previous energy downturns, prices frequently experienced serious slumps, but oil and gas companies Continue Reading
Drilling Productivity Report for August
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
Uncertainty Upends Mergers & Acquisition In Oil And Gas
Every crisis has its consolidation. At least, that used to be the case before the 2020 oil industry crisis. When earlier this summer Chevron said it would acquire Noble Energy, Continue Reading
Oil Companies Wonder If It’s Worth Looking for Oil Anymore
A few dots near the bottom corner of the world map in the southern Atlantic, the Falkland Islands were once at the forefront of a new era for the oil Continue Reading
Oil Refiners Are Being Forced To Adapt Or Die
The International Energy Agency this week revised down its gasoline and jet fuel demand forecast for the rest of the year. In seemingly unrelated news, Philips 66 said that it Continue Reading
Why Fracking Activity Hasn’t Increased As Oil Prices Recovered
It’s been a long dry spell in the Permian. Shale drilling and completions activity has collapsed to levels not seen since before 2000 (as far back as records are kept). Continue Reading
Shale driller Chaparral Energy files for bankruptcy due to pandemic woes
Oklahoma shale driller Chaparral Energy Inc filed for Chapter 11 bankruptcy protection on Sunday, the latest U.S. energy sector casualty in recent months as COVID-19 crushes oil demand. The company’s Continue Reading
Big Oil Wrote Down $87 Billion In Assets In Less Than One Year
Seven of the largest oil companies in the world have written down a collective US$87 billion from the value of their oil and gas assets over the past nine months, Continue Reading
Shale Drillers Extend Historic Retreat on Stagnant Oil Prices
Shale explorers parked more drilling rigs in the U.S. this week as stagnant oil prices push the industry to extend a historic retrenchment. The number of active oil rigs in U.S. Continue Reading