The Oil And Gas Industry Is Going Remote
If there was one thing the last oil price crisis proved, it was this: despite the devastation that low oil prices can wreak on an industry, they can also make Continue Reading
Oil Drilling Drops to 15-Year Low With Shale in Full Retreat
Drillers cut exploration in U.S. oil fields to a 15-year low as billions of barrels from old discoveries became worthless and explorers abandoned growth plans. The number of active oil rigs in Continue Reading
Shale Productivity Is Reaching Its Limit
1. Gold prices surge – Gold hit a new high this week, closing over $2,000 per troy ounce for the first time. – While a specific reason for the latest Continue Reading
A Unique Oil And Gas Earnings Season
The oil and gas market’s appetite is now shifting. As dismal Q2 financials flood in, lowered market expectations is seeing disastrous quarterlies as bad, and bad quarterlies as okay. Okay Continue Reading
U.S. Oil Rig Count Falls To Lowest Level Since 2009
Baker Hughes reported on Friday that the combined oil and gas rig count in the U.S. fell this week by 4, to 247. The total oil and gas rigs are Continue Reading
Demand For Offshore Oil Rigs To Return In 2022
Demand for offshore rigs will slump this year as a result of the pandemic and the low oil prices that are forcing offshore operators to delay drilling activities, but the Continue Reading
U.S. Shale Remains In Survival Mode For Another Year
After slashing capex plans for 2020 and idling rigs by the dozen, U.S. shale drillers are still not ready to return to their default state of perpetual growth. Oil is Continue Reading
Transocean Hires Adviser To Consider “Strategic Alternatives”
The world’s largest offshore rig operator Transocean has hired Lazard to advise it on strategic alternatives for its capital structure, Bloomberg has reported, citing a company statement. Transocean reported a Continue Reading
Dakota Access Pipeline Staves Off Shutdown Order Once Again
The Dakota Access oil pipeline again staved off what would have been an unprecedented shutdown, with judges ruling that the Trump administration has to decide whether the conduit can operate Continue Reading
Summary of Weekly Petroleum Data for the week ending July 31, 2020
U.S. crude oil refinery inputs averaged 14.6 million barrels per day during the week ending July 31, 2020 which was 42,000 barrels per day more than the previous week’s average. Continue Reading