US May Production Plunges 2Mb/d
A post by Ovi at peakoilbarrel All of the oil (C + C) production data for the US states comes from the EIAʼs Petroleum Supply monthly PSM . At the Continue Reading
Brutal 20-Week Rig Count Collapse Finally Subsides As Oil Prices Stabilize
Baker Hughes reported on Friday that the number of oil rigs fell, while the combined oil and gas rig count in the US held steady this week at 251, marking Continue Reading
Baker Hughes Reports Flat US Rig Count
The number of rotary drilling rigs operating in the United States stood at 251 for the second week in a row, Baker Hughes Co. reported. The number of rotary drilling Continue Reading
Noble Corp. Files Bankruptcy to Erase $3.4 Billion of Debt
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells Continue Reading
Rystad Foresees New Oil Supply Glut
A new four-month oil supply glut should result from the partial return in August of curtailed OPEC+ production, Rystad Energy predicts. A new four-month oil supply glut of approximately 170 Continue Reading
Summary of Weekly Petroleum Data for the week ending July 24, 2020
U.S. crude oil refinery inputs averaged 14.6 million barrels per day during the week ending July 24, 2020 which was 389,000 barrels per day more than the previous week’s average. Continue Reading
Dakota Access Pipeline Saga Stalls Oil Production Recovery In The Bakken
The uncertainty surrounding the future operations of Dakota Access, the key pipeline carrying crude out of the Bakken, is stalling oil companies’ plans to invest in bringing back online the Continue Reading
Hess raises Bakken production, has options if DAPL shuts down: CEO
Hess’ Bakken Shale production jumped 39% year on year in the second quarter, and the potential shutdown of a major pipeline that takes oil from the North Dakota field to Continue Reading
US crude stocks hit 14-week low amid rising exports, refinery demand: EIA
US crude oil inventories moved sharply lower during the week ended July 24 as exports and refinery demand climbed to multi-month highs, US Energy Information Administration data showed July 29. Continue Reading
Denbury to File Chapter 11
Denbury Resources Inc. became the latest debt-laden oil producer to say it will seek bankruptcy and hand ownership to lenders in the aftermath of a pandemic-fueled plunge in crude prices. Continue Reading