ConocoPhillips is marketing its Williston Basin oil assets for a potential sale, according to people with knowledge of the matter. The company estimates it could fetch roughly $200 million for Continue Reading
Canada’s oil sands producers may find welcome relief to years of pipeline capacity constraints when the first new pipeline in years could enter into service as early as next month. Continue Reading
In a traditionally slow news month such as August, any event of relative significance gets abundant coverage. Yet the latest report by the Intergovernmental Panel on Climate Change was not Continue Reading
Major U.S. oil industry groups on Monday sued the Biden administration for halting drilling auctions on federal lands and waters this year, arguing the government is required by law to Continue Reading
U.S. shale oil output is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since May 2020, according to the Energy Information Administration’s monthly drilling Continue Reading
The U.S. Treasury Department issued new energy financing guidance to multilateral development banks on Monday, saying the United States would oppose their involvement in fossil fuel projects except for some Continue Reading
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
The largest oil companies have significantly raised their share of crude oil production in the U.S. Gulf of Mexico in recent years, while smaller firms have been weighed down by Continue Reading
Tankers in path of Fred, Grace could see delays Chevron moves some workers from platforms Back-to-back storms passing through the Gulf of Mexico could delay LNG tankers reaching US terminals Continue Reading
Oil and gas producers in the U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers Continue Reading
While the Biden Administration calls on OPEC+ to boost production more than planned, the major oil forecasters scaled back their outlook on how much OPEC+ crude the market would need. Continue Reading
A key pipeline linking Canada’s oil sands to U.S. markets could start shipping crude as early as next month. Enbridge Inc.’s Line 3 oil pipeline from Alberta to Wisconsin could Continue Reading
The number of oil and gas rigs in the United States rose by 9 this week, according to Baker Hughes —after rising by 3 last week. The total rig count Continue Reading
U.S. energy firms added the most oil rigs in a week since April as the total rig count more than doubled from a record low a year ago amid a Continue Reading
The global gas rally left a bitter aftertaste for one U.S. shale driller that posted negative revenue after it had to write down the value of its output hedges. Vine Continue Reading
Scotland’s First Minister Nicola Sturgeon called on the U.K. government to reconsider oil and gas licenses, just days after a United Nations panel warned of dire consequences for the planet without drastic Continue Reading
Highlights Bakken sees biggest weekly change, up 3 to 25 Permian Basin down by 1 rig, leaving 257 2022 operator thought suggests caution on oil markets The US oil and Continue Reading
U.S. crude oil production this year will average 11.1 million bpd and will rise to 11.8 million bpd in 2022, the Energy Information Administration said in its latest Short-Term Energy Continue Reading
Summary of Weekly Petroleum Data for the week ending August 6, 2021 U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending August 6, 2021 Continue Reading
A new era in deepwater drilling is about to begin. With the sanctioning of the Anchor project super-major operator, Chevron, NYSE: CVX) signaled that it was ready to risk billions Continue Reading
Shale drillers — some of them just emerging from bankruptcy — racked up a staggering $42 billion in new debt in the first half of the year. It’s not what Continue Reading
The region at the heart of the once-booming U.S. shale industry is signaling confidence in a nascent recovery after the pandemic crushed demand and curtailed oil and gas drilling. (Bloomberg) Continue Reading
Shale drillers — some of them just emerging from bankruptcy — racked up a staggering $42 billion in new debt in the first half of the year. It’s not what Continue Reading
Exxon Mobil Corp (XOM.N) has begun marketing U.S. shale gas properties as it ramps up a long-stalled program that aims to raise billions of dollars to shed unwanted assets and Continue Reading
Forecast Highlights Global liquid fuels The August Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty related to the ongoing recovery from the COVID-19 pandemic. U.S. economic activity Continue Reading
The North Dakota area of the Bakken LTO basin has accessible data from the ND Department of Natural Resources, Oil and Gas Division. Production here seems to be past peak Continue Reading
The number of oil and gas rigs in the United States rose by 3 this week, according to Baker Hughes —after falling by 3 last week. a The total rig Continue Reading
Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, people familiar with the matter said. (Bloomberg) — Devon Energy Continue Reading
U.S. crude oil stockpiles rose, while gasoline inventories fell, in a signal of steady demand for fuel, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) rose by 3.6 Continue Reading
Shale explorers are facing almost $12 billion in losses this year from bad bets on oil after a global rally, according to BloombergNEF. (Bloomberg) — Shale explorers are facing almost Continue Reading
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 879,000 barrels for the week ending July 30, bringing the total 2021 crude draw so Continue Reading
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in Continue Reading
Mergers and acquisitions are how an industry normally handles tough times. Asset prices drop, some companies can no longer survive on their own and become targets for those with the Continue Reading
U.S. May production surprised to the upside by 80 kb/d. Production increased from 11,151 kb/d in April to 11,231 kb/d in May. It was also 175 kb/d higher than January’s. Continue Reading
A shortage of tanker truck drivers has caused fuel delivery disruptions at airports from Nantucket to California. The Federal Aviation Administration issued a “Notice to Airmen” warning that some airports Continue Reading
The lack of growth in shale production, currently inching higher but primarily from DUC- Drilled but Uncompleted wells, has been largely attributed to capital discipline. Shale companies have spoken almost Continue Reading
Last month BP released its Statistical Review of World Energy 2021 . The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Continue Reading
New Mexico broke an oil production record in May, pumping an average 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports , citing government Continue Reading
New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic. (Bloomberg) — New Mexico’s oil Continue Reading
New Mexico’s oil production surged to a record in May, lifting output to the second-highest in the nation and highlighting the Permian Basin’s role in leading the shale industry’s rebound Continue Reading
The number of oil and gas rigs in the United States fell by 3 this week, according to Baker Hughes , which reported the total rig count as 488, up Continue Reading
Highlights CEO details decarbonization plans after climate pushback Woods takes cautious tone, saying projects will take time ExxonMobil pumped 400,000 b/d of oil equivalent from the Permian Basin in Q2 Continue Reading
Highlights Permian count drops 6, Eagle Ford down 3 Haynesville activity highest since 2019 Strong gas prices could test producer discipline The US oil and gas rig count fell five Continue Reading
Summary of Weekly Petroleum Data for the week ending July 23, 2021 U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending July 23, 2021 Continue Reading
Europe’s top energy companies signalled confidence in a lasting recovery from the pandemic impact by drawing on higher oil prices to boost shareholder returns and reassure investors as they roll Continue Reading
U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp (HES.N) said on Wednesday, sticking to its spending plan despite rising demand to Continue Reading
Highlights US crude exports average 2.489 million b/d last week: EIA Flows to Europe estimated at 678,000 b/d: Kpler Tight exports economics could hamper flows into August US crude exports Continue Reading
U.S. crude stockpiles last week fell to their lowest since January 2020 as imports and production dropped, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) fell by 4.1 Continue Reading
Highlights Pilot planned on two blocks Project seen opening new opportunities in shale play YPF also to invest in tertiary recovery YPF, the biggest oil producer and second for natural Continue Reading
A highly anticipated review by the U.S. Interior Department of the federal oil and gas leasing program is undergoing final internal review and should be released “very soon,” Interior Secretary Continue Reading
