Private Equity Follows the Money—and the Money Is Ditching Fossil Fuels
The buyout industry has long been a major backer of fossil-fuel deals. Now it’s rolling out new green asset funds at a record clip in a bid to lure the Continue Reading
Oil Markets Will Tighten Regardless Of OPEC’s Decision
The oil market is tightening and will continue to draw down inventories for the rest of the year. This drawdown is largely due to OPEC+ offering less supply than the Continue Reading
Record Decline In U.S. Crude Stockpiles Fuels Oil Rally
Surging U.S. fuel demand amid stagnant domestic crude oil production is drawing down American crude inventories at the quickest pace in nearly 40 years. The record-fast decline in U.S. oil Continue Reading
US April Oil Production Flat
All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM . After the production charts, an analysis of Continue Reading
High Oil Prices Send U.S. Refiners Scouring for Alternatives
Skyrocketing crude oil prices have prompted cash-strapped U.S. refiners to look for alternative ways to maximize gasoline production during the peak of the summer driving season. The fuel-makers are buying Continue Reading
Oil And Gas Rig Count Jumps As Oil Nears 3-Year High
The number of oil and gas rigs in the United States is up 5 this week, according to Baker Hughes , with the total rig count holding fast at 475, Continue Reading
U.S. Crude Oil Inventories Are Drawing Very Fast
The U.S. oil market is tightening as commercial crude inventories are declining at a fast clip and driving wider time spreads in the WTI Crude futures curve. The curve is Continue Reading
Analysis: Oil companies bet on $100 a barrel as they rush to sell assets
Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in Continue Reading
Runaway Oil Spreads Flash Warning for U.S. Crude Inventories
The U.S. oil futures curve is pointing to a tightness the market hasn’t seen in years, sparking concerns of the potential for sharp inventory drawdowns. The three nearest so-called timespreads Continue Reading
Group caps abandoned wells to cut methane emissions
The stench bellows from the 1,500-foot hole in the ground, the remains of a well long ago abandoned by a bankrupt oil company. Despite its rotten-egg smell, the culprit is Continue Reading
Shadow Lenders Take Over In The U.S. Shale Patch
Banks have started to cut their exposure to the U.S. shale patch, seeing more than 100 producers and oilfield services firms go bust last year and feeling the environmental, social, Continue Reading
Oil Prices Spike On Large Crude Inventory Draw
Crude oil prices jumped higher today after the Energy Information Administration reported an inventory decline of 6.7 million barrels for the week to June 25. This compares with a draw Continue Reading
Goldman Sachs: Oil Markets To See Deficit Of 5 Million Bpd By End 2021
The oil market will end 2021 in a deficit of 5 million bpd as demand grows by another 2.2 million bpd in the second half of the year, Goldman Sachs Continue Reading
Big Oil’s Digital Pivot Marks The Beginning Of A New Era For The Industry
The oil and gas industry is embracing new technologies to save time and costs and, most recently, to reduce the carbon footprint of its supply chain as the energy sector Continue Reading
Chevron to sell some Permian assets valued at more than $1 bln -sources
Chevron Corp (CVX.N) is looking to sell two collections of conventional oil and gas fields in the Permian Basin valued at more than $1 billion combined, three sources told Reuters. Continue Reading
Goldman says more OPEC+ supply needed to balance oil market
Goldman Sachs Commodities Research said more oil production is needed from the Organization of the Petroleum Exporting Countries and allies (OPEC+) to balance the market by 2022 as supply risk Continue Reading
U.S. Oil Inventories Fall For Sixth Straight Week
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 8.153-million barrels for the week ending June 25. Analysts had predicted a draw of 4.686 Continue Reading
How Last Century’s Oil Wells Are Messing With Texas Right Now
Ranchers and regulators are contending with uncontrolled leaks from thousands of abandoned oil and gas sites that could render some land “functionally uninhabitable.” Water testing crews looking for contaminants collect Continue Reading
Old, small and CO2-intense: why Canada’s highest-carbon oil sands sites keep pumping
In the shadow of Canada’s mega oil sands projects, smaller, technologically outdated facilities produce up to three times more emissions per barrel than the already high sector average- and rising Continue Reading
U.S. shale industry tempers output even as oil price jumps
A pump jack operates in the Permian Basin oil and natural gas production area near Odessa, Texas, U.S., February 10, 2019. Picture taken February 10, 2019. REUTERS/Nick Oxford/Files Oil price Continue Reading
Number Of U.S. Drilled But Uncompleted Wells Drops 27% In A Year
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has declined by 27 percent since the peak in June 2020, the Energy Information Administration (EIA) has Continue Reading
U.S. Shale Producers Stick To Output Discipline
Despite a strong rebound in oil prices, seeing them hit three-year highs, U.S. shale oil producers are sticking to their output discipline, Reuters reports , citing rig count data and Continue Reading
US shale patch resists temptation for new drilling rush
The US shale patch is holding back on big production boosts despite bumper profits and surging crude prices, as executives seek to avoid being punished again for responding with rapid Continue Reading
Oil Survey Reveals a Divide on When Global Demand Will Peak
Goldman’s Currie on Favorite Commodity: Oil, Oil and More Oil The accelerating shift to cleaner energy poses a challenge for global oil demand in the next decade, according to a Continue Reading
The Return Of Oil
BARELY 14 months ago, oil traders were paying almost $40 to anyone willing to accept delivery of a barrel of crude by the end of May 2020. Such had been Continue Reading
The Dawn Of A New Era For U.S. Shale
Higher oil prices and capital expenditure discipline are setting the stage for the highest free cash flow on record for the world’s exploration and production companies this year. And U.S. Continue Reading
Annual Reserve Revisions Part IV: Shale Producers
This follows on from Part I, which looked at EIA reserves and revision estimates for US as a whole and the GoM, and concentrates on the on-shore tight oil and Continue Reading
U.S. shale industry tempers output even as oil price jumps
Oil price gains raise the ante but shale producers sit pat Restraint gives OPEC room to add more oil to global market Biggest shale firms focus on improving returns, not Continue Reading
Wastewater Problem Could Cap U.S. Shale Growth
Hydraulic fracturing, the technology that made the United States the world’s top oil and gas producer, has earned a really bad rap. Much of this ill reputation has had to Continue Reading
Next 2 Weeks Will Be Extraordinarily Tight for Oil
The next two weeks ahead of the OPEC+ policy meeting on July 1 will be extraordinarily tight for the oil market, according to Rystad Energy. The next two weeks ahead Continue Reading
U.S. drillers add oil and gas rigs for 11th month -Baker Hughes
U.S. energy firms kept the number of oil and natural gas rigs unchanged this week but added rigs for an 11th month in a row as some drillers returned to Continue Reading
Oil Rig Count Falls As U.S. Drillers Exercise Caution
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States stayed the same this week, with the total rig count holding fast at Continue Reading
$70+ Oil Prompts Concerns in Oilfield Services
Here is a look back at oil and gas market hits and misses for the week ending June 25, 2021. (The views and opinions expressed in this article are those Continue Reading
USA Crude Hub Stocks Seen Falling to Historic Lows
Crude oil inventories in America’s largest storage hub could fall to historically low levels by the end of September as the demand rebound continues to outpace production. (Bloomberg) — Crude Continue Reading
U.S. Shale Eyes A $60 Billion Year
Oil execs and producers are historically pretty good at making money. Oil is a roller coaster of an economic sector, based on a boom-and-bust model. Bankruptcy and insolvency are not Continue Reading
Oil And Gas Companies Set For Record Free Cash Flow This Summer
With oil trading above $70 per barrel while investment activity remains low, the world’s publicly traded exploration and production (E&P) companies are set to generate record-breaking free cash flows (FCF) Continue Reading
New Mexico Oil Output Recovers To Pre-Pandemic Levels
New Mexico has become the first major oil-producing state to see its production rate rebound to pre-pandemic levels, but according to legislative analysts cited by the AP, the situation remains Continue Reading
US oil, gas rig count jumps 10 to 577, amid more signs of oil demand recovery
Oil rigs, horizontal oil rigs up 16 each to 448/335 Bakken Shale gains four rigs, for total of 23 Upstream optimism may be greater than forecast The US oil and Continue Reading
Oil Edges Higher With Shrinking Stockpiles Tightening Market
Oil edged higher above $73 a barrel in New York as falling stockpiles in the U.S. and China added to bullish sentiment around the global demand recovery. Gasoline inventories in Continue Reading
Oil Climbs Higher On Bullish EIA Data
Oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 7.6 million barrels for the week to June 18. This compared with a Continue Reading
Dallas Fed: Oil And Gas Sector Is On Fire
The oil and gas sector continued its strong growth in Q2, according to executives polled by the Dallas Fed in its most recent survey published on Wednesday. The survey’s broadest Continue Reading
Interior sec’y says no plan ‘right now’ to ban new oil, gas leasing
U.S. Interior Secretary Deb Haaland on Wednesday told a congressional hearing that there is no plan to permanently ban new oil and gas drilling on federal land but her agency Continue Reading
Summary of Weekly Petroleum Data for the week ending June 18, 2021
Weekly Petroleum Data for the week ending June 18, 2021 U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending June 18, 2021 which was Continue Reading
US gasoline stocks see unexpected draw amid strong demand, weaker imports
Highlights Gasoline stocks fall 2.93 million barrels Demand tests pre-pandemic highs Crude stocks fall amid rising demand, sideways production US gasoline inventories saw an unexpected decline in the week ended Continue Reading
Most US upstream execs expect global oil supply gap by 2025: Dallas Fed survey
Highlights OPEC is ‘back in the driver’s seat’ on balancing market Oil, gas activity strong in Q2 but cost pressures rising Execs predict $70/b WTI, $3.10/MMBtu gas at end-2021 Underinvestment Continue Reading
Some Denver Gas Stations Ran Short of Fuel in Supply Chain Kink
Dozens of gasoline stations in Denver and southern Colorado ran dry last weekend as a shortage of truck drivers and pipeline work delayed fuel supplies. “It was enough of an Continue Reading
Why U.S. Shale Won’t Derail The Oil Rally
For the first time in nearly a decade, OPEC has solid reasons to believe that its control over the global oil supply will not be ruined by a surge in Continue Reading
US crude oil inventory draws likely extend as refinery runs push higher
US crude stocks expected 6.3 million barrels lower Refinery utilization expected at December 2019 levels Gasoline, distillate stocks likely build US crude oil inventory draws likely extended during the week Continue Reading
Everyone Wants to Sell the Last Barrel of Oil
A final victory last week over the Keystone XL pipeline is a reminder that fighting particular fossil-fuel projects is a necessary strategy if the climate is to be saved. The Continue Reading
OPEC Doesn’t Expect More U.S. Shale Oil Production
Despite $70 oil, U.S. shale producers are not expected to significantly raise crude production this year as they continue to be focused on disciplined capital expenditures and returning more cash Continue Reading