US Oil Output Continues its Steady Decline
All of the oil (C + C) production data for the US states comes from the EIAʼs Petroleum Supply Monthly (PSM). At the end, an analysis of three different EIA Continue Reading
Oil Market Could See Long Term Contango
The oil market could stay in a state of contango for longer after supply and demand finally balance due to the vast amount of crude and products in storage, Reuters Continue Reading
Three Key Events In The Global Oil Patch
Three Events to Watch in the Global Oil Patch First, while the markets are again overly obsessed with OPEC news (particularly in the aftermath of an oil price war), all Continue Reading
Oil Explorers Revert to Pre-Shale Drilling Level Across U.S.
Oil explorers are drilling at the slowest pace in more than a decade as the pandemic-driven collapse in energy demand wipes out cash flow, jobs and even entire companies. Drillers idled Continue Reading
Oil And Gas Rig Count Falls For Ninth Straight Week
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 17, falling to 301, with the total oil and Continue Reading
The Shale Bust Has Arrived
1. Shale bust is here – Shale wells decline somewhere between 70 and 90 percent from their initial peak within 3 years, with the bulk of that decline coming within Continue Reading
Producers turn to hedging as shelter against oil market turmoil
US shale oil producers have moved in droves during the last couple of months to protect themselves from current market turmoil by hedging, using a variety of derivative instruments to Continue Reading
U.S. pipeline operator Energy Transfer warns of coming job cuts
U.S. pipeline operator Energy Transfer will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. Marshall Continue Reading
Oil Explorers Revert to Pre-Shale Drilling Level Across U.S.
Oil explorers are drilling at the slowest pace in more than a decade as the pandemic-driven collapse in energy demand wipes out cash flow, jobs and even entire companies. Drillers Continue Reading
Oil-Bust Refugees Are Being Courted By Clean Energy in Texas
Jeff Bishop’s LinkedIn post gets right to the point: “Houston Oil & Gas Folks — we’re hiring in Texas” for jobs in clean tech. His company, battery developer Key Capture Energy, Continue Reading