Shale outlook discussed at Tuesday OPEC technical meeting U.S. output growth seen at about 200,000 bpd in 2021 Capital discipline remains focus for shale companies, OPEC told OPEC meets to Continue Reading
Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo June 18 (Reuters) – U.S. energy firms Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 470 as U.S. drillers Continue Reading
After years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracking industry seems to have found a sweet spot. (Bloomberg) — Marathon Continue Reading
Crude storage tanks that were brimming a year ago when the pandemic grounded flights and kept drivers at home are beginning to empty in the main U.S. distribution hub, the Continue Reading
There are a number of observable trends in oil supplies and by extension prices, presently. I am going to discuss one of them in this article. A lack of capital Continue Reading
The energy transition should not crowd out any source of energy as all energy sources of today will be required for the foreseeable future, OPEC Secretary General Mohammad Barkindo said. Continue Reading
U.S. shale producers are expected to generate a combined $30 billion in free cash flow in 2021 amid disciplined capital spending and higher oil prices, estimates from Bloomberg Intelligence show. Continue Reading
Natural gas-oriented rigs surge 6 to 135 Haynesville, Marcellus counts mostly static Eagle Ford grows 4 to 41 rigs The US oil and gas rig count jumped 7 to 567 Continue Reading
U.S. President Joe Biden’s administration has the power to stymie oil and gas development on government-controlled lands and waters, industry and environmental experts said, even though a court decision ended Continue Reading
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said. Prince Abdulaziz bin Salman, who’s been warning Continue Reading
Oil and gas producer EP Energy, which emerged from bankruptcy last year, has received takeover bids from private equity firms including EnCap Investments and Quantum Energy Partners, four people familiar Continue Reading
As oil climbs above $70 a barrel for the first time in almost three years, oilfield firms are reporting prices for their services and equipment have bottomed and many are Continue Reading
U.S. crude oil stockpiles dropped sharply last week as refineries boosted operations to their highest since January 2020, signalling continued improvement in demand, the Energy Information Administration said on Wednesday. Continue Reading
Back in 2013, the world’s largest private-sector coal company, Peabody Energy (NYSE:BTU), pulled off a new trick from the ever-growing trove of corporate subterfuge. Peabody created a new entity that Continue Reading
President Joe Biden’s plans to curtail fossil fuels hit an early roadblock Tuesday, when a federal judge ruled against the administration’s temporary ban on selling new drilling rights on federal Continue Reading
A cadre of oil companies, seeing continued profits in shale, are mulling Royal Dutch Shell’s (RDSa.L) holdings in the largest U.S. oil field as the European giant considers an exit Continue Reading
U.S. oil output from seven major shale formations is expected to rise by about 38,000 barrels per day (bpd) in July to about 7.8 million bpd, the highest since November, Continue Reading
Shell may put up for sale all of its acreage in the Permian in the latest step of a low-carbon push that was most recently spurred by a court ruling Continue Reading
NOTE: 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 Continue Reading
In its latest Monthly Oil Report, the IEA called on OPEC+ to increase production in order to counter higher demand in 2022. The agency claimed that, based on current global Continue Reading
Remote work was one of the changes bestowed upon us by the pandemic—and it may turn into a long-term trend. This trend was most visible in office jobs, but it Continue Reading
Oil giant Royal Dutch Shell is reviewing its holdings in the largest oil field in the United States for a possible sale as the company looks to focus on its Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 461 as U.S. drillers Continue Reading
The world hit a transport milestone in 2017, though most people wouldn’t have noticed it at the time. That year, consumers bought more than 85 million automobiles, a sales volume that Continue Reading
Occidental Petroleum Corp (OXY.N) said on Thursday it would sell some of its acreage in Texas’ Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for Continue Reading
The US oil and gas rig count climbed eight to 560 in the week ended June 9, rig data provider Enverus said June 10, as the number of oil-focused rigs Continue Reading
The number of earthquakes rattling the U.S. shale patch is growing exponentially as producers pump massive amounts of dirty water from their oil and gas wells back underground. Tremors registering at Continue Reading
Rising oil prices are encouraging U.S. shale producers to put up for sale non-core assets to streamline operations and reduce debt. Property sales have accelerated this year as exploration and Continue Reading
Highlights Gasoline stocks climb 7.05 million barrels Implied gasoline demand hits 12-week low Crude stocks fall 5.24 million barrels US refined product inventories were sharply higher in the week ended Continue Reading
Exxon Mobil Corp (XOM.N) ‘s oil wells in part of a marquee U.S. shale field generated fewer barrels per well as it ramped up overall spending and production, according to Continue Reading
When Exxon Mobil Corp. decided to get out of a big oil field in Iraq, the government took on the unusual role of salesman. Iraqi officials pitched West Qurna-1 to likely buyers Continue Reading
EIA again boosts US summer gasoline demand outlook US oil output to rise to 11.8 mil b/d by next year OPEC production expected to rise to 28 mil b/d by Continue Reading
Growing demand in Asia means that the age of oil isn’t over yet, although consumption in developed western economies has trended lower over the past decade, according to Karin Kneissl, Continue Reading
As the prices of steel, cement and other raw materials climb higher and higher amid tightening supply, drillers in the U.S. shale patch are facing higher production costs, Bloomberg reports Continue Reading
A recovery in the price of oil to more than two-year highs is offering a long-awaited opening to companies and private equity firms to shed unloved assets in the U.S. Continue Reading
The world is past peak coal consumption and may reach peak oil consumption within the next ten years, Alexei Kudrin, the head of the Russian Accounts Chamber, told media this Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell this week, bringing the total rig count to 456—still a more than Continue Reading
BlackRock, the world’s largest asset manager, will continue to work with oil and gas firms in order to help them through the energy transition, Reuters quoted chief executive Larry Fink Continue Reading
Highlights Commercial crude stocks fall 5.0.8 million barrels Refinery net inputs rise 2.4% USAC gasoline stocks remain tight despite build US crude oil inventory declines extended in the week ended Continue Reading
The energy-rich region of the southwestern U.S. known to geologists and fossil fuel enthusiasts as the Permian Basin has expanded its production more quickly than any other oil and gas Continue Reading
Small U.S. oilfield service companies are selling equipment and shutting their doors as business activity shrank last year and contract prices have remained below profitable levels despite oil-price gains. The Continue Reading
After last year saw some huge deals in the U.S. shale space, with ConocoPhillips merging with Concho Resources and Chevron buying Devon Energy, among others, it looks that this year Continue Reading
“This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil Continue Reading
All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM . The charts below are updated to March Continue Reading
It was a historic week for the oil industry, potentially marking a turning point, at least for the corporate strategies of the oil majors. More curbs on the supply side Continue Reading
Storing for the future or for the now? As economies recover from the pandemic, demand should surge, which will dent all the stored up oil sloshing around. Also in this Continue Reading
Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Continue Reading
U.S. crude oil output jumped 14.3% to 11.2 million barrels per day (bpd) in March from 9.8 million bpd in February, the U.S. Energy Information Administration (EIA) said in its Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 again this week, bringing the total rig count to 457—a Continue Reading
