Rig Count Plummets As Oil Price War Rages On
Baker Hughes reported that the number of oil and gas rigs in the US plummeted this week by 20, falling to 722, with the total oil and gas rigs clocking Continue Reading
Texas Lawmaker Calls For Oil & Gas Royalty Cuts
As crashing oil prices hit U.S. oil and gas companies, one Texas lawmaker is asking the Department of the Interior to reduce the royalties that firms pay for oil and Continue Reading
Shale drillers slow to scale back volumes as Texas discusses mandatory production cuts
Shale drillers continue to dramatically scale back their spending, but they’re only moderately reducing their crude production volumes as Texas discusses mandatory cutbacks in oil barrels. Receive daily email alerts, Continue Reading
Oil Crash Wipes Out $31 Billion From Industry’s Investment Plans
The global oil and gas industry has slashed at least $31 billion from investment budgets after crude’s epic price crash this month, and more cuts are likely to come. Producers are quickly Continue Reading
Mnuchin Calls for U.S. to Buy as Much as $20 Billion in Oil
Treasury Secretary Steven Mnuchin said he will recommend President Donald Trump ask Congress for as much as $20 billion to keep the Strategic Petroleum Reserve full for a decade. “Let’s go out Continue Reading
Texas Weighs Curtailing Oil Production for First Time in Decades
Texas regulators are considering curtailing oil production in America’s largest oil-producing state, something they haven’t done in decades, people familiar with the matter said. Several oil executives have reached out Continue Reading
U.S. Oil Industry Could End Up Losing More Than 200,000 Jobs
With West Texas Intermediate below $30 a barrel and Saudi Arabia’s plans to keep pumping as much as it can for as long as it can, the U.S. oil industry Continue Reading
How ‘Smart Water’ Could Revolutionize Shale
Conventional wisdom dictates that water and oil do not mix–at least for those of us who are not MIT engineers . But a new discovery could soon turn that clichéd Continue Reading
Saudi ‘Shock And Awe’ Is Crushing Shale Drillers
WTI dropped into the low $20s on Wednesday, and the near-term outlook is grim. Oil lobbyists have pushed Congress for help, and a group of Republican Senators pleaded in a Continue Reading
US GoM 2019 Summary: Part I – Exploration, Drilling and Discoveries
Introduction In many ways the US side of the Gulf of Mexico shows signs of a production basin at the end of life. Most of the sort historic of charts Continue Reading