Permian Banks Latest Drag on Texas Economy
The slowdown in Permian Basin oil drilling and fracking is spreading to the lenders as austerity takes hold. The 63 banks and savings associations in the world’s biggest shale field Continue Reading
Banks Get Tough on Shale Loans as Fracking Forecasts Flop
Banks have begun to tighten requirements on revolving lines of credit, an essential lifeline for smaller companies, as these institutions revise estimates on the value of some shale reserves held Continue Reading
U.S. Oil and Natural Gas Wells by Production Rate
Introduction Technological innovation in drilling and production has caused rapid growth in U.S. oil and natural gas production during the past few years. One way of developing deeper insight into Continue Reading
US Sees First Double-Digit Oil Rig Count Increase In 8 Months
The US oil and gas rig count increased by double digits this week, according to Baker Hughes, reaching 813 rigs after increasing by 14 for the week, according to Baker Continue Reading
US Bucks Trend, Adds 18 Oil Rigs
The U.S. has reversed the trend of rig loss to add a net total of 14 rigs this week. Just ahead of the Christmas holiday, the U.S. tacks on 18 Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending December 13, 2019 U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending December 13, 2019, Continue Reading
Devon Energy Sells Barnett Shale Assets for $770MM
Devon Energy Corp. has agreed to sell its Barnett Shale assets to Banpu Kalnin Ventures for $770 million. U.S. independent Devon Energy Corp. has agreed to sell its Barnett Shale Continue Reading
Five things to watch in the oil industry for 2020
The oil market’s biggest nightmare briefly came true in 2019 – an attack that knocked out more than half of all production in Saudi Arabia, the world’s biggest crude exporter. But Continue Reading
Oil Prices Fall As API Reports A Surprise Crude Build
The American Petroleum Institute (API) has estimated a huge surprise crude oil inventory build of 4.7 million barrels for the week ending December 11, compared to analyst expectations of a Continue Reading
Argentina Wants a Fracking Boom. The US Offers a Cautionary Tale
Argentina’s President Alberto Fernandez takes office in the midst of an economic crisis. Like his predecessor, he has made fracking a centerpiece of the country’s economic revival. Argentina has some Continue Reading