Smaller, slower and more profitable. These are the watchwords for Chesapeake Energy as it emerges from bankruptcy. Free of the colossal liabilities that sank it as the pandemic slashed global Continue Reading
Gas flaring in the largest U.S. shale plays has been in the spotlight since the shale revolution started. Pressure from society and ESG investors have recently turned up the heat Continue Reading
US crude oil inventory draws likely extended in the week ended Jan. 29 amid an uptick in export activity, an S&P Global Platts analysis showed Feb. 1. Receive daily email Continue Reading
Texas Governor Greg Abbott announced that he has issued an executive order relating to the protection of Texas’ energy industry from federal overreach. Texas Governor Greg Abbott announced that he Continue Reading
The U.S. oil industry has a message to President Joe Biden’s recent climate executive orders involving the oil and gas sector—restricting America’s oil production would increase its reliance on foreign Continue Reading
We’ve known for decades that in order to curb the impact of perpetually rising carbon emissions, we would have to radically disrupt the machinations of global industry and change the Continue Reading
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
U.S. oil prices above $50 a barrel are helping the shale patch to generate more cash flow, especially after the massive capital spending cuts last year. But higher prices are Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 6 to 384. The oil and gas rig count has risen Continue Reading
It’s the oddest of odd couples, yet understandable. According to a Reuters exclusive , the U.S. oil industry is teaming up with the U.S. corn industry to defeat a common Continue Reading
A temporary ban on oil and gas drilling across federal lands and waters will exclude tribal lands, the White House said in a fact sheet released yesterday, after some Native Continue Reading
More restrictive oil and gas leasing, permitting and drilling on US federal lands and waters proposed by the Biden administration cast a wide net, but lack critical details and the Continue Reading
Lance Wilbanks was looking forward to a rebirth for his trucking company, which saw its business hauling drilling rigs across southeastern New Mexico drop from around two dozen a month Continue Reading
Republican senators from oil-producing states introduced legislation on Thursday that would block the Biden administration’s order pausing new oil and gas leasing on federal lands. The bill, introduced by Senator Continue Reading
The Office of the Comptroller of the Currency (OCC) is pausing the publication of a rule that would make large American banks unable to deny lending money to oil and Continue Reading
President Joe Biden’s new moratorium on oil and gas lease sales will indefinitely postpone all lease sales previously scheduled under the Trump administration for both onshore acreage and for parcels Continue Reading
Efforts to curtail financing of international fossil fuel infrastructure development received a substantial boost from the Biden administration’s broad climate executive order rolled out Jan. 28. Receive daily email alerts, Continue Reading
President Joe Biden’s temporary halt to drilling on federal lands leaves the vast majority of U.S. crude production untouched, though it may be the death knell for the Gulf of Continue Reading
The “supermajor” oil companies collectively known as Big Oil are having a time of it , in large part because of the pandemic, obviously, but also because we are swiftly Continue Reading
Highlights Commercial crude stocks fall 9.91 million barrels Exports up 49%, imports down 16% Gasoline stocks climb as demand slows New York — US crude oil inventories moved sharply lower Continue Reading
The more your firms are seen to embrace the climate transition and the opportunities it brings, the more the market will reward your firms with higher valuations. – Larry Fink, Continue Reading
The idea that crude oil could ever again hit three-digit price levels may sound ridiculous at a time when slack demand amid a pandemic has oil stuck in the $50s. Continue Reading
Following an unpredictable and shocking 2020, stability and sustainability are set to be the two major themes in the oil and gas industry this year. Companies in the sector will Continue Reading
The oil industry is emerging as a primary target of President Biden’s climate policy, setting the stage for a confrontation that could shape the future of the energy sector. The president is Continue Reading
The combined debt of North American E&P and oilfield service companies that filed for Chapter 11 bankruptcy protection last year jumped to $102 billion, surpassing the $100 billion mark for Continue Reading
As much as 40% of the natural gas that’s expected to be flared in the Permian Basin in 2025 could be avoided at no cost to drillers if regulators abandoned Continue Reading
The moratorium on new oil and gas leases on federal lands and waters that President Biden is expected to announce Jan. 27 would hurt US production and pick winners and Continue Reading
Since its discovery in 1859, oil has been the main source of energy and main source of income for many countries. The finite resource was subject to major hits in Continue Reading
US shale producers, suddenly enjoying a rare period of profitability thanks to rising oil prices, are starting to worry that “bad actors” in the sector will spoil the rally with Continue Reading
President Biden is poised to impose a moratorium on new federal oil and gas leasing Wednesday, according to three individuals briefed on the matter who spoke on the condition of anonymity because the Continue Reading
The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic has already subsided to pre-Covid-19 levels in the US, a Rystad Energy analysis shows. Continue Reading
US crude oil inventory draws likely resumed during the week ended Jan. 22 as refinery runs continued to normalize, an S&P Global Platts analysis showed Jan. 25. Not registered? Receive Continue Reading
President Biden on Wednesday will direct federal agencies to determine how expansive a ban on new oil and gas leasing on federal land should be, part of a suite of Continue Reading
Oil stocks tumbled following yesterday’s one-two punch of Biden energy news, when first we learned that the Interior Department enacted a 60-day moratorium on issuing oil and gas leases that Continue Reading
The companies that carry out the oil industry’s grunt work have signaled that the worst crash in decades is over but cautioned that the sector was still many months away Continue Reading
A post by Ovi at peakoilbarrel Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Continue Reading
The largest oilfield services provider, Schlumberger ( NYSE: SLB ), reported on Friday better-than-expected earnings for the fourth quarter and, like its rivals Halliburton and Baker Hughes, expects spending and Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 to 378. The oil and gas rig count has risen Continue Reading
Lower crude oil and natural gas prices reversed in 2019 a two-year trend of record high proved reserves in the United States as operators revised down their total proved reserves Continue Reading
Last year was tough for the global oil industry as the COVID-19 pandemic and an ongoing oil supply glut rocked petroleum-dependent emerging economies, notably in South America, to their core. Continue Reading
U.S. President Joe Biden’s promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have Continue Reading
Oilfield services provider Baker Hughes ( NYSE: BKR ) booked its first quarterly net profit since oil prices crashed in March, reporting on Thursday a net income of $653 million Continue Reading
The US oil and gas rig count rose by six to 430 in the week ending Jan. 20, rig data provider Enverus said, as indicators ahead of the quarterly round Continue Reading
The US Interior Department on Jan. 20 put new oil and gas lease sales and permits on federal lands and waters on hold for 60 days, according to an order Continue Reading
U.S. shale changed global oil markets. It shook the foundations of OPEC as the one single swing producer group. And last year, it crumbled under the weight of the pandemic Continue Reading
The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE), Reuters 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 rigs and well completions. Continue Reading
US crude oil inventories likely declined during the week ended Jan. 15 as exports remained steady, an S&P Global Platts analysis showed Jan. 19. Total commercial crude oil stockpiles are Continue Reading
US well completions activity should help to drive oilfield services growth in 2021, with more activity seen in Latin America and Asia as well, Halliburton’s CEO said on an earnings Continue Reading
Halliburton Co on Tuesday predicted a recovery in the global oil and gas industry from the second quarter after the oilfield services provider beat profit estimates on cost cuts and Continue Reading
