Is U.S. Shale Circling The Drain?
‘Significant production slowdown’ is all around the headlines about the U.S. shale patch these days. Yet, the headlines have often missed one growing problem in the U.S. oil industry—the abandoned, Continue Reading
Oil Rig Count Plunges To Lowest Level Since 2017
The US oil and gas rig count fell sharply this week, according to Baker Hughes, with a drop of 25 rigs for the week. This week marks nine decreases out Continue Reading
US Rig Count Plummets by 21
The Permian now accounts for more than half of the nation’s total number of active rigs. The U.S. has seen its rig count decline for the second week consecutive week, Continue Reading
Oil Drillers Get $18B Break Thanks to Old Law
The U.S. has forfeited $18 billion tied to oil and gas production in the U.S. Gulf since 2000 because of a decades-old law that gave energy companies a break on Continue Reading
Government Loophole Gave Oil Companies an $18 Billion Windfall
Eddie Seal/Bloomberg The United States government has lost billions of dollars of oil and gas revenue to fossil-fuel companies because of a loophole in a decades-old law, a federal watchdog Continue Reading
Will the Public End up Paying to Clean up the Fracking Boom?
Increasingly, U.S. shale firms appear unable to pay back investors for the money borrowed to fuel the last decade of the fracking boom. In a similar vein, those companies also Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending October 18, 2019 U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending October 18, 2019, Continue Reading
US Shale Operators Can Save $24B Through Well Optimization
Through its analysis of more than 80,000 wells drilled in the Permian and Eagle Ford over the last decade, Deloitte determined the shale industry can save billions of dollars. Well Continue Reading
Investors starve US shale drillers of capital
The money pipeline is running dry for large portions of the US shale oil sector, tipping drillers into bankruptcy and threatening the industry’s breathtaking growth in oil production. Spooked by Continue Reading
API Reports Yet Another Big Oil Inventory Build
The American Petroleum Institute (API) has estimated a crude oil inventory build of 4.45 million barrels for the week ending October 17—compared to analyst expectations of a 2.232-million-barrel build. Last Continue Reading