The Gas Flaring Crisis In The U.S. Oil Patch
In its relentless pursuit of oil, the shale industry continues to burn more and more gas into the air. The rate of flaring in the Permian basin reached a record Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending May 31, 2019 U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending May 31, 2019, Continue Reading
Oilfield Services Feel The Pain As Crude Prices Drop
Last month, the world’s fourth-largest oilfield services company, Weatherford, said that it would begin financial restructuring to significantly cut its long-term debt of over US$7 billion. Weatherford expects the restructuring Continue Reading
Weatherford Demise Represents Warning To Oil Services Sector
The oil-field services sector is in the tough position of being the first to get hurt when oil prices plunge and the last to profit when a recovery finally happens. Continue Reading
Permian gas flaring hits new record highs for “widespread waste,” pollution
The flaring of natural gas in West Texas’ booming Permian Basin has exceeded previous estimates and is now contributing to far more “widespread waste” and pollution than ever before, according Continue Reading
Is There Really An Oil Shortage?
“I am not sure there is a supply shortage,” Khalid al-Falih, the energy minister of the world’s top oil exporter and OPEC’s largest producer, Saudi Arabia, told Reuters in the Continue Reading
GOM Production Poised to Set New Records
Oil production in the U.S. Gulf of Mexico is poised to set new records in the imminent future. Oil production in the U.S. Gulf of Mexico (GoM) is poised to Continue Reading
Multiple Colorado communities pass drilling permit moratoriums
Highlights Commerce City eyes six-month moratorium Weld County remains largely unscathed Denver — Seven municipalities and one county scattered around the Denver-Julesburg Basin had passed some sort of drilling or Continue Reading
U.S. crude output rises 2.1% in March to near record high: EIA
U.S. crude oil production rose 241,000 barrels per day (bpd), or 2.1 percent, in March to 11.905 million bpd, just below its record high, the Energy Information Administration (EIA) said Continue Reading
Rising Oil Rig Count Pressures Oil Prices Further
The the number of active oil and gas rigs rose slightly in the United States this week according to Baker Hughes, after a string of losses in the weeks prior, Continue Reading