The long-awaited consolidation in the U.S. shale patch is well underway, with several high-profile multi-billion-dollar deals announced in the span of just a few weeks. Analysts say that the mergers Continue Reading
Apache intends to step up its exploration and development plans off the coast of Suriname, as its operations and activity in the US Permian Basin remain scaled back through the Continue Reading
U.S. crude oil refinery inputs averaged 13.6 million barrels per day during the week ending October 30, 2020 which was 163,000 barrels per day more than the previous week’s average. Continue Reading
Although the Texas upstream oil and gas industry remained in contraction in the third quarter, signs have emerged in employment and rig counts that the sector may have already seen Continue Reading
The TPI tracks metrics such as price, rig count, drilling permits, well completions and employment. The Texas Alliance of Energy Producers revealed this week that its Texas Petro Index (TPI) Continue Reading
The popularity of light sweet crude oil among refiners is growing at a solid clip. The ongoing push to combat climate change and ever stricter regulations over fuel emissions is Continue Reading
Louisiana voters approved a change to the state constitution to allow the presence or production of oil or gas to be taken into account when assessing the fair market value Continue Reading
With the 2020 presidential election looming — and with many claims and counterclaims about a president’s impact on the oil industry — I thought it might be of interest to Continue Reading
A post by Ovi at peakoilbarrel. All of the oil (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM . After Continue Reading
Ahead of what could be an industry-changing presidential election in the US, a Rystad Energy analysis reveals that drilling and fracking activity has accelerated. North American fracking likely peaked in Continue Reading
President Donald Trump has signed an order aimed at protecting the shale oil and gas industry, he said in a tweet. “Just signed an order to protect fracking and the Continue Reading
Highlights More than 500,000 b/d of crude still offline Major Hurricane Eta targeting Nicaragua and Honduras Hurricane season extends through the end of November Nearly 30% of crude oil volumes Continue Reading
Jim Wright, a Republican seeking a seat on a board that regulates the Texas energy industry, knows the agency intimately. He ought to. He’s paid it $181,000 in fines. If Wright Continue Reading
Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 10 to 221. The total number of active oil and gas rigs increased Continue Reading
Devon Energy will soon have enough permits for shale drilling on federal lands to cover its oil and gas production plans in the Permian’s Delaware Basin through 2024, CEO David Continue Reading
The US Gulf of Mexico’s oil and gas volumes and some New Orleans-area refineries are returning after Hurricane Zeta ripped through the region and knocked out power in much of Continue Reading
ExxonMobil has returned all but 140,000 b/d of oil production curtailed during the spring’s oil price crash, and the producer aims to increase output from the Permian Basin next year Continue Reading
New York — The US oil and gas rig count climbed one to 348 in the week ended Oct. 28, rig data provider Enverus said, as gas drilling activity hit Continue Reading
Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the coronavirus pandemic Continue Reading
Behind a low-slung building in Zelienople, Pa., stands a towering mechanical structure where Deep Well Services trains employees in the highly specialized work of completing fracking wells for natural gas. Continue Reading
Summary of Weekly Petroleum Data for the week ending October 23, 2020 U.S. crude oil refinery inputs averaged 13.4 million barrels per day during the week ending October 23, 2020 Continue Reading
If you’re in the camp that is wishfully thinking U.S. oil production will rebound anytime soon north of 13 million barrels per day, U.S. Energy Secretary Dan Brouillette is ready Continue Reading
Two-thirds of the US Gulf of Mexico’s crude oil volumes were shut in Oct. 28 ahead of Hurricane Zeta, which strengthened into a Category 2 storm just hours before an Continue Reading
Chris Wright stands out as an oilman who might be more at home in Silicon Valley than the shale fields of North Dakota. A mountain climber and Massachusetts Institute of Continue Reading
Roughly half of all the oil and gas production from the US Gulf of Mexico was shut in Oct. 27 ahead of Tropical Storm Zeta, which is expected to again Continue Reading
These people said details of the order were still under discussion, and a final decision on whether to even issue it hasn’t been made. White House spokesman Judd Deere declined Continue Reading
The once mighty oil and gas industry is flailing, desperately trying to survive a pandemic that has sharply reduced demand for its products. Most companies have cut back drilling, laid 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 EIA’s International Energy Continue Reading
This month marks a historic but largely forgotten moment in the history of the oil sector, and something that is unlikely to ever be repeated if forecasts for the demise Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 211. The total number of active oil and gas rigs increased Continue Reading
The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high, according to Rystad Energy. The associated debt from North American oil and Continue Reading
The phrase “peak oil” has been getting a lot of airtime in the media lately. One headline scoffs at the idea of peak oil in the near future, while another Continue Reading
Fracking has emerged as a hot button issue of the 2020 election, with President Donald Trump claiming his political rival will cripple the economy in politically important states such as Continue Reading
The US oil and gas rig count rose by 11 to 347 in the week ended Oct. 21, rig data provider Enverus said, marking a second straight week of double-digit Continue Reading
One by one they are starting to fall. The long predicted consolidation wave in U.S. shale players, particularly those with assets in the Permian stacked play, is in high gear. Continue Reading
Fossil fuels still receive most of the international government support provided to the energy sector despite their “well-known environmental and public health damage,” according to new research from Rice University’s Continue Reading
Summary of Weekly Petroleum Data for the week ending October 16, 2020 U.S. crude oil refinery inputs averaged 13.0 million barrels per day during the week ending October 16, 2020 Continue Reading
A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% Continue Reading
There is a war going on. And no, it’s not the one you think. This is a war against energy efficiency. The attack is on two fronts: a battle against Continue Reading
Oilfield services provider Baker Hughes ( NYSE: BKR ) reported a loss for the third quarter, like its competitors Schlumberger and Halliburton, amid lower demand for drilling services and equipment Continue Reading
President Donald Trump told supporters at a rally that Democratic candidate Joe Biden planned to ban all fracking, taking aim at his opponent’s energy plans that would affect one of Continue Reading
More than $14 billion in big Permian deals this week Concho and Parsley were worth 75% more at beginning of 2020 More than 40 US E&P bankruptcies this year A Continue Reading
Baker Hughes remains committed to the oil and gas industry despite its ongoing challenges, but is also looking to grow its business portfolio to support energy transition, the company said Continue Reading
A new study finds ongoing operations and construction in Texas’ pipeline industry provided nearly $49 billion in economic impact last year. Ongoing operations and construction in Texas’ oil and gas Continue Reading
Consolidation in the U.S. shale industry is accelerating, ratcheting up pressure on oil and gas producers to gobble up smaller rivals, analysts and executives said. Pioneer Natural Resources Co, one Continue Reading
Pioneer Natural Resources Co PXD.N said on Tuesday it would buy smaller rival Parsley Energy Inc PE.N for $7.6 billion, including debt. Parsley, focused on the Permian basin, will receive Continue Reading
In a year marked by huge spending cuts across the oil and gas industry amid urgently revised budgets and slashed investments, some analysts are now expecting a light at the Continue Reading
ConocoPhillips agreed to buy Concho Resources Inc. for about $9.7 billion in stock, the largest shale industry deal since the collapse in energy demand earlier this year and one that Continue Reading
Halliburton Company ( NYSE: HAL ), the largest fracking services provider in North America, sees activity across the shale patch stabilizing as it reported another net loss this year due Continue Reading
