Why Oil Majors Are Going All-In On U.S. Shale
Chevron sold off much of its assets in the North Sea, no longer viewing the region as a high priority. Ithaca Energy, backed by Israel-based Delek, agreed to buy Chevron Continue Reading
Analysis: US gasoline stocks rise as implied demand stumbles
US gasoline inventories climbed 2.2 million barrels last week to 230.94 million barrels despite a drop in production, suggesting lower demand, data released by the Energy Information Administration showed Thursday. Continue Reading
Floods Threaten America’s Largest Oil Hub | OilPrice.com
Major flooding in the Midwest has interfered with crude oil flows from the country’s main storage hub in Cushing, Oklahoma, temporarily pushing prices higher, Reuters reports. “Flooding seems to have impacted distribution Continue Reading
Only 10% Of U.S. Shale Drillers Have A Positive Cash Flow
Nine in ten US shale oil companies are burning cash, according to Rystad Energy. Rystad has studied the financial performance of 40 dedicated US shale oil companies, focusing on cash Continue Reading
US Shale Companies are Burning through Cash
About nine in 10 U.S. shale companies are tremendously overspending, according to new analysis by Rystad Energy. Just about 10 percent of U.S. shale companies had a positive cash flow Continue Reading
Shale Drillers Keep On Falling Into The Same Trap
Despite the hype of lower breakeven prices , and despite the hype around longer laterals, energy digitalization, and other technological breakthroughs, most shale companies are still not profitable. In fact, Continue Reading
Occidental to sell parts of Anadarko after debt-fueled acquisition
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. It also quadrupled Continue Reading
As North Dakota oil soars, so does waste of natural gas
North Dakota oil drillers are falling far short of the state’s goals to limit the burning of excess natural gas at wellheads, five years after the state adopted the rules Continue Reading
Texas Oil, Gas in Expansion Mode Despite Flat Activity
Texas oil and gas operators are proving they can produce more crude with fewer resources, according to the Texas Petro Index. Texas crude oil production continues to break records in Continue Reading
Exxon, Others Leading High-Impact Drilling Rebound
High-impact drilling is rebounding amid a changing competitive landscape. Large oil and gas companies are commanding a greater role in high-impact exploration, but a lack of depth in the quality Continue Reading