Highlights Completes $1 billion cost-reduction plan Expects US shale sector to ‘slim down’ Committed to oil and gas operations New York — Halliburton is looking to expand its international market Continue Reading
I don’t know who’ll prevail in the U.S. election. But one thing we can probably all agree on is that incumbent leader President Donald Trump has had an extraordinary impact Continue Reading
During a town hall meeting Thursday, Democratic presidential nominee Joe Biden again assured shale producers that he wouldn’t ban fracking if elected. Then, in virtually the same breath, he touted Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 12 to 205—a gain that may push prices down further. The total number Continue Reading
Illinois approved this week the plan for the Dakota Access Pipeline to double its capacity from 570,000 bpd to 1.1 million bpd, thus becoming the last state along the pipeline’s Continue Reading
396,000 marginal stripper oil wells produced 284 million barrels of oil in 2016 in the United States. So who really gives a rats ass, right? All of the US shale Continue Reading
ConocoPhillips is nearing a deal to acquire Concho Resources Inc. , according to people familiar with the matter, in what could be the largest shale industry deal since the collapse Continue Reading
The world’s largest oilfield services provider, Schlumberger ( NYSE: SLB ), reported on Friday its third consecutive quarterly loss this year as exploration and production companies drastically reduced demand for Continue Reading
Global oil demand is forecast to peak by around 2040 because transport-fuel demand will decline steeply and economic growth will slow in the post-coronavirus world, the Institute of Energy Economics, Continue Reading
In today’s IEA’s annual World Energy Outlook 2020 report, the OECD energy watchdog states that it doesn’t see a peak oil demand before 2040, only a possible oil demand flattening. Continue Reading
US crude stocks moved lower last week as Hurricane Delta shut in Gulf of Mexico output and exports hit a 14-month low, US Energy Information Administration data showed Oct. 15. Continue Reading
The Trump administration on Thursday said it would offer all available areas in the Gulf of Mexico for auction to oil and gas drillers on Nov. 18, the first major Continue Reading
Democrat members of the House Natural Resources Committee are pushing for a permanent ban on all offshore oil and gas leasing in Atlantic and Pacific federal waters as well as Continue Reading
The US shale sector could be on a path to recovery after a destructive boom-bust period, with plentiful opportunities still available, but a more disciplined approach is needed, executives from Continue Reading
Low oil prices, lower credit availability, and piling debt loads forced a few dozen oil and gas firms in North America to file for bankruptcy protection in the third quarter. Continue Reading
The report paints a picture of contracting supply, forecasting a four-million-barrel-a-day drop in inventories in the fourth quarter of this year from the third. But that change in inventories is Continue Reading
View full article at www.eia.gov
Chevron CEO Mike Wirth on Oct. 13 defended the company’s commitment to shale and said its upstream portfolio would remain weighted toward tight oil and gas, with fewer large, non-shale Continue Reading
As the oil price dropped through the first and second quarters of this year, oil companies closed in wells and laid off drilling and fracking crews. Activity bottomed in late Continue Reading
Oil production from the seven largest shale formations in the United States is set to decline 121,000 barrels next month, the Energy Information Administration (EIA) said on Tuesday in its Continue Reading
A fracking binge in the American shale industry has permanently damaged the country’s oil and gas reserves, threatening hopes for a production recovery and US energy independence, according to one Continue Reading
The U.S. oil industry faces a bumpy road to recovery from the steepest slump in oil demand in history. Oil demand in the United States and elsewhere is still trailing Continue Reading
The U.S. Bureau of Safety and Environmental Enforcement (BSEE) said 91% of offshore crude oil production remains shut in the U.S.-regulated northern Gulf of Mexico following Hurricane Delta, which made Continue Reading
U.S. energy companies were returning workers and restarting operations at storm-swept production facilities along the U.S. Gulf Coast on Sunday, two days after Hurricane Delta barreled through the area. Chevron Continue Reading
Last month, the world’s 4 th largest oil company—BP— predicted that the world will never again consume as much petroleum as it did last year. So, have we finally hit Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 4 to 193—a gain that may push prices down further. The total number Continue Reading
1. DVN and EOG exposed to federal lands drilling ban – With Joe Biden leading in the polls, the odds of access to federal lands for U.S oil and gas Continue Reading
For years, Mary Drangstveit could feel the shale boom reverberating in her kitchen. This spring, oil prices crashed and the rattling ceased. t brought relief for her and distress for some Continue Reading
A Guest Post by George Kaplan Overall Annual Production Production is dominated by major international companies particularly, and maybe surprisingly, European ones. Principally Shell and BP, but with Equinor, Eni, Continue Reading
Summary of Weekly Petroleum Data for the week ending October 2, 2020 U.S. crude oil refinery inputs averaged 13.9 million barrels per day during the week ending October 2, 2020 Continue Reading
As the presidential election approaches, I am increasingly seeing claims that President Trump put the U.S. back on top as the world’s leading oil producer. So, let’s take a closer Continue Reading
About 80% of US Gulf of Mexico oil production was offline late Oct. 7, with more expected to come down in advance of Hurricane Delta. Receive daily email alerts, subscriber Continue Reading
US crude inventories edged higher in the week ended Oct. 2 as rising production met a slowdown in exports, US Energy Information Administration data showed Oct. 7. Receive daily email Continue Reading
The oil pipeline will run from Midland to Crane, Texas. Centurion Pipeline L.P. reported Tuesday that its Augustus Pipeline project in the Permian Basin is on schedule and slated to Continue Reading
The world as we know it would not exist without oil. It powers our economy, turbocharged the industrial revolution, and allowed us to travel across the world in a matter Continue Reading
Forecast Highlights Winter Fuels Outlook EIA forecasts that average household expenditures for all major home heating fuels, except heating oil, will increase this winter largely because of higher expected energy Continue Reading
Large pipeline operators in the U.S. shale patch are reducing fees to keep their upstream customers shipping crude from the Texas oilfields to the U.S. Gulf Coast amid a decline Continue Reading
Oil and gas workers withdrew en masse from offshore production facilities as Hurricane Delta grew into a powerful storm over the Caribbean on its way to the Gulf of Mexico. Continue Reading
It is the crown jewel of the U.S. shale industry, but it’s in crisis. Thousands of layoffs, numerous bankruptcies, canceled land auctions, plummeting rig counts, and fewer fracking crews have Continue Reading
As much as 70 percent of the more than 100,000 jobs lost in the U.S. oil, gas, and chemicals industries due to the pandemic may not return by the end Continue Reading
US Gulf offshore oil and gas producers began evacuating personnel Oct. 5 ahead of Tropical Storm Delta, which is expected to enter the area as a hurricane before making landfall Continue Reading
Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP. The collapse Continue Reading
It’s been a bad few years for investors in shale companies, but a pretty good few years for shale company CEOs. The leaders of U.S. shale companies received some of Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 189—a gain that may push prices down further. The total number Continue Reading
Hurricane Laura, which stormed through the U.S. Gulf of Mexico at the end of August, forced shut-ins of an estimated 14.4 million barrels of crude oil during the two weeks Continue Reading
Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies Continue Reading
Eagle Ford producer Lonestar Resources filed for bankruptcy protection under Chapter 11 this week, becoming the latest casualty in the string of bankruptcies in the U.S. shale patch this year. Continue Reading
The state of Texas and its taxpayers could be on the hook for paying up to US$117 billion for the cleaning-up of abandoned wells as a growing number of U.S. Continue Reading
The US oil and gas rig count jumped 18 to 326 in the week ended Sept. 30, rig data provider Enverus said, marking a second consecutive week of double-digit gains 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
