US Drillers Add Two Oil Rigs
The U.S. added two oil rigs and dropped three gas rigs this week for a net loss of one rig. The U.S. added two oil rigs and dropped three gas Continue Reading
What’s Behind The Mid-Week Oil Price Crash
Oil prices crashed mid-week on news that U.S. crude oil inventories spiked, offering evidence that the oil market is not as tight as expected only a few days ago. U.S. Continue Reading
Apache posts small quarterly loss despite Permian growth
Houston’s Apache Corp. said Wednesday it lost $47 million in the first quarter versus a $145 million profit during the first three months of 2018. Despite the financial loss, Apache Continue Reading
Trump administration to relax offshore safety rules sparked by 2010 Gulf oil spill
The Trump administration unveiled on Thursday its final plan to roll back offshore drilling safety measures put in place by the Obama administration after the fatal 2010 BP Deepwater Horizon Continue Reading
US shale boom has blunted impact of global oil threats
Iran, Venezuela, Libya. The threats to global oil supplies are well known, reading like a laundry list of the world’s hotspots afflicted by sanctions, strife, and civil war. But over Continue Reading
BP Doesn’t Have Merger Fever As US Shale Race Heats Up
As the acquisition war rages on over Anadarko, some analysts are suggesting that there will be additional mergers and acquisitions as major oil companies seek to increase their foothold in Continue Reading
Shell not ‘desperate’ to grow US shale despite Anadarko sale: CFO
Shell is keen to grow its US shale oil portfolio but does not feel pressured to chase new acquisitions, as Occidental and Chevron battle for control of Anadarko’s Permian-rich upstream Continue Reading
Oil Drillers Given More Leeway by Trump Administration
The Trump administration is giving oil companies more flexibility when drilling offshore, by easing Obama-era mandates imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration Continue Reading
HollyFrontier raises use of sour grades at Navajo as Delaware Basin barrels get lighter
New York — HollyFrontier bumped up the amount of sour crude processed in its Permian Basin-fed Navajo refinery in Artesia, New Mexico, in the first quarter of 2019 to 75% Continue Reading
US total oil, gas rig count adds 18 on week to 1,084: S&P Global Platts Analytics
The US active rig count bounced back this week as operators deployed an additional 18 oil and natural gas rigs to lift the total to 1,084 in the week that Continue Reading