Shale’s Growing Pains Could Curb US Oil Production
The dramatic ramp-up in U.S. shale production is running into a combination of issues that threaten to slow the pace of expansion. (Bloomberg) — The dramatic ramp-up in U.S. shale Continue Reading
Schlumberger Won’t Take New Full-Oilfield Management Projects
Oilfield services provider Schlumberger will focus on monetizing existing full-field production management contracts in the near to medium term and will not undertake new such deals in the meantime, chairman Continue Reading
What Norway’s Decision To Divest Means For US Shale
After months of deliberations, Norway’s government proposed in March that the country’s US$1-trillion fund—the world’s biggest sovereign wealth fund—divest from oil and gas exploration companies. The move by the fund, Continue Reading
U.S. oil drillers cut rigs for fifth week in a row: Baker Hughes
(Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent Continue Reading
U.S., Canadian Rig Count Plunges As Oil Retreats
The the number of active oil and gas rigs fell sharply in the United States this week according to Baker Hughes, despite US oil production resuming highs this week that Continue Reading
US Drops 10 Oil, Gas Rigs
The U.S. scrapped a total of 10 oil and gas rigs this week. The U.S. dropped 10 oil and gas rigs this week, according to weekly data compiled by Baker Continue Reading
US sells 4.32 million barrels of SPR crude for over $285.7 million: DOE
The US Department of Energy has sold 4.32 million barrels of sweet crude from its Strategic Petroleum Reserve for a total of more than $285.7 million, an average of $66.14/b, Continue Reading
Big Pivot In Energy Is Gaining Momentum
For years, the oil and gas industry has boasted about the longevity and durability of oil and gas reserves despite growing signs that peak oil demand is around the corner. Continue Reading
A Paradigm Shift In The Permian
The U.S. shale industry is increasingly dominated by the oil majors, with small and medium-sized drillers under financial pressure. Shareholders, banks and other analysts are losing patience with unimpressive performances Continue Reading
Murphy Oil Is Latest Firm To Sell Assets Abroad In Focus On Shale
Murphy Oil Corporation has signed a deal to sell its assets in Malaysia, becoming the latest U.S. company to exit projects abroad as it focuses on high-margin opportunities in U.S. Continue Reading