The current year has been shaping up as the worst in decades for oil and gas mergers as the deep uncertainty surrounding the sector killed Big Oil’s appetite for acquisitions. Continue Reading
Even before the COVID-19 pandemic shook up the oil industry, America was full of defunct oil wells. Tens of thousands, if not hundreds of thousands, or perhaps millions of holes Continue Reading
COVID Market Update: M&A Is Back With little to no notable activity on the oil deal scene since the oil price crash, Chevron’s offer to buy Noble Energy Inc. for Continue Reading
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 2, to 251, marking the twentieth straight loss in Continue Reading
Tropical storm Hanna is expected to make landfall in Texas on Saturday with heavy rains that could result in flash flooding along the Texas coast, where oil refineries and LNG Continue Reading
The world’s largest oilfield services provider, Schlumberger ( NYSE:SLB ), reported on Friday a second straight quarterly loss on the back of a dramatic revenue slump in U.S. shale and Continue Reading
Despite a wave of well shut-ins by operators across the Bakken Shale this spring, associated natural gas production looks to rebound sooner than expected, leading to an increase of flows Continue Reading
Another Bakken Shale crude oil pipeline is on the verge of potential closure as a series of governmental and court rulings have threatened the operation of existing pipeline systems. The Continue Reading
The number of rotary drilling rigs operating in the United States fell to 251 this week, Baker Hughes Co. reported Friday. The number of rotary drilling rigs operating in the Continue Reading
U.S. fracking is set for its first monthly rise this year, according to a new Rystad Energy analysis. U.S. fracking is set for its first monthly rise this year, according Continue Reading
Spending on oil and gas, and coal is still higher among members of G20 than spending on renewable energy, a data update from the Energy Policy Tracker has revealed. Across Continue Reading
A growing number of banks are restricting access to funding to the U.S. shale industry in the wake of the oil price crash, although the aversion to lending more capital Continue Reading
The Covid-19 downturn has caused a shocking decline in new fracking operations in the US, with monthly numbers plunging to a bottom of just 325 wells in June. A Rystad Continue Reading
Despite the fact that U.S. shale producers have brought back a quarter of the output they had curtailed, production is set for a new slump after the summer as new Continue Reading
Multiple issues could affect the future of Oklahoma natural gas and oil production, including a recent US Supreme Court ruling likely giving the state’s Native American tribes more control over Continue Reading
The US oil and gas rig count rose by six to 294 on the week, rig data provider Enverus said July 23, marking the second consecutive week of increases after Continue Reading
The federal government should take steps against Saudi Arabia and Russia’s dumping of oil on the American market during the Covid-19 crisis, the chairman of the Texas Railroad Commission has Continue Reading
The Odessa Development Corporation (ODC) launched this week ‘The Permian Fuels America’ task force to protect the U.S. industry from oil market manipulation initiated by other countries, convince refiners to Continue Reading
Way back in January (it’s been a long year) Hallburton was already souring on shale. Way before the novel coronavirus put the final nail in the coffin of the West Continue Reading
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to March 2020. Continue Reading
The combination of the oil price collapse and the coronavirus pandemic has decimated the industry in the first half of 2020 to a level where Exploration & Production (E&P) and Continue Reading
Some current and former employees of a company developing an oil refinery near Theodore Roosevelt National Park in North Dakota filed a lawsuit claiming they are owed wages and bonuses. Continue Reading
The high-profile case of the Dakota Access oil pipeline ordered shut earlier this month has overshadowed another legal dispute over a smaller pipeline carrying crude out of the Bakken shale Continue Reading
Orphaned and abandoned wells are those whose owners are unknown or insolvent. A federal program to plug nearly half a million orphaned and abandoned oil and gas wells could create Continue Reading
The usual post-merger giddiness that abounds after a multibillion-dollar oil deal is noticeably absent in the wake of Chevron Corp.’s $5 billion takeover bid for Noble Energy Inc. With Chevron agreeing Continue Reading
Chevron will take over Noble Energy for $5 billion in the first big deal announced since the coronavirus pandemic shook the energy sector. Chevron has been shopping for assets since Continue Reading
Chevron has decided to acquire Noble Energy in a $5 billion deal , expanding its footprint in U.S. shale and in the Eastern Mediterranean. The acquisition is the first major Continue Reading
The low oil prices and drastically reduced fracking activity in North America claimed another victim as oilfield services provider BJ Services filed on Monday for Chapter 11 bankruptcy protection. Texas-based Continue Reading
Earlier this month, a federal judge stunned the U.S. energy sector with an order to shut down the Dakota Access pipeline. Environmentalists hailed it as the first time a fully Continue Reading
The Bureau of Ocean Energy Management is proposing to offer approximately 78.8 million acres in a new Gulf of Mexico lease sale. The Bureau of Ocean Energy Management (BOEM) has Continue Reading
The Dakota Access Pipeline is currently mired in a legal battle that has no definitive end in sight. Earlier this month, the extremely divisive pipeline that has been the subject Continue Reading
1. China gobbles up commodities – China imported roughly 13 mb/d of oil in June, a record high. – China also imported a record high 656,000 tons of copper last Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 253, marking the nineteenth straight loss in Continue Reading
North Dakota oil and natural gas production saw its sharpest monthly drop on record in May, as low prices and weak demand continued to curb drilling activity while the looming Continue Reading
The U.S. rotary rig count fell by five over the past week. The U.S. rotary rig count fell by five over the past week to hit the 253-unit mark, Baker Continue Reading
Buckeye Partners, L.P.operations have begun at South Texas Gateway (STG), a new terminal in the Port of Corpus Christi that it owns with Phillips 66 Partners LP and Marathon Petroleum Continue Reading
Since 2017, Bakken has surprised to the upside. But with DAPL stuck in legal court battles and uncertainty around takeaway capacity continuing, Bakken’s production base will fall. Lower completion activity Continue Reading
A Rystad Energy analysis projects the number of oil and gas wells drilled globally will approach 55,350 this year. A Rystad Energy analysis projects the number of oil and gas Continue Reading
Highlights Oil rigs up by 10 to 202, gas rigs fall 1 to 86 Most large basins tick up one or two rigs But lower activity continues in the Permian Continue Reading
The midstream oil sector enters the earnings season for one of the toughest quarters in the industry’s history as its struggles to manage lower crude volumes, project delays, and wary Continue Reading
California’s three investor-owned utilities have released the results of a study called for by the California Public Utilities Commission to assess the “effective load carrying capability” of various energy technologies—in other words, how Continue Reading
Oil jumped to a four-month high after U.S. President Donald Trump indicated that he doesn’t want to add more sanctions against Chinese officials for now in a move to diffuse tensions Continue Reading
The COVID-19 pandemic has stymied oil and gas activity, a phenomena which has now affected the drilling market both in terms of wells drilled and in terms of related demand Continue Reading
After one of the most dramatic stretches in its history, the oil industry is slowly recovering. March and April saw the toxic combination of depressed demand, excessive supply, limited storage Continue Reading
The stockpiles of refined oil products at the oil trading and bunkering hub of Fujairah dropped for a third consecutive week, the longest stretch in a year, dragged by a Continue Reading
The top U.S. shale gas producers have seen their stock prices decimated from their highs reached in 2014. What’s even worse is that the horrible stock performance occurs even with Continue Reading
The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs Continue Reading
The Dakota Access Pipeline, (DAPL) was built to transport Bakken crude oil from its point of origin in far North Dakota to a terminus in Patoka, Illinois. Patoka is the Continue Reading
US shale oil production will fall to 7.49 million b/d in August, down 56,000 b/d from July and the lowest in two years, the US Energy Information Administration said July Continue Reading
