Oil Price Slide Puts The Brakes On U.S. Shale Growth
While U.S. President Donald Trump continues to call on OPEC to keep oil prices low, because “The World does not want to see, or need, higher oil prices!”, one corner Continue Reading
46.3B Barrels of Oil in Wolfcamp-Bone Spring
New federal study estimates undiscovered, technically recoverable resources in Wolfcamp shale and Bone Spring Formation in Permian’s Delaware Basin. The Wolfcamp shale and overlying Bone Spring Formation in the Delaware Continue Reading
Shale’s growing profits at the mercy of OPEC cuts and Trump’s tweets
The recent nosedive in crude oil prices came just as shale producers had started delivering healthy returns after years of heavy spending to boost production and market share. The shift Continue Reading
The U.S. Pipeline Industry Is Booming
Every once in a while, a new technological development shakes up a conservative sector. In the oil and gas industry, the shale revolution has changed the business in multiple ways. Continue Reading
U.S. Shale Struggles As Oil Prices Drop
The explosive production growth in the U.S. shale patch has surprised even the most optimistic forecasters, but the huge jumps in output belies and obscures the financial state of the Continue Reading
Schlumberger sees lower North American fourth-quarter revenues on drop in fracking
Schlumberger, the world’s largest oilfield services provider, warned on Tuesday that its fourth-quarter North America revenues will likely decline 15 percent sequentially on steeper-than-expected price declines in hydraulic fracturing. The Continue Reading
Big Fracking Profits at $50 a Barrel? Don’t Bet on It
U.S. oil prices traded below $50 last week and closed Monday at $52.95. What Does ‘Break-Even’ Mean? Most fracking operations need an oil price above $50 a barrel for robust Continue Reading
Schlumberger’s Year-End Frack Forecast is a Lump of Coal
The North American fracking market — already expected to be a downer for the holidays — is turning out to be even worse than expected, according to the world’s biggest Continue Reading
Shale Drillers May Cut Capex As Oil Falls To $50
Just as the U.S. shale patch is drafting spending budgets for 2019, oil prices have tumbled 25 percent from four-year highs in early October to just above $50 a barrel Continue Reading
U.S. drillers add oil rigs for fifth straight month: Baker Hughes
U.S. energy firms this week added oil rigs for a third week in four and increased the rig count for the fifth consecutive month, even though oil prices this week Continue Reading