Oil and Gas Pipelines Needed in the Permian Basin
A lack of pipeline capacity is hampering Permian Basin crude oil and natural gas production. Pipelines that were adequate a few years ago are now overwhelmed due to the tremendous Continue Reading
Oil companies make few bids in U.S. offshore lease auction
NEW YORK (Reuters) – Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing Continue Reading
U.S. crude stockpiles soar unexpectedly despite record refinery runs: EIA
U.S. crude oil stockpiles jumped unexpectedly last week despite record high refinery runs, while gasoline stocks decreased and distillate inventories grew, the Energy Information Administration said on Wednesday. “We’ve gotten Continue Reading
Multibillion-dollar acquisition creates Permian major
A $9.2 billion all-stock acquisition creates one of the larger entities working in the Permian shale basin in the United States, Diamondback Energy announced. Diamondback announced the all-stock acquisition of Continue Reading
Crude-By-Rail Could Save The Permian Boom
Nutshell-Overview Crude-by-Rail (CBR) has been a savior for North American producers seeking higher returns for heavily discounted crudes caused by a lack of pipeline take-away capacity. And CBR, once again, Continue Reading
BP bets big on shale for its US comeback
BP’s blockbuster $10.5bn deal for a portfolio of shale oil assets from BHP Billiton was not only its biggest acquisition in almost 20 years, it signalled the company’s big comeback Continue Reading
The Productivity Problem In The Permian
Output in the Permian basin is already starting to slowdown, largely due to pipeline constraints. However, there is also a series of other data points that suggests that shale drillers Continue Reading
After Billions in Blowouts, Mega Oil and Gas Projects Are Back
Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100 Continue Reading
Oil Slumps After API Reports Surprise Crude Build
The American Petroleum Institute (API) reported a surprise crude oil inventory build of 3.66 million barrels of United States crude oil inventories for the week ending August 11, compared to Continue Reading
Is Deepwater Drilling More Profitable Than Shale?
Royal Dutch Shell says that offshore drilling is now more competitive than onshore shale drilling, upending what has become conventional wisdom since the 2014 oil market meltdown. The downturn was Continue Reading