Rig Count Falters Amid Oil Price Correction
Baker Hughes reported a dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 3 rigs, according to the Continue Reading
Baker Hughes: US Drillers Add Oil Rigs for Fourth Week in a Row
U.S. energy companies added one oil rig this week, the fourth consecutive week of increases, despite a 9 percent decline in crude prices over the past four weeks. Despite that Continue Reading
World Sets New Oil Production Record
This week the 2018 BP Statistical Review of World Energy was released, which covers energy data through 2017. It is the definitive source for global energy production and consumption figures, Continue Reading
BP Sees No Sign Of Oil Supply Shortfall Due To Underinvestment
UK supermajor BP doesn’t expect global oil supply shortages in the coming years because of reduced investment, Brian Gilvary, BP’s Group Chief Financial Officer, said on Thursday. “We’re not seeing Continue Reading
US Oil Firms Use Shale Know-How To Revitalize Old Oilfields
Among vineyards and cow pastures in East Texas last month, roughnecks started to drill in an oilfield that is 25 years past its production peak. Houston-based oil producer Wildhorse Resource Continue Reading
There’s No ‘Silver Bullet’ With Produced Water
Mobile tech supplements – but does not replace – water management processes used in waterflood enhanced oil recovery. Although proportions vary and worldwide data are incomplete, water makes up a Continue Reading
Potential Cushing bottleneck could increase U.S. oil discount
As the discount of U.S. crude to global benchmark Brent nears three-year highs, an emerging bottleneck at the key storage hub in Cushing, Oklahoma, is making U.S. futures vulnerable to Continue Reading
Shale Drillers’ $7 Billion Hedging Error
Oil producers are finding themselves in kind of a pickle. While oil prices are indeed on the rise, many producers are unable to take full advantage of this nicety because Continue Reading
U.S. shale firms miss out on $70 oil after hedging at $55
Many top U.S. shale oil producers are missing out on the rally in oil prices to more than $70 a barrel – because they sold their oil through futures contracts Continue Reading
Oil Prices Rebound On Crude, Gasoline Inventory Draws
The Energy Information Administration reported a large crude oil draw of 4.1 million barrels for the week to June 8, after a 2.1-million-barrel increase a week earlier. A day earlier, Continue Reading