Big Oil Might Be In Better Shape Than U.S. Shale
For much of the past three years, the oil majors have struggled to adapt to the new reality of low oil prices, while at the same time, their smaller and Continue Reading
Kemp: US Shale Breakeven Price Revealed Around $50
U.S. shale producers need a WTI oil price around $50 per barrel to break even, according to an analysis of financial statements for the second quarter. Fifteen of the largest Continue Reading
Shale-rich Oklahoma sees widespread economic growth
Oklahoma reports broad economic gains, with tax receipts from oil and gas up more than 25 percent from last year. File photo by Jim Parkin/Shutterstock Aug. 8 (UPI) — Gross Continue Reading
EIA cuts U.S. oil production growth forecast for 2018
The U.S. Energy Information Administration said on Tuesday it expects U.S. crude oil production in 2018 to rise by less than previously expected. The agency forecast that 2018 crude oil Continue Reading
API Reports Major Crude Inventory Draw, Surprise Gasoline Build
The American Petroleum Institute (API) reported a major draw of 7.839 million barrels in United States crude oil inventories, compared to analyst expectations of a modest draw of 2.272 million Continue Reading
Continental becomes latest U.S. shale producer to cut budget
Continental Resources Inc ( CLR.N ) cut its 2017 capital budget on Tuesday, the latest U.S. shale oil producer to cut back on drilling and fracking equipment amid tepid crude Continue Reading
‘Nothing To See Here’ – Frackers Ignore Rising Well Decline Rates
Shale wells suffer from steep decline rates. A rush of output occurs at first, but almost immediately after the well comes online, the flow rate drops off precipitously. And within Continue Reading
Shale Producers Hedge At Much Lower Prices
Shale oil producers are hedging again – this is the latest message coming from investment banks and analytical firms, according to Bloomberg . After hedging largely died down when WTI Continue Reading
Is The Shale Rebound Causing A Return Of Flaring?
Underneath the surface of North Dakota is the Bakken Formation, which is part of the Williston Basin that also lies underneath parts of South Dakota, Montana, southwestern Manitoba and southern Continue Reading
Is The EIA Exaggerating U.S. Oil Production?
Oil is back at $50 per barrel, restoring some semblance of confidence in the market. But that is just about as much as we can expect in terms of a Continue Reading