Approximately 40% of the world’s electricity is produced by burning coal. Coal is the world’s reliable energy foundation, and it’s expected to remain the leading fuel for power generation well Continue Reading
Just as the U.S. shale industry is slowing down, oil production in other non-OPEC countries is on the rise. Output in U.S. shale grew substantially in 2019, although at a Continue Reading
The early promises of blockbuster shale wells that many fracking companies made to investors are looking even more suspect as the wells age. For years, frackers touted estimates of how Continue Reading
As the year draws to a close, the Brent and WTI oil benchmarks are trading at $66.55 and $61.54, respectively. From $60.65 to $64.50, investment bank and analyst projections for Continue Reading
Introduction Technological innovation in drilling and production has caused rapid growth in U.S. oil and natural gas production during the past few years. One way of developing deeper insight into Continue Reading
Summary of Weekly Petroleum Data for the week ending December 20, 2019 U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week ending December 20, 2019, Continue Reading
The final US oil and gas rig count for the year decreased this week, according to Baker Hughes, reaching 805 rigs after decreasing by 8 for the week, according to Continue Reading
US oil and gas executives expect WTI prices to average $58.54/b by the end of 2020, but most are also basing their capital spending on 2020 prices trading roughly 8% Continue Reading
The U.S. dropped eight oil rigs this week while the number of gas rigs remained flat. The U.S. dropped eight oil rigs this week while the number of gas rigs Continue Reading
America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns. Natural gas has long been a Continue Reading
If current crude flow data forms the basis of industry opinion, US shale oil production has shifted the tectonic plates of the market. Thanks largely to a massive output uptick Continue Reading
A bankruptcy boom has hit the oil and gas industry, and it’s just getting started. Investors have lost their appetite for shale, and energy debt has become among the least Continue Reading
2020 is expected to be another record year for the region with average production above 1.9 million barrels per day. Despite a massive downturn in investment in the U.S. Federal Continue Reading
A decline in crude oil supply after 2020 could lead to higher prices, the Russian Energy Ministry said in a draft energy strategy document. The same document, however, also saw Continue Reading
The eventual death of oil and thermal coal won’t come from environmentalists, or even directly from renewable energy–it will come when big banks decide to stop financing it, rendering it Continue Reading
In the years ahead, 2019 could go down in the history books as a pivotal year in the energy transition. This year may be a “tipping point when global capital Continue Reading
Argentina is suffering growing pains as it seeks to become a major oil and natural gas exporter, a goal thought feasible thanks to huge shale resources, but which also requires Continue Reading
China’s top five suppliers — Saudi Arabia, Russia, Iraq, Brazil and Oman — each delivered record high volumes of crude to China in November, propelling the crude import volume of Continue Reading
The American Petroleum Institute (API) has estimated a large crude oil inventory draw of 7.9 million barrels for the week ending December 18, compared to analyst expectations of a much Continue Reading
Rigs fall 60% year over year. Production inches up 7% Continued production in Oklahoma’s SCOOP-STACK demonstrates how tracking rig count to determine production swings has become an antiquated practice in Continue Reading
Oil futures finished higher in light trading Thursday amid expectations of a decline in US crude oil inventories. ICE February Brent settled up 72 cents at $67.92/b and NYMEX February Continue Reading
2020 is expected to be another record year for the region with average production above 1.9 million barrels per day. Despite a massive downturn in investment in the U.S. Federal Continue Reading
If current crude flow data forms the basis of industry opinion, US shale oil production has shifted the tectonic plates of the market. Thanks largely to a massive output uptick Continue Reading
America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns. Natural gas has long been a Continue Reading
Where it stands : The following five charts show the U.S. Energy Information Administration projections for the future from a decade ago, along with current EIA data to compare those Continue Reading
Platts Dated Brent averaged $79/b over the last decade. The financial crisis, an unforeseen surge in US shale production and the combustible Middle East defined the period for oil markets. Continue Reading
As a busy 2019 in the oil and gas industry ends, analysts are busy issuing predictions about next year and what they would mean for oil markets and prices. This Continue Reading
US crude oil inventories likely extended their slide last week amid an uptick in refinery demand and strong export activity, an S&P Global Platts analysis showed Monday. Commercial crude stocks Continue Reading
Banks are cutting their lending to struggling U.S. shale drillers, another blow to an industry that has long been dealing with a questionable business model. Banks are restricting lending and Continue Reading
Below are a number of oil production charts for Non-OPEC countries, created from data provided by the EIA’s International Energy Statistics and updated to August 2019. Information from other sources Continue Reading
The slowdown in Permian Basin oil drilling and fracking is spreading to the lenders as austerity takes hold. The 63 banks and savings associations in the world’s biggest shale field Continue Reading
Banks have begun to tighten requirements on revolving lines of credit, an essential lifeline for smaller companies, as these institutions revise estimates on the value of some shale reserves held Continue Reading
Introduction Technological innovation in drilling and production has caused rapid growth in U.S. oil and natural gas production during the past few years. One way of developing deeper insight into Continue Reading
The US oil and gas rig count increased by double digits this week, according to Baker Hughes, reaching 813 rigs after increasing by 14 for the week, according to Baker Continue Reading
The U.S. has reversed the trend of rig loss to add a net total of 14 rigs this week. Just ahead of the Christmas holiday, the U.S. tacks on 18 Continue Reading
Summary of Weekly Petroleum Data for the week ending December 13, 2019 U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending December 13, 2019, Continue Reading
Devon Energy Corp. has agreed to sell its Barnett Shale assets to Banpu Kalnin Ventures for $770 million. U.S. independent Devon Energy Corp. has agreed to sell its Barnett Shale Continue Reading
The oil market’s biggest nightmare briefly came true in 2019 – an attack that knocked out more than half of all production in Saudi Arabia, the world’s biggest crude exporter. But Continue Reading
The American Petroleum Institute (API) has estimated a huge surprise crude oil inventory build of 4.7 million barrels for the week ending December 11, compared to analyst expectations of a Continue Reading
Argentina’s President Alberto Fernandez takes office in the midst of an economic crisis. Like his predecessor, he has made fracking a centerpiece of the country’s economic revival. Argentina has some Continue Reading
Higher oil and natural gas prices in 2018 raised the proved reserves of oil and gas in the United States to new all-time highs last year, the Energy Information Administration Continue Reading
Goldman Sachs said that it would no longer finance coal projects, or oil and gas exploration in the Arctic. In a new environmental policy framework , the investment bank acknowledged Continue Reading
Perhaps it’s not evident to anyone who is not an oil-worker living in America’s biggest shale towns, but signs of the shale slowdown predicted by many analysts, and the EIA Continue Reading
The golden age of U.S. shale is far from over, with an expected slowdown in the Permian Basin likely to be temporary, according to the new U.S. Energy Secretary. The Continue Reading
Although drillers in North America’s biggest oil field are burning off more natural gas than ever before, industry advocates say it’s not as bad as it looks. Methane-emissions intensity in Continue Reading
Russia’s crude oil and condensate production could rise to more than 12 million bpd by 2035, if global demand for liquid hydrocarbons continues to grow, Russia’s second-largest oil producer, Lukoil, Continue Reading
After quite an eventful 2019 in which oil demand growth slowed to its lowest in years and investors questioned the performance of oil and gas stocks, the energy sector meets Continue Reading
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
Apache ( APA ) has made news in recent times largely for the potential of their Alpine High field in West Texas. The crash in everything shale currently has moved Continue Reading
Oil and gas’s love affair with digital technology is about to get serious. With digital tech’s proven capacity to contribute to the industry’s number-one priority in the post-2014 era—cost control—it’s Continue Reading
