Industry Set for Worst Discovery Toll Since 1946
As of the end of November, total global discovered volumes this year are calculated at 4.7 billion barrels of oil equivalent. The oil and gas industry is on course for Continue Reading
Tackling One Of The Fracking Industry’s Biggest Problems
The fracking industry has often been criticized for its tremendous water usage. Plasma Pulse Technology is a new fracking tech that requires no chemicals or water. Its developers describe it Continue Reading
Robots Are Taking Over Oil Rigs
A new, fully automated, oil and gas rig recently made its debut in the Permian Basin. The rig uses digital technology and Canrig robotics to ‘man’ the platform. Other robotic Continue Reading
Are Oil Markets Already Oversupplied?
It appears that oil market oversupply may already be upon us, with demand being hit hard by Omicron and by China cracking down on its independent refiners. Friday, December 17th, Continue Reading
U.S. drillers add oil and gas rigs for second week in a row -Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as demand for energy keeps growing after last year’s coronavirus demand destruction. Continue Reading
Biden Crude Release Moves Into Second Round With Bids Due Jan. 4
The Biden administration’s release of crude from U.S. emergency reserves to cool oil’s rally is going into a second round, with bids due by the first working day of the Continue Reading
Oil Rig Count Rises Despite Omicron Uncertainty
The number of active drilling rigs in the United States this week rose by 3, according to Baker Hughes . The total rig count rose to 579—a figure that is Continue Reading
US oil, gas rig count jumps 16 to 716 as Permian sees biggest weekly gain: Enverus
The US oil and gas rig count jumped 16 to 716, energy analytics and software company Enverus said Dec. 16, with the Permian by far recording the biggest weekly domestic Continue Reading
Climate Change Threatens Recoverable Oil Reserves
Onshore oil and gas operations are exposed to the ‘full range’ of the physical impacts of climate change. More than 40 percent of commercially recoverable oil and gas reserves are Continue Reading
Mixed API Inventory Data Has Little Impact On Oil Prices
This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 815,000 barrels. U.S. crude inventories have shed some 61 million barrels since the beginning Continue Reading