Shale oil production surpasses 100,000 b/d Shale growth offsets drop in conventional output September gas output rises 10.6% on year Buenos Aires — Oil and natural gas production in Neuquen, Continue Reading
Exxon and Chevron believe that a ban on fracking will only shift economic benefits out of the U.S. and possibly raise the price of oil, the two largest U.S. oil Continue Reading
A surge of oil production is coming, whether the world needs it or not. The flood of crude will arrive even as concerns about climate change are growing and worldwide oil Continue Reading
ExxonMobil has warned that energy investment will shift out of the US if the government bans fracking, the drilling technique that transformed oil production but is opposed by three Democratic Continue Reading
While the top Democratic presidential contenders call for a ban on new drilling on federal land , Democrats in power in some of the western oil states argue that it Continue Reading
The nation dropped five oil rigs and three gas rigs for a net loss of eight rigs, according to weekly data from Baker Hughes Co. The U.S. rig count has Continue Reading
Big Oil companies need to reduce their oil production by 35 percent by 2040 in order to preserve shareholder value in a changing world, think-tank Carbon Tracker has warned . Continue Reading
Struggling oilfield services company Weatherford International had a loss of $821 million in third quarter of 2019. Struggling oilfield services company Weatherford International had a loss of $821 million in Continue Reading
In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way Continue Reading
The global oil industry is a highly lucrative sector that is strongly influenced by geopolitical developments. As the Post-Cold War era comes to an end, a new status quo is Continue Reading
It’s that time of the year again, the final OPEC+ meeting of 2019 has been scheduled and is ready to take place in December. Geopolitical tensions in the Middle East Continue Reading
The downturn in shale drilling has been so steep and brisk that oilfield companies are taking the unprecedented step of scrapping entire fleets of fracking gear. (Bloomberg) — The downturn Continue Reading
Eyeing more restrictions on drilling following the 2020 presidential election, some U.S. oil and gas companies may accelerate fracking on public lands over the next year. Concho Resources said that Continue Reading
Summary of Weekly Petroleum Data for the week ending October 25, 2019 U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending October 25, 2019, Continue Reading
If global oil demand growth continues to languish with uncertainties around the global economy and Brexit, the oil market will likely have to cope with another oversupply next year, according Continue Reading
In the first look at a series of earnings reports in the energy sector from the third quarter, there is a bit of a mixed picture offered up on the Continue Reading
The offshore market recovery is underway, albeit at a slow rate, and Transocean expects to capitalize on a tighter market and increasing demand for high-specification rigs, the company said Tuesday. Continue Reading
The American Petroleum Institute (API) has estimated a small crude oil inventory build of 592,000 barrels for the week ending October 24—close to analyst expectations of a 729,000-barrel build. Last Continue Reading
A pipeline project that would transport non-potable reclaimed water from Lubbock, Texas, to industrial customers in the Permian Basin has cleared an important hurdle. A pipeline project that would transport Continue Reading
Third-quarter earnings in the oil and gas industry have begun to trickle in at a time when investors have the lowest confidence and interest in U.S. shale stocks in years. Continue Reading
Russia and its OPEC partners in the production cut deal will take into account the slowing U.S. shale production growth at their December meeting to discuss the agreement, Russia’s Deputy Continue Reading
Some of the largest banks financing U.S. oil and gas drillers have recently reduced their expectations for oil and natural gas prices, determining the value of companies’ reserves and loans Continue Reading
US crude inventories likely climbed last week as many refiners remained in maintenance and imports climbed. Analysts polled by S&P Global Platts were looking for crude stocks to have climbed 2.5 Continue Reading
A lot of big names will report third quarter earnings this week, and the results are expected to be worse than the same period in 2018. The timing comes as Continue Reading
Texas’ economy is perhaps the most vulnerable to oil price swings given its leading role in the country’s oil industry. Recently, as prices have remained low, talk has begun about Continue Reading
Applications for permits to drill on federal and Indian lands have increased by more than 300% over the past two years with New Mexico and Wyoming receiving most of the Continue Reading
Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg Continue Reading
The term “disruptor” has become an overused phrase that has cheapened the perceived impact that new tech, new processes, new ideas, and new generations have on the world. But there Continue Reading
The world is still making huge oil discoveries. There’s just nothing conventional about them. Conventional oil and gas discoveries have fallen by the wayside since the shale boom and the Continue Reading
Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations. Major shale Continue Reading
‘Significant production slowdown’ is all around the headlines about the U.S. shale patch these days. Yet, the headlines have often missed one growing problem in the U.S. oil industry—the abandoned, Continue Reading
The US oil and gas rig count fell sharply this week, according to Baker Hughes, with a drop of 25 rigs for the week. This week marks nine decreases out Continue Reading
The Permian now accounts for more than half of the nation’s total number of active rigs. The U.S. has seen its rig count decline for the second week consecutive week, Continue Reading
The U.S. has forfeited $18 billion tied to oil and gas production in the U.S. Gulf since 2000 because of a decades-old law that gave energy companies a break on Continue Reading
Eddie Seal/Bloomberg The United States government has lost billions of dollars of oil and gas revenue to fossil-fuel companies because of a loophole in a decades-old law, a federal watchdog Continue Reading
Increasingly, U.S. shale firms appear unable to pay back investors for the money borrowed to fuel the last decade of the fracking boom. In a similar vein, those companies also Continue Reading
Summary of Weekly Petroleum Data for the week ending October 18, 2019 U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending October 18, 2019, Continue Reading
Through its analysis of more than 80,000 wells drilled in the Permian and Eagle Ford over the last decade, Deloitte determined the shale industry can save billions of dollars. Well Continue Reading
The money pipeline is running dry for large portions of the US shale oil sector, tipping drillers into bankruptcy and threatening the industry’s breathtaking growth in oil production. Spooked by Continue Reading
The American Petroleum Institute (API) has estimated a crude oil inventory build of 4.45 million barrels for the week ending October 17—compared to analyst expectations of a 2.232-million-barrel build. Last Continue Reading
Highlights Goldman lowers 1 million b/d 2020 forecast to 700,000 b/d US November shale output to grow by 1.14 million b/d on the year: EIA Permian to account for 116% Continue Reading
America’s shale boom got the world accustomed to soaring production. Now growth has slowed, and a cloud has formed over the industry. Hydraulic fracturing pushed the U.S. closer to its Continue Reading
U.S. shale production growth is slowing down, and America’s shale output will likely peak in the next few years, Russia’s Energy Minister Alexander Novak said on Tuesday. We see that Continue Reading
The oilfield services company vows to “streamline operations” in the fourth quarter to generate $300 million in cost savings. Halliburton Company intends to cut costs to the tune of $300 Continue Reading
Oilfield services giant Schlumberger is kicking off a strategic review of its North American land market business in the wake of weak regional performance during the third quarter. The review Continue Reading
Goldman Sachs wound back its forecast for growth in U.S. shale output in 2020, and slightly reduced its outlook for 2020 global oil demand growth. The brokerage said it expects Continue Reading
The first and third-largest oilfield service companies in the world saw their earnings hit in the third quarter due to the slowdown in U.S. shale drilling. Schlumberger took a $12.7 Continue Reading
“Conventional wells not being drilled now won’t be producing later on.” Over the past decade, the U.S. oil and gas sector has emphasized developing short-cycle-time unconventional projects rather than wildcat Continue Reading
Oil-field services company Halliburton Co. posted weaker quarterly earnings Monday as revenue in the company’s North America business slumped, but cost cuts and a better-than-expected outlook pushed shares higher. Companies Continue Reading
Although modern oil companies operate in a very different world from that of the villainous oil baron JR Ewing, the fictional Texan character can still offer investors some inspiration or Continue Reading
