Raisa Energy LLC, a Denver-based oil-and-gas company backed by private equity firm EnCap Investments LP, closed the first such offering in September and several others are planned before the end Continue Reading
One of the world’s top commodity traders, Trafigura, expects the Asia Pacific region to have a deficit of refined oil products by 2025, despite the current fuel glut and despite Continue Reading
The US oil and gas rig count fell this week, according to Baker Hughes, decreasing by 5 for the week, according to Baker Hughes. This week marks eight decreases in Continue Reading
Affects permits within 2,000 feet of occupied structure Decision follows release of study Denver — Colorado oil and gas regulators announced drilling sites in the Denver-Julesburg Basin located within 2,000 Continue Reading
The U.S. dropped six gas rigs and added one oil rig for a net loss of five rigs this week, according to Baker Hughes Co. The U.S. dropped six gas Continue Reading
The world’s largest oilfield services provider, Schlumberger ( NYSE:SLB ), reported on Friday a net loss of US$11.38 billion for the third quarter, compared to a US$644-million profit for Q3 Continue Reading
Wall Street guessed that writedowns from Schlumberger Ltd. were coming, but some analysts were taken aback by the sheer size of the $12.7 billion in pretax charges reported by the Continue Reading
Annual oil production in the Gulf of Mexico is expected to jump to 1.9 million bpd in 2019. Oil production in the Gulf of Mexico (GOM) hit a new annual Continue Reading
U.S. oil production growth has slammed on the breaks, as low prices and the loss of access to capital markets has forced a slowdown in drilling. Third quarter earnings reports Continue Reading
US oil producers are keeping a close eye on what the US National Hurricane Center is calling Potential Tropical Cyclone Sixteen, S&P Global Platts reported on Thursday. The NHC has Continue Reading
Summary of Weekly Petroleum Data for the week ending October 4, 2019 U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending October 4, 2019, Continue Reading
In 2016, lower oil prices led to an overall drop in production for shale companies, which use horizontal drilling and fracking to extract oil and gas from shale formations such Continue Reading
This week, the Wall Street Journal highlighted that the U.S. oil and gas shale industry, already struggling financially, is now facing “core operational issues.” That should be a truly frightening Continue Reading
Crude oil production from the seven major shale plays in the United States could hit 8.971 million bpd next month, growing by 58,000 barrels per day, the Energy Information Administration Continue Reading
When earlier this year Whiting Petroleum announced it would cut a third of its workforce, the news did not make a huge splash as it was lost among other cost-cutting Continue Reading
Johnny Vega (left), the president and CEO of Mico Services, has equipment lying idle that could generate $700,000 per month because he says he cannot find enough workers. Reuters New 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
Waterborne crude exports from Corpus Christi, TX, reached a record high of 11.379mn bbls, or 1.626mn bpd, in week ending September 27, buoyed by increased flows into the port from Continue Reading
US crude inventories likely climbed last week as refiners were deep into fall maintenance, an S&P Global Platts analysis showed Tuesday. Analysts polled by Platts were looking for crude stocks Continue Reading
U.S. crude exports are expected to reach nearly six million bpd by 2022, according to Rystad Energy. The U.S. could see its crude oil exports nearly double by 2022, according Continue Reading
The US oil and gas rig count rose for the first time in eight weeks, according to Baker Hughes, increasing by just 1 for the week, according to Baker Hughes, Continue Reading
Oil and gas firms in the U.S.’ 10th District saw a moderate decrease in activity for the third quarter of 2019, according to results of the Kansas City Fed’s 3Q Continue Reading
Halliburton announced that it would lay off 650 workers across four U.S. states due to the slowdown in shale drilling. The oilfield services giant blamed “local market conditions” for slashing Continue Reading
U.S. shale oil plays are “riding the edge of profitability” at current prices and the industry faces a significant slowdown in fracking activity if crude falls below $50 a barrel Continue Reading
Oilfield services giant Halliburton has laid off 650 employees in Grand Junction. Halliburton Company has laid off 650 employees in the U.S., the Houston-based oilfield services giant confirmed Wednesday. The Continue Reading
The prospect of Elizabeth Warren becoming the 2020 Democratic presidential nominee, or the 46th president of the U.S., has energy investors worrying about risks to hydraulic fracturing. “What happens if Continue Reading
The Permian Basin helps to dampen the effects of geopolitical and domestic impacts affecting the oil market. For the oil market, the Permian Basin acts like a shock absorber. That Continue Reading
In a new in-depth study, Rystad Energy estimates that as much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s. Service Continue Reading
The theory of “peak oil demand” was a techno-utopian response to the supposed debunking of the peak oil theory first set out by M. King Hubbert in the 1950s. Hubbert’s Continue Reading
Forecast Highlights Winter Fuels Outlook The U.S. Energy Information Administration (EIA) forecasts that average household expenditures for all major home heating fuels will decrease this winter compared with last. This Continue Reading
The American Petroleum Institute (API) has estimated a large crude oil inventory build of 4.13 million barrels for the week ending October 3—compared to analyst expectations of a 1.413-million-barrel build. Continue Reading
New Mexico may be starting to surpass West Texas as the main focus of shale drilling, with rigs decamping from familiar areas in the Permian to other less drilled locales. Continue Reading
Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. “Exxon is clearly on Continue Reading
OPEC saw its crude oil production plummet by the most in 17 years in September as the attacks on critical oil infrastructure in its largest producer Saudi Arabia took 5.7 Continue Reading
Below are a number of Non-OPEC charts created from data provided by the EIA International Energy Statistics . Since the EIA site is still in the Beta stage, the data Continue Reading
The Department of the Interior’s Land and Mineral Management and Bureau of Ocean Energy Management are proposing a regionwide lease sale in March 2020 for 78 million acres in the Continue Reading
Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. “Exxon is clearly on Continue Reading
The growth in U.S. shale production is grinding to a halt as low prices put drillers in a financial vice. The slowdown has been unfolding for much of 2019, but Continue Reading
Abstract. We use calculus methods to estimate the quantity of U.S. oil reserves. We consider a model that consists of an exponential function with four unknown constants. We fit real Continue Reading
This year, the oil market has faced some of the worst supply disruptions in recent times and yet prices remain stuck in the $60s. OPEC ’s oil production tumbled the Continue Reading
The US oil and gas rig count fell for the seventh week in a row this week, decreasing by 5, according to Baker Hughes, but US oil companies are still Continue Reading
As dark clouds gather on the financial horizon, big trouble is brewing in the U.S. Shale Oil Industry. While most Americans are focused on the Mainstream media’s coverage of the Continue Reading
Newly commissioned Permian Basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia. The U.S. Census Bureau said exports Continue Reading
U.S. oil and gas producer EP Energy Corporation is the latest in a number of energy companies who have filed for bankruptcy this year. U.S. oil and gas producer EP Continue Reading
This week’s losses places the U.S.’ number of active rigs at 855. The U.S. shed three oil rigs and two gas rigs to total a net loss of five rigs Continue Reading
Chevron Corporation on Thursday announced that it would curb its greenhouse gas emissions from its oil production, the company said on Thursday, as the climate pressure on oil majors intensify, Continue Reading
The last three years has been the worst stretch of time in seventy years for new conventional oil discoveries. A new report from IHS Markit finds that conventional oil discoveries Continue Reading
The U.S. Department Of Energy Says More Oil, More Natural Gas Numerous energy headlines from this past week alone caught my attention. They perfectly illustrate the massive scale of investment Continue Reading
The Permian Basin in Texas and New Mexico is dotted with drilling rigs, crisscrossed by pipelines and produces far more oil than any other part of the U.S. Yet its Continue Reading
News that U.S. production fell in July has counteracted trade war fears, but it is highly likely that July’s dip in production was due to hurricane outages Chart of the Continue Reading
