Drillers Extend Revival as Oil Trades Near 17-Month High
Oil explorers added rigs for the eighth straight week, extending a ramp-up of activity in the U.S. shale patch as prices hover near $53 a barrel. Rigs targeting crude in Continue Reading
U.S. drillers add oil rigs for eighth week in a row: Baker Hughes
U.S. energy companies added oil rigs for an eighth week in a row, extending a seven-month drilling recovery as crude prices remained near a 17-month high. Drillers added 13 oil Continue Reading
U.S. Oil-Rig Count Rose by 13 in Latest Week
The number of rigs drilling for oil in the U.S. rose by 13 in the past week to 523, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
Oilfield Services To See Spending Surge In 2017
2017 Oilfield Service and Drilling Outlook from Bloomberg Intelligence Bloomberg Intelligence (BI) analysts Andrew Cosgrove and William Foiles presented a briefing on Wednesday on the outlook for U.S. oil services Continue Reading
Bonanza Creek, Other U.S. Energy Firms Announce Chapter 11 Plans
Oil and gas producer Bonanza Creek Energy said it would file for bankruptcy on or before Jan. 5, joining a long list of energy companies that have succumbed to a Continue Reading
Next U.S. Gulf of Mexico lease sale will be online
The next lease sale planned by the U.S. government for oil and gas reserves in the Gulf of Mexico will be streamed live on the Internet, an agency said. On Continue Reading
Texas oil production not rebounding yet
Texas, the No. 1 oil producer in the United States, reported crude oil production edged slightly lower than the previous month based on preliminary data. Strains continued for the nation’s Continue Reading
Texas Update -December 2016
This estimate (now preferred by Dean Fantazzini) is 35 kb/d lower than the EIA estimate for Sept 2016 (which is the most recent EIA estimate). Texas C+C output has fallen Continue Reading
U.S. Shale Is Now Cash Flow Neutral
Oil prices are probably already high enough to spark a rebound in shale production. The IEA says that in the third quarter of 2016, the U.S. shale industry became cash Continue Reading
One size fits all? In offshore oil sector, using standard gear could cut costs 30 percent: association
Offshore oil majors could shave nearly a third off their exploration and development costs by simply agreeing to industry-wide equipment standards, according to an industry association executive. Rather than having Continue Reading