US Shale Production Is Set For A Steep Decline
U.S. oil production fell in July, another worrying sign for the shale industry. The latest EIA data shows that oil output fell sharply in July, dipping by 276,000 barrels per Continue Reading
OPEC’s September Oil Production Falls To Near Decade-Low
OPEC’s oil production has fallen to a near decade low for September, according to the latest Reuters survey, falling below 29 million barrels per day , with Saudi Arabia accounting Continue Reading
Chinese Oil Giant Significantly Boosts Shale Reserves
State energy giant PetroChina has announced new additions of almost 741 billion cubic meters to its shale gas reserves in the Sichuan province as well as certified reserves of 358 Continue Reading
US Oil Rig Demand Continues Decline
Productivity gains have caused record production, falling prices and a year-long decline in drilling and well completions. U.S. rig numbers at have fallen to their lowest since February 2018. According Continue Reading
Shale Boom Is Slowing Just When the World Needs Oil Most
Unlike several years ago, when shale production fell due to a global price collapse, the slowdown this year is driven partly by core operational issues, including wells producing less than Continue Reading
Oil shipping rates soar as U.S. supertanker sanctions rattle crude trade
Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units Continue Reading
Goldman Sachs Sees Opportunity In The Shale Crisis
Despite years of burning through cash, and the deep sense of anxiety within the shale industry itself, Goldman Sachs says the current down market represents a buying opportunity. Through August Continue Reading
US Rig Count Drops by Eight
The U.S. dropped six oil rigs and two gas rigs for a net loss of eight rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped six Continue Reading
EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia – Today in Energy – U.S. Energy Information Administration (EIA)
In its newly released International Energy Outlook 2019 (IEO2019) Reference case, the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and Continue Reading
Oil May Still Be Needed for Decades Despite Climate Push
While global leaders meet in New York to discuss solutions to climate change, the U.S. government has offered a sober assessment of the world’s ability to wean itself off fossil Continue Reading
U.S. Shale Oil In Trouble As Production Stalls After Two Years Of Significant Growth
Has U.S. shale oil production stalled? Well, it seems so. After experiencing significant growth in 2017 and 2018, U.S. shale production in the first five months of this year has Continue Reading
Oil and Gas Bankruptcies Grow as Investors Lose Appetite for Shale
The pressures are due to companies struggling to service debt and secure new funding, as investors question the shale business model. Many drillers financed production growth by becoming deeply indebted, Continue Reading
U.S. Shale Oil In Trouble As Production Stalls After Two Years Of Significant Growth
Has U.S. shale oil production stalled? Well, it seems so. After experiencing significant growth in 2017 and 2018, U.S. shale production in the first five months of this year has Continue Reading
Weakening Shale Productivity “VERY Bullish” For Oil Prices
After years of improvements in drilling techniques and impressive “efficiency gains,” there is now evidence that the U.S. shale industry is reaching the end of the road on well productivity. Continue Reading
US oil production to peak in 2039 at 14.28 million b/d: EIA
US output to fall to 12.18 million b/d by 2050 Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC to lead oil output growth through 2050 Continue Reading
Permian Child Wells May Cut Oil Recovery By 20 Percent
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by Continue Reading
Despite Bankruptcies, US Shale is Not Doomed
Recent bankruptcies affecting shale companies does not indicate future doom for the industry, according to Rystad Energy. While news of bankruptcies among U.S. onshore exploration and production (E&P) companies seems Continue Reading
You’re Footing The Bill For Bankrupt Shale Drillers
A wave of oil and gas wells abandoned by bankrupted drillers could cost the U.S. government hundreds of millions of dollars. A new report from the U.S. Government Accountability Office Continue Reading
US Shale Won’t Go Bankrupt
Despite a wave of financial adversity that has tormented US onshore E&P companies lately, Rystad Energy does not view this as a harbinger of doom for the shale industry going Continue Reading
U.S. oil drillers cut rigs for fourth week in a row: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row, putting the rig count down for an eighth consecutive month as Continue Reading
Rig Count Falls Falls Amid Stellar Decline In US Oil Production
The US oil and gas rig count fell by 8 this week, according to Baker Hughes, adding to months of losses, as US oil production falls to lowest levels since Continue Reading
US Drops Eight Oil, Gas Rigs
The U.S. dropped five oil rigs and three gas rigs for a net loss of eight rigs this week. The U.S. dropped five oil rigs this week and three gas Continue Reading
Deepwater GOM Pipeline System Starts Up
Williams has acquired and placed into service the Norphlet deepwater gas gathering system. Williams reported Wednesday afternoon that it has acquired and placed into service the 16-inch Norphlet deepwater gathering Continue Reading
Oilfield service firms offer grim outlook for second half of year
U.S. shale producers are poised to further trim spending this year, executives at companies that provide drilling and hydraulic fracturing services warned this week, as several took steps to idle Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending July 19, 2019 U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week ending July 19, 2019, Continue Reading
US Tight Oil Legacy Decline and US Tight Oil Scenarios
US tight oil legacy decline can be estimated by assuming no future tight oil completions in the various US tight oil basins. The charts below illustrate such an estimate for Continue Reading
Shale Drilling’s Worst Yet to Come
America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon. (Bloomberg) — America’s Continue Reading
Crude oil futures stable after IEA reports on emergency stocks
Crude oil futures were largely stable during mid-morning trade in Asia Tuesday as reports on the availability of emergency stocks eased supply concerns stemming from geopolitical tensions in the Middle Continue Reading
Permian Fracking Activity Underreported in 2018
Operators in the Permian have been failing to report the completion of some oil wells, according to one data analytics company. Hydraulic fracturing (fracking) activity was underreported by 21 percent Continue Reading
Halliburton’s Profits Take a Hit in 2Q
Halliburton’s second quarter earnings are a mixed bag as the oilfield services company sees profits plummet while international operations increase revenues. Halliburton Company saw its second quarter profits take a Continue Reading
Offshore GOM Operators Returning to Normal
Offshore oil and gas operators in the Gulf of Mexico are resuming normal operations following tropical storm Barry. Offshore oil and gas operators in the Gulf of Mexico (GOM) are Continue Reading
U.S. Shale Is Doomed No Matter What They Do
With financial stress setting in for U.S. shale companies, some are trying to drill their way out of the problem, while others are hoping to boost profitability by cutting costs Continue Reading
Offshore GOM Operators Returning to Normal
Offshore oil and gas operators in the Gulf of Mexico are resuming normal operations following tropical storm Barry. Offshore oil and gas operators in the Gulf of Mexico (GOM) are Continue Reading
U.S. oil drillers cut rigs for third week in a row: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as drillers follow through on plans to cut spending with oil Continue Reading
U.S. Oil Rig Count Falls Amid Production Dip
The US oil and gas rig count fell by 4 this week, according to Baker Hughes, after a string of losses that have stripped away 36 rigs since the beginning Continue Reading
Trump Administration Announces Huge Gulf of Mexico Oil & Gas Lease Sale
The U.S. Secretary of the Interior David Bernhardt and Bureau of Ocean Energy Management (BOEM) announced Thursday that BOEM proposes to offer 77.8 million acres for a region-wide lease sale. Continue Reading
Oil service firms eye new survival tactics amid weak U.S. market
Packers Plus Energy Services, a company built on the North American shale oil boom, is turning to the Middle East to weather a new round of spending cuts by producers Continue Reading
U.S. crude oil stockpiles drop amid Barry, fuel posts large builds – EIA
U.S. crude oil stockpiles fell more than expected last week, while gasoline and distillate inventories rose sharply, the Energy Information Administration said on Wednesday, due to the impact of the Continue Reading
US – update through March 2019
These interactive presentations contain the latest oil & gas production data from 111,702 horizontal wells in 12 US states, through March 2019. Cumulative oil and gas production from these wells Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending July 12, 2019 U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending July 12, 2019, Continue Reading
Will The U.S Gas Glut Cap Oil Production?
A pipeline company is fighting the practice of flaring gas in Texas, threatening to slow the pace of oil production. Flaring gas has become an epidemic in Texas. Permian drillers Continue Reading
U.S. offshore oil production remains cut by 58%: U.S. government
More than half the daily crude production in the U.S. Gulf of Mexico remained offline on Tuesday in the wake of Hurricane Barry, the U.S. drilling regulator said, as most Continue Reading
Gulf Of Mexico Oil Production Restarts After Tropical Storm
After tropical storm Barry passed through the U.S. Gulf of Mexico and made landfall in Louisiana early on Saturday, oil and gas producers began on Monday to slowly restore oil Continue Reading
Number of financially distressed oil, gas companies increasing: S&P Ratings
Some companies may not escape financial trouble this year Receive daily email alerts, subscriber notes & personalize your experience. Register Now To lower costs, some companies have struck merger deals Continue Reading
North Dakota to ask federal agency to block Washington state’s crude-by-rail law
Law expected to disrupt 150,000-200,000 b/d of crude-by-rail movement Petition may start state, federal jurisdictional fight over crude transport Nearly 16 million barrels of Bakken crude shipped through Washington in Continue Reading
America’s Hottest Shale Play Is Waning
The engine of America’s shale boom is beginning to sputter. Slowing Growth The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing Continue Reading
No Quick Exit From Permian Oil for Private Equity
Private equity has been ramping up its investment in Permian Basin oil and natural gas production, but the old strategy of selling out after a few years is no more. Continue Reading
Drilling Productivity Report
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
Fracking Under Fire In California
Fracking for oil and gas in California is about to get a lot more difficult. Last week, California Governor Gavin Newsom sacked the state’s top oil regulator after the Desert Continue Reading
Barry Shuts in 69 Percent of GOM Oil Output
Approximately 69.08 percent of oil production in the Gulf of Mexico was shut in as of Monday due to Tropical Storm Barry. Approximately 69.08 percent of oil production in the Continue Reading