Shale Investors Fear Bloodbath As Earnings Season Kicks Off
The oil majors and shale E&Ps will soon begin publishing second quarter results, which will round out a picture of how the industry fared in the first half of 2019. Continue Reading
Signs Of Slower Permian Oil Growth Continue To Emerge
While U.S. shale production is booming and the Permian continues to set new production records , the pace of growth is slowing as many companies have recently scaled back production Continue Reading
FINANCE COSTS ARE KILLING THE SHALE INDUSTRY
If the rapid decline rate or the massive debt doesn’t destroy the U.S. Shale Industry, the finance costs most certainly will. The amount of interest expense the shale companies have Continue Reading
Oil Prices Rise Amid Further Rig Count Decline
The US oil and gas rig count fell by 5 this week, according to Baker Hughes, after losing rigs last week as well. The total number of active oil rigs Continue Reading
IEA sees oil market oversupplied in 2019 on U.S. production
urging U.S. oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency (IEA) said Continue Reading
Is A Crude Glut Looming?
Crude oil supply in the world exceeded demand by 900,000 bpd in the first half of the year, the International Energy Agency said in its latest monthly Oil Market Report Continue Reading
Oil Supply Exceeds Demand in 1H
Oil supply exceeded demand by 0.9 million barrels per day (MMbpd) in the first half of 2019, according to the International Energy Agency’s (IEA) latest oil market report. In a Continue Reading
U.S. oil drillers cut rigs for second week in a row: Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as drillers follow through on plans to cut spending this year. Continue Reading
Permian Shale Boom Slowing Down
Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing returns, and keeping skeptical investors away. The constraints Continue Reading
Permian Leads US in Rig Count Decline
The U.S. dropped a net total of five rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped a net total of five rigs this week, according Continue Reading
The Shale Boom in the Permian Is Slowing Down
The promise of the Permian is shrinking. Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing Continue Reading
Oil & Gas Discoveries Rise In High-Risk Oil Frontiers
Global discoveries of conventional oil and gas continue to show promising growth, with new finds totaling 6.7 billion barrels of oil equivalent (boe) in the first half of 2019, according Continue Reading
Intensifying storm shuts U.S. coastal refinery, adding to energy production losses
Threatened flooding from a tropical storm in the U.S. Gulf of Mexico that cut nearly a third of the region’s oil production has forced the shutdown of a coastal refinery, Continue Reading
US oil, gas rig count falls by 17 to 1,040 after holiday weekend:
Rig pattern still zigzags but becoming more settled US land rig visibility ‘murky’ before Q2 earnings start Permian falls six to 440 in biggest basin decline Houston — The US Continue Reading
Tropical Storm Barry shuts about half of Gulf of Mexico oil, gas output: US BSEE
US offshore drillers have shut 1 million b/d, or 53%, of Gulf of Mexico oil production and 1.2 Bcf/d, or 45%, of natural gas output as Tropical Storm Barry heads Continue Reading
U.S. oil companies slash Gulf of Mexico production as storm bears down
U.S. oil producers on Wednesday cut nearly a third of Gulf of Mexico crude output as what could be one of the first major storms of the Atlantic hurricane season Continue Reading
U.S. crude stocks fall nearly 10 million barrels: EIA
U.S. crude oil stockpiles fell by nearly 10 million barrels last week, far more than expected, as refineries processed the most crude oil since January, the Energy Information Administration said Continue Reading
A hurricane is forecast to strike Louisiana on Saturday with up to 18 inches of rain
Visible satellite loop over Invest 92L. (NASA) The National Hurricane Center is predicting the season’s first hurricane, to be named Barry, will develop over the Gulf of Mexico and strike Continue Reading
WoodMac: Permian Will Need Extra Oil Pipelines To Cope With Surging Output
Despite the ongoing rush to build oil pipelines to carry crude from the Permian to the Gulf Coast and an overbuild in the short-term, the fastest-growing U.S. shale play will Continue Reading
Gulf of Mexico drillers shutter 32% of oil production, 18% of gas output ahead of storm: US BSEE
US offshore drillers have shut-in 602,715 b/d of oil production, about 32% of the Gulf of Mexico’s total output, and 496 MMcf/d of natural gas output, or 18% of the Continue Reading
U.S. crude oil output seen rising to record high in 2019: EIA
U.S. crude oil production will rise to an all-time high of 12.36 million barrels per day in 2019 from a record high of 10.96 million bpd last year, the Energy Continue Reading
STEO Highlights: EIA sees oil demand growing slower than previously expected
The US Energy Information Administration said Tuesday that it expects global oil consumption to average 101 million b/d in 2019, up 1.1 million b/d from 2018, an indicator that demand Continue Reading
Short-Term Energy Outlook
Brent crude oil spot prices averaged $64 per barrel (b) in June, $7/b lower than in May 2019 and $10/b lower than the price in June of last year. The Continue Reading
Oil majors evacuate U.S. Gulf platform staff before storm
Major U.S. oil producers on Tuesday began evacuating and shutting in production at their deepwater Gulf of Mexico platforms in advance of a tropical disturbance expected to become a storm Continue Reading
Eagle Ford – update through March 2019
This interactive presentation contains the latest oil & gas production data from all 22,637 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through March Continue Reading
Permian Poised for Next Pipeline Wave
Wood Mackenzie projects up to 500,000 bpd of new crude oil takeaway capacity from the Permian Basin to the U.S. Gulf Coast. Thanks to growing production from the Permian Basin, Continue Reading
U.S. oil output gains to outpace global demand growth until 2020: Goldman
Goldman Sachs said growth in U.S. shale production is likely to outpace that of global demand at least through 2020 and limit gains in oil prices despite output curbs led Continue Reading
The Biggest Oil & Gas Winners In Q2 2019
The first half of the year is in the books. Following its best quarterly performance in nearly ten years in the first quarter, the S&P 500 returned 3.8 percent in Continue Reading
Is US Shale Cannibalizing Itself?
U.S. oil production continues to grow, but the shale industry is in the midst of deceleration as low oil prices and a financial squeeze slow the pace of drilling. The Continue Reading
Report: Texas, Permian lead the way in energy security
As the nation celebrated its independence, a new report from Texans For Natural Gas details how the Lone Star State and the Permian Basin have led to a national independence Continue Reading
World Oil Production as of March 2019
The data for the charts below were taken from the EIA’s Monthly Energy Review . It is crude plus condensate through March 2019 and is in thousand barrels per day. Continue Reading
Permian – update through March 2019
These interactive presentations contain the latest oil & gas production data from all 21,384 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009, through March Continue Reading
U.S. Oil Rig Count Falls Amid Rising Production
The US oil and gas rig count fell by 4 this week, according to Baker Hughes, which reported before Independence Day this week. The total number of active oil rigs Continue Reading
U.S. Shale Industry Faces More Headwinds
Oil prices are set to post a loss for the week despite being bolstered by the OPEC+ deal and the forthcoming restart of trade talks between Washington and Beijing. It Continue Reading
A Fracking Experiment Fails to Pump as Predicted
Two years ago, Encana Corp. unveiled a supersize fracking operation that many said would represent the future of the U.S. drilling boom. To reduce costs and avoid production problems that Continue Reading
Shale Industry Has Destroyed 80% Of Its Value Since 2008
Recently, the former CEO of the largest shale gas producer in the United States told a roomful of conference goers what any competent financial analysis would have revealed many years Continue Reading
Peak Oil Demand Is Coming, Will Transform Exploration Sector
The global trend toward alternative energy sources and shifting stakeholder sentiments could mark the demise of the oil and gas exploration sector. It may also represent an opportunity to transform. Continue Reading
Crude and gasoline stockpiles down less than expected in week: EIA
NEW YORK (Reuters) – U.S. crude and gasoline stockpiles fell less than forecast last week, while distillate inventories rose unexpectedly, the Energy Information Administration said on Wednesday. FILE PHOTO: Crude Continue Reading
Crude and gasoline stockpiles down less than expected in week: EIA
U.S. crude and gasoline stockpiles fell less than forecast last week, while distillate inventories rose unexpectedly, the Energy Information Administration said on Wednesday. Crude pared gains after the report. U.S. Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending June 28, 2019 U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 28, 2019, Continue Reading
US Oil And Gas M&A Remains Lackluster
While the value of mergers and acquisitions in the oil and gas sector in Q2 was greater than in Q1, they are still unremarkable, considering that almost 90% of the Continue Reading
Oxy-Anadarko Deal Anchors Muted M&A Rebound in 2Q
Drillinginfo analysis finds that U.S. M&A deal value rebounded to $65 billion in the second quarter, driven largely by the Oxy-Anadarko deal. Coming off a 10-year low in the first Continue Reading
Gloomy Investor Sentiment Darkens Outlook For Oil & Gas
U.S. oil production rose by another 246,000 bpd in April, compared to a month earlier, according to the EIA . But the industry outlook continues to darken. Those production gains Continue Reading
Q2 a cautious period for upstream E&Ps, but little change seen for rest of 2019
Second-quarter 2019 was a cautious quarter for US upstream operators, and little change is expected in the second half of the year apart from the Permian Basin in the Q3 Continue Reading
U.S. Oil Companies Find Energy Independence Isn’t So Profitable
For decades, elected leaders and corporate executives have chased a dream of independence from unstable or unfriendly foreign oil producers. Mission accomplished: Oil companies are producing record amounts of crude Continue Reading
U.S. crude to trickle onto new Gulf Coast lines as connections, storage opens: sources
A year-old bottleneck of crude in West Texas is shifting east as new pipelines prepare to begin operations without enough connections or storage for the smooth movement of shale oil Continue Reading
Phillips 66’s oil port off Corpus Christi aims to load 16 VLCCs a month
Phillips 66’s proposed deepwater oil export terminal off Corpus Christi, Texas, expects to load up to 16 VLCCs a month, joining an already competitive market to move the next wave Continue Reading
THE UNITED STATES A NET OIL EXPORTER?? The Dirty Little Secret
The United States became a net oil exporter for the first time in 75 years, or so they say. While the U.S. may indeed be exporting more petroleum than it Continue Reading
Debt-Laden Weatherford Files For Bankruptcy Protection
The world’s fourth-largest oilfield services provider, Weatherford International, said that it had started a financial restructuring by filing for Chapter 11 bankruptcy protection in the U.S. in a bid to Continue Reading
U.S. Drilling Slowdown Triggers Oil Bankruptcy
A slowdown in U.S. drilling activity is taking a toll on the oil patch as Weatherford International PLC has become one of the biggest oil-and-gas bankruptcies in years. Among the Continue Reading