Chesapeake Energy Declares ‘Propageddon’ With Record Shale Frack
Mega amounts of sand are used to prop open cracks in the rock Production boosted 70 percent as a result of the new method The era of the monster frack Continue Reading
After Lean Years, Big Oil May Emerge Stronger Than Ever
Big Oil is clawing its way back. After a heart-stopping plunge in the price of crude over the last two years, along with slashed dividends and the elimination of tens Continue Reading
No Near-Term Recovery For Offshore Rig Market
The offshore rig market is currently in its worst slump since the mid-1980s, according to the October 2016 issue of RigOutlook. Offshore drilling in many parts of the world is Continue Reading
OPEC Price War Offers Meager Rewards as Shale Learns to Survive
Surviving boom and bust cycle affirmed shale viability: Exxon U.S. executives say they can grow output at $50 a barrel When the Organization of Petroleum Exporting Countries started its price Continue Reading
Exxon boss, Saudi minister differ on oil supply outlook
Exxon Mobil’s boss Rex Tillerson and Saudi Arabia’s energy minister on Wednesday took opposing views on declining investment in the oil sector setting the stage for a possible major supply Continue Reading
Exxon CEO Doesn’t See Supply Shortage Pushing Up Oil Prices
Tillerson disagrees with Saudi Arabia about future supplies Exxon boss presents upbeat outlook for U.S. shale production The world’s largest publicly listed oil company says ample production from U.S. shale Continue Reading
Big Oil to Start Spending Again After Two-Year Slump
LONDON—The prospect of rising oil prices has the global energy industry considering a strategy that has been unthinkable for much of a two-year-long market slump: Making new investments. Big oil Continue Reading
Deepwater projects survive low oil price, executives say
The deepwater oil industry is not dead, even after the brutal drop in oil prices in recent years, but activity will focus on regions such as Brazil and the Gulf Continue Reading
Shale Drillers Are Going Long — Not Deep — in the Oil Patch
SM Energy’s $1.6 billion Permian buy is ripe for long wells A well in Ohio holds the unofficial record at 18,544 feet Long is the new deep. Just ask SM Continue Reading
Oasis Deal Shows Bakken’s Not Dead Yet as Drilling Costs Drop
North Dakota drilling costs have fallen by half since 2014 Exit of other explorers ‘creates some opportunity,’ CEO says Oasis Petroleum Inc.’s double-down on North Dakota’s Bakken oilfields shows the Continue Reading