A ‘volcano’ at the bottom of the gulf
Timmy Couvillion first saw the oil plume at the bottom of the Gulf of Mexico more than two months ago, but the memory still makes his skin crawl. His small Continue Reading
The Dark Outlook For Non-OPEC Oil
The period from 2010 to 2014 witnessed the highest sustained oil price environment in recent memory, with Brent averaging $110 a barrel and WTI $95 a barrel. This high oil Continue Reading
U.S. Accounts For 98% Of All Global Oil Production Growth
Earlier this month BP released its Statistical Review of World Energy 2019 . The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level Continue Reading
Shale Boom Changes U.S. Position In Persian Gulf Conflict
The recent spike in tensions between the U.S. and Iran has pushed oil prices higher mostly because of the possibility—however slim—that Iran may decide to go through with its threat Continue Reading
U.S. shale’s growth rate peaked last year, slower gains ahead
The U.S. shale industry’s sizzling growth rate likely peaked last year, according to a survey of major forecasters, cooled by investors demanding financial returns over increased oil output. Photo Around Continue Reading
US E&P Workers Getting Paid More in 2019
Engineering technicians/analysts, reservoir engineers and workers in geoscience disciplines are enjoying higher salaries in 2019, according to a report from CSI Recruiting. Crude production in the U.S. has continued to Continue Reading
U.S. oil output in April exceeds 12 million bpd to record monthly high: EIA
U.S. crude oil output in April rose to a fresh monthly record, surpassing 12 million barrels per day, according to a government report on Friday. The United States produced 12.16 Continue Reading
Petroleum Supply Monthly
Supply and disposition of crude oil and petroleum products on a national and regional level. The data series describe production, imports and exports, movements and inventories. PDF and CSV files Continue Reading
Shale Patch Struggles 5 Years After Crude Collapse
It’s been five years since crude started a precipitous drop that eventually saw it hit a low of $26 a barrel and shale producers are still feeling the pain. (Bloomberg) Continue Reading
Disposal Firm Adds Permian Injection Capacity
Milestone Environmental Services reported that it has acquired leases and injection permits in Howard County, Texas. Milestone Environmental Services reported Wednesday that it has acquired three leases and four injection Continue Reading
US Drillers Add Four Rigs
This week’s addition of oil rigs was offset by a decline in gas rigs. The U.S. added four oil rigs and dropped four gas rigs this week, according to weekly Continue Reading
Colorado county sets moratorium on new oil and gas drilling permits
Boulder County, Colorado, on Friday halted accepting new oil and gas drilling and seismic testing permits for nine months, the latest community in the state to enact measures aimed at Continue Reading
Oilfield firm Weatherford International files bankruptcy plan
Oilfield services firm Weatherford International on Friday filed a prepackaged restructuring plan with the U.S. Securities and Exchange Commission, according to a regulatory filing. The company, which has struggled under Continue Reading
Oil Rig Count Sees Small Rise Ahead Of OPEC Meeting
this week according to Baker Hughes, but the 4-rig decrease in the number of gas rigs was completely offset by an equal increase to the number of oil rigs. There Continue Reading
Exclusive: Plains’ Cactus II oil pipeline to begin line fill in a week – source
Plains All American Pipeline LP’s 670,000 barrel-per-day (bpd) Cactus II oil pipeline system from the Permian Basin to the Corpus Christi, Texas area will commence line fill within a week, Continue Reading
Shale Executive Sees “Another Round Of Bankruptcies” Looming
The recent downturn in oil prices forced a slowdown in the U.S. shale industry, and top executives appear to be gloomier than ever. According to a survey by the Dallas Continue Reading
US oil, gas rig count rises by 11 on week to 1,051: S&P Global Platts Analytics
The US oil and gas rig count rose by 11 week on week to 1,051, S&P Global Platts Analytics said Thursday, as the rig count continued a familiar seesaw pattern Continue Reading
Oil Industry Boosts Spending… But There’s A Catch
Oil prices have seesawed over the past few years, still far below the pre-2014 highs, but upstream spending is expected to continue to rise in the years ahead, according to Continue Reading
Is Argentina’s Shale Boom Finally Taking Off?
After years of drilling and development and billions of U.S. dollars of investment, Argentina’s vast shale play Vaca Muerta has finally seen the first tangible results with the first exports Continue Reading
U.S. crude stocks slump nearly 13 million bbls as exports hit record high: EIA
U.S. crude oil stocks fell by nearly 13 million barrels last week, the most in nearly three years, as exports hit a record high, the Energy Information Administration said on Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending June 21, 2019 U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 21, 2019, Continue Reading
Why Rapid Shale Production is a Perk
The accelerated production of shale wells leaves them uniquely positioned to take advantage of the peaks and plateaus in oil prices. Since the early days of shale oil and gas Continue Reading
Oil demand won’t peak until 2035
“At some point in the next 20 years, it’s likely we’re going to see oil demand peak. Our own view at Wood Mackenzie, is around 2035, 2036,” Wood Mackenzie chairman Continue Reading
The No.1 Trade-Off For U.S. Shale Companies
Volatile but range-bound oil prices are limiting the ability of U.S. oil firms to pay down the debts they had accumulated in order to boost drilling activities and production. On Continue Reading
TROUBLE AT THE BAKKEN: Oil Production Finally Peaking?
Is the mighty Bakken Shale Oil Field finally peaking? Well, according to the data from the folks at the North Dakota Department of Mineral Resources, oil production in the Bakken Continue Reading
North Dakota – update through April 2019
These interactive presentations contain the latest oil & gas production data from all 14,703 horizontal wells in North Dakota that started production from 2005 onward, through April. Oil production in Continue Reading
New Estimate for an Oil Leak: A Thousand Times Worse Than Rig Owner Says
A new federal study has found that an oil leak in the Gulf of Mexico that began 14 years ago has been releasing as much as 4,500 gallons a day, Continue Reading
Former Shale Gas CEO Says Fracking Revolution Has Been ‘A Disaster’ For Drillers, Investors
Steve Schlotterbeck, who led drilling company EQT as it expanded to become the nation’s largest producer of natural gas in 2017, arrived at a petrochemical industry conference in Pittsburgh Friday morning with a blunt message Continue Reading
Shale Pioneer: Fracking is an “Unmitigated Disaster”
Fracking has been an “unmitigated disaster” for shale companies themselves, according to a prominent former shale executive. “The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold Continue Reading
US Tight Oil Estimate and Projection to Dec 2019
New tight oil estimates were recently released by the EIA. The chart below compares estimates from Dec 2018 to May 2019, where the Dec 2018 estimate is that estimate with Continue Reading
U.S. drillers add oil rigs for first week in three: Baker Hughes
U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week. Big energy Continue Reading
US Has a Net Loss of Three Rigs
The nation’s addition of one oil rig was offset by a loss of four gas rigs this week. The United States gained one oil rig and lost four gas rigs Continue Reading
Controversial Dakota Access pipeline boosts oil production
Oil production in the US state of North Dakota has increased by more than a third – to 1.4m barrels a day – two years after a controversial pipeline Continue Reading
Oilfield Services Are Flexing Their Muscles
After several years in the doldrums, oilfield service companies are beginning to raise prices for their products and services, according to Rystad Energy. “Oil and gas investments are on the Continue Reading
US oil, gas rig count drops 13 to 1,040 on week: S&P Global Platts Analytics
Highlights US oil and gas rig count continues weekly seesaw Permian had biggest loss this week, down 14 to 434 But Permian rigs should increase later this year Houston — Continue Reading
Is Bakken Oil Production Set For An Unexpected Drop?
North Dakota set an oil production record in January this year, and crude output in the state home to the Bakken shale play held close to that record level in Continue Reading
Global Oil Market Surprisingly Oversupplied
Despite OPEC oil production cuts and Venezuela and Iran sanctions, the world seems to be oversupplied with crude oil, with the excess amounting to some 90 million barrels above the Continue Reading
Global Economy Propped Up By U.S. Shale Oil Ponzi Scheme
Few analysts realize that for the past decade, the global economy has been propped up by the U.S. Shale Oil Ponzi Scheme. Without the huge increase in U.S. shale oil Continue Reading
Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the week ending June 14, 2019 U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 14, 2019, Continue Reading
Permian Oil Output Set to Keep Growing
Permian oil production is forecasted to hit 4.226 million barrels per day next month. The U.S. Energy Information Administration (EIA) has forecasted that Permian oil production will hit 4.226 million Continue Reading
Lime Rock to Buy Oklahoma Assets from BP
Houston-based Lime Rock Resources will purchase oil and natural gas properties in Oklahoma from BP America Production Company. Houston-based Lime Rock Resources will purchase oil and natural gas properties in Continue Reading
U.S. shale oil output to rise to record 8.52 million barrels per day in July: EIA
U.S. oil output from seven major shale formations is expected to rise by about 70,000 barrels per day (bpd) in July to a record 8.52 million bpd, the U.S. Energy 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
The Permian Craze Is Fizzling … But Shale Oil Production Isn’t
The frenzied Permania that had oil and gas companies rushing to the O&G hotspot may be on the outs, but production in the industry’s number one basin has not, according Continue Reading
Why The Oklahoma Shale Boom Isn’t Taking Off
Just three years ago it was the new hot spot in U.S. shale, the “Permian Jr.”, and the place where many pinned their hopes for the next oil boom. Now, Continue Reading
Gazprom Neft says Bazhenov shale oil output to reach viability by 2022-2023
Russia’s Gazprom Neft expects lifting costs at Bazhenov formation, the world’s largest shale oil resource, to gradually fall and reach an acceptable level for viable production by 2022-2023, a top Continue Reading
Oil Inches Higher On Falling Rig Count
The the number of active oil and gas rigs in the United States fell again this week according to Baker Hughes, as the overall rig count reaches the lowest point Continue Reading
Tighter oil market could be ‘short-lived’ on 2020 non-OPEC supply: IEA
OPEC will have an uphill battle if it wants to keep oil markets balanced next year as a potentially tighter oil market in the second half of 2019 starts to Continue Reading
Interest dims in Oklahoma shale play as drilling results disappoint
It promised to be the next great shale play, but an oil-and-gas-rich area of central and south Oklahoma has confounded many of the producers lured there, with one of its Continue Reading
The U.S. Cements Its Position As World Leader In Oil Reserves
In its latest annual report of world recoverable oil resources, Rystad Energy finds that the United States currently holds 293 billion barrels of recoverable oil resources. This is 20 billion Continue Reading