Exxon Fails to Replace Oil, Gas Production for First Time in 22 Years
The development speaks to the depth and power of a price crash that has intensified this year as crude continues to sell for around $30 a barrel. Finding new oil Continue Reading
The Great Global Famine – The Aftermath of Peak Oil
Humanity has struggled to survive through the millennia in terms of Nature’s tendency to balance population size with food supply. The same is true now, but population numbers have been Continue Reading
Exxon Fails to Replace Production for First Time in 22 Years
Exxon Mobil Corp. failed to replace all of the oil and natural gas it pumped last year with new discoveries and acquisitions for the first time in more than two Continue Reading
Whiting Said to Suspend Plans to Drill 20 Bakken Wells
Whiting Petroleum Corp. is suspending plans to drill at 20 Bakken and Three Forks well sites as low oil prices continue to weigh heavily on the exploration and production company. Continue Reading
Enbridge Looks Beyond Oil Sands as Rout Casts Doubts on Projects
Enbridge Inc. is looking for ways to reduce its dependence on oil-sands growth as a prolonged crude price collapse casts doubts over the future of projects in Western Canada. The Continue Reading
U.S. to open more drilling sites in Gulf of Mexico
Opening up more acreage in the Gulf of Mexico to potential oil and gas drillers could bring in more revenue to federal and state coffers, a regulator said. The U.S. Continue Reading
U.S. Oil-Rig Count Continues to Fall
The U.S. oil-rig count fell by 26 to 413 in the latest week, according to Baker Hughes Inc., maintaining a recent clip of sharp declines. The number of U.S. oil-drilling Continue Reading
Rig count
The latest drilling dive continued during the week ended Feb. 19, with the US rig count shedding 27 units to bring the current total to 514, Baker Hughes Inc. reported. Continue Reading
Is Saudi Arabia Winning The War Against Shale?
Saudi officials insist the kingdom’s oil production strategy is not aimed at putting U.S. shale producers out of business, a message that has been repeated to visiting U.S. policymakers. The Continue Reading
The Stressed-Out Oil Industry Faces an Existential Crisis
Trying to Predict Oil Prices Is a Fools Game: UBS The Saudis may go public , OPEC’s in disarray, the U.S. is suddenly a global exporter , and shale drillers Continue Reading