‘Selfish’ oil firms relish new production despite glut
As oil firms scrap dozens of billions worth of mega projects essential for supplies in decades ahead, fresh output from huge fields already being developed is set to weigh for Continue Reading
Oil production in federal Gulf of Mexico projected to reach record high in 2017
U.S. Gulf of Mexico (GOM) crude oil production is estimated to increase to record high levels in 2017, even as oil prices remain low. EIA projects GOM production will average Continue Reading
Foiled by Oil
People do use their oil shares to buy houses, cars, planes and college educations. When crude oil prices hit $140 per barrel, pension funds and college endowments rejoiced. Our 2006 Continue Reading
Oil is now so cheap even pirates aren’t stealing it any more
Stealing the oil from a ship is no mean feat. Oil tankers are enormous, and ships that carry expensive cargo are designed to be difficult to board. Stealing can mean Continue Reading
Noble Energy Writes Down $1.27 Billion in Assets
Noble Energy Inc. swung to a multibillion-dollar loss as the oil-and-gas producer wrote down the value of assets amid the decline in energy prices. Still, excluding certain costs, Noble posted Continue Reading
Bakken December Data, Big Decline
Bakken production was down 28,604 barrels per day to 1,096,044 bpd. All North Dakota was down 29,506 bpd to 1,152,280 bpd. This is just the last two years of the Continue Reading
Deepwater Sector In Deep Trouble
Oil majors’ exit from pricey Gulf of Mexico projects, amid dozens of deferrals in deepwater exploration and production, is leaving the sector high and dry. Drilling activity in the deepest Continue Reading
North Dakota Oil Production Dips As Low Prices Weigh
North Dakota’s oil output fell in December for the first time in three months, as producers reined in their wells and drilled less in a reaction to the plunge in Continue Reading
Shale Faces March Madness as $1.2 Billion in Interest Comes Due
The U.S. shale industry must come up with $1.2 billion in interest payments by the end of March as $30-a-barrel oil makes it harder for companies to scrape up the Continue Reading
North Dakota Oil Production Drops Amid Crude Price Slump
North Dakota said Wednesday crude-oil production in December fell 2.5% to the lowest level in more than a year, and the state’s top energy regulator said Bakken Shale output will Continue Reading