U.S. shale player Pioneer expects higher output
U.S. shale player Pioneer Natural Resources said it aims to boost production by at least 10 percent and spend around $2.6 billion despite the weakened market. Pioneer said it plans Continue Reading
Shale-rich Oklahoma facing budget crisis
While emerging as a shale leader in the United States, the governor of Oklahoma said the state is facing 2016 with a major gap in its budget. In a New Continue Reading
Appetite for mergers in energy sector drying up
Despite some planned mega-mergers, market uncertainty meant few companies were willing to join forces in last year’s weakened energy economy, analysis finds. An emailed report from consultant firm IHS found Continue Reading
Shale Explorers Pull Oil on the Cheap From Slumbering U.S. Wells
U.S. shale explorers will be able to bring new supplies to market this year even with most of the rig fleet shut down and drilling budgets cut to the bone. Continue Reading
Energy Companies Cut Drilling Budgets — And Are Punished
Wall Street has been clamoring for oil and gas companies to cut costs amid an epic energy bust, but that hasn’t stopped investors from punishing them the moment they do. Continue Reading
LOOP crude storage auction sees sustained high prices, high demand
January’s auction for crude storage space at the Louisiana Offshore Oil Port saw sustained high prices for a second month in a row, after prices jumped in December’s auction due Continue Reading
Oklahoma Oil Firm Resists Call to Shut Down Wells Amid Earthquake Concerns
A financially strapped Oklahoma oil company is defying the state regulator’s request that it shut down six wells used to dispose of wastewater, despite fears they may be contributing to Continue Reading
U.S. oil storage at record high
The amount of crude oil held at the main U.S. storage hub in Cushing, Okla., set a record to start off 2016, market analysis from Genscape finds. By more than Continue Reading
The energy sector changed forever in 2015
Two massive and permanent shifts in energy took place in 2015. The first was the beginning of the end of the oil age as Saudi Arabia’s led OPEC on a Continue Reading
Syncrude’s oil sands output down 26 percent in December
Crude oil production at Syncrude Canada’s oil sands operation averaged 238,800 barrels per day (bpd) in December, down 26 percent from November, the joint venture’s largest-interest owner, Canadian Oil Sands Continue Reading