Chevron unveils large E&P spending cuts
Chevron, the US oil and gas group, has announced steep cuts in its spending on production and exploration, as it set out a plan to cut capital expenditure in 2016 Continue Reading
Billions of Barrels of Oil Vanish in a Puff of Accounting Smoke
In an instant, Chesapeake Energy Corp. will erase the equivalent of 1.1 billion barrels of oil from its books. Across the American shale patch, companies are being forced to square Continue Reading
Zombies appear in U.S. oilfields as crude plumbs new lows
Drained by a 17-month crude rout, some U.S. shale oil companies are merely hanging on for life as oil prices lurch further away from levels that allow them to profitably Continue Reading
Oil Spending Seen Down $70 Billion Next Year, Rystad Says
Reduced spending by oil explorers will lead to a global shortage of crude within the next few years, according to industry consultant Rystad Energy. While the world’s exploration and production Continue Reading
EIA Says Shale Continues to Decline
The EIA’s Drilling Productivity Report has US shale oil on a steep decline. The below shale oil production charts are the EIA’s estimate of what shale production will look like Continue Reading
Short-Term Energy Outlook
Highlights North Sea Brent crude oil prices averaged $44/barrel (b) in November, a $4/b decrease from October. Global oil inventories are estimated to have increased by 1.3 million barrels per Continue Reading
Oil Rout Accelerates Selloff in Master-Limited Partnerships
The oil selloff has hurt energy investments across the board, including one that has attracted billions through its reputation as a haven from big drops in the price of crude. Continue Reading
Outlook for Texas energy sector uncertain
The outlook for the oil-based economy in Texas is anything but certain, though some form of recovery is expected later in 2016, an economist said. The Texas Petro Index, a Continue Reading
The real danger of the oil collapse
The collapse of the housing bubble sent the world spiraling into recession. The collapse of the energy and commodity bubble threatens to be just as damaging. That few are willing Continue Reading
US EIA again sees oil production dropping in Eagle Ford, Bakken, Niobrara plays
The US Energy Information Administration Monday again forecast oil production to fall in the Eagle Ford, Bakken and Niobrara plays in December, marking the 10th straight month of projected declines, Continue Reading