Small Crude Inventory Draw Disappoints Markets
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 879,000 barrels for the week ending July 30, bringing the total 2021 crude draw so Continue Reading
DUC Well Inventory Plunges As Drillers Frack More Than They Drill
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in Continue Reading
Merger Mania Paves The Way For A New Era In U.S. Shale
Mergers and acquisitions are how an industry normally handles tough times. Asset prices drop, some companies can no longer survive on their own and become targets for those with the Continue Reading
US May Oil Production Growth Surprises
U.S. May production surprised to the upside by 80 kb/d. Production increased from 11,151 kb/d in April to 11,231 kb/d in May. It was also 175 kb/d higher than January’s. Continue Reading
U.S. Airports Are Facing Serious Jet Fuel Shortages
A shortage of tanker truck drivers has caused fuel delivery disruptions at airports from Nantucket to California. The Federal Aviation Administration issued a “Notice to Airmen” warning that some airports Continue Reading
Shale Giants Hit Hard By Poor Hedging Decisions
The lack of growth in shale production, currently inching higher but primarily from DUC- Drilled but Uncompleted wells, has been largely attributed to capital discipline. Shale companies have spoken almost Continue Reading
The U.S. Retains Its Crown As World’s Top Oil Producer
Last month BP released its Statistical Review of World Energy 2021 . The Review provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. Continue Reading
New Mexico Breaks Oil Production Record
New Mexico broke an oil production record in May, pumping an average 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports , citing government Continue Reading
New Mexico Oil Output Signals Modest Shale Recovery
New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic. (Bloomberg) — New Mexico’s oil Continue Reading
New Mexico Posts Oil-Output Record as Permian Basin Bounces Back
New Mexico’s oil production surged to a record in May, lifting output to the second-highest in the nation and highlighting the Permian Basin’s role in leading the shale industry’s rebound Continue Reading