Highlights Open season or FID declared for 1.7 Bcf/d capacity Projects delays gas pipeline constraints to late 2025 Crude constraints unlikely before late 2025 or later Permian Basin producers are Continue Reading
America’s shale oil companies are enjoying a cash bonanza, as soaring oil prices and months of capital restraint transform the fortunes and balance sheets of a sector once notorious for Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise by 88,000 barrels per day (bpd) to a record 5.219 Continue Reading
Thanks to a remarkable oil and gas boom, the United States has achieved the long-sought goal of energy self-sufficiency: We now produce more oil and refined products, natural gas and Continue Reading
The number of total active drilling rigs in the United States rose by 9 this week, on top of the 7 rig increase in the week prior, according to new Continue Reading
Soaring Production Costs Stoke Fears of US Shale Slowdown – Just as US shale producers were poised to capitalize on high crude prices and bring new production to the markets, Continue Reading
Highlights Permian adds most rigs on week, up 4 to 329 Most basins gain rigs; only DJ loses a rig Total rig count is approaching pre-pandemic levels The US oil Continue Reading
American drillers will increase oil production at a slower pace than previously expected amid surging costs, stymieing the Biden administration’s hope that the industry will boost output to tame fuel Continue Reading
U.S. shale focuses on returning capital to shareholders in 2022. Deloitte: the shale patch is on track for massive free cash flows of a combined $172 billion in 2022 alone. Continue Reading
The Biden administration has urged the industry to step up production. Oil prices are at their highest in years and politicians want companies to pump more. But most large American Continue Reading
The number of total active drilling rigs in the United States rose by 7 this week, after an increase of 3 rigs in the week prior, according to new data Continue Reading
Frack crew, supply chain shortages slow growth More bullishness on growth in 2023 Crude oil volumes out of the Permian Basin are still rising to new highs despite supply chain Continue Reading
After suffering through a wave of bankruptcies during the covid pandemic, the oilfield services sector is bouncing back in a big way as the world attempts to boost oil production. Continue Reading
BloombergNEF: hedging losses are mounting in U.S. shale. Hess Corp found itself spending $325 million in March to exit hedges at a serious loss. Shale giant Pioneer lost $2 billion Continue Reading
A drilling boom in America’s oil heartlands has triggered a sharp reversal of fortunes for the country’s long-suffering oilfield services groups as they reap the rewards of the scramble to Continue Reading
Mr. Messler is an oilfield veteran, recently retired from a major service company. During his thirty-eight year career he worked on six-continents in field and… The U.S. government appears to Continue Reading
Chevron will produce the equivalent of about 725,000 barrels of oil daily in the Permian Basin this year. Chevron Corp. lifted its production target in North America’s biggest oil field Continue Reading
U.S. energy firms last week added oil and natural gas rigs for a record 21 months in a row as high prices and prodding by the federal government prompted some Continue Reading
The rig count has increased once again, hitting levels not seen since April 2020. Russia’s invasion of Ukraine has only added to the demand for drilling, with the rig count Continue Reading
When Jeremy Davis was laid off from his oilfield job in Texas in 2020, he did not want to leave the industry after 17 years in oil and gas. But Continue Reading
Earthquakes were never anything people in West Texas thought much about. Years would pass in between tremors that anybody felt. Even after the shale revolution arrived in force a decade Continue Reading
A recent bout of bad weather has slashed oil production in North Dakota by almost 80 percent, and restoring the lost output could take several days. North Dakota, home to Continue Reading
America’s most prolific oil field is running out of the workers, cash and equipment needed to produce more oil. In the Permian Basin, the sprawling oil-rich region in West Texas Continue Reading
Blackrock CEO Larry Fink: elevated energy prices ” will spur a huge amount of investing .” Goldman Sachs: there are five robust factors that could fuel a tripling of oil Continue Reading
The number of total active drilling rigs in the United States rose by 2 this week, after an increase of 4 rigs in the week prior, according to new data Continue Reading
Oil Analyst Sen Sees Rising Risk as SPR Impact Fades The global oil industry is on pace to repeat or even surpass the heady days of 2008 when crude ascended Continue Reading
81 percent of completed wells in the oil and gas industry were horizontal or directional in 2021. The number of completed oil and gas wells fell by 66 percent between Continue Reading
U.S. shale producers have exercised astonishing capital discipline in recent years. Despite calls on U.S. oil firms to ramp up production, many producers are being plagued by rising costs and Continue Reading
The number of Drilled but Uncompleted Wells sank to its lowest level ever recorded, according to the Energy Information’s latest Drilling Productivity Report published on Monday. The number of Drilled Continue Reading
U.S. Shale production in the seven most prolific shale basins is set to increase 132,000 bpd in May to 8.649 million bpd, according to the Energy Information Administration’s latest Drilling Continue Reading
Horizontal drilling permits for new wells in the Permian hit an all-time high in March, with 904 total permit awards, Rystad Energy said. Horizontal drilling permits for new wells in Continue Reading
The Texas Independent Producers and Royalty Owners Association notes another month of positive job growth for the Texas upstream sector in 2022. Citing the latest Current Employment Statistics report from Continue Reading
The number of total active drilling rigs in the United States rose by 4 this week, after a sizable increase of 16 rigs in the week prior, according to new Continue Reading
U.S. oil production forecasts are being revised upwards despite labor and supply chain constraints as higher prices spur more drilling and well completion activity, according to industry experts. Calls for Continue Reading
Permian at 337 rigs, still 90+ shy of pre-pandemic levels But most basins lost rigs or stood still on week March US shale permits at a monthly high The US Continue Reading
U.S. energy firms last week added oil and natural gas rigs for a third week in a row as the federal government seeks more production to help its allies wean Continue Reading
The number of total active drilling rigs in the United States rose by 16 this week. The total rig count increased to 689 this week—257 rigs higher than the rig Continue Reading
The number of total active drilling rigs in the United States rose by 3 this week. Permian rig count rose by 4 this week. Gas rig count rose by 1 Continue Reading
Oil companies are receiving major criticism over recent profits as gasoline prices continue to soar. The truth, however, is that the number of rigs drilling for oil in the United Continue Reading
WTI Cushing trading near $100/b Rig count hits 30-month high at 45 Gas production at 25-month high Surging oil prices fueled by Russia’s ongoing war in Ukraine have boosted drilling Continue Reading
Jones Act laws restrict USGC-to-USAC flows, support rail alternatives A restart of St. Croix refinery would boost gasoline, diesel supply US Atlantic Coast refiners could boost volumes of Bakken crude Continue Reading
The number of total active drilling rigs in the United States rose by 3 this week. Permian rig count rose by 4 this week. Gas rig count rose by 1 Continue Reading
War in Ukraine affects steel goods exports from both Ukraine and Russia. Shortage of steel tubing for wells has become the latest production constraint for U.S. shale. For U.S. oil Continue Reading
The U.S. shale industry is racing to ramp up production, “but it won’t be quick.” Supply chain bottlenecks are putting a cap on short term output growth. At this rate, Continue Reading
Last year, bankruptcies in the U.S. shale patch hit record levels. Now, dozens of companies have been successfully emerging from Chapter 11 bankruptcy protection, with M&A their preferred modus operandi. Continue Reading
Oil prices are sitting well above the $100 mark and show no sign of falling back any time soon, but that doesn’t mean that a wave of new production will Continue Reading
Shortages of staff and supplies are weighing on the recovery of US oilfields, derailing hopes that Texas drillers could unleash gushers of crude to help bring soaring global prices under Continue Reading
The number of total active drilling rigs in the United States rose by 7 this week, as WTI trades at more than $113 per barrel. The total rig count increased Continue Reading
The West Texas Intermediate (WTI) oil price companies need to profitably drill a new well in the U.S. is increasing, according to the Dallas Fed Energy Survey. In the organization’s Continue Reading
Startlingly large amounts of methane are leaking from wells and pipelines in New Mexico, according to a new analysis of aerial data, suggesting that the oil and gas industry may Continue Reading
