Schlumberger delivers optimistic outlook for North American and international oil markets Reports earnings of 30 cents per share, beating Wall Street estimates of 26 cents per share Operating margins almost Continue Reading
The number of oil and gas rigs in the United States is up 7 this week, according to Baker Hughes , which pegged the total rig count at 491, up Continue Reading
Permian Basin adds rigs: up 11 to 259 Oil jump likely caused recent rig adds 50-100+ more US rigs may start up in H2 The US oil and gas rig Continue Reading
The U.S. oil and gas sector is recovering from last year’s market slump. But unlike the previous boom-and-bust cycles, the industry has held off on boosting production and has focused Continue Reading
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Continue Reading
The United States shale sector is at a crossroads. Houston, the capital of the nation’s oil and gas industry, is at the metaphorical and industrial center of a struggle for Continue Reading
Oilfield company Halliburton Co (HAL.N) on Tuesday topped Wall Street earnings estimates and offered an upbeat view for energy services demand as the downturn in oil drilling activity recedes. The Continue Reading
Chief executives at US shale companies are continuing to receive bumper pay packets despite years of dismal returns, according to a new report. While most US oil bosses had their Continue Reading
U.S. energy firms added oil and natural gas rigs for a third week in a row for the first time since May even though oil prices eased for a second Continue Reading
Energy companies are raising money again from Wall Street at superlow borrowing costs, thanks in part to higher oil prices. The one thing most investors don’t want them to do Continue Reading
New Mexico, the Land of Enchantment, was concerned when Biden’s pause on oil and gas drilling leases took hold, but six months into the new administration the state’s oil industry Continue Reading
Consolidation is a troubled industry’s best friend—and last year’s crisis in oil and gas brought about by the pandemic was no exception. Mergers and acquisitions started later than they normally Continue Reading
U.S. shale oil production will increase by a modest 42,000 bpd in August, according to the Energy Information Administration. In its latest Drilling Productivity Report , the EIA forecast that Continue Reading
American drillers have restored less than 20% of the oilfield services jobs lost due to the pandemic, with companies favoring investor returns over boosting output, according to a trade group. Continue Reading
Crude output from seven major shale formations is expected to rise by 42,000 bpd in August, to 7.907 million bpd, compared with a 28,000 bpd rise in July, according to Continue Reading
The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs Continue Reading
U.S. oil and gas mergers surged last quarter with the most $1 billion-plus combination since 2014, according to data released on Monday, as rising energy and share prices led to Continue Reading
Leading international energy companies are resisting the temptation to rush and spend an unexpected windfall from rallying oil and natural gas prices as they focus on longer-term energy transition challenges, Continue Reading
Following a deadlock in OPEC+ negotiations at the July 2021 meeting, oil prices briefly rose above $75 per barrel at the prospect of the alliance keeping output stable from August Continue Reading
U.S. energy firms added oil and natural gas rigs for a second week in a row as oil prices recently rose to their highest since Oct. 2018, prompting some drillers Continue Reading
The number of oil and gas rigs in the United States is up 4 this week, according to Baker Hughes , with the total rig count at 479, up 221 Continue Reading
Thousands of oil wells can become orphaned as bankruptcies occur State and federal funding are limited for cleanup, plugging efforts White House, lobbying groups propose cash injections, reforms A growing Continue Reading
U.S. crude oil production is not expected to pick up a significant growth pace at least until the end of this year, the Energy Information Administration (EIA) said in its Continue Reading
After seven consecutive weeks of gains, oil prices have gone into reverse gear once again, thanks mainly to the latest OPEC+ spat that left everyone wondering what to expect next. Continue Reading
Some of America’s biggest oil groups are racking up tens of billions of dollars in hedging losses despite soaring crude prices, as contracts signed during last year’s crash left them Continue Reading
U.S. shale producers started boosting this week hedges to lock in the price of oil they plan to pump in the coming months, after the OPEC+ drama left the market Continue Reading
Argentina is working to boost its oil production as well as investing in shale as the Latin American oil and gas giant continues to focus on traditional energy. June ended Continue Reading
OPEC’s sudden disarray would seem to be an opportunity for U.S. shale producers to lock in profits, with oil prices near multi-year-highs, but sources at those companies say they are Continue Reading
The number of oil and gas rigs in the United States is up 5 this week, according to Baker Hughes , with the total rig count holding fast at 475, Continue Reading
Oil companies are betting that if they sell land, buyers will come, as crude prices have soared more than 50% this year, fueling the most robust pipeline of deals in Continue Reading
The stench bellows from the 1,500-foot hole in the ground, the remains of a well long ago abandoned by a bankrupt oil company. Despite its rotten-egg smell, the culprit is Continue Reading
Banks have started to cut their exposure to the U.S. shale patch, seeing more than 100 producers and oilfield services firms go bust last year and feeling the environmental, social, Continue Reading
Chevron Corp (CVX.N) is looking to sell two collections of conventional oil and gas fields in the Permian Basin valued at more than $1 billion combined, three sources told Reuters. Continue Reading
A pump jack operates in the Permian Basin oil and natural gas production area near Odessa, Texas, U.S., February 10, 2019. Picture taken February 10, 2019. REUTERS/Nick Oxford/Files Oil price Continue Reading
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has declined by 27 percent since the peak in June 2020, the Energy Information Administration (EIA) has Continue Reading
Despite a strong rebound in oil prices, seeing them hit three-year highs, U.S. shale oil producers are sticking to their output discipline, Reuters reports , citing rig count data and Continue Reading
The US shale patch is holding back on big production boosts despite bumper profits and surging crude prices, as executives seek to avoid being punished again for responding with rapid Continue Reading
Higher oil prices and capital expenditure discipline are setting the stage for the highest free cash flow on record for the world’s exploration and production companies this year. And U.S. Continue Reading
This follows on from Part I, which looked at EIA reserves and revision estimates for US as a whole and the GoM, and concentrates on the on-shore tight oil and Continue Reading
Oil price gains raise the ante but shale producers sit pat Restraint gives OPEC room to add more oil to global market Biggest shale firms focus on improving returns, not Continue Reading
Hydraulic fracturing, the technology that made the United States the world’s top oil and gas producer, has earned a really bad rap. Much of this ill reputation has had to Continue Reading
U.S. energy firms kept the number of oil and natural gas rigs unchanged this week but added rigs for an 11th month in a row as some drillers returned to Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States stayed the same this week, with the total rig count holding fast at Continue Reading
Here is a look back at oil and gas market hits and misses for the week ending June 25, 2021. (The views and opinions expressed in this article are those Continue Reading
Oil execs and producers are historically pretty good at making money. Oil is a roller coaster of an economic sector, based on a boom-and-bust model. Bankruptcy and insolvency are not Continue Reading
New Mexico has become the first major oil-producing state to see its production rate rebound to pre-pandemic levels, but according to legislative analysts cited by the AP, the situation remains Continue Reading
Oil rigs, horizontal oil rigs up 16 each to 448/335 Bakken Shale gains four rigs, for total of 23 Upstream optimism may be greater than forecast The US oil and Continue Reading
The oil and gas sector continued its strong growth in Q2, according to executives polled by the Dallas Fed in its most recent survey published on Wednesday. The survey’s broadest Continue Reading
U.S. Interior Secretary Deb Haaland on Wednesday told a congressional hearing that there is no plan to permanently ban new oil and gas drilling on federal land but her agency Continue Reading
Weekly Petroleum Data for the week ending June 18, 2021 U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending June 18, 2021 which was Continue Reading
