The US oil and gas rig count leaped 30 in the week ending March 3 to 491, rig data provider Enverus said, reaching the highest total since late-April 2020, as Continue Reading
This year’s rally in oil prices brings back an all-too-familiar question for the oil market and the OPEC+ group: Will U.S. shale come back faster than expected to ruin the Continue Reading
Temperatures dipped far below normal levels in the mid-region of the US during the week ending Feb. 19, causing substantial production freeze offs and power outages at refineries, terminals, and Continue Reading
Highlights Basin capable of 200,000 b/d growth for some years Pioneer, with Parsley add, now has 20 rigs in basin Majors greatly reduced Permian rigs in past year Houston — Continue Reading
When Weatherly Oil and Gas filed for bankruptcy in February 2019, the company was walking away from several hundred Texas wells. Many hadn’t produced a drop of oil in years. Continue Reading
As thousands of oil and gas jobs disappeared during the oil price and demand crash last year, more and more former oil workers moved to jobs in the clean energy Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 this week. The total number of active oil and gas Continue Reading
Highlights Permian operators add 5 rigs week on week Potential DAPL shutdown widens Willison-Clearbrook spreads EcoPetrol to triple Permian investment The US oil and gas rig count stood steady at Continue Reading
Oil prices have staged an extraordinary rally in the last three months, rising by 50%. Biden’s presidency, the vaccine rollout, a weak dollar, low interest rates, no inflation, and hopes Continue Reading
OPEC and its allies could find managing supply to the oil market easier this year, as U.S. shale producers are still not rushing to accelerate output at $60 oil, OPEC Continue Reading
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut Continue Reading
OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States stayed the same this week. The total number of active oil and gas Continue Reading
The coronavirus pandemic, which has caused US production to drop by nearly 2 million b/d in the last year or so, has shown the vulnerability of shale development when capital Continue Reading
Restarting oil and gas wells closed by the extreme cold sweeping much of the U.S. isn’t going to be quick or easy, even once the ice thaws and power is Continue Reading
Oil’s recent rise above $60 a barrel will test the willpower of shale companies that pledged to slow drilling and repair balance sheets battered by the pandemic. The highest prices since Continue Reading
Most of the projected 3 million b/d-4 million b/d of downed US crude oil production, which went offline after power failed and wellheads froze from brutally low temperatures and ice Continue Reading
Occidental Petroleum Corp., the second-largest oil producer in the Permian Basin of West Texas and New Mexico, told buyers it will be forced to curtail deliveries due to complications from Continue Reading
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Permian oil production has plunged by as much as one million barrels a day as the coldest weather in 30 years brings havoc to a region that seldom faces frigid Arctic Continue Reading
“Unfortunately, our economic bedrock of oil and gas is under attack by an administration that is bent on eliminating millions of jobs,” Republican Congressman Brian Babin announced to the public Continue Reading
A sharp drilling slowdown in the Permian Basin last year failed to improve the shale play’s record on methane emissions, according to a report by the Environmental Defense Fund. One in 10 Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 last week. The total number of active oil and gas Continue Reading
The US oil and gas rig count moved up one to 457 in the week ending Feb. 10, rig data provider Enverus said, as growth slowed from double-digit rig increases Continue Reading
The biggest provider of oil and gas rigs to the U.S. shale patch is pushing a new pricing model as speedier drilling cuts into contractors’ revenue. Rigs are typically rented out Continue Reading
A coalition of Texas oil industry groups is pledging to end routine flaring of natural gas from wells and other facilities by 2030 amid signs that state regulators may crack Continue Reading
A sharp drilling slowdown in the Permian Basin last year failed to improve the shale play’s record on methane emissions, according to a report by the Environmental Defense Fund. One in 10 Continue Reading
American oil explorers will boost drilling and production later this year as crude prices are set to stay above $50 a barrel, according to a U.S. government report. Supply from new Continue Reading
Norway’s Equinor said on Wednesday it has agreed to sell its assets in the U.S. Bakken oil province after a decade plagued with billions of dollars of losses and criticism Continue Reading
Latin America just seems to be unable to synchronize its long-mooted upswing with global energy trends. Venezuela boasts the largest reserves on earth yet just as it starts to recover Continue Reading
The US oil and gas rig count jumped 14 in the week ending Feb. 3 to 456, rig data provider Enverus said, as oil market fundamentals continued to improve beyond Continue Reading
Rallying oil prices are testing once again the U.S. shale patch’s resolve to spend within their means and prioritize profitability over production growth. U.S oil prices above $55 a barrel Continue Reading
In late 2019, as various candidates jockeyed to win the Democratic nomination for president, Elizabeth Warren made the statement that she would “ban fracking everywhere.” It was just the kind Continue Reading
For years, environmental advocates have argued petroleum producers pay too little for the privilege of drilling on federally controlled lands — under rates originally set in the 1920s. Now President Continue Reading
Smaller, slower and more profitable. These are the watchwords for Chesapeake Energy as it emerges from bankruptcy. Free of the colossal liabilities that sank it as the pandemic slashed global Continue Reading
Gas flaring in the largest U.S. shale plays has been in the spotlight since the shale revolution started. Pressure from society and ESG investors have recently turned up the heat Continue Reading
Texas Governor Greg Abbott announced that he has issued an executive order relating to the protection of Texas’ energy industry from federal overreach. Texas Governor Greg Abbott announced that he Continue Reading
The U.S. oil industry has a message to President Joe Biden’s recent climate executive orders involving the oil and gas sector—restricting America’s oil production would increase its reliance on foreign Continue Reading
U.S. oil prices above $50 a barrel are helping the shale patch to generate more cash flow, especially after the massive capital spending cuts last year. But higher prices are Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 6 to 384. The oil and gas rig count has risen Continue Reading
Lance Wilbanks was looking forward to a rebirth for his trucking company, which saw its business hauling drilling rigs across southeastern New Mexico drop from around two dozen a month Continue Reading
Republican senators from oil-producing states introduced legislation on Thursday that would block the Biden administration’s order pausing new oil and gas leasing on federal lands. The bill, introduced by Senator Continue Reading
President Joe Biden’s new moratorium on oil and gas lease sales will indefinitely postpone all lease sales previously scheduled under the Trump administration for both onshore acreage and for parcels Continue Reading
The oil industry is emerging as a primary target of President Biden’s climate policy, setting the stage for a confrontation that could shape the future of the energy sector. The president is Continue Reading
The combined debt of North American E&P and oilfield service companies that filed for Chapter 11 bankruptcy protection last year jumped to $102 billion, surpassing the $100 billion mark for Continue Reading
As much as 40% of the natural gas that’s expected to be flared in the Permian Basin in 2025 could be avoided at no cost to drillers if regulators abandoned Continue Reading
The moratorium on new oil and gas leases on federal lands and waters that President Biden is expected to announce Jan. 27 would hurt US production and pick winners and Continue Reading
US shale producers, suddenly enjoying a rare period of profitability thanks to rising oil prices, are starting to worry that “bad actors” in the sector will spoil the rally with Continue Reading
President Biden is poised to impose a moratorium on new federal oil and gas leasing Wednesday, according to three individuals briefed on the matter who spoke on the condition of anonymity because the Continue Reading
The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic has already subsided to pre-Covid-19 levels in the US, a Rystad Energy analysis shows. Continue Reading
