US shale oil production can reach new highs beyond the 13 million b/d mark achieved in late 2019, although it will take oil prices of around $60/b for that to Continue Reading
Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, Continue Reading
It is less than two months since Donald Trump travelled to Texas to declare that the US energy industry, laid low by this year’s oil price crash, was back on Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 1 to 179. The total number of active oil and gas rigs increased Continue Reading
Just two years ago, U.S. pipeline operators were rushing to build pipelines in Texas to move surging Permian oil and gas production to the refining and export centers on the Continue Reading
The US oil and gas rig count climbed six in the week ended Sept. 16 to an eight-week high 293, rig data provider Enverus said Sept. 17, but drilling activity Continue Reading
North American shale producers far outspent their revenue in the second quarter despite making deep spending cuts to survive the worst oil price crash in decades. Operators idled rigs, sacked workers Continue Reading
Crude oil production in the U.S. shale patch is set to decline by 68,000 bpd next month, with every play registering declines in output except the Permian, the Energy Information Continue Reading
The recent combination of Schlumberger’s, (NYSE:SLB) OneStim business with Liberty Oilfield Service, (NYSE:LBRT) created a colossus in North American fracking . One estimate suggested the combination of these two would 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 and well completions. The Continue Reading
Colombia’s state-held oil firm Ecopetrol, which has a strategic alliance with Occidental Petroleum to develop acreage in the Permian, plans to have drilled as many as 100 wells in the Continue Reading
Trafigura, one of the largest exporters of US crude oil and refined products, does not expect to see any growth in US shale production until the end of 2021, as Continue Reading
The cancellation of Enterprise Products Partners’ Echo 4 oil pipeline from the Permian to Houston is further evidence of the latest glut in pipeline capacity out of the West Texas Continue Reading
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BP and Shell have urged Texas energy regulators to put a stop to routine gas flaring across the state’s oil fields, Bloomberg reported , citing a joint letter by the Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 1 to 180. The total number of active oil and gas rigs decreased Continue Reading
Shale firms are pumping an average of roughly 2.9 million pounds a day of frac sand this quarter, according to Coras Research LLC. (Bloomberg) — Frackers are blasting less sand Continue Reading
A recent surge in coronavirus cases is rekindling economic anxieties in North Dakota, where wildly fluctuating oil prices and recent drops in production threaten to leave the state’s finances in fresh Continue Reading
Magellan Midstream Partners said Sept. 10 it will start accepting crude from certain third-party Permian Basin pipelines at its Magellan East Houston terminal that also serves as a US Gulf Continue Reading
An expanded Dakota Access pipeline could go into operation by the third quarter of next year, Energy Transfer said in an investor presentation. The embattled project, which aims to transport Continue Reading
Highlights EPD cancels M2E4 pipeline, shifts volumes to other pipes Permian pipeline projects could further be trimmed back New York — Enterprise Products Partners on Sept. 9 said it would Continue Reading
Oil producers in the top U.S. shale fields are stockpiling drilling permits on federal land ahead of the November U.S. presidential election, concerned that a win by Democratic candidate Joe Continue Reading
Talk of a talent shortage when the oil industry is laying off workers en masse may sound counterintuitive. However, a few years from now, the industry will recover, if its Continue Reading
The recovery of fracking operations in the US is happening largely thanks to an unusually high inventory of drilled but uncompleted wells (DUCs), which is strong enough to sustain the Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 1 to 181. The total number of active oil and gas rigs increased Continue Reading
Investors managing more than $2 trillion are calling on Texas regulators to ban the routine burning of natural gas from shale fields, arguing that the energy industry hasn’t moved quickly Continue Reading
The US oil and natural gas rig count rose by three on the week to 285, rig data provider Enverus said Sept. 3, as the final trimester of the year Continue Reading
Since the start of the year, 57 oil production and oilfield services companies have filed for Chapter 11 bankruptcy protection. Many more bankruptcies are on the way, all in the Continue Reading
An early-summer rebound in Permian Basin gas production has definitively stalled out in recent weeks as drilling, well completions and rig counts across West Texas hit multiyear lows. Receive daily Continue Reading
Schlumberger has become the biggest oil-service industry player yet to abandon frack work in North America, a sign that activity in the U.S. shale patch may never revisit previous highs. The provider Continue Reading
Democratic presidential candidate Joe Biden said on Monday that he would not ban hydraulic fracturing, a controversial method of drilling for crude oil and natural gas, if elected and called Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 3 to 180, after rising last week for the first time since January. Continue Reading
Baker Hughes reported the total number of rotary drilling rigs operating in the US held flat at 254 this week Baker Hughes Co. on Friday reported the total number of Continue Reading
Norway’s Equinor will not drill any more wells in the U.S. shale patch this year as it adjusts to a lower-for-longer oil price environment, a spokesperson for the company said Continue Reading
The US oil and gas rig count dropped by seven on the week to 282 with small plays along the Texas Gulf Coast and Kansas accounting for most of the Continue Reading
Despite the wave of U.S. oil and gas industry bankruptcies and layoffs as a result of the pandemic, the United States government has decided to resume its oil and gas Continue Reading
Two shale producers have plans to start cutting jobs, sources in the know who wished to remain unnamed have told Reuters. Parsley Energy plans to cut 10 percent of all Continue Reading
During the first night of the GOP convention, Republicans asserted that Democrats will ban hydraulic fracking, thereby decimating US oil and gas jobs, in spite of leading Democrats’ pullback from Continue Reading
Resurging production in North Dakota’s Bakken Shale following a wave of spring shut-ins has pushed Canadian exports to the US Midwest on Northern Border Pipeline down to its lowest flow Continue Reading
The Covid-19 pandemic has added severe financial strain on a North American upstream industry that was already reeling under billions of dollars of debt. With WTI climbing past $40 a Continue Reading
Explorers in the world’s biggest shale patch are roaring back, putting an additional 10 rigs to work this week for the biggest jump in activity since a price crash triggered Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose for the first time since January by 11, to 183—the first double-digit increase since Continue Reading
Malaysia’s Petronas, the national state oil and gas company, is in talks to take over Permian driller DoublePoint Energy, Bloomberg reported, citing sources in the know who declined to be Continue Reading
Cimarex Energy is making contingency plans for permitting on federal lands in case there is a change in presidential administration, its top executive said Aug. 19. Receive daily email alerts, 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
Every crisis has its consolidation. At least, that used to be the case before the 2020 oil industry crisis. When earlier this summer Chevron said it would acquire Noble Energy, Continue Reading
It’s been a long dry spell in the Permian. Shale drilling and completions activity has collapsed to levels not seen since before 2000 (as far back as records are kept). Continue Reading
Oklahoma shale driller Chaparral Energy Inc filed for Chapter 11 bankruptcy protection on Sunday, the latest U.S. energy sector casualty in recent months as COVID-19 crushes oil demand. The company’s Continue Reading
Shale explorers parked more drilling rigs in the U.S. this week as stagnant oil prices push the industry to extend a historic retrenchment. The number of active oil rigs in U.S. Continue Reading
Less than two hours after Kamala Harris was named Joe Biden’s running mate, President Donald Trump had cast the California Democrat as an oil industry and fracking foe. “She is against Continue Reading
