Texas Upstream Adds 4,300 Jobs
TXOGA reports the Lone Star State added 4,300 jobs in March. The Texas Oil and Gas Association (TXOGA) reported Tuesday that the state’s upstream sector added 4,300 jobs in March. Continue Reading
TXOGA reports the Lone Star State added 4,300 jobs in March. The Texas Oil and Gas Association (TXOGA) reported Tuesday that the state’s upstream sector added 4,300 jobs in March. Continue Reading
The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015. REUTERS/Richard Carson Top oilfield services firm Schlumberger NV (SLB.N) on Monday named new executives to Continue Reading
A month ago, ConocoPhillips warned it would book a $600-million impairment to its first-quarter profits from its acquisition of Concho Resources and, as Reuters reported at the time, related oil Continue Reading
After the number of drilled but uncompleted wells demonstrated a dramatic drop across multiple US basins in the past year, heightened drilling activity and stable commodity prices are starting to Continue Reading
Normally near the end of the month an update on world oil output is posted here. However this month the EIA’s world oil report will appear too close to the Continue Reading
A New Use for Orphaned Oil and Gas Wells? Petrolern LLC, an Atlanta-based service and technology firm specializing in subsurface engineering and downhole tools, is looking to repurpose some orphaned Continue Reading
Highlights North America sees activity growth going forward International activity likely strengthens in H2 Offshore presents unique opportunities for industry Houston — Drilling, well construction and reservoir activity around the Continue Reading
Gov. Gavin Newsom on Friday said California will stop issuing fracking permits by 2024 and halt all oil drilling by 2045, using his authority to take on the state’s powerful Continue Reading
Higher oil prices and low interest rates have prompted listed independent U.S. oil producers to raise in March the most financing via debt and equity issues since August last year, Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States decreased by 1 this week, bringing the total rig count to 438. In Continue Reading
The US oil and gas rig count took a step back, falling 11 to 530 on the week, rig data provider Enverus said April 22 – the first rig count Continue Reading
Two of the world’s largest oilfield services providers, Baker Hughes and Halliburton, reported on Wednesday profits beating expectations and expressed optimism that oil demand and oil drilling activity will grow Continue Reading
Billionaire Alejandro Bulgheroni’s dream of making fracking more environmentally friendly is running up against the reality of shale-patch economics. The Argentine oil tycoon has pumped about $250 million into developing Continue Reading
Artificial intelligence, the cloud, robots – these are concepts and products we associate with the IT industry. But there is one notoriously traditional, slow to innovate industry that is now Continue Reading
Carter Collum used to spend mornings shoulder to shoulder with competitors in the record rooms of East Texas courthouses, hunting for the owners of underground natural-gas deposits. At night, he Continue Reading
The oil and gas sector is currently enjoying a mini-boom cycle as economies gradually re-open and oil demand begins to return to a semblance of normalcy. The oil markets are Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 7 this week, bringing the total rig count to 439. Last Continue Reading
The number of North American producers that filed for bankruptcy protection in the first quarter of 2021 reached the highest number for a first quarter since 2016, yet the wave Continue Reading
Bakken natural gas production continues to show slight declines, allowing for additional Canadian exports to the US Midwest as Watford City hub prices fall to nearly $2/MMBtu. Receive daily email Continue Reading
An overwhelming amount of attention has been paid to the US tight oil industry’s financial wellbeing following the unprecedented Covid-19-induced downturn of 2020, while the aspect of operational efficiency gains Continue Reading
Just a few short years ago, the United States was producing more shale oil than ever , pumping as much and as quickly as they could to keep up with Continue Reading
A vital source of funding for the US oil sector is drying up as private investors retreat, prompting stricken operators to make “last gasp” efforts to boost production and cash Continue Reading
Highlights Oil drilling accounts for nationwide gain Permian teeter-totters, adding 1 rig for 236 Private E&Ps pick up 7 rigs in week The US oil and gas rig count leaped Continue Reading
U.S. shale producers risk another oil-price war with OPEC and its allies if they resume the breakneck production growth of the last decade, according to Pioneer Natural Resources Co. Shale, Continue Reading
Just three years ago, the Permian shale oil boom was under threat: production was growing fast, but pipeline capacity wasn’t. At one point , over one two-week period, eight of Continue Reading
As the U.S. and global economy recover, production in the Permian Basin is finally returning to pre-pandemic production levels as the American oil industry gets back on track. By May, Continue Reading
It is no secret that the reflation in oil prices, WTI and Brent, above $50.00/bbl in the last six months has been a boon to the companies that service oil Continue Reading
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Nearly half of all oil pipelines from the Permian basin, the biggest U.S. oilfield, are expected to be empty by the end of the year, analysts and executives said. Pipeline Continue Reading
The EIA might be forecasting that the Permian Basin’s oil production will be rebounding soon, but overall, today’s U.S. oil production is still 2 million barrels per day below the Continue Reading
A year after the pandemic and the disagreement within OPEC+ over supply management crushed oil prices, the industry finds itself at an all-too-familiar crossroads: Will OPEC’s bet that U.S. shale’s Continue Reading
Fracking in North America has almost recovered to pre-pandemic levels, with the count of started frac jobs reaching a 12-month high in March 2021, a Rystad Energy report shows. The Continue Reading
The next few years of oil and gas production growth in the U.S. will hinge on this, according to GlobalData. The next few years of oil and gas production growth Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 432. Last Continue Reading
The US oil and natural gas rig count jumped nine to 528 in the week ending April 7, rig data provider Enverus said, as drilling activity pulled back slightly in Continue Reading
Fracking crews are increasing their activity in U.S. shale basins, finishing off a slew of DUC wells, according to the EIA’s latest Monthly Drilling Report. As oil and gas companies Continue Reading
U.S. oil production remains about 2 million bpd lower than its pre-pandemic levels. Still, methane emissions are already back to their levels from before the coronavirus. Worrying as this is Continue Reading
Pioneer Natural Resources, one the biggest independent oil operators in the US, is to buy rival Texan producer DoublePoint Energy in a $6.4bn cash and stock deal, as consolidation in Continue Reading
Pioneer Natural Resources has inked a deal to acquire energy independent DoublePoint Energy for a consideration of $6.4 billion, including the assumption of some $900 million in debt, Pioneer said Continue Reading
Oil drilling expanded in the U.S. at its fastest pace since the start of the pandemic amid rising prices and an increasingly optimistic demand outlook. The total number of rigs searching for Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 13 this week, adding another bearish element to the market after Continue Reading
The deployment used Halliburton’s intelligent fracturing system. Halliburton Co. (NYSE: HAL) reported Tuesday that it has given a major operator real-time automated control of fracture placement while pumping on a Continue Reading
U.S. shale was among the biggest victims of the demand destruction caused by the coronavirus pandemic. But the sector has already proved resilient once, and now this resiliency is coming Continue Reading
Highlights But power demand, prices down on year February storm hit businesses hard New orders, business outlook improving Houston — Texas manufacturing activity in March reached the highest level in Continue Reading
The United States shale industry’s era of “newfound prudence” could be coming to an end. After a devastating 2020 for U.S. oil, the mood in the shale sector has been Continue Reading
Exxon Mobil and Chevron Corp have scaled back activity dramatically in the top U.S. shale oil field, where just a year ago the two companies were dominating in the high-desert Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 6 this week, after an increase of 9 last week. The Continue Reading
Noble Corp.’s acquisition of Pacific Drilling announced this week in a merger of drillers points to the troubled state of the oilfield service sector, even with more activity expected this Continue Reading
U.S. oil drillers are no longer sitting in the trenches, waiting for the pandemic storm to pass. They are once again in growth mode, according to the first-quarter energy survey Continue Reading
A backlog of pre-drilled shale wells is rapidly shrinking as oil prices rise, signaling that producers are ready to put drilling crews back to work as the industry rebounds from Continue Reading