The United States shale revolution is over. Production in the Permian Basin, which spreads across West Texas and Southeast New Mexico, has been slowing for months, but the novel coronavirus Continue Reading
After Continental Resources suspended drilling in North Dakota and started shutting in operating wells, now another company has followed: Oasis Petroleum. Reuters quotes unnamed sources that said the company has Continue Reading
North Dakota regulators will hear testimony May 20 on whether oil production at current low prices amounts to wasting natural resources, potentially setting the stage for output restrictions, like those Continue Reading
It’s the latest example of an oil and gas deal running into snags amid the unprecedented plunge in crude prices. (Bloomberg) — Continental Resources Inc. is being sued by a Continue Reading
Whiting Petroleum, a major oil and gas producer in the Bakken Shale and Denver-Julesburg Basin, announced Monday it had filed a Chapter 11 plan, as the decimated global demand for Continue Reading
Oklahoma’s governor has called on U.S. President Donald Trump to declare the coronavirus pandemic an “act of God,” a step to help oil-producing states contend with a crude glut that Continue Reading
A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading Continue Reading
In a stunning news release, Continental Resources, the largest shale producer in the Bakken, is shutting in most of its production in the region. That is one hell of a Continue Reading
The fallout from sub-zero oil prices is accelerating the slump in U.S. crude exploration to a pace never seen before. Drilling in onshore American fields fell the most in 14 years this Continue Reading
Asking Opec to help save the US oil sector was not part of Donald Trump’s vision of “American energy dominance”. The US president’s role in brokering a deal between Saudi Continue Reading
