Rig Count Collapse Continues Despite Jump In Oil Prices
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 64, falling to 465, with the total oil and Continue Reading
Oil Giant Shutters North Dakota Crude Production
Continental Resources has stopped drilling operations and shut in most of its wells in North Dakota, Reuters reports , citing sources familiar with the situation, who also added that the Continue Reading
The Oil & Gas Consequences Of COVID-19
Continental Resources – the largest producer in the Bakken – has shut in production, sounding alarms across the entire U.S. shale patch. It has also notified several of its clients Continue Reading
Lower Rockies production, maintenance issues could boost Opal prices
Contentious regulatory issues in Colorado have taken a back seat in the Denver-Julesburg Basin as companies slash activity under the weight of weak oil prices, which could provide a boost Continue Reading
Whiting’s Bankruptcy Cuts $2.3B of Debt
Whiting Petroleum Corp., the shale driller that went bankrupt at the start of this month, formalized a restructuring deal that would cut more than $2.3 billion of debt and hand Continue Reading
Super-Polluting Methane Emissions Twice Federal Estimates in Permian Basin, Study Finds
Methane emissions from the Permian basin of West Texas and southeastern New Mexico, one of the largest oil-producing regions in the world, are more than two times higher than federal Continue Reading
What Happens If Oil Storage Runs Out In The Permian?
Fears of running out of storage capacity drove oil prices down over $40 in single day, forcing sellers to pay their buyers to take the product, and these fears were Continue Reading
US oil, gas rig count falls 76 on week to 491 after record-low crude price
The US oil and gas rig count fell 76 week on week to 491, rig data provider Enverus said Thursday, a few days after oil prices plunged below zero and Continue Reading
Oil world zeroes in on Cushing, Oklahoma
Cushing, Oklahoma, population 7,800, has a steakhouse, a burrito restaurant and a KFC. It also has America’s most important complex of oil storage tanks. The prospect that those monumental tanks Continue Reading
Shale’s Decline Will Make Way For The Next Big Thing in Oil
This week the near term price for crude oil fell to -$37.68 per barrel. This was driven by the expiration of the May futures contract on the 21st of April Continue Reading