An historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% Continue Reading
The Covid-19 crisis combined with the oil price war is about to trigger the largest ever monthly drop in U.S. fracking activity The Covid-19 pandemic has ravaged global oil demand Continue Reading
Free oil won’t last. But it may linger long enough to persuade some creditors of bankrupt energy drillers to freeze their court fights awhile so they don’t wind up running Continue Reading
A historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% Continue Reading
U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst Continue Reading
The Texas Railroad Commission adjourned a webcast public meeting Tuesday without voting on whether to implement prorationing the state’s production, instead deferring a decision until next month. Receive daily email Continue Reading
Halliburton Co. is cutting spending, salaries and jobs as the fracking behemoth navigates what is shaping up to be the worst-ever oil bust. The company set full-year 2020 capital outlays at Continue Reading
U.S. oilfield services giant Halliburton ( HAL.N ) on Monday reported a $1 billion first-quarter loss on charges and outlined the largest budget cut yet among top energy companies as Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 73, falling to 529, with the total oil and Continue Reading
Industry leading oilfield service firm Schlumberger sees North American producers cutting their capital spending by 40% in 2020 compared to roughly 15% cutbacks internationally as independent shale firms move more Continue Reading
