Rigs fall 60% year over year. Production inches up 7% Continued production in Oklahoma’s SCOOP-STACK demonstrates how tracking rig count to determine production swings has become an antiquated practice in Continue Reading
If current crude flow data forms the basis of industry opinion, US shale oil production has shifted the tectonic plates of the market. Thanks largely to a massive output uptick Continue Reading
America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns. Natural gas has long been a Continue Reading
Banks are cutting their lending to struggling U.S. shale drillers, another blow to an industry that has long been dealing with a questionable business model. Banks are restricting lending and Continue Reading
The slowdown in Permian Basin oil drilling and fracking is spreading to the lenders as austerity takes hold. The 63 banks and savings associations in the world’s biggest shale field Continue Reading
Banks have begun to tighten requirements on revolving lines of credit, an essential lifeline for smaller companies, as these institutions revise estimates on the value of some shale reserves held Continue Reading
The US oil and gas rig count increased by double digits this week, according to Baker Hughes, reaching 813 rigs after increasing by 14 for the week, according to Baker Continue Reading
The U.S. has reversed the trend of rig loss to add a net total of 14 rigs this week. Just ahead of the Christmas holiday, the U.S. tacks on 18 Continue Reading
Devon Energy Corp. has agreed to sell its Barnett Shale assets to Banpu Kalnin Ventures for $770 million. U.S. independent Devon Energy Corp. has agreed to sell its Barnett Shale Continue Reading
Argentina’s President Alberto Fernandez takes office in the midst of an economic crisis. Like his predecessor, he has made fracking a centerpiece of the country’s economic revival. Argentina has some Continue Reading
