New Mexico was, until recently, a lucky state. Despite being one of the states with the weakest economies—and high unemployment—New Mexico had the Permian, and oil revenues from drillers there Continue Reading
Colorado producers on Jan. 15 will face the most-stringent drilling setback rules in the US, when buffers quadruple to 2,000 feet as a backlog of 6,000 pending permits have built Continue Reading
US crude oil inventories likely declined in the week ended Nov. 27 amid an expected uptick in refinery demand and steady exports, an S&P Global Platts analysis showed Nov. 30. Continue Reading
Oil stockpiles at America’s largest storage hub are set to unwind with the market showing real signs of strength for the first time since the pandemic crushed global demand. (Bloomberg) Continue Reading
The number of rotary drilling rigs operating in the United States rebounded this past week, according to Baker Hughes. The total number of rotary drilling rigs operating in the United Continue Reading
The U.S. oil industry is trying to recover from the worst demand shock in the history of oil markets. Some companies launched the long-awaited consolidation in the sector, while many Continue Reading
The Colorado Oil and Gas Conservation Commission (COGCC) approved this week stricter rules for oil and gas drilling, extending the setbacks for oil wells from homes and schools to 2,000 Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 5 to 231, ending eight weeks of increases to oil rigs in the Continue Reading
The overall US rotary rig count fell slightly this week. The overall U.S. rotary rig count dipped by two over the past week, falling to 310 units, Baker Hughes Co. Continue Reading
It’s one of Joe Biden’s boldest campaign pledges for tackling climate change. But it’s one that would have a big impact on a Democratic stronghold. New Mexico is waiting to Continue Reading
The US oil and natural gas rig count rose by three to 382, Enverus said Nov. 19, ahead of the Thanksgiving holiday week when drilling typically slows as upstream budgets Continue Reading
After a wave of bankruptcies in the third quarter, oil producers and oilfield services companies in the U.S. shale patch continued to file for protection from creditors at the start Continue Reading
NOTE: The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs and well completions. Continue Reading
The great outdoors and the super tax-friendly policies in Wyoming are attracting a growing number of the ultra-wealthy to the Cowboy State in search of quiet scenic retreats from the Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 10 to 236—the eighth week of oil rig additions. The total number of Continue Reading
The U.S. oilfield services sector added more than 6,400 new jobs last month. in the latest sign that things are beginning to look up for the embattled industry. There has Continue Reading
The rotary rig counts for the US and Canada rose this past week. The rotary rig counts for the United States and Canada increased by a total of 15 this Continue Reading
The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions. Drilling rights Continue Reading
The world’s largest independent oil trader, Vitol Group, is considering potential acquisitions in the U.S. shale patch, chief executive Russell Hardy said on the Reuters Commodity Trading Summit on Tuesday. Continue Reading
“This has probably been the most challenging quarter in past decades,” Schlumberger’s chief executive Olivier Le Peuch said in the second-quarter results release of the world’s largest oilfield services provider. Continue Reading
Texas’s oil regulator took action to reduce routine natural gas flaring but its efforts fall short of more aggressive measures requested by some investors and major producers. (Bloomberg) — Texas’s Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 5 to 226. The total number of active oil and gas rigs increased Continue Reading
The long-awaited consolidation in the U.S. shale patch is well underway, with several high-profile multi-billion-dollar deals announced in the span of just a few weeks. Analysts say that the mergers Continue Reading
Apache intends to step up its exploration and development plans off the coast of Suriname, as its operations and activity in the US Permian Basin remain scaled back through the Continue Reading
Although the Texas upstream oil and gas industry remained in contraction in the third quarter, signs have emerged in employment and rig counts that the sector may have already seen Continue Reading
The TPI tracks metrics such as price, rig count, drilling permits, well completions and employment. The Texas Alliance of Energy Producers revealed this week that its Texas Petro Index (TPI) Continue Reading
Ahead of what could be an industry-changing presidential election in the US, a Rystad Energy analysis reveals that drilling and fracking activity has accelerated. North American fracking likely peaked in Continue Reading
President Donald Trump has signed an order aimed at protecting the shale oil and gas industry, he said in a tweet. “Just signed an order to protect fracking and the Continue Reading
Jim Wright, a Republican seeking a seat on a board that regulates the Texas energy industry, knows the agency intimately. He ought to. He’s paid it $181,000 in fines. If Wright Continue Reading
Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 10 to 221. The total number of active oil and gas rigs increased Continue Reading
Devon Energy will soon have enough permits for shale drilling on federal lands to cover its oil and gas production plans in the Permian’s Delaware Basin through 2024, CEO David Continue Reading
ExxonMobil has returned all but 140,000 b/d of oil production curtailed during the spring’s oil price crash, and the producer aims to increase output from the Permian Basin next year Continue Reading
New York — The US oil and gas rig count climbed one to 348 in the week ended Oct. 28, rig data provider Enverus said, as gas drilling activity hit Continue Reading
Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the coronavirus pandemic Continue Reading
Behind a low-slung building in Zelienople, Pa., stands a towering mechanical structure where Deep Well Services trains employees in the highly specialized work of completing fracking wells for natural gas. Continue Reading
Chris Wright stands out as an oilman who might be more at home in Silicon Valley than the shale fields of North Dakota. A mountain climber and Massachusetts Institute of Continue Reading
These people said details of the order were still under discussion, and a final decision on whether to even issue it hasn’t been made. White House spokesman Judd Deere declined Continue Reading
The once mighty oil and gas industry is flailing, desperately trying to survive a pandemic that has sharply reduced demand for its products. Most companies have cut back drilling, laid Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 211. The total number of active oil and gas rigs increased Continue Reading
The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high, according to Rystad Energy. The associated debt from North American oil and Continue Reading
Fracking has emerged as a hot button issue of the 2020 election, with President Donald Trump claiming his political rival will cripple the economy in politically important states such as Continue Reading
The US oil and gas rig count rose by 11 to 347 in the week ended Oct. 21, rig data provider Enverus said, marking a second straight week of double-digit Continue Reading
One by one they are starting to fall. The long predicted consolidation wave in U.S. shale players, particularly those with assets in the Permian stacked play, is in high gear. Continue Reading
Oilfield services provider Baker Hughes ( NYSE: BKR ) reported a loss for the third quarter, like its competitors Schlumberger and Halliburton, amid lower demand for drilling services and equipment Continue Reading
President Donald Trump told supporters at a rally that Democratic candidate Joe Biden planned to ban all fracking, taking aim at his opponent’s energy plans that would affect one of Continue Reading
More than $14 billion in big Permian deals this week Concho and Parsley were worth 75% more at beginning of 2020 More than 40 US E&P bankruptcies this year A Continue Reading
Baker Hughes remains committed to the oil and gas industry despite its ongoing challenges, but is also looking to grow its business portfolio to support energy transition, the company said Continue Reading
A new study finds ongoing operations and construction in Texas’ pipeline industry provided nearly $49 billion in economic impact last year. Ongoing operations and construction in Texas’ oil and gas Continue Reading
Consolidation in the U.S. shale industry is accelerating, ratcheting up pressure on oil and gas producers to gobble up smaller rivals, analysts and executives said. Pioneer Natural Resources Co, one Continue Reading
