US Rig Count Plummets by 21
The Permian now accounts for more than half of the nation’s total number of active rigs. The U.S. has seen its rig count decline for the second week consecutive week, Continue Reading
Will the Public End up Paying to Clean up the Fracking Boom?
Increasingly, U.S. shale firms appear unable to pay back investors for the money borrowed to fuel the last decade of the fracking boom. In a similar vein, those companies also Continue Reading
US Shale Operators Can Save $24B Through Well Optimization
Through its analysis of more than 80,000 wells drilled in the Permian and Eagle Ford over the last decade, Deloitte determined the shale industry can save billions of dollars. Well Continue Reading
Investors starve US shale drillers of capital
The money pipeline is running dry for large portions of the US shale oil sector, tipping drillers into bankruptcy and threatening the industry’s breathtaking growth in oil production. Spooked by Continue Reading
Peak Shale: How US oil output went from explosive to sluggish
America’s shale boom got the world accustomed to soaring production. Now growth has slowed, and a cloud has formed over the industry. Hydraulic fracturing pushed the U.S. closer to its Continue Reading
Russia Predicts The Death Of U.S. Shale
U.S. shale production growth is slowing down, and America’s shale output will likely peak in the next few years, Russia’s Energy Minister Alexander Novak said on Tuesday. We see that Continue Reading
Halliburton Plans Cost Cuts as 3Q Revenue Dips
The oilfield services company vows to “streamline operations” in the fourth quarter to generate $300 million in cost savings. Halliburton Company intends to cut costs to the tune of $300 Continue Reading
Goldman Sachs lowers forecast 2020 U.S. shale oil output growth
Goldman Sachs wound back its forecast for growth in U.S. shale output in 2020, and slightly reduced its outlook for 2020 global oil demand growth. The brokerage said it expects Continue Reading
Oilfield Services Face Crisis As Shale Slowdown Worsens
The first and third-largest oilfield service companies in the world saw their earnings hit in the third quarter due to the slowdown in U.S. shale drilling. Schlumberger took a $12.7 Continue Reading
Halliburton Posts Weaker Earnings as North America Business Slumps
Oil-field services company Halliburton Co. posted weaker quarterly earnings Monday as revenue in the company’s North America business slumped, but cost cuts and a better-than-expected outlook pushed shares higher. Companies Continue Reading