Pioneer Natural Resources Co PXD.N said on Tuesday it would buy smaller rival Parsley Energy Inc PE.N for $7.6 billion, including debt. Parsley, focused on the Permian basin, will receive Continue Reading
ConocoPhillips agreed to buy Concho Resources Inc. for about $9.7 billion in stock, the largest shale industry deal since the collapse in energy demand earlier this year and one that Continue Reading
Halliburton Company ( NYSE: HAL ), the largest fracking services provider in North America, sees activity across the shale patch stabilizing as it reported another net loss this year due Continue Reading
Highlights Completes $1 billion cost-reduction plan Expects US shale sector to ‘slim down’ Committed to oil and gas operations New York — Halliburton is looking to expand its international market Continue Reading
During a town hall meeting Thursday, Democratic presidential nominee Joe Biden again assured shale producers that he wouldn’t ban fracking if elected. Then, in virtually the same breath, he touted Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 12 to 205—a gain that may push prices down further. The total number Continue Reading
Illinois approved this week the plan for the Dakota Access Pipeline to double its capacity from 570,000 bpd to 1.1 million bpd, thus becoming the last state along the pipeline’s Continue Reading
ConocoPhillips is nearing a deal to acquire Concho Resources Inc. , according to people familiar with the matter, in what could be the largest shale industry deal since the collapse Continue Reading
The world’s largest oilfield services provider, Schlumberger ( NYSE: SLB ), reported on Friday its third consecutive quarterly loss this year as exploration and production companies drastically reduced demand for Continue Reading
The US shale sector could be on a path to recovery after a destructive boom-bust period, with plentiful opportunities still available, but a more disciplined approach is needed, executives from Continue Reading
Low oil prices, lower credit availability, and piling debt loads forced a few dozen oil and gas firms in North America to file for bankruptcy protection in the third quarter. Continue Reading
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Chevron CEO Mike Wirth on Oct. 13 defended the company’s commitment to shale and said its upstream portfolio would remain weighted toward tight oil and gas, with fewer large, non-shale Continue Reading
As the oil price dropped through the first and second quarters of this year, oil companies closed in wells and laid off drilling and fracking crews. Activity bottomed in late Continue Reading
Oil production from the seven largest shale formations in the United States is set to decline 121,000 barrels next month, the Energy Information Administration (EIA) said on Tuesday in its Continue Reading
A fracking binge in the American shale industry has permanently damaged the country’s oil and gas reserves, threatening hopes for a production recovery and US energy independence, according to one Continue Reading
The U.S. oil industry faces a bumpy road to recovery from the steepest slump in oil demand in history. Oil demand in the United States and elsewhere is still trailing Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 4 to 193—a gain that may push prices down further. The total number Continue Reading
1. DVN and EOG exposed to federal lands drilling ban – With Joe Biden leading in the polls, the odds of access to federal lands for U.S oil and gas Continue Reading
For years, Mary Drangstveit could feel the shale boom reverberating in her kitchen. This spring, oil prices crashed and the rattling ceased. t brought relief for her and distress for some Continue Reading
Summary of Weekly Petroleum Data for the week ending October 2, 2020 U.S. crude oil refinery inputs averaged 13.9 million barrels per day during the week ending October 2, 2020 Continue Reading
As the presidential election approaches, I am increasingly seeing claims that President Trump put the U.S. back on top as the world’s leading oil producer. So, let’s take a closer Continue Reading
About 80% of US Gulf of Mexico oil production was offline late Oct. 7, with more expected to come down in advance of Hurricane Delta. Receive daily email alerts, subscriber Continue Reading
The oil pipeline will run from Midland to Crane, Texas. Centurion Pipeline L.P. reported Tuesday that its Augustus Pipeline project in the Permian Basin is on schedule and slated to Continue Reading
The world as we know it would not exist without oil. It powers our economy, turbocharged the industrial revolution, and allowed us to travel across the world in a matter Continue Reading
Large pipeline operators in the U.S. shale patch are reducing fees to keep their upstream customers shipping crude from the Texas oilfields to the U.S. Gulf Coast amid a decline Continue Reading
It is the crown jewel of the U.S. shale industry, but it’s in crisis. Thousands of layoffs, numerous bankruptcies, canceled land auctions, plummeting rig counts, and fewer fracking crews have Continue Reading
As much as 70 percent of the more than 100,000 jobs lost in the U.S. oil, gas, and chemicals industries due to the pandemic may not return by the end Continue Reading
Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP. The collapse Continue Reading
It’s been a bad few years for investors in shale companies, but a pretty good few years for shale company CEOs. The leaders of U.S. shale companies received some of Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 189—a gain that may push prices down further. The total number Continue Reading
Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies Continue Reading
Eagle Ford producer Lonestar Resources filed for bankruptcy protection under Chapter 11 this week, becoming the latest casualty in the string of bankruptcies in the U.S. shale patch this year. Continue Reading
The state of Texas and its taxpayers could be on the hook for paying up to US$117 billion for the cleaning-up of abandoned wells as a growing number of U.S. Continue Reading
The US oil and gas rig count jumped 18 to 326 in the week ended Sept. 30, rig data provider Enverus said, marking a second consecutive week of double-digit gains Continue Reading
US taxpayers could be left footing a bill of tens or even hundreds of billions of dollars to clean up oil and gas wells across the country as a growing Continue Reading
For a President Joe Biden, rejoining the Paris Agreement would be almost as simple as signing an autograph. The hard part would be everything else. With global warming already fueling wildfires, Continue Reading
I have always viewed politicians that promise to ban hydraulic fracturing — commonly known as “fracking” — with some level of suspicion. In fact, a year ago as candidates were Continue Reading
Devon Energy Corp. agreed to acquire WPX Energy Inc. in a $2.56 billion all-stock deal, creating one of the largest independent U.S. shale producers and answering investor calls for consolidation Continue Reading
U.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a company worth around $6 billion, people familiar Continue Reading
With the U.S. oil industry reeling from the collapse in demand this year, the New Mexico shale patch has emerged as the go-to spot for drillers desperate to squeeze as Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 4 to 183. The total number of active oil and gas rigs increased Continue Reading
Oil workers in New Mexico fear they will lose their jobs and oil companies are rushing to secure drilling permits on federal lands ahead of the presidential election, which could Continue Reading
Maintaining oil production will be the top priority for U.S. oil drillers for the next six months, according to the latest installment of the Dallas Fed quarterly energy survey . Continue Reading
The US oil and gas rig count rose by 15 to 308 in the week ending Sept. 23, rig data provider Enverus said, marking the largest weekly gain in more Continue Reading
While Permian oil and gas production was soaring in 2018, U.S. midstream operators were planning and building pipeline takeaway capacity, expecting that the largest U.S. shale play would increase output Continue Reading
US shale oil production can reach new highs beyond the 13 million b/d mark achieved in late 2019, although it will take oil prices of around $60/b for that to Continue Reading
Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, Continue Reading
It is less than two months since Donald Trump travelled to Texas to declare that the US energy industry, laid low by this year’s oil price crash, was back on Continue Reading
Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 1 to 179. The total number of active oil and gas rigs increased Continue Reading
