US Shale Companies are Burning through Cash
About nine in 10 U.S. shale companies are tremendously overspending, according to new analysis by Rystad Energy. Just about 10 percent of U.S. shale companies had a positive cash flow Continue Reading
Shale Drillers Keep On Falling Into The Same Trap
Despite the hype of lower breakeven prices , and despite the hype around longer laterals, energy digitalization, and other technological breakthroughs, most shale companies are still not profitable. In fact, Continue Reading
Occidental to sell parts of Anadarko after debt-fueled acquisition
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. It also quadrupled Continue Reading
As North Dakota oil soars, so does waste of natural gas
North Dakota oil drillers are falling far short of the state’s goals to limit the burning of excess natural gas at wellheads, five years after the state adopted the rules Continue Reading
Texas Oil, Gas in Expansion Mode Despite Flat Activity
Texas oil and gas operators are proving they can produce more crude with fewer resources, according to the Texas Petro Index. Texas crude oil production continues to break records in Continue Reading
Schlumberger Suffers Credit Hit
Schlumberger had its debt rating lowered by S&P Global Inc. (Bloomberg) — Schlumberger Ltd. had its debt rating lowered by S&P Global Inc. as belt-tightening in the U.S. shale patch Continue Reading
Small shale companies under pressure, says Fed official
Independent shale drillers in the US are facing pressure to either expand or be acquired, Robert Kaplan, president of the Federal Reserve Bank of Dallas, has said. Despite the classic “wildcatting” Continue Reading
The Biggest Losers In The Shale Slowdown
Schlumberger saw its debt rating downgraded by S&P due to the unfolding slowdown in drilling by U.S. shale companies. The largest oilfield service company in the world has seen its Continue Reading
This Oilfield Service Player Is Looking To Make A Comeback
Introduction The collapse of deepwater drilling in the Gulf of Mexico, (GoM) beginning in 2014, with no real recovery yet in sight, has spread a lot of misery around the Continue Reading
U.S. oil drillers cut rigs for third week in a row: Baker Hughes
(Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as weaker oil prices encourage drillers to follow through Continue Reading