The combination of the oil price collapse and the coronavirus pandemic has decimated the industry in the first half of 2020 to a level where Exploration & Production (E&P) and Continue Reading
Some current and former employees of a company developing an oil refinery near Theodore Roosevelt National Park in North Dakota filed a lawsuit claiming they are owed wages and bonuses. Continue Reading
The high-profile case of the Dakota Access oil pipeline ordered shut earlier this month has overshadowed another legal dispute over a smaller pipeline carrying crude out of the Bakken shale Continue Reading
Orphaned and abandoned wells are those whose owners are unknown or insolvent. A federal program to plug nearly half a million orphaned and abandoned oil and gas wells could create Continue Reading
The usual post-merger giddiness that abounds after a multibillion-dollar oil deal is noticeably absent in the wake of Chevron Corp.’s $5 billion takeover bid for Noble Energy Inc. With Chevron agreeing Continue Reading
Chevron will take over Noble Energy for $5 billion in the first big deal announced since the coronavirus pandemic shook the energy sector. Chevron has been shopping for assets since Continue Reading
Chevron has decided to acquire Noble Energy in a $5 billion deal , expanding its footprint in U.S. shale and in the Eastern Mediterranean. The acquisition is the first major Continue Reading
The low oil prices and drastically reduced fracking activity in North America claimed another victim as oilfield services provider BJ Services filed on Monday for Chapter 11 bankruptcy protection. Texas-based Continue Reading
Earlier this month, a federal judge stunned the U.S. energy sector with an order to shut down the Dakota Access pipeline. Environmentalists hailed it as the first time a fully Continue Reading
The Dakota Access Pipeline is currently mired in a legal battle that has no definitive end in sight. Earlier this month, the extremely divisive pipeline that has been the subject Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 253, marking the nineteenth straight loss in Continue Reading
North Dakota oil and natural gas production saw its sharpest monthly drop on record in May, as low prices and weak demand continued to curb drilling activity while the looming Continue Reading
The U.S. rotary rig count fell by five over the past week. The U.S. rotary rig count fell by five over the past week to hit the 253-unit mark, Baker Continue Reading
Buckeye Partners, L.P.operations have begun at South Texas Gateway (STG), a new terminal in the Port of Corpus Christi that it owns with Phillips 66 Partners LP and Marathon Petroleum Continue Reading
Since 2017, Bakken has surprised to the upside. But with DAPL stuck in legal court battles and uncertainty around takeaway capacity continuing, Bakken’s production base will fall. Lower completion activity Continue Reading
Highlights Oil rigs up by 10 to 202, gas rigs fall 1 to 86 Most large basins tick up one or two rigs But lower activity continues in the Permian Continue Reading
The midstream oil sector enters the earnings season for one of the toughest quarters in the industry’s history as its struggles to manage lower crude volumes, project delays, and wary Continue Reading
The top U.S. shale gas producers have seen their stock prices decimated from their highs reached in 2014. What’s even worse is that the horrible stock performance occurs even with Continue Reading
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 Continue Reading
The Dakota Access Pipeline, (DAPL) was built to transport Bakken crude oil from its point of origin in far North Dakota to a terminus in Patoka, Illinois. Patoka is the Continue Reading
US shale oil production will fall to 7.49 million b/d in August, down 56,000 b/d from July and the lowest in two years, the US Energy Information Administration said July Continue Reading
When an oil bust takes hold in West Texas, no one is spared: Drilling rigs collect dust, barber chairs sit empty, students drop out of school and lines swell at Continue Reading
The day the debt-ridden Texas oil producer MDC Energy filed for bankruptcy eight months ago, a tank at one of its wells was furiously leaking methane, a potent greenhouse gas, Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 258, marking the eighteenth loss in the Continue Reading
This week was an ugly one for American shale: Several pipeline projects–both those existing and in the works–took severe hits that will have a profound effect on the shale industry Continue Reading
The number of rotary rigs operating in the U.S. decreased over the past week but increased in Canada, Baker Hughes Co. reported Friday. The number of rotary rigs operating in Continue Reading
When an oil bust takes hold in West Texas, no one is spared: Drilling rigs collect dust, barber chairs sit empty, students drop out of school and lines swell at Continue Reading
Houston-based Noble Energy plans to bring back by the end of July most of the oil production it had curtailed in the second quarter in response to the plunge in Continue Reading
The rash of oil and gas bankruptcies in North America is set to continue for the remainder of 2020, a report by Haynes and Boone cited by Reuters shows. After Continue Reading
The US oil and natural gas rig count dropped by six rigs on the week to 279, rig data provider Enverus said, as domestic plays continued largely stabilizing without yet Continue Reading
The number of oil and gas drilling permits in Texas fell by a third in June from a year earlier, the state’s oil and gas regulator body said on Tuesday. Continue Reading
The U.S. OFS job count fell 12.3 percent from February to June of this year, based on BLS data. The tally of oilfield services and equipment (OFS) sector job losses Continue Reading
A recent US appeals court judge’s order to shut the 570,000 b/d Dakota Access oil pipeline for a year starting next month could result in extended curtailments of shut-in wells Continue Reading
The Bakken shale is already declining because of financial struggles and the oil market downturn, but the potential shuttering of the Dakota Access pipeline could close off the possibility of Continue Reading
A recent US appeals court judge’s order to shut the 570,000 b/d Dakota Access oil pipeline for a year starting next month could result in extended curtailments of shut-in wells Continue Reading
Energy Transfer is confident that once the law and full record are fully considered the Dakota Access Pipeline will not be shut down. Energy Transfer has stated that it is Continue Reading
Here is a preview of issues to watch this week in the oil and gas markets. The $40 per barrel level for West Texas Intermediate crude oil could trigger an Continue Reading
The coronavirus pandemic has stalled factories and shut down business around the world, causing a historic drop in oil demand just as production was reaching new highs. WSJ explains the Continue Reading
The oil price collapse has taken its toll on mergers and acquisitions (M&A) across the U.S. oil and gas industry as companies preserve cash in these highly uncertain times. The Continue Reading
Baker Hughes Co. reported Thursday that the U.S. rotary rig count decreased by two drilling units this week. Baker Hughes Co. reported Thursday that the U.S. rotary rig count decreased Continue Reading
U.S. shale is hurting. While the entire global energy industry has been hit hard by the novel coronavirus pandemic and its disastrous effect on oil prices and oil demand, West Continue Reading
Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week, by 2, to 263, showing the second small loss in Continue Reading
U.S. oil and gas companies are scrambling for credit, with lenders tightening their purse strings as oil prices continue to sit below $40 per barrel. Oil and gas lenders have Continue Reading
After consecutive weeks of single-digit declines, the US oil and gas rig count may have essentially reached its long-awaited bottom. The US oil and gas rig count fell by six Continue Reading
The coronavirus pandemic and the oil price collapse are accelerating the pace of bankruptcy filings in the U.S. shale patch this year. The number of filings had already started to Continue Reading
Crude-by-rail shipments from the US Midwest to the West Coast fell 28% month on month to 157,000 b/d in April amid lower refining runs and plunging North Dakota oil production, Continue Reading
The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest Continue Reading
The Trump administration has taken dozens of actions during the Covid-19 pandemic to benefit the oil and gas industry, such as opening new lands for leasing, watering down environmental protections, Continue Reading
U.S. shale was one of the big losers of the Saudi-Russian price war that many saw as a war on U.S. shale. Producers scrambled to stay afloat as prices sank Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 1. Canada’s overall rig count fell this week by Continue Reading
