New Regulations In Permian Could Deter Drilling
The EPA is considering a new label for parts of the Permian Basin that could deter or slow oil and gas drilling in certain parts of the prolific Permian Basin. Continue Reading
U.S. Drillers Add 10 Oil Rigs As Permian Takes The Lead
The number of total active drilling rigs in the United States rose by 13 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Dallas Fed: Surging Costs Hamper U.S. Shale Growth
The business activity index in the energy firms operating in Texas, northern Louisiana, and southern New Mexico jumped in the second quarter to the highest level in six years, but Continue Reading
U.S. drillers add oil and gas rigs for second week in a row, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude production returned to pre-pandemic levelsand President Joe Biden slammed oil Continue Reading
U.S. Drillers Add 7 Rigs Amid Oil Price Slide
The number of total active drilling rigs in the United States rose by 7 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Permian oil output forecast to hit record high in June -EIA
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 84,000 barrels per day (bpd) to a record 5.316 million Continue Reading
American Shale Drillers Set To Boost Production In July
U.S. Shale production in the seven most prolific shale basins is set to increase 143,000 bpd in July to 8.91 million bpd, according to the Energy Information Administration’s latest Drilling Continue Reading
U.S. Oil Rig Count Jumps As Crude Holds At $120
The number of total active drilling rigs in the United States rose by 6 this week, after drilling increases stalled out in the week prior, according to new data from Continue Reading
US oil, gas rig count adds three on week for 821 as totals approach pre-pandemic levels: Enverus
No large rig adds; Marcellus loses 2, leaving 41 Rig count additions to appear to be slowing Despite high oil prices, the discipline still strong The US oil and gas Continue Reading
Permian Leaves Rivals Behind As Production Continues To Grow
All U.S. shale basins are expected to see growth this year. Permian is on track to account for about half of all U.S. output in 2023. The Permian has produced Continue Reading
Why U.S. Shale Firms Aren’t Likely To Change Their Growth Plans
Sky-high oil prices haven’t been able to bolster shale spending. Shale firms are sticking to their guns, prioritizing shareholder returns over everything. “Whether it’s $150 oil, $200 oil, or $100 Continue Reading
U.S. oil & gas rig count falls for first time in 31 weeks -Baker Hughes
U.S. energy firms cut oil and natural gas rigs this week for the first time in 31 weeks, but the rig count rose for a record 22nd month in a Continue Reading
Rystad: Oil And Gas Investment To Rise 20% In 2022
Rystad: Global oil and gas investment is set to rise by 20% this year. In the United States, investment in shale is set to increase by 35%. Oil frontiers like Continue Reading
Permian Frackers Blame Supply Chain Bottlenecks For Stymied Growth
The Permian is expected to be the main driver of U.S. production growth in 2022. Supply chain snarls are starting to weigh on Permian production growth. Oilfield service companies are Continue Reading
ExxonMobil Selling Shale Assets for $750MM
The transaction is expected to close in the second quarter of this year. ExxonMobil has announced that it has signed an agreement with subsidiaries of BKV Corporation for the sale Continue Reading
U.S. Shale Drillers Cautious Despite Record Earnings
Only few shale executives have committed to significant increases in capex. 2022 total cash flow for shale drillers may top all they’ve earned over the past 20 years. Inflationary pressure Continue Reading
USA Oil and Gas Employment Set to Rebound
The total number of jobs in 2027 is expected to hit 1.09 million. Employment in the U.S. oil and gas industry is set to rebound in the coming years and Continue Reading
Permian growth outlook brightens as brownfield gas pipeline expansions advance
Highlights Open season or FID declared for 1.7 Bcf/d capacity Projects delays gas pipeline constraints to late 2025 Crude constraints unlikely before late 2025 or later Permian Basin producers are Continue Reading
US shale companies enjoy ‘tsunami of cash’ on high oil prices
America’s shale oil companies are enjoying a cash bonanza, as soaring oil prices and months of capital restraint transform the fortunes and balance sheets of a sector once notorious for Continue Reading
Permian oil output forecast to hit record high in June -EIA
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise by 88,000 barrels per day (bpd) to a record 5.219 Continue Reading
We Can’t Drill Our Way to Energy Security
Thanks to a remarkable oil and gas boom, the United States has achieved the long-sought goal of energy self-sufficiency: We now produce more oil and refined products, natural gas and Continue Reading
U.S. Rig Count Continues To Rise As WTI Hits $110
The number of total active drilling rigs in the United States rose by 9 this week, on top of the 7 rig increase in the week prior, according to new Continue Reading
Soaring Costs Set To Hurt U.S. Shale Production
Soaring Production Costs Stoke Fears of US Shale Slowdown – Just as US shale producers were poised to capitalize on high crude prices and bring new production to the markets, Continue Reading
US oil, gas rig count gains three, totaling 806 on week; Bakken highest since April 2020: Enverus
Highlights Permian adds most rigs on week, up 4 to 329 Most basins gain rigs; only DJ loses a rig Total rig count is approaching pre-pandemic levels The US oil Continue Reading
US Crude Output Growth Expected to Slow Amid Soaring Costs
American drillers will increase oil production at a slower pace than previously expected amid surging costs, stymieing the Biden administration’s hope that the industry will boost output to tame fuel Continue Reading
U.S. Shale Swings From Losses To Record Cash Flows
U.S. shale focuses on returning capital to shareholders in 2022. Deloitte: the shale patch is on track for massive free cash flows of a combined $172 billion in 2022 alone. Continue Reading
Oil Prices Top $100, Yet Some Big U.S. Frackers Let Their Production Fall
The Biden administration has urged the industry to step up production. Oil prices are at their highest in years and politicians want companies to pump more. But most large American Continue Reading
U.S. Rig Count Ticks Higher As Oil Prices Head For Another Weekly Gain
The number of total active drilling rigs in the United States rose by 7 this week, after an increase of 3 rigs in the week prior, according to new data Continue Reading
Permian crude volumes surge despite supply chain hindrances: NuStar
Frack crew, supply chain shortages slow growth More bullishness on growth in 2023 Crude oil volumes out of the Permian Basin are still rising to new highs despite supply chain Continue Reading
Oilfield Services Are Set For Years Of Profits
After suffering through a wave of bankruptcies during the covid pandemic, the oilfield services sector is bouncing back in a big way as the world attempts to boost oil production. Continue Reading
Shale Producers Face $42 Billion In Hedging Losses
BloombergNEF: hedging losses are mounting in U.S. shale. Hess Corp found itself spending $325 million in March to exit hedges at a serious loss. Shale giant Pioneer lost $2 billion Continue Reading
Oilfield services bounce back as US drilling boom gathers pace
A drilling boom in America’s oil heartlands has triggered a sharp reversal of fortunes for the country’s long-suffering oilfield services groups as they reap the rewards of the scramble to Continue Reading
The U.S. Shale Patch Is Facing A Plethora Of Problems
Mr. Messler is an oilfield veteran, recently retired from a major service company. During his thirty-eight year career he worked on six-continents in field and… The U.S. government appears to Continue Reading
Chevron to Ramp Up Production at Biggest USA Oil Field
Chevron will produce the equivalent of about 725,000 barrels of oil daily in the Permian Basin this year. Chevron Corp. lifted its production target in North America’s biggest oil field Continue Reading
U.S. drillers add oil and gas rigs for record 21 months a row -Baker Hughes
U.S. energy firms last week added oil and natural gas rigs for a record 21 months in a row as high prices and prodding by the federal government prompted some Continue Reading
The Rig Count Climbs As Markets Clamor For More Oil
The rig count has increased once again, hitting levels not seen since April 2020. Russia’s invasion of Ukraine has only added to the demand for drilling, with the rig count Continue Reading
North American oil companies scramble to find workers despite boom
When Jeremy Davis was laid off from his oilfield job in Texas in 2020, he did not want to leave the industry after 17 years in oil and gas. But Continue Reading
Fracking Boom Turns Texas Into the Earthquake Capital of the U.S.
Earthquakes were never anything people in West Texas thought much about. Years would pass in between tremors that anybody felt. Even after the shale revolution arrived in force a decade Continue Reading
Extreme Weather Leads To Sharp Drop In North Dakota Oil Production
A recent bout of bad weather has slashed oil production in North Dakota by almost 80 percent, and restoring the lost output could take several days. North Dakota, home to Continue Reading
In the Top U.S. Oil Field, a Battle for Materials Crimps Growth
America’s most prolific oil field is running out of the workers, cash and equipment needed to produce more oil. In the Permian Basin, the sprawling oil-rich region in West Texas Continue Reading
Goldman’s Top 5 Shale Plays For 2022
Blackrock CEO Larry Fink: elevated energy prices ” will spur a huge amount of investing .” Goldman Sachs: there are five robust factors that could fuel a tripling of oil Continue Reading
U.S. Rig Count Inches Higher As Oil Rally Halts
The number of total active drilling rigs in the United States rose by 2 this week, after an increase of 4 rigs in the week prior, according to new data Continue Reading
Oil’s Hired Hands See Outlook Brighten as War Fractures Markets
Oil Analyst Sen Sees Rising Risk as SPR Impact Fades The global oil industry is on pace to repeat or even surpass the heady days of 2008 when crude ascended Continue Reading
EIA: U.S. Crude Production Doubled Since 2010 Because Of Horizontal Wells
81 percent of completed wells in the oil and gas industry were horizontal or directional in 2021. The number of completed oil and gas wells fell by 66 percent between Continue Reading
It’s Getting Increasingly Expensive To Boost U.S. Oil Production
U.S. shale producers have exercised astonishing capital discipline in recent years. Despite calls on U.S. oil firms to ramp up production, many producers are being plagued by rising costs and Continue Reading
EIA: Number Of DUCs Falls To Lowest On Record
The number of Drilled but Uncompleted Wells sank to its lowest level ever recorded, according to the Energy Information’s latest Drilling Productivity Report published on Monday. The number of Drilled Continue Reading
EIA: U.S. Shale Production To See Sizeable Increase In May
U.S. Shale production in the seven most prolific shale basins is set to increase 132,000 bpd in May to 8.649 million bpd, according to the Energy Information Administration’s latest Drilling Continue Reading
Permian Drilling Permits Hit All-Time Monthly High
Horizontal drilling permits for new wells in the Permian hit an all-time high in March, with 904 total permit awards, Rystad Energy said. Horizontal drilling permits for new wells in Continue Reading
Texas Sees Oil Employment Rise In March
The Texas Independent Producers and Royalty Owners Association notes another month of positive job growth for the Texas upstream sector in 2022. Citing the latest Current Employment Statistics report from Continue Reading
U.S. Oil Rig Count Ticks Higher Amid Rebound In Oil Prices
The number of total active drilling rigs in the United States rose by 4 this week, after a sizable increase of 16 rigs in the week prior, according to new Continue Reading