U.S. Shale Isn’t Losing Sleep Over The 2020 Elections
The battle lines are already drawn in a high-stakes political contest that will ostensibly determine the fate of the American shale industry. On the blue corner is former VP Joe Continue Reading
Oil Explorers Revert to Pre-Shale Drilling Level Across U.S.
Oil explorers are drilling at the slowest pace in more than a decade as the pandemic-driven collapse in energy demand wipes out cash flow, jobs and even entire companies. Drillers idled Continue Reading
Oil And Gas Rig Count Falls For Ninth Straight Week
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 17, falling to 301, with the total oil and Continue Reading
The Shale Bust Has Arrived
1. Shale bust is here – Shale wells decline somewhere between 70 and 90 percent from their initial peak within 3 years, with the bulk of that decline coming within Continue Reading
Producers turn to hedging as shelter against oil market turmoil
US shale oil producers have moved in droves during the last couple of months to protect themselves from current market turmoil by hedging, using a variety of derivative instruments to Continue Reading
U.S. pipeline operator Energy Transfer warns of coming job cuts
U.S. pipeline operator Energy Transfer will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. Marshall Continue Reading
Oil Explorers Revert to Pre-Shale Drilling Level Across U.S.
Oil explorers are drilling at the slowest pace in more than a decade as the pandemic-driven collapse in energy demand wipes out cash flow, jobs and even entire companies. Drillers Continue Reading
Oil-Bust Refugees Are Being Courted By Clean Energy in Texas
Jeff Bishop’s LinkedIn post gets right to the point: “Houston Oil & Gas Folks — we’re hiring in Texas” for jobs in clean tech. His company, battery developer Key Capture Energy, Continue Reading
U.S. Shale Production Won’t Bounce Back Until 2021
It could take a year before U.S. shale production starts to rise again, the chief executive of Precision Drilling Kevin Neveu told Bloomberg. This could happen even if a hypothetical Continue Reading
US oil, gas rig count slips 24 week on week to 333 as cycle bottom seen nearing
Highlights Permian Basin sheds 14 rigs this week to fall to 171 Decline in rig totals slowing Operators eye more gas drilling in H2 2020 Houston — The US oil Continue Reading
Shutting Down Oil Wells, a Risky and Expensive Option
The temporary shutting in of wells is the one thing that oil companies are trying to avoid at all costs. That’s because restarting production is expensive and wells are not Continue Reading
U.S. Shale Is Living Beyond Its Means
Global investment in energy will fall by $400 billion in 2020, the largest single-year decline in history. U.S. shale will be hit particularly hard, with capex set to fall in Continue Reading
Shut-in, even new wells may be attractive at $30s/b WTI: analysts
NYMEX crude futures have risen above the $30/b level that represents breakeven for many US upstream operators, which could result in some restoration of shut-in wells soon as the economic Continue Reading
Oil CEO Says US Shale Rebound Is At Least a Year Away
US shale drillers may still take at least a year before moving rigs back into the field. (Bloomberg) — Even if the economy continues to recover and a second wave Continue Reading
Permian Drillers Resilient Despite Record-Breaking Rig Count Crash
Although the Covid-19 pandemic continues to decimate active horizontal rigs in the US, the Permian Basin is emerging as the last surviving epicenter of drilling activity, a Rystad Energy analysis Continue Reading
Texas Economy Could Lose $24B If Oil Prices Stay In The $30s
The downturn in the U.S. oil industry could lead to more than US$24 billion of lost GDP for Texas alone, if oil prices remain in the $30s, Ed Hirs, Energy Continue Reading
Investment in U.S. Shale Projects to Halve in 2020, IEA Says
Investment in the U.S. shale sector will drop by half this year, the International Energy Agency said Wednesday, predicting a period of pain for producers, even as oil prices rally. Continue Reading
Will U.S. Shale Survive If Oil Hits $40?
Within a month, the U.S. oil benchmark West Texas Intermediate recorded two first-of-a-kind events. First, it fell below zero on April 20. Then, it soared up so high it is Continue Reading
US shale industry braces for wave of bankruptcies
The biggest independent shale oil groups in the US reported a record combined loss of $26bn in the first quarter as the sector braces itself for a wave of bankruptcies Continue Reading
Shale Bust Hits Rural Communities As Oil Royalties Plunge
The oil price collapse is hurting not only U.S. shale firms and their drilling activities. The crash has severely crippled the royalty payments to a dozen million American oil and Continue Reading
Oil Firms Among Worst Hit As Wave Of Bankruptcies Hits Texas
Oil and gas companies, as well as the retail industry, are the worst hit sectors in the COVID-19 pandemic that swept through businesses in Texas, bankruptcy and restructuring lawyers say. Continue Reading
‘This could be the one that gets me,’ says oilfield service veteran
Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co ( HAL.N ) for the fifth time in 15 years when his career came to Continue Reading
$30 Oil Isn’t Good Enough For U.S. Shale
The rebound of WTI from below zero back into the $30s led to a wave of bullish trading, with energy stocks rallying in response. One renowned industry expert recently celebrated Continue Reading
Crude Oil, Shale News: Latest Analysis Amid Price War
Oil prices have surged more than 75% in the U.S. this month. But don’t expect a quick rebound in supply from shale explorers. The quick turnaround in oil markets is exposing the shale Continue Reading
Coronavirus Threatens to Hobble the U.S. Shale-Oil Boom for Years
But before the new coronavirus sapped global demand for crude, causing shale-drilling companies to shut off wells en masse to avoid losing money, many were struggling to turn a profit Continue Reading
America’s Shale Drillers Extend Their Retreat for a 10th Week
Shale explorers extended their retreat into a 10th week, dropping the number of oil rigs at work in the U.S. to the lowest since 2009 as some struggle to stay Continue Reading
US oil production is falling much more quickly than thought
US oil production is falling more steeply than expected, forcing analysts to scale back output projections even before a deep plunge in planned upstream spending further cuts supply later this Continue Reading
U.S. Rig Count Collapse Continues Despite Soaring Oil Prices
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 21, falling to 318, with the total oil and Continue Reading
Permian Basin, other associated gas plays lead US production to 16-month low
Highlights Output hits 85.5 Bcf/d, down 9% from record high At 357, US rig count has fallen 57% from annual peak Permian, SCOOP/STACK, Bakken lead output decline New York — Continue Reading
Boom to bust in the US shale heartlands
US oil and gas producers entered 2020 under the cosh – out of favor with investors and wilting under heavy debt loads. The Russian and Saudi oil price war was Continue Reading
America’s Shale Drillers Extend Their Retreat for a 10th Week
Shale explorers extended their retreat into a 10th week, dropping the number of oil rigs at work in the U.S. to the lowest since 2009 as some struggle to stay Continue Reading
Harold Hamm, Fracking Pioneer, Faces a Career Reckoning
Harold Hamm, the wildcatter who helped usher in the American fracking boom, has weathered his share of oil busts. None of them matched this one. The 13th child of Oklahoma Continue Reading
U.S. Shale Scrambles To Innovate Its Way Out Of Crisis
Headlines have been pronouncing the impending death of the shale industry since long before the spread of the novel coronavirus. “Even when oil was priced at $30 a barrel,” writes Continue Reading
US oil, gas rig count decline slows, falls 12 to 357: Enverus
The US oil and gas rig count dropped by 12 to 357, rig data provider Enverus said Thursday, marking the slowest week-on-week decline in more than two months since the Continue Reading
Shale Faces Multibillion-Dollar Hedging Crunch
U.S. shale drillers spooked by the epic meltdown in oil markets are trying to figure out how to protect themselves in the future. It won’t come easy, or cheap. After oil’s Continue Reading
As North Dakota considers oil waste, only Continental urges state output limits
Bakken driller Continental Resources was the lone producer voice Wednesday in favor of North Dakota regulators declaring oil produced at certain levels as waste and then potentially imposing state curtailments. Continue Reading
Shale Faces Multibillion-Dollar Hedging Crunch
U.S. shale drillers spooked by the epic meltdown in oil markets are trying to figure out how to protect themselves in the future. It won’t come easy, or cheap. After oil’s Continue Reading
Permian Basin Leads Decline In U.S. Shale
U.S. shale production is set to fall to a two-year low in the coming weeks, with the Permian basin leading the way down. In the latest Drilling Productivity Report , Continue Reading
North Dakota expected to follow Texas’ lead in leaving oil cuts to market
North Dakota will likely follow Texas’ lead in letting oil market dynamics and individual producers, not state regulators, decide how much production to curtail in the face of low prices Continue Reading
Shale Output Seen Tumbling to 2018 Low
Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018. (Bloomberg) — Oil production from the top seven shale Continue Reading
Why U.S. Shale Is Too Important To Fail
It may well be the case that the U.S. shale sector has cut over US$50 billion from its planned spending this year, the number of operating rigs has fallen by Continue Reading
Should U.S. Shale Be Worried About A Chinese Takeover?
American shale is easy prey as Beijing goes bargain-hunting. China could soon embark on a global buying spree following the coronavirus-induced economic crisis and the re-opening of its economy , Continue Reading
US shale oil output decline set to accelerate in June by 197,000 b/d: EIA
Highlights Voluntary producers’ shut-in output accelerates EIA revises May production estimates down 500,000 b/d Houston — Declining US shale oil output is projected to slide further in June by 197,000 Continue Reading
No One Expected Shale Cuts to Happen So Fast
In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production. But few expected that the cuts would Continue Reading
U.S. Shale Cuts Production Deeper And Faster Than Expected
“I think the cuts are automatic if you are a believer in markets,” U.S. President Donald Trump said about potential American oil production cuts in early April while he was Continue Reading
EIA Predicts A Record Drop In U.S. Shale Oil Production
Crude oil production in the seven major US shale basins will fall by a record 197,000 barrels per day next month, the Energy Information Administration reported on Monday. Production in Continue Reading
Shale Output Seen Tumbling to 2018 Low
Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018. (Bloomberg) — Oil production from the top seven shale Continue Reading
U.S. Shale Could Crush The Oil Market Recovery
Oil markets have taken a beating around the globe, but nowhere has the pummeling been worse than in the United States shale patch, where the oil price crash plunged the Continue Reading
No One Expected Shale Cuts to Happen So Fast
In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production. But few expected that the cuts would Continue Reading
Rig Count Drops To New Low As Oil Prices Soar
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 35, falling to 339, with the total oil and Continue Reading