US Shale Becomes Oil Industry’s Safe Haven
Big oil is investing more in U.S. shale, not less, after the recent tumble in crude prices. (Bloomberg) — Big Oil is investing more in U.S. shale, not less, after Continue Reading
Big Oil Doubles Down On Shale Despite Price Drop
It’s the time of the year when oil companies start announcing their budgets for next year and besides a steady albeit guarded optimism, one thing stands out: oil majors are Continue Reading
Hundreds of Texas Oil and Gas Workers to Lose Jobs in New Year
Layoffs are on the horizon for hundreds of oil and gas workers in Texas. A few hundred oil and gas workers will find themselves without jobs near the start of Continue Reading
The Real Implications Of The New Permian Estimates
This week the United States Geological Survey (USGS) announced a groundbreaking oil and gas discovery in West Texas’ Permian Basin. According to the organization’s recent press release , a whopping Continue Reading
OPEC coalition cuts unlikely to affect US shale output: analysts
Saudi Arabia’s energy minister Khalid Al-Falih said Friday that US oil and natural gas producers were “breathing a sigh of relief” over the planned production cut announced Friday, but analysts Continue Reading
Chevron Shrugs Off Lower Oil to Boost Spending on Shale Projects
Chevron Corp. raised its spending budget for the first time since 2014 even as crude prices plummet, doubling down on U.S. shale. The world’s third-largest oil producer by market value will Continue Reading
U.S. oil drillers cut most rigs since May 2016: Baker Hughes
(Reuters) – U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter Continue Reading
Oil Prices Hold Steady As U.S., Canadian Oil Rig Count Take Steep Dive
Baker Hughes reported a 1-rig decrease for oil and gas in the United States this week—a loss in rigs for the second week in a row, with a 10-rig decrease Continue Reading
Chevron Raises 2019 Budget To $20 Billion
For the first time in four years, Chevron will spend more in 2019 than in the current year, with total spending at US$20 billion, the company said in a statement Continue Reading
US Oil Rig Count Drops by 10
US drillers cut 10 rigs this week. The U.S. dropped 10 oil rigs this week, according to weekly data compiled by Baker Hughes, a GE Company (BHGE). This week’s drop Continue Reading