Chevron Boosts Spending on Shale Projects
Chevron raises its spending budget for the first time since 2014. (Bloomberg) — Chevron Corp. raised its spending budget for the first time since 2014 even as crude prices plummet, Continue Reading
U.S. shale producers see OPEC pullback helping 2019 profits
U.S. shale producers cheered OPEC’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing. Continue Reading
U.S. oil drillers cut most rigs since May 2016: Baker Hughes
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 for the Continue Reading
Permian Oil Reserves May Be Twice As Big As We Thought
The U.S. Geological Survey has revised the technically recoverable reserves in the Wolfcamp Basin, in the Permian shale play, to 46.3 billion barrels of crude and 281 trillion cu ft Continue Reading
Oil Price Slide Puts The Brakes On U.S. Shale Growth
While U.S. President Donald Trump continues to call on OPEC to keep oil prices low, because “The World does not want to see, or need, higher oil prices!”, one corner Continue Reading
46.3B Barrels of Oil in Wolfcamp-Bone Spring
New federal study estimates undiscovered, technically recoverable resources in Wolfcamp shale and Bone Spring Formation in Permian’s Delaware Basin. The Wolfcamp shale and overlying Bone Spring Formation in the Delaware Continue Reading
Shale’s growing profits at the mercy of OPEC cuts and Trump’s tweets
The recent nosedive in crude oil prices came just as shale producers had started delivering healthy returns after years of heavy spending to boost production and market share. The shift Continue Reading
The U.S. Pipeline Industry Is Booming
Every once in a while, a new technological development shakes up a conservative sector. In the oil and gas industry, the shale revolution has changed the business in multiple ways. Continue Reading
U.S. Shale Struggles As Oil Prices Drop
The explosive production growth in the U.S. shale patch has surprised even the most optimistic forecasters, but the huge jumps in output belies and obscures the financial state of the Continue Reading
Schlumberger sees lower North American fourth-quarter revenues on drop in fracking
Schlumberger, the world’s largest oilfield services provider, warned on Tuesday that its fourth-quarter North America revenues will likely decline 15 percent sequentially on steeper-than-expected price declines in hydraulic fracturing. The Continue Reading