Big Fracking Profits at $50 a Barrel? Don’t Bet on It
U.S. oil prices traded below $50 last week and closed Monday at $52.95. What Does ‘Break-Even’ Mean? Most fracking operations need an oil price above $50 a barrel for robust Continue Reading
Schlumberger’s Year-End Frack Forecast is a Lump of Coal
The North American fracking market — already expected to be a downer for the holidays — is turning out to be even worse than expected, according to the world’s biggest Continue Reading
Shale Drillers May Cut Capex As Oil Falls To $50
Just as the U.S. shale patch is drafting spending budgets for 2019, oil prices have tumbled 25 percent from four-year highs in early October to just above $50 a barrel Continue Reading
U.S. drillers add oil rigs for fifth straight month: Baker Hughes
U.S. energy firms this week added oil rigs for a third week in four and increased the rig count for the fifth consecutive month, even though oil prices this week Continue Reading
Falling Rig Count Can’t Halt Oil Price Slide
Baker Hughes reported a 3-rig decrease for oil and gas in the United States this week. The total number of active oil and gas drilling rigs now stands at 1,076 Continue Reading
US Adds Two Oil Rigs This Week
The U.S. added two oil rigs this week, bringing the total number to 887, according to weekly data compiled by Baker Hughes, a GE Company. This week’s count makes three Continue Reading
Permian Pipeline to Access Texas Deepwater Ports
Jupiter Energy Group has launched its 90-day open season for binding shipper commitments on the Jupiter Pipeline Jupiter Energy Group has launched its 90-day open season for binding shipper commitments Continue Reading
Surge of oil and gas flowing to Texas coastline triggers building boom, tensions
To the east, the Gulf of Mexico stretches out, blue-green and sparkling. To the west and north, flounder and trout meander in a chain of bays. People flock here to Continue Reading
OPEC says low prices hurt US shale companies too, boosting the case for oil output cuts | S&P Global Platts
Prices below $60/b are hurting US shale producers and potentially strengthening OPEC’s hand to introduce tighter quotas and output cuts when the group and its allies meet next week, according Continue Reading
US rig count drops by 25 to 1,183 in week ended November 28
The US rig count dropped by 25 on the week to 1,183 for the period ended November 28, posting small reductions in most of the eight large domestic oil and Continue Reading