The breakdown in OPEC+ negotiations for deeper output cuts in response to reduced oil demand stemming from the COVID-19 virus could send push oil prices below $40/b, causing US shale Continue Reading
Just as the coronavirus outbreak wreaks havoc on the oil market, Russia has spotted an opportunity to hurt rivals in the US shale patch. Moscow’s partner’s in Opec now are Continue Reading
Baker Hughes reported that the number of oil and gas rigs in the US rose this week by 3 to 793, with the total oil and gas rigs clocking in Continue Reading
It’s one of the first signs that the majors are throttling back on production in response to the recent price slump. (Bloomberg) — Exxon Mobil Corp. is slowing the pace Continue Reading
A gas flare burns in the Permian Basin area of Garden City, Texas. A member of the top energy regulator in Texas lost his place on November’s ballot to a Continue Reading
Kinder Morgan cannot be sure its proposal to build a third natural gas pipeline serving the Permian Basin will move forward amid challenges securing commercial support and volatile energy markets, Continue Reading
The sharp drop in the oil price since the coronavirus outbreak has left US shale producers hanging on for survival, and dependent on their big rivals in Opec to come Continue Reading
With West Texas Intermediate falling below $45 a barrel after the latest burst in coronavirus panic, U.S. shale oil and gas producers are feeling growing heat. Except for the Permian, Continue Reading
Baker Hughes reported that the number of oil and gas rigs in the US fell this week by 1 to 790, with the total oil and gas rigs clocking in Continue Reading
Goal to reach 36,000-38,000 boe/d in December Vista’s wells are performing among best in the play Flexibility is key for handling volatility in Argentina Buenos Aires — Vista Oil & Continue Reading
Banning hydraulic fracturing and halting new drilling on federal land would cost the U.S. economy $7 trillion in the next decade and kill millions of jobs, the U.S. oil industry’s Continue Reading
In mid-January, Adam Waterous, who operates the private equity firm Waterous Energy Fund, made a prediction about the crown jewel of the U.S. shale oil industry, the Permian shale play Continue Reading
The crazy rate of production growth seen in US shale over the last five years is a thing of the past, Schlumberger CEO Olivier Le Peuch told Reuters on Tuesday Continue Reading
As oil prices plummet, oil bankruptcies mount , and investors shun the shale industry, America’s top oil field — the Permian shale that straddles Texas and New Mexico — faces Continue Reading
Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Continue Reading
The U.S. shale industry continues to show signs of slowing down, with production declining in major shale basins outside of the Permian. Financing stress has plagued the shale sector for Continue Reading
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
Baker Hughes reported that the number of oil and gas rigs in the US rose this week by 1 to 791, with the total oil and gas rigs clocking in Continue Reading
Has U.S. oil production growth hit the buffers? Supply has boomed over the last decade, disrupting the market, domestically and internationally. But weak commodity markets and corporate strategies are now Continue Reading
The US rig count is up just one rig from last week to 791. The U.S. rig count is up one rig from last week to 791, with oil rigs Continue Reading
Despite the slowing growth rate across the U.S. shale patch, oil production in Texas will rise in nearly every month in 2020, thanks to sufficient fracking activity in the state Continue Reading
Independent explorers have been punished by investors for aggressive growth plans that favored skyrocketing production over returning cash to shareholders. (Bloomberg) — Three shale producers are fighting to show which Continue Reading
A fracking ban would cost millions of jobs, according to the American Petroleum Institute. A fracking ban would cost millions of jobs. That’s according to the American Petroleum Institute’s (API) Continue Reading
US shale oil production is set to increase only 11,000 b/d in February and 18,000 b/d in March, low growth levels not seen in over three years, the US Energy Continue Reading
Owing to a collapse of oil prices at the end of 2018, M&A activity in oil and gas has almost ground to a halt after a flurry of deals last Continue Reading
Apple Inc said on Monday that it will not meet its revenue guidance for the March quarter due to the coronavirus outbreak affecting both production and demand in China. The Continue Reading
Baker Hughes reported that the number of oil and gas rigs in the US held fast yet again this week at 790, with the total oil and gas rig falling Continue Reading
1. Is the Permian getting gassier? – “We expect Permian gross gas production to increase by more than 4.5 billion cubic feet per day between the fourth quarter of 2019 Continue Reading
Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of Continue Reading
Exploration and production (E&P) companies are set to face one of the biggest challenges – if not the biggest challenge ever – to their business models. This challenge is a Continue Reading
Crude oil production in North Dakota could peak over the next five years as producers will have drilled up the core production areas and will have to move to less Continue Reading
Without the unprofitable and unconventional shale oil supply, U.S. oil production would still be below 5 million barrels per day. While we can applaud the shale industry for allowing the Continue Reading
John Hess, CEO of Hess Corporation, a large U.S.-based independent oil producer, recently told a Houston audience where he’s putting the company’s money these days : Offshore drilling. That should Continue Reading
Job losses in oil and gas eased in January. The job losses in the U.S that have plagued the oil and gas industry for most of the latest downturn showed Continue Reading
John Hess, CEO of Hess Corporation, a large U.S.-based independent oil producer, recently told a Houston audience where he’s putting the company’s money these days : Offshore drilling. That should Continue Reading
There hasn’t been much Permian-centric M&A follow-through from last spring’s buy-out of Anadarko Petroleum by Occidental, (NYSE: OXY). At the time, the sages and pundits were widely predicting an M&A Continue Reading
Many companies in America’s oil patch were already struggling when the coronavirus came around. Investors are worried some won’t pull through. U.S. benchmark crude prices started the year strong, rising Continue Reading
A Republican defending his seat on Texas’s all-powerful energy regulator is preparing a first-of-its-kind report on natural gas flaring, a practice that’s come under fire from environmental groups and even Continue Reading
It’s business as—almost–usual in the United States, even after a fifth week of faltering oil prices as the coronavirus outbreak eats away at oil demand and strikes fear in the Continue Reading
The Global Economy is heading for serious trouble when the disintegration of the U.S. Shale Oil Industry begins, likely within the next few years. With Global GDP growth based on Continue Reading
Much of the cheap oil has been produced, and the oil industry is increasingly relying on costly reserves. While the world is awash in supply right now, the market may Continue Reading
US Senator Bernie Sanders, a leading Democratic presidential candidate, has introduced legislation to phase in a nationwide ban on hydraulic fracturing and immediately block all federal permits on “fracked” oil Continue Reading
In mid-January, Adam Waterous, who operates the private equity firm Waterous Energy Fund, made a prediction about the crown jewel of the U.S. shale oil industry, the Permian shale play Continue Reading
Plains All American Pipeline expects Permian oil production growth to shrink to 400,000 b/d by the end of 2020 as drillers focus on capital discipline, executives said Tuesday. US production Continue Reading
Law firm Haynes and Boone recently released its updated Energy Bankruptcy Reports . These reports cover North American oil and gas producers, oilfield services and midstream bankruptcies from the beginning Continue Reading
Rystad Energy looks at the potential impact of a federal acreage fracking ban. If fracking activity was to be eliminated on federal acreage, the result would be a widespread shift Continue Reading
Range Resources rushed to refinance its debt at the start of this year, taking advantage of a rally in oil prices and renewed investor demand for junk-rated energy bonds. Despite the Continue Reading
U.S. oil producer Hess Corporation said on Tuesday it expects to allocate US$3 billion for production, development, and exploration in 2020, focusing on high-return investments in the Bakken shale play Continue Reading
As 2020 begins, the impacts of climate change have become increasingly clear around the world. The new year started amid devastating wildfires, tied to the worst droughts Australia has experienced Continue Reading
Equinor, Shell and Total vowed to press on with projects in Vaca Muerta, even as policy uncertainty and price controls make it harder to plan investment in Argentina’s biggest shale Continue Reading
