Texas at the epicenter. We’re witnessing the destruction of money that loosey-goosey monetary policies encouraged. Following the sharp re-drop in oil and natural gas prices in late 2018, bankruptcy filings Continue Reading
After a brutal week for oil prices courtesy of an outbreak of a deadly virus in China, Baker Hughes reported that the number of oil and gas rigs in the Continue Reading
Producers in the New Mexico portion of the Permian Basin have shown resiliency amid depressed commodity prices and falling rig counts. Production out of the Permian’s Delaware sub-basin in New Continue Reading
Rising productivity from new wells has driven U.S. shale production higher in recent years and higher in 2019, too, the Energy Information Administration (EIA) said on Friday. Last year, shale Continue Reading
Highlights Companies halt plans to fire workers Unions, producers to sit down for further talks Agreement comes as government seeks to improve investment conditions Buenos Aires — An oil union Continue Reading
Despite the fact that United States President Donald Trump declared a truce between the U.S. and China in their more-than-a-year-long trade war in Switzerland this week, we shouldn’t expect to Continue Reading
More than 200 oil and gas companies in North America have filed for bankruptcy since 2015, and the list of casualties could continue to climb this year. From 2015 through Continue Reading
The heart of the U.S. oil industry, Houston, should be ready to position itself as a leader in the energy transition as climate change concerns will change the industry over Continue Reading
Getty Images An oil pump is viewed in Big Springs, Texas. Getty Images Oil prices already gave back much of December’s gains, following rising global supplies and easing tensions in Continue Reading
In a first ever, Permian forward gas prices settled in negative territory this week as the 2020 market outlook for pipeline capacity exiting the West Texas basin continues to deteriorate. Continue Reading
“All oil-field workers are radiation workers.” That quote comes from a blockbuster investigation by Justin Nobel writing in Rolling Stone , who has spent more than a year and a Continue Reading
The number of oil and gas company bankruptcies in the United States and Canada rose 50% in 2019 over the previous year, and is likely to increase as a slide 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
U.S. shale oil fracking has already peaked and is in a period of sustained contraction, according to two major providers of services to the industry. That view from Halliburton Co. Continue Reading
Oil production in the seven most prolific shale plays in the United States is set to increase by 22,000 bpd in February to 9.2 million bpd, the Energy Information Administration Continue Reading
Occidental Petroleum’s (NYSE:OXY) management has been pummeled since the deal with Anadarko Petroleum was announced last spring. Investors and stock analysts alike decried the purchase as being a “value destroyer,” Continue Reading
Oil bulls will get no help this week before the week’s end, with Baker Hughes reporting that the number of oil and gas rigs in the US increased this week, Continue Reading
The three biggest oilfield service providers have all announced asset sales as they adapt to an environment featuring laxer demand for their services, Reuters reports . Halliburton is selling its Continue Reading
While U.S. crude oil production is set to continue to rise, energy-related carbon dioxide (CO2) emissions in America are expected to have dropped last year and to continue falling through Continue Reading
Forecasting a significant contraction in North American oil and gas activity for 2020, Schlumberger Friday unveiled a 2020 strategy focused on expanding margins by shrinking its less profitable business lines. Continue Reading
The U.S. rig count increased for the first time this year as the nation added 14 oil rigs and one gas rig, according to weekly data from Baker Hughes Co. Continue Reading
The oil market is likely to stay well supplied in the near term with oil stocks growing in the first half of 2020 despite deeper production cuts from the OPEC Continue Reading
A leading oil union in Neuquen, Argentina’s biggest oil basin, is threatening to go on strike if companies lay off even one worker, a situation that could hit crude and Continue Reading
Over the past six months, the number of drilled but uncompleted (DUC) wells across the U.S. shale patch has been steadily declining in a fresh sign that shale producers have Continue Reading
Ticker: Just a few years back, the U.S. shale industry was drowning in a sea of hubris, with pompous experts making outrageous claims such as the Permian Shale is a Continue Reading
U.S. shale growth may be slamming on the breaks, although analysts differ over how significant the slowdown will be. The EIA says that U.S. shale growth will slow down this year, but the Continue Reading
Slowing U.S. crude oil production growth will likely lead to a new wave of consolidation across the U.S. shale patch, where the big players will acquire the ‘smaller guys’, shale Continue Reading
Over the past five years, has the industry and its investors mistaken a massive structural change for a simple cyclical event? (Bloomberg) — Such is the extent of the shakeout Continue Reading
Since taking flight in 2008, the American shale oil revolution has probably been the biggest energy story since the end of World War II. U.S. crude oil production has leaped Continue Reading
In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterized the transaction as Continue Reading
2020 is starting off with two weeks of rig losses, according to Baker Hughes, with the US oil and gas rig count falling by 15 rigs for the week. The Continue Reading
The dramatic jump in productivity seen in the early days of the US shale oil boom may be waning, but is likely not over, according to analysts, who expect efficiencies, Continue Reading
Relatively clean and flexible, natural gas has been described as “the champagne of hydrocarbons.” Lately, though, energy companies are treating it about as sparingly as a team that just won Continue Reading
The U.S. dropped a total of 15 oil and gas rigs this week, according to data from Baker Hughes Company. The U.S. dropped a total of 15 rigs this week, Continue Reading
Minister says ‘2020 will be very good’ Not worried about Russia’s OPEC+ commitment US producers facing financial challenges US shale production will be flat or even declining by 2021, and Continue Reading
Planet-heating pollution from the U.S. oil, gas, and petrochemical industries could rise about 30% by 2025 compared with 2018 because of additional drilling and 157 new or expanded projects “fueled Continue Reading
Apache Corp. is shuttering its San Antonio office, resulting in the layoffs of 272 employees, the company said in a notice sent to the Texas Workforce Commission this week. The Continue Reading
Direct oil and natural gas employment in the Permian basin totaled 87,603 people in 2019, according to a new report from TIPRO. Direct oil and natural gas employment in the Continue Reading
Two major U.S. oil producers, Occidental Petroleum and Apache Corporation, have started slashing jobs this week as they look to cut costs in the slowdown of the U.S. shale production Continue Reading
This is the year when shale drillers are finally going to deliver solid returns to investors that have grown weary of the industry’s decade-long cash burn, the head of explorer Continue Reading
The insanity continues in the North Dakota Bakken, as the shale industry is flaring nearly 20% of its natural gas production. That is one hell of a lot of natural Continue Reading
ExxonMobil Corp.’s subsidiary XTO Energy, Inc. has entered into a long-term gas gathering and processing agreement with private midstream company Outrigger Energy II under which Outrigger will build a cryogenic Continue Reading
The ongoing growth of fracking in the U.S., plus the related buildout of pipelines, refineries and petrochemical plants, will release the equivalent of 50 new coal-fired power plants over the Continue Reading
Last April, Colorado Governor Jared Polis (D) said, “…it is our hope that the oil and gas wars that have enveloped our state are over,” but the conflict appears far Continue Reading
U.S. shale producers have boosted their hedges to lock in higher oil prices for their production this year and next as oil prices shot up following the heightened tension in Continue Reading
Not counting the decade’s largest acquisition deal, the $57-billion Occidental takeover of Anadarko, 2019 saw only $39 billion in oil and gas deals. But if the $11 billion deals in Continue Reading
Alta Mesa Resources, Inc., the Houston-based energy company that filed bankruptcy in September 2019 , has received a $310 million bid for its assets from joint venture BCE-Mach III LLC. Continue Reading
The industry’s advance beyond the rig count indicating production growth has complicated things for forecasters. Every Friday, the Baker Hughes oil and natural gas rig count gets released. This is Continue Reading
U.S. drilling activity continued to contract in the fourth quarter, and the sense of gloom among shale drillers in Texas remains palpable. The latest data from the Dallas Federal Reserve Continue Reading
Concern about global oil demand and OPEC+ production cuts are now part of the oil price landscape and few expect any surprises coming from these directions. There is, however, a Continue Reading
