Category: Shale Oil

2020 is starting off with more rig losses, according to Baker Hughes, with the US oil and gas rig count falling by 9 rigs for the week. The total oil Continue Reading

The U.S. closed out the first week of the new year dropping a total of nine rigs, according to data from Baker Hughes Company. The number of oil rigs declined Continue Reading

Oil prices are the highest they have been in months, but that likely will not tempt most US upstream companies into spending more for 2020, according to two US shale Continue Reading

Vastly slower U.S. oil growth this year and the prospect of a plateau for the world’s top oil producer have signaled a new and unfamiliar era of self-restraint for the Continue Reading

There was a time when natural gas was a welcomed byproduct of crude oil drilling, and drillers in the prolific Permian basin enjoyed this consolation prize–at least when natural gas Continue Reading

The bill is coming due for the shale industry’s price war with OPEC. North American oil-and-gas companies have more than $200 billion of debt maturing over the next four years, Continue Reading

The shale energy revolution was not a feat of Big Oil. Independent exploration and production companies run by little-known executives fracked their way to a stunning rise in US oil Continue Reading

Shale drilling does not produce as much oil and gas as the industry promised, raising questions about the productivity, profitability and, ultimately, the longevity of the fracking boom. The Wall Continue Reading

Just as the U.S. shale industry is slowing down, oil production in other non-OPEC countries is on the rise. Output in U.S. shale grew substantially in 2019, although at a Continue Reading

The early promises of blockbuster shale wells that many fracking companies made to investors are looking even more suspect as the wells age. For years, frackers touted estimates of how Continue Reading

As the year draws to a close, the Brent and WTI oil benchmarks are trading at $66.55 and $61.54, respectively. From $60.65 to $64.50, investment bank and analyst projections for Continue Reading

US oil and gas executives expect WTI prices to average $58.54/b by the end of 2020, but most are also basing their capital spending on 2020 prices trading roughly 8% Continue Reading

The U.S. dropped eight oil rigs this week while the number of gas rigs remained flat. The U.S. dropped eight oil rigs this week while the number of gas rigs Continue Reading

America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns. Natural gas has long been a Continue Reading

If current crude flow data forms the basis of industry opinion, US shale oil production has shifted the tectonic plates of the market. Thanks largely to a massive output uptick Continue Reading

A bankruptcy boom has hit the oil and gas industry, and it’s just getting started. Investors have lost their appetite for shale, and energy debt has become among the least Continue Reading

Rigs fall 60% year over year.  Production inches up 7% Continued production in Oklahoma’s SCOOP-STACK demonstrates how tracking rig count to determine production swings has become an antiquated practice in Continue Reading

If current crude flow data forms the basis of industry opinion, US shale oil production has shifted the tectonic plates of the market. Thanks largely to a massive output uptick Continue Reading

America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns. Natural gas has long been a Continue Reading

Banks are cutting their lending to struggling U.S. shale drillers, another blow to an industry that has long been dealing with a questionable business model. Banks are restricting lending and Continue Reading

The slowdown in Permian Basin oil drilling and fracking is spreading to the lenders as austerity takes hold. The 63 banks and savings associations in the world’s biggest shale field Continue Reading

Banks have begun to tighten requirements on revolving lines of credit, an essential lifeline for smaller companies, as these institutions revise estimates on the value of some shale reserves held Continue Reading

The US oil and gas rig count increased by double digits this week, according to Baker Hughes, reaching 813 rigs after increasing by 14 for the week, according to Baker Continue Reading

The U.S. has reversed the trend of rig loss to add a net total of 14 rigs this week. Just ahead of the Christmas holiday, the U.S. tacks on 18 Continue Reading

Devon Energy Corp. has agreed to sell its Barnett Shale assets to Banpu Kalnin Ventures for $770 million. U.S. independent Devon Energy Corp. has agreed to sell its Barnett Shale Continue Reading

Perhaps it’s not evident to anyone who is not an oil-worker living in America’s biggest shale towns, but signs of the shale slowdown predicted by many analysts, and the EIA Continue Reading

The golden age of U.S. shale is far from over, with an expected slowdown in the Permian Basin likely to be temporary, according to the new U.S. Energy Secretary. The 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

Apache ( APA ) has made news in recent times largely for the potential of their Alpine High field in West Texas. The crash in everything shale currently has moved Continue Reading

Oil and gas’s love affair with digital technology is about to get serious. With digital tech’s proven capacity to contribute to the industry’s number-one priority in the post-2014 era—cost control—it’s Continue Reading

U.S. oil production in some of the most prolific shale basins is set to slow next month, according to new data from the Energy Information Administration (EIA) released on Monday. Continue Reading

The flaring and venting of natural gas in the U.S. continues to soar, reaching new record highs in recent months. The volume of gas that was burned or simply released Continue Reading

“It affects everybody’s bottom lines,” Mr. Daniels said. Fracking has made the U.S. the world’s top oil producer, buoyed the national economy and helped the country become a net exporter Continue Reading

The US oil and gas rig count was unchanged this week, according to Baker Hughes, staying at 799 rigs for the week, according to Baker Hughes, but the number of Continue Reading

The U.S. adds four oil rigs and drops four gas rigs to flatten the rig count for the week. The U.S. added four oil rigs this week, according to data Continue Reading

Without cuts, Bakken crude would have flat-lined North Dakota oil output was at record 1.52 million b/d in October State claims Bakken breakevens are $12/b, analysts disagree Washington — The Continue Reading

Newer wells in the Permian see their oil and gas production declining much faster than older wells, and operators will need to drill a large number of wells just to Continue Reading

Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels Continue Reading

The U.S. saw a sharp decline in support activities for mining in November, according to data released Friday from the U.S. Bureau of Labor Statistics (BLS). The BLS, which categorizes Continue Reading

Halliburton has confirmed job cuts in Duncan, Oklahoma, just days after closing a facility in El Reno, Oklahoma. Halliburton has confirmed job cuts in Duncan, Oklahoma, just days after closing Continue Reading