Category: Shale Oil

The U.S. idled five oil rigs and added two gas rigs for a net loss of three rigs this week. The U.S. idled five oil rigs and added two gas Continue Reading

If OPEC and Russia don’t decide on deeper cuts in oil production for 2020, it could cause oil prices to drop. But the production outlook for North American shale will Continue Reading

A seasonal increase in the number of US shale basin-based frac spreads has not materialized. Back in September, Rigzone reported that a firm that gauges the U.S. upstream industry’s health Continue Reading

U.S. shale oil production will continue growing even if international prices fall, says Rystad Energy. The Norwegian energy consultancy said in a new report that despite a decline in the Continue Reading

The number of active US oil and gas rigs tumbled by four to 691 this week, the lowest count since March 2017, with a slowdown in the prolific Permian Basin Continue Reading

The financial struggles of the U.S. shale industry are becoming increasingly hard to ignore, but drillers in Appalachia are in particularly bad shape. The Permian has recently seen job losses Continue Reading

The Bone Spring formation has been one of the most prolific shale plays in the Permian in recent years and continues to drive production growth The Bone Spring formation has Continue Reading

Oilfield services provider Halliburton has notified the Oklahoma Office of Workforce Development that it would dismiss 800 employees, the Oklahoma agency’s spokesman David Crow tells The Associated Press , as Continue Reading

Shale largest area of oil market uncertainty $65/b WTI needed to lift sentiment Majors’ shale expansion brings no quick fix London — The US shale boom is stalling as productivity Continue Reading

U.S. oil producers could expand daily output by 1 million barrels next year, or by as little as 100,000 barrels, with the wide gap creating huge uncertainty as OPEC officials Continue Reading

While acknowledging that U.S. shale growth is slowing down, analysts and experts continue to predict that total American crude oil production will rise by around 1 million barrels per day Continue Reading

Output growing at less than half the year-ago pace ‘Peak growth’ may be near Output growth in Texas, North Dakota at lowest rate in two years Year-on-year growth in US Continue Reading

After a decade of unprecedented growth and seemingly endless investments, the writing is now on the wall: the Great American Shale Boom is slowing down and this could have some Continue Reading

All of the oil production data for the states comes from the EIA?s Petroleum Supply Monthly . The charts below are updated to September 2019 for the largest US oil Continue Reading

The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling by 1 rig for the week. For oil rigs, this week marks the Continue Reading

The U.S. saw a net decrease of one rig this week. The U.S. idled three oil rigs this week and added two gas rigs for a net loss of one Continue Reading

In 2019 through third quarter, 32 oil and gas drillers have filed for bankruptcy, according to Haynes and Boone . Since the end of September, a gaggle of other oil Continue Reading

In the discussion here I use the term net volume to refer to the volume of prospective rock that might be developed to produce tight oil. For each bench of Continue Reading

It isn’t just Appalachian shale drillers that are swamping the natural-gas market. Chicken slaughterhouses, pig farms, expired yogurt and leftover bits from your last meal are contributing to the glut. Continue Reading

The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling another 3 rigs for the week, according to Baker Hughes. For oil rigs, Continue Reading

Frac sand supplier U.S. Silica Holdings, Inc. has cut 230 employees as it grapples with the current challenges in its energy markets. Frac sand supplier U.S. Silica Holdings, Inc. has Continue Reading

Two brothers hit pay dirt during the shale boom when they sold their Texas fracking company in 2011 for $3.5 billion. But many of their more recent investments in the Continue Reading

For the U.S. shale industry, the third quarter was more of the same: new record highs in oil production, but another quarter of negative cash flow. A sample of 38 Continue Reading

North American energy companies kept the oil and gas flowing last quarter, but once again failed to produce cash flows to match. A cross-section of 38 publicly traded oil and Continue Reading

California Governor Gavin Newsom just dealt a blow to the oil industry, placing a temporary moratorium on new fracking permits in the state until scientists complete an independent review of Continue Reading

Driven by the U.S. shale boom in the Permian basin, personal income in Midland County, Texas, grew by the highest percentage—17.5 percent—of all metropolitan counties in the United States last Continue Reading

North Dakota’s oil output fell to 1.44 million b/d in September, down about 37,000 b/d from August’s record-setting average, the North Dakota Pipeline Authority reported Tuesday. In an interview with Continue Reading

Growth in the U.S. shale industry is dramatically slowing down, with cash-strapped drillers slashing spending and scrapping rigs. At the same time, the oil majors are consolidating their position and 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

Permian to lead growth with 4.73 million b/d next month Eagle Ford production to continue decline Washington — Despite expectations of a drilling slowdown, the US Energy Information Administration on Continue Reading

For a second consecutive year, U.S. shale producers are finding themselves cutting capital spending for the following year, as investors continue to demand returns from the frenzied drilling over the Continue Reading

Fund manager Paulson & Co. Inc, a shareholder of Callon Petroleum, is dropping its opposition to a merger between Callon and Carrizo Oil & Gas that could be the start Continue Reading

The Great U.S. Shale Industry Machine is finally running out of steam. What looked very promising for the shale industry in 2018 seems incredibly bleak this year. And, if the Continue Reading

The U.S. dropped 10 oil rigs and one gas rig for a net loss of 11 rigs this week, according to data from Baker Hughes Company. For the fifth week Continue Reading

U.S. shale companies are set to grow their 2019 oil production by 16%, thanks to impressive execution. While there’s been much discussion this year around whether the U.S. shale boom Continue Reading

Earlier this summer, it seemed that U.S. shale oil growth was beginning to slow. But then production growth picked back up headed into the fall, and is presently at 12.6 Continue Reading

On today’s Platts Capitol Crude, Lynn Helms, director of the North Dakota Department of Mineral Resources , says Bakken oil output will continue to break records into 2020, but enforcement Continue Reading

 Spain’s Repsol has agreed to buy Equinor’s equity position in US Eagle Ford shale basin for $325 million in a deal giving it 100% control and operatorship of the shale Continue Reading

Two shale pioneers think the days of relentless production growth from US unconventional oil fields are ending. (Bloomberg) — The days of relentless production growth from U.S. shale oil fields Continue Reading

A few high-profile shale executives say the glory days of shale drilling are over. In a round of earnings calls, the financial results were mixed. A few companies beat earnings Continue Reading

There’s trouble brewing in the U.S. largest oil company while most investors remain in the dark. ExxonMobil added a record number of wells in the Permian during the first three Continue Reading

Exxon and Chevron believe that a ban on fracking will only shift economic benefits out of the U.S. and possibly raise the price of oil, the two largest U.S. oil Continue Reading

ExxonMobil has warned that energy investment will shift out of the US if the government bans fracking, the drilling technique that transformed oil production but is opposed by three Democratic Continue Reading