Category: Shale Oil

While the top Democratic presidential contenders call for a ban on new drilling on federal land , Democrats in power in some of the western oil states argue that it Continue Reading

The nation dropped five oil rigs and three gas rigs for a net loss of eight rigs, according to weekly data from Baker Hughes Co. The U.S. rig count has Continue Reading

Struggling oilfield services company Weatherford International had a loss of $821 million in third quarter of 2019. Struggling oilfield services company Weatherford International had a loss of $821 million in Continue Reading

 In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way Continue Reading

It’s that time of the year again, the final OPEC+ meeting of 2019 has been scheduled and is ready to take place in December. Geopolitical tensions in the Middle East Continue Reading

The downturn in shale drilling has been so steep and brisk that oilfield companies are taking the unprecedented step of scrapping entire fleets of fracking gear. (Bloomberg) — The downturn Continue Reading

Eyeing more restrictions on drilling following the 2020 presidential election, some U.S. oil and gas companies may accelerate fracking on public lands over the next year. Concho Resources said that Continue Reading

In the first look at a series of earnings reports in the energy sector from the third quarter, there is a bit of a mixed picture offered up on the Continue Reading

A pipeline project that would transport non-potable reclaimed water from Lubbock, Texas, to industrial customers in the Permian Basin has cleared an important hurdle. A pipeline project that would transport Continue Reading

Third-quarter earnings in the oil and gas industry have begun to trickle in at a time when investors have the lowest confidence and interest in U.S. shale stocks in years. Continue Reading

Some of the largest banks financing U.S. oil and gas drillers have recently reduced their expectations for oil and natural gas prices, determining the value of companies’ reserves and loans Continue Reading

A lot of big names will report third quarter earnings this week, and the results are expected to be worse than the same period in 2018. The timing comes as Continue Reading

Texas’ economy is perhaps the most vulnerable to oil price swings given its leading role in the country’s oil industry. Recently, as prices have remained low, talk has begun about Continue Reading

Applications for permits to drill on federal and Indian lands have increased by more than 300% over the past two years with New Mexico and Wyoming receiving most of the Continue Reading

Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg Continue Reading

 Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations.  Major shale Continue Reading

‘Significant production slowdown’ is all around the headlines about the U.S. shale patch these days. Yet, the headlines have often missed one growing problem in the U.S. oil industry—the abandoned, Continue Reading

The US oil and gas rig count fell sharply this week, according to Baker Hughes, with a drop of 25 rigs for the week. This week marks nine decreases out Continue Reading

The Permian now accounts for more than half of the nation’s total number of active rigs. The U.S. has seen its rig count decline for the second week consecutive week, Continue Reading

Increasingly, U.S. shale firms appear unable to pay back investors for the money borrowed to fuel the last decade of the fracking boom. In a similar vein, those companies also Continue Reading

Through its analysis of more than 80,000 wells drilled in the Permian and Eagle Ford over the last decade, Deloitte determined the shale industry can save billions of dollars. Well Continue Reading

The money pipeline is running dry for large portions of the US shale oil sector, tipping drillers into bankruptcy and threatening the industry’s breathtaking growth in oil production. Spooked by Continue Reading

America’s shale boom got the world accustomed to soaring production. Now growth has slowed, and a cloud has formed over the industry. Hydraulic fracturing pushed the U.S. closer to its Continue Reading

The oilfield services company vows to “streamline operations” in the fourth quarter to generate $300 million in cost savings. Halliburton Company intends to cut costs to the tune of $300 Continue Reading

Goldman Sachs wound back its forecast for growth in U.S. shale output in 2020, and slightly reduced its outlook for 2020 global oil demand growth. The brokerage said it expects Continue Reading

The first and third-largest oilfield service companies in the world saw their earnings hit in the third quarter due to the slowdown in U.S. shale drilling. Schlumberger took a $12.7 Continue Reading

Oil-field services company Halliburton Co. posted weaker quarterly earnings Monday as revenue in the company’s North America business slumped, but cost cuts and a better-than-expected outlook pushed shares higher. Companies Continue Reading

Raisa Energy LLC, a Denver-based oil-and-gas company backed by private equity firm EnCap Investments LP, closed the first such offering in September and several others are planned before the end Continue Reading

The US oil and gas rig count fell this week, according to Baker Hughes, decreasing by 5 for the week, according to Baker Hughes. This week marks eight decreases in Continue Reading

Affects permits within 2,000 feet of occupied structure Decision follows release of study Denver — Colorado oil and gas regulators announced drilling sites in the Denver-Julesburg Basin located within 2,000 Continue Reading

The U.S. dropped six gas rigs and added one oil rig for a net loss of five rigs this week, according to Baker Hughes Co. The U.S. dropped six gas Continue Reading

The world’s largest oilfield services provider, Schlumberger ( NYSE:SLB ), reported on Friday a net loss of US$11.38 billion for the third quarter, compared to a US$644-million profit for Q3 Continue Reading

Wall Street guessed that writedowns from Schlumberger Ltd. were coming, but some analysts were taken aback by the sheer size of the $12.7 billion in pretax charges reported by the Continue Reading

U.S. oil production growth has slammed on the breaks, as low prices and the loss of access to capital markets has forced a slowdown in drilling. Third quarter earnings reports Continue Reading

In 2016, lower oil prices led to an overall drop in production for shale companies, which use horizontal drilling and fracking to extract oil and gas from shale formations such Continue Reading

This week, the Wall Street Journal highlighted that the U.S. oil and gas shale industry, already struggling financially, is now facing “core operational issues.” That should be a truly frightening Continue Reading

Crude oil production from the seven major shale plays in the United States could hit 8.971 million bpd next month, growing by 58,000 barrels per day, the Energy Information Administration Continue Reading

When earlier this year Whiting Petroleum announced it would cut a third of its workforce, the news did not make a huge splash as it was lost among other cost-cutting Continue Reading

Johnny Vega (left), the president and CEO of Mico Services, has equipment lying idle that could generate $700,000 per month because he says he cannot find enough workers. Reuters New 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

Waterborne crude exports from Corpus Christi, TX, reached a record high of 11.379mn bbls, or 1.626mn bpd, in week ending September 27, buoyed by increased flows into the port from Continue Reading

The US oil and gas rig count rose for the first time in eight weeks, according to Baker Hughes, increasing by just 1 for the week, according to Baker Hughes, Continue Reading

Oil and gas firms in the U.S.’ 10th District saw a moderate decrease in activity for the third quarter of 2019, according to results of the Kansas City Fed’s 3Q Continue Reading

Halliburton announced that it would lay off 650 workers across four U.S. states due to the slowdown in shale drilling. The oilfield services giant blamed “local market conditions” for slashing Continue Reading

U.S. shale oil plays are “riding the edge of profitability” at current prices and the industry faces a significant slowdown in fracking activity if crude falls below $50 a barrel Continue Reading