Has OPEC Underestimated U.S. Shale Once Again?
The U.S. shale cowboys are back on their horses and leading a strong recovery in the oil patch that is not expected to falter even as WTI prices dropped last Continue Reading
Oil at $40 No Problem as U.S. Drillers Snub OPEC With Hedges
OPEC’s worst enemy isn’t U.S. shale drillers. It’s the hedges propping them up. American oil explorers who survived the worst of the 2014-2016 market rout are shrugging off the 14 Continue Reading
U.S. shale oil output to soar in April, Permian to hit fresh record
U.S. shale oil production in April was set for its biggest monthly increase since October as output in the Permian Basin, America’s fastest growing shale oil region, was expected to Continue Reading
U.S. Shale Faces A Workforce Shortage
A problem for the U.S. shale oil and gas industry that analysts and observers have warned about for a long time has materialized: there is a shortage of workers. According Continue Reading
Russian oil major says U.S. shale growth imperils OPEC deal
A recovery in U.S. oil output may deter OPEC and non-OPEC producers from extending production cuts beyond June and might lead to a new price war, Russia’s top oil major Continue Reading
Can The Permian Outgrow The Giant Saudi Ghawar Field?
When the Permian Basin in West Texas—which has been pumping oil for nearly a century—was fueling the U.S. and Allied forces in World War II, currently the world’s biggest conventional Continue Reading
Marathon Oil to buy Permian acreage for $1.1 billion
Marathon Oil Corp. has agreed to acquire 70,000 net surface acres in the Permian basin from BC Operating Inc., Midland, Tex., and other entities for $1.1 billion in cash.The deal, Continue Reading
Bakken January Production Data
North Dakota has published January production data for the Bakken and for all North Dakota . Bakken production was up 37,617 bpd to 932,817 bpd while all North Dakota’s production Continue Reading
CERAWeek: North American producers find adaptation key in challenging environment
North American producers such as EQT and BHP Billiton have had to adjust strategies to continue operating in challenging economic times, squeezing out operational efficiencies or shifting focus to concentrate Continue Reading
Harold Hamm: U.S. Shale Spending Binge Could Destroy Oil Market
In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market. Continue Reading