U.S. oil production forecasts are being revised upwards despite labor and supply chain constraints as higher prices spur more drilling and well completion activity, according to industry experts. Calls for Continue Reading
Permian at 337 rigs, still 90+ shy of pre-pandemic levels But most basins lost rigs or stood still on week March US shale permits at a monthly high The US Continue Reading
U.S. energy firms last week added oil and natural gas rigs for a third week in a row as the federal government seeks more production to help its allies wean Continue Reading
The number of total active drilling rigs in the United States rose by 16 this week. The total rig count increased to 689 this week—257 rigs higher than the rig Continue Reading
The number of total active drilling rigs in the United States rose by 3 this week. Permian rig count rose by 4 this week. Gas rig count rose by 1 Continue Reading
Oil companies are receiving major criticism over recent profits as gasoline prices continue to soar. The truth, however, is that the number of rigs drilling for oil in the United Continue Reading
WTI Cushing trading near $100/b Rig count hits 30-month high at 45 Gas production at 25-month high Surging oil prices fueled by Russia’s ongoing war in Ukraine have boosted drilling Continue Reading
Jones Act laws restrict USGC-to-USAC flows, support rail alternatives A restart of St. Croix refinery would boost gasoline, diesel supply US Atlantic Coast refiners could boost volumes of Bakken crude Continue Reading
The number of total active drilling rigs in the United States rose by 3 this week. Permian rig count rose by 4 this week. Gas rig count rose by 1 Continue Reading
War in Ukraine affects steel goods exports from both Ukraine and Russia. Shortage of steel tubing for wells has become the latest production constraint for U.S. shale. For U.S. oil Continue Reading
The U.S. shale industry is racing to ramp up production, “but it won’t be quick.” Supply chain bottlenecks are putting a cap on short term output growth. At this rate, Continue Reading
Last year, bankruptcies in the U.S. shale patch hit record levels. Now, dozens of companies have been successfully emerging from Chapter 11 bankruptcy protection, with M&A their preferred modus operandi. Continue Reading
Oil prices are sitting well above the $100 mark and show no sign of falling back any time soon, but that doesn’t mean that a wave of new production will Continue Reading
Shortages of staff and supplies are weighing on the recovery of US oilfields, derailing hopes that Texas drillers could unleash gushers of crude to help bring soaring global prices under Continue Reading
The number of total active drilling rigs in the United States rose by 7 this week, as WTI trades at more than $113 per barrel. The total rig count increased Continue Reading
The West Texas Intermediate (WTI) oil price companies need to profitably drill a new well in the U.S. is increasing, according to the Dallas Fed Energy Survey. In the organization’s Continue Reading
Startlingly large amounts of methane are leaking from wells and pipelines in New Mexico, according to a new analysis of aerial data, suggesting that the oil and gas industry may Continue Reading
Highlights Eagle Ford count is 68 for the week, up 2 Total rig count sees first loss since end-2021 Pace of rig adds in 2022 at about 20/month The US Continue Reading
U.S. energy firms this week reduced the number of oil rigs active in the United States even as crude prices continued to trade over $100 a barrel after Russia’s invasion Continue Reading
Sky-high oil prices have left both America’s oil industry and its President pointing fingers at one another. Biden has repeatedly called on the oil industry to increase production, but the Continue Reading
Active rig counts in US basins continue to grow with operators adding 11 for the week ending March 16 and 75 year to date, Enverus data showed, as the war Continue Reading
Upstream M&A deal flow could hit the highest in years in 2022 if commodity prices hold steady. Companies like Continental Resources, Pioneer Natural Resources, Diamondback Energy, Devon Energy, and EQT Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 70,000 barrels per day (bpd) to a record 5.208 million Continue Reading
Permian oil volumes hitting record highs Natural gas growth outpacing crude DUC count continues to deplete The US shale oil production forecast was revised downward in March by 116,000 b/d, Continue Reading
U.S. energy firms this week added oil and natural gas rigs for the ninth time in 10 weeks after Russia’s invasion of Ukraine drove crude prices to their highest since Continue Reading
Eagle Ford at 67 rigs, up 4 on week SCOOP-STACK rises by 2 to 45 US production likely won’t grow quickly The US oil and gas rig count jumped by Continue Reading
Big public shale drillers aren’t rushing to boost production following the pandemic. Small, privately held shale drillers are increasingly drilling activity as they see a chance to significantly ramp up Continue Reading
U.S. energy firms this week cut the number oil rigs even as Russia’s invasion of Ukraine drove crude prices to their highest since 2008. U.S. oil rigs fell three to Continue Reading
Permian now numbers 320 rigs, up 4 Basin is still 100-plus off pre-pandemic highs Inflation bites into drilling, completion budgets The US oil and gas rig count grew four in Continue Reading
America’s shale industry is looking to ramp up production, but it is facing two major hurdles that could curb its trajectory. Supply chain issues, runaway inflation and a growing labor Continue Reading
The number of active drilling rigs in the United States rose by 5 this week—the 18 th straight weekly increase to the number of oil and gas rigs in the Continue Reading
Much of the information for this post comes from data at shaleprofile , and assessments by the USGS . In addition a paper published in Jan 2022 by Wardana Saputra Continue Reading
Analysts are predicting higher-for-longer oil prices, and it’s becoming a major problem for Biden. The consequences of underinvestment on a global level are only beginning to be felt now. Despite Continue Reading
The Oklahoma City home of Devon Energy, which has raised its dividend to a record level. America’s largest frackers are reporting huge profits but plan to keep oil production in Continue Reading
America’s largest frackers are reporting huge profits but plan to keep oil production in low gear this year, adhering to an agreement with Wall Street, even as prices approach the $100-a-barrel Continue Reading
As oil prices have risen, observers that expected to see U.S. shale growth explode have been bitterly disappointed. According to executives at some of the biggest public shale firms, oil Continue Reading
The number of active oil and gas rigs in the United States climbed for a 17 th straight week, with both natural gas and oil rigs increasing. The number of Continue Reading
The U.S. shale patch is experiencing its best-ever economics this year thanks to a combination of disciplined spending and high oil prices. The Permian basin is still leading U.S. shale Continue Reading
Earlier this month, the Energy Information Administration reported that oil output in the Permian shale play had hit a record, and it was going to continue growing. And now, the Continue Reading
U.S. shale drillers are looking to boost production in the short term Industry data suggests that well depletion is advancing Drillers remain upbeat about the short term forecast for shale Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row for the first time since November as crude prices extended their rally Continue Reading
Crude prices rallied on Friday morning as a result of small outages in America’s largest shale play and ongoing political tensions between Russia and Ukraine. As if explosions in Nigeria Continue Reading
The number of active drilling rigs in the United States rose by 3 this week—the 15 th straight weekly increase to the number of oil and gas rigs in the Continue Reading
ConocoPhillips said traders should be worried about strong oil production growth coming out of the U.S. this year and in 2023, potentially echoing the supply surges of the past decade. Continue Reading
The end of the boom is in sight for America’s fracking companies. Less than 3½ years after the shale revolution made the U.S. the world’s largest oil producer, companies in the oil Continue Reading
U.S. oil production growth picked up the pace in the fourth quarter. A big part of the higher capital spending in the U.S. oil industry will be because of cost Continue Reading
Permian output was 460,000 boe/d in 2022 Capex for 2022 will be $21 billion-$24 billion 2022 production should be up about 2%: CEO ExxonMobil sees its US Permian Basin production Continue Reading
Highlights Could prove bullish in short term for AECO N.D. producers continue to lower flared volumes North Dakota gas production appears poised to grow with the approval of WBI’s North Continue Reading
Surge in lateral well length is driving average well productivity to new heights in the Permian. New wells are expected to break the 1,000 boepd thresholds in 2022. The total Continue Reading
U.S. energy firms added oil and natural gas rigs for a record 18th month in a row after boosting the rig count again this week as oil prices soared to Continue Reading
