Oilfield services giant Halliburton has laid off 650 employees in Grand Junction. Halliburton Company has laid off 650 employees in the U.S., the Houston-based oilfield services giant confirmed Wednesday. The Continue Reading
The prospect of Elizabeth Warren becoming the 2020 Democratic presidential nominee, or the 46th president of the U.S., has energy investors worrying about risks to hydraulic fracturing. “What happens if Continue Reading
The Permian Basin helps to dampen the effects of geopolitical and domestic impacts affecting the oil market. For the oil market, the Permian Basin acts like a shock absorber. That Continue Reading
In a new in-depth study, Rystad Energy estimates that as much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s. Service Continue Reading
New Mexico may be starting to surpass West Texas as the main focus of shale drilling, with rigs decamping from familiar areas in the Permian to other less drilled locales. Continue Reading
Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. “Exxon is clearly on Continue Reading
Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. Wood Mackenzie has revealed that it is bullish on ExxonMobil’s Permian growth campaign. “Exxon is clearly on Continue Reading
The growth in U.S. shale production is grinding to a halt as low prices put drillers in a financial vice. The slowdown has been unfolding for much of 2019, but Continue Reading
The US oil and gas rig count fell for the seventh week in a row this week, decreasing by 5, according to Baker Hughes, but US oil companies are still Continue Reading
As dark clouds gather on the financial horizon, big trouble is brewing in the U.S. Shale Oil Industry. While most Americans are focused on the Mainstream media’s coverage of the Continue Reading
Newly commissioned Permian Basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia. The U.S. Census Bureau said exports Continue Reading
U.S. oil and gas producer EP Energy Corporation is the latest in a number of energy companies who have filed for bankruptcy this year. U.S. oil and gas producer EP Continue Reading
This week’s losses places the U.S.’ number of active rigs at 855. The U.S. shed three oil rigs and two gas rigs to total a net loss of five rigs Continue Reading
Chevron Corporation on Thursday announced that it would curb its greenhouse gas emissions from its oil production, the company said on Thursday, as the climate pressure on oil majors intensify, Continue Reading
The Permian Basin in Texas and New Mexico is dotted with drilling rigs, crisscrossed by pipelines and produces far more oil than any other part of the U.S. Yet its Continue Reading
U.S. oil production fell in July, another worrying sign for the shale industry. The latest EIA data shows that oil output fell sharply in July, dipping by 276,000 barrels per Continue Reading
State energy giant PetroChina has announced new additions of almost 741 billion cubic meters to its shale gas reserves in the Sichuan province as well as certified reserves of 358 Continue Reading
Productivity gains have caused record production, falling prices and a year-long decline in drilling and well completions. U.S. rig numbers at have fallen to their lowest since February 2018. According Continue Reading
Unlike several years ago, when shale production fell due to a global price collapse, the slowdown this year is driven partly by core operational issues, including wells producing less than Continue Reading
Despite years of burning through cash, and the deep sense of anxiety within the shale industry itself, Goldman Sachs says the current down market represents a buying opportunity. Through August Continue Reading
The U.S. dropped six oil rigs and two gas rigs for a net loss of eight rigs this week, according to Baker Hughes, a GE Company. The U.S. dropped six Continue Reading
Has U.S. shale oil production stalled? Well, it seems so. After experiencing significant growth in 2017 and 2018, U.S. shale production in the first five months of this year has Continue Reading
The pressures are due to companies struggling to service debt and secure new funding, as investors question the shale business model. Many drillers financed production growth by becoming deeply indebted, Continue Reading
Has U.S. shale oil production stalled? Well, it seems so. After experiencing significant growth in 2017 and 2018, U.S. shale production in the first five months of this year has Continue Reading
After years of improvements in drilling techniques and impressive “efficiency gains,” there is now evidence that the U.S. shale industry is reaching the end of the road on well productivity. Continue Reading
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by Continue Reading
Recent bankruptcies affecting shale companies does not indicate future doom for the industry, according to Rystad Energy. While news of bankruptcies among U.S. onshore exploration and production (E&P) companies seems Continue Reading
A wave of oil and gas wells abandoned by bankrupted drillers could cost the U.S. government hundreds of millions of dollars. A new report from the U.S. Government Accountability Office Continue Reading
Despite a wave of financial adversity that has tormented US onshore E&P companies lately, Rystad Energy does not view this as a harbinger of doom for the shale industry going Continue Reading
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row, putting the rig count down for an eighth consecutive month as Continue Reading
The US oil and gas rig count fell by 8 this week, according to Baker Hughes, adding to months of losses, as US oil production falls to lowest levels since Continue Reading
The U.S. dropped five oil rigs and three gas rigs for a net loss of eight rigs this week. The U.S. dropped five oil rigs this week and three gas Continue Reading
U.S. shale producers are poised to further trim spending this year, executives at companies that provide drilling and hydraulic fracturing services warned this week, as several took steps to idle Continue Reading
Summary of Weekly Petroleum Data for the week ending July 19, 2019 U.S. crude oil refinery inputs averaged 17.0 million barrels per day during the week ending July 19, 2019, Continue Reading
US tight oil legacy decline can be estimated by assuming no future tight oil completions in the various US tight oil basins. The charts below illustrate such an estimate for Continue Reading
America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon. (Bloomberg) — America’s Continue Reading
Operators in the Permian have been failing to report the completion of some oil wells, according to one data analytics company. Hydraulic fracturing (fracking) activity was underreported by 21 percent Continue Reading
Halliburton’s second quarter earnings are a mixed bag as the oilfield services company sees profits plummet while international operations increase revenues. Halliburton Company saw its second quarter profits take a Continue Reading
With financial stress setting in for U.S. shale companies, some are trying to drill their way out of the problem, while others are hoping to boost profitability by cutting costs Continue Reading
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as drillers follow through on plans to cut spending with oil Continue Reading
The US oil and gas rig count fell by 4 this week, according to Baker Hughes, after a string of losses that have stripped away 36 rigs since the beginning Continue Reading
Packers Plus Energy Services, a company built on the North American shale oil boom, is turning to the Middle East to weather a new round of spending cuts by producers Continue Reading
These interactive presentations contain the latest oil & gas production data from 111,702 horizontal wells in 12 US states, through March 2019. Cumulative oil and gas production from these wells Continue Reading
Summary of Weekly Petroleum Data for the week ending July 12, 2019 U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending July 12, 2019, Continue Reading
A pipeline company is fighting the practice of flaring gas in Texas, threatening to slow the pace of oil production. Flaring gas has become an epidemic in Texas. Permian drillers Continue Reading
Some companies may not escape financial trouble this year Receive daily email alerts, subscriber notes & personalize your experience. Register Now To lower costs, some companies have struck merger deals Continue Reading
Law expected to disrupt 150,000-200,000 b/d of crude-by-rail movement Petition may start state, federal jurisdictional fight over crude transport Nearly 16 million barrels of Bakken crude shipped through Washington in Continue Reading
The engine of America’s shale boom is beginning to sputter. Slowing Growth The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing Continue Reading
Private equity has been ramping up its investment in Permian Basin oil and natural gas production, but the old strategy of selling out after a few years is no more. 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
