Is the mighty Bakken Shale Oil Field finally peaking? Well, according to the data from the folks at the North Dakota Department of Mineral Resources, oil production in the Bakken Continue Reading
These interactive presentations contain the latest oil & gas production data from all 14,703 horizontal wells in North Dakota that started production from 2005 onward, through April. Oil production in Continue Reading
Steve Schlotterbeck, who led drilling company EQT as it expanded to become the nation’s largest producer of natural gas in 2017, arrived at a petrochemical industry conference in Pittsburgh Friday morning with a blunt message Continue Reading
Fracking has been an “unmitigated disaster” for shale companies themselves, according to a prominent former shale executive. “The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold Continue Reading
New tight oil estimates were recently released by the EIA. The chart below compares estimates from Dec 2018 to May 2019, where the Dec 2018 estimate is that estimate with Continue Reading
U.S. energy firms increased the number of oil rigs operating for the first time in the past three weeks as U.S. crude futures soared around 10% this week. Big energy Continue Reading
The nation’s addition of one oil rig was offset by a loss of four gas rigs this week. The United States gained one oil rig and lost four gas rigs Continue Reading
Oil production in the US state of North Dakota has increased by more than a third – to 1.4m barrels a day – two years after a controversial pipeline Continue Reading
After several years in the doldrums, oilfield service companies are beginning to raise prices for their products and services, according to Rystad Energy. “Oil and gas investments are on the Continue Reading
Highlights US oil and gas rig count continues weekly seesaw Permian had biggest loss this week, down 14 to 434 But Permian rigs should increase later this year Houston — Continue Reading
North Dakota set an oil production record in January this year, and crude output in the state home to the Bakken shale play held close to that record level in Continue Reading
Few analysts realize that for the past decade, the global economy has been propped up by the U.S. Shale Oil Ponzi Scheme. Without the huge increase in U.S. shale oil Continue Reading
Permian oil production is forecasted to hit 4.226 million barrels per day next month. The U.S. Energy Information Administration (EIA) has forecasted that Permian oil production will hit 4.226 million Continue Reading
Houston-based Lime Rock Resources will purchase oil and natural gas properties in Oklahoma from BP America Production Company. Houston-based Lime Rock Resources will purchase oil and natural gas properties in Continue Reading
U.S. oil output from seven major shale formations is expected to rise by about 70,000 barrels per day (bpd) in July to a record 8.52 million bpd, the U.S. Energy 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
The frenzied Permania that had oil and gas companies rushing to the O&G hotspot may be on the outs, but production in the industry’s number one basin has not, according Continue Reading
Just three years ago it was the new hot spot in U.S. shale, the “Permian Jr.”, and the place where many pinned their hopes for the next oil boom. Now, Continue Reading
Russia’s Gazprom Neft expects lifting costs at Bazhenov formation, the world’s largest shale oil resource, to gradually fall and reach an acceptable level for viable production by 2022-2023, a top Continue Reading
The the number of active oil and gas rigs in the United States fell again this week according to Baker Hughes, as the overall rig count reaches the lowest point Continue Reading
It promised to be the next great shale play, but an oil-and-gas-rich area of central and south Oklahoma has confounded many of the producers lured there, with one of its Continue Reading
Rising shale oil production in the United States that drove gas flaring up 48 percent in 2018 also pushed up the global total by 3 percent to 145 billion cubic Continue Reading
U.S. crude oil stockpiles rose unexpectedly for a second straight week, despite the highest refining rates in six months and lower imports and production, the Energy Information Administration said on Continue Reading
Brent crude oil spot prices are expected to average $67/bbl this year, which is $3/bbl lower than forecast last month in the US Energy Information Administration’s Short-Term Energy Outlook. In this Continue Reading
U.S. crude oil production will rise 1.36 million barrels per day to 12.32 million bpd in 2019, 140,000 bpd less than previously forecast, according to a monthly Energy Department report Continue Reading
The shale revolution powered U.S. oil and gas production in 2018 to the largest annual increases ever recorded by any country, according to energy giant BP PLC. Surging global energy Continue Reading
U.S. natural gas and crude oil production increased last year at the fastest pace ever for a single country. (Bloomberg) — U.S. natural gas and crude oil production increased last Continue Reading
Analysts were split Monday whether this week’s US Energy Information Administration data would show a draw in crude inventories for the week ending June 7. While refinery runs are expected Continue Reading
Lower oil prices could drag down U.S. shale drillers at a time when their finances are already looking shaky. But the impact on oil production growth is still murky. WTI Continue Reading
Colombia’s top administrative court on Friday began hearings that could be long and contentious about proposals to drill for oil using the technique known as fracking, hailed for sharply boosting Continue Reading
U.S. energy firms this week cut the oil rig count to the lowest since February 2018 as drillers follow through on plans to reduce spending with crude prices collapsing to Continue Reading
Shale drillers are scrambling to raise cash as financing from Wall Street dries up. The companies behind the U.S. fracking boom are turning to asset sales, drilling partnerships and other Continue Reading
The number of active oil and gas rigs in the United States fell this week according to Baker Hughes, as the overall rig count reaches the lowest point since February Continue Reading
Oxy is aiming for billions of dollars’ worth of cost savings and productivity gains from the Anadarko deal, but many investors remain skeptical. Occidental Petroleum, ranked 167 in Fortune 500, Continue Reading
The U.S. experienced a decline of 11 oil rigs and addition of two gas rigs for a net loss of nine rigs this week. The U.S. dropped eleven oil rigs Continue Reading
Texas drillers may have found a solution to the stubborn natural gas glut that’s forced them to either burn it off into the air, or pay others to take it Continue Reading
(Reuters) – U.S. energy firms this week cut the oil rig count to the lowest since February 2018 as drillers follow through on plans to reduce spending with crude prices Continue Reading
US oil production keeps accelerating towards new highs. New records are expected both when the final numbers for May emerge and at the end of the year. Rystad Energy is Continue Reading
Rystad Energy forecasts new all-time highs for U.S. crude output in May 2019 and the end of the year. Already off to an amazing start in 2019, U.S. oil production Continue Reading
Oil prices are off more about 20 percent in the last two weeks on growing fears of a brewing economic recession. Commodities of all types have been hammered by the Continue Reading
Red Ink Keeps Flowing for U.S. Fracking Sector Disappointing Results for U.S. Frackers Continued Through Q1 2019 Another quarter, another gusher of red ink. Despite investors’ growing demands that oil Continue Reading
Oil traders and analysts closely watching weekly U.S. inventory figures have been scratching their heads in the last few weeks wondering one thing: Where are the missing barrels? U.S. Energy Continue Reading
The United States may now be the world’s biggest crude producer, but the oil being produced in its prolific Permian basin is increasingly too light in density for domestic refiners Continue Reading
A pipeline capacity shortage caused natural gas flaring and venting to skyrocket to a record high in the first quarter of the year in the Permian, Rystad Energy said in Continue Reading
America’s largest oil hub in Cushing, Oklahoma, is growing even as producers and traders look to move surging West Texas production to the coast for export. The U.S. petroleum industry Continue Reading
In its relentless pursuit of oil, the shale industry continues to burn more and more gas into the air. The rate of flaring in the Permian basin reached a record Continue Reading
Last month, the world’s fourth-largest oilfield services company, Weatherford, said that it would begin financial restructuring to significantly cut its long-term debt of over US$7 billion. Weatherford expects the restructuring Continue Reading
The oil-field services sector is in the tough position of being the first to get hurt when oil prices plunge and the last to profit when a recovery finally happens. Continue Reading
The flaring of natural gas in West Texas’ booming Permian Basin has exceeded previous estimates and is now contributing to far more “widespread waste” and pollution than ever before, according Continue Reading
Highlights Commerce City eyes six-month moratorium Weld County remains largely unscathed Denver — Seven municipalities and one county scattered around the Denver-Julesburg Basin had passed some sort of drilling or Continue Reading
