Category: Shale Oil

A ride through the Permian Basin’s little-drilled southwest corner looks a bit like the rest of the shale patch. Mesquite dots the dry landscape, and bumpy oilfield roads link well 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

US oil production from the top seven major shale plays is set to reach new record heights in June, according to the US Energy Information Administration’s latest edition of its Continue Reading

One of the refrains I often hear about the oil industry — particularly on those focused-on shale and tight oil — is that it collectively doesn’t make any money. There Continue Reading

Chevron Chief Executive Michael Wirth’s decision to opt out of a bidding war for Anadarko Petroleum Corp has raised the bar for deals, and dampened expectations that oil majors will Continue Reading

U.S. energy firms this week reduced the number of oil rigs operating for the third time in four weeks even as crude production forecasts increase despite some drillers cutting spending. Continue Reading

The number of active oil and gas rigs fell again in the United States this week according to Baker Hughes, after a string of losses in the weeks prior, keeping Continue Reading

Occidental Petroleum and Anadarko yesterday signed a merger agreement putting the final stroke to the biggest deal in oil and gas since Shell’s acquisition of BG Group. Hart Energy quoted Continue Reading

Oilfield services provider Weatherford International Plc, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection. The company, which Continue Reading

New environmental regulations in Colorado have chilled investment in the state’s oil and gas fields as companies grapple with how local officials will respond to a law giving them more Continue Reading

U.S. shale oil—which just four years ago was the world’s second most expensive oil resource—is now the second cheapest source of new oil supply globally, just behind the giant onshore Continue Reading

US oil and gas rigs fell 13 to 1,071 the week ended May 8, S&P Global Platts Analytics said Thursday, resuming what has generally been a six-month downward trend despite Continue Reading

Although Colorado passed a sweeping overhaul of the oil and natural gas permitting process for drilling new wells in the state, and Democratic Governor Jared Polis declared an end to Continue Reading

Product & Logistics Services is ceasing operations at its Monahans, Texas facility, resulting in the termination of 124 employees. Product & Logistics Services LLC (P&LS), a subsidiary of Schlumberger Limited, Continue Reading

The shale industry faces an uncertain future as drillers try to outrun the treadmill of precipitous well declines. For years, companies have deployed an array of drilling techniques to extract Continue Reading

It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to Continue Reading

Driven by a risk-taking chief executive, Occidental Petroleum Corp. is trying to swallow a competitor close to its own size, outmaneuvering one of the world’s oil giants in the process. Continue Reading

Chevron is playing its cards close to its chest when it comes what’s next on the Anadarko deal. Chevron is playing its cards close to its chest when it comes Continue Reading

Triangle Petroleum Corp., which has interests in North Dakota’s energy and commercial real-estate markets, filed for bankruptcy Wednesday with a reorganization plan under which bondholder J.P. Morgan Securities LLC will Continue Reading

North America’s energy-focused private equity firms just saw a five-year low in fund closings and the lowest amount of total capital raised for energy investment since early 2016. During the Continue Reading

Chevron is arguably the best of the integrated super-major oil companies. For the past 20 years, Chevron has delivered superior returns to shareholders, outperforming the S&P 500 for most of Continue Reading

The global economy would be in serious trouble if it weren’t for the rapid growth of U.S. shale oil production. Since the 2008 financial crisis, U.S. shale oil production has Continue Reading

Highlights Chevron, Occidental in bidding war since early April Occidental revises bid Sunday, aggress to deal with Total Dubai — The bidding war between Occidental Petroleum and Chevron to acquire Continue Reading

Occidental Petroleum Corp. Chief Executive Officer Vicki Hollub is on the cusp of winning a David versus Goliath bidding war that has captivated the oil industry. After making a series Continue Reading

Driven by a risk-taking chief executive, Occidental Petroleum Corp. is trying to swallow a competitor close to its own size, outmaneuvering one of the world’s oil giants in the process. Continue Reading

Occidental Petroleum Corp said on Monday its latest bid to take over Anadarko Petroleum Corp was designed to make sure Anadarko’s board considers its offer superior to one from Chevron Continue Reading

Occidental Petroleum has updated the terms of its bid for Anadarko by saying it will pay 80 percent of the US$38 billion it is offering in cash, negating the need Continue Reading

Oxy revises its offer for Anadarko and enters into an $8.8 billion agreement with Total in connection with the deal. Occidental Petroleum Corporation (Oxy) revealed Sunday that it has jazzed Continue Reading

HOUSTON (Reuters) – Anadarko Petroleum Corp’s board on Monday backed a $38 billion bid from Occidental Petroleum Corp, adding pressure on rival Chevron Corp to raise its offer or walk Continue Reading

Anadarko Petroleum Corp. said Monday that a $38 billion bid by Occidental Petroleum Corp. was superior to an offer it accepted from Chevron Corp., raising the stakes in the battle Continue Reading

France’s Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil Continue Reading

Occidental Petroleum Corp increased the cash component of its $38 billion bid to acquire Anadarko Petroleum Corp on Sunday, removing a requirement for any deal to receive the approval of Continue Reading

Shale production in West Texas continues to boom–so much so that shale oil and gas producers in the Permian Basin have more than they know what to do with. As Continue Reading

The terminal facilities will handle Permian crude oil and condensate for transport to the Gulf Coast. KBR, Inc. has won a reimbursable front-end engineering design (FEED) and engineering, procurement and Continue Reading

The U.S. added two oil rigs and dropped three gas rigs this week for a net loss of one rig. The U.S. added two oil rigs and dropped three gas Continue Reading

Oil prices crashed mid-week on news that U.S. crude oil inventories spiked, offering evidence that the oil market is not as tight as expected only a few days ago. U.S. Continue Reading

Houston’s Apache Corp. said Wednesday it lost $47 million in the first quarter versus a $145 million profit during the first three months of 2018. Despite the financial loss, Apache Continue Reading

Iran, Venezuela, Libya. The threats to global oil supplies are well known, reading like a laundry list of the world’s hotspots afflicted by sanctions, strife, and civil war.  But over Continue Reading

As the acquisition war rages on over Anadarko, some analysts are suggesting that there will be additional mergers and acquisitions as major oil companies seek to increase their foothold in Continue Reading

Shell is keen to grow its US shale oil portfolio but does not feel pressured to chase new acquisitions, as Occidental and Chevron battle for control of Anadarko’s Permian-rich upstream Continue Reading

New York — HollyFrontier bumped up the amount of sour crude processed in its Permian Basin-fed Navajo refinery in Artesia, New Mexico, in the first quarter of 2019 to 75% Continue Reading

The US active rig count bounced back this week as operators deployed an additional 18 oil and natural gas rigs to lift the total to 1,084 in the week that Continue Reading

The second U.S. shale oil drilling boom has started to cool as a decline in oil prices since the end of the third quarter of 2018 filters through to lower Continue Reading

Highlights Commercial crude stocks up 9.93 million barrels at 470.57 million barrels Imports notch 10-week high at 7.41 million b/d Refinery utilization falls below 90% on Midwest turnarounds New York Continue Reading

Texas has pumped more oil than Iraq, OPEC’s No. 2 producer, for six months in a row, a lead the Lone Star State will keep for the foreseeable future — Continue Reading

Warren Buffett’s Berkshire Hathaway Inc. agreed to inject $10 billion into Occidental Petroleum Corp.’s bid to acquire Anadarko Petroleum Corp. and fight off Chevron Corp. Last week, Houston-based Occidental offered Continue Reading

Warren Buffett’s Berkshire Hathaway has committed to invest US$10 billion in equity in Occidental Petroleum if Occidental completes its proposed acquisition of Anadarko, Occidental said on Tuesday, a day after Continue Reading

Highlights Q1 output was 326,000 boe/d from the three plays First-half 2019 seen flat, but growing later in year Long-term capex plan under $7 billion/year: CEO Lance Houston — ConocoPhillips’ Continue Reading

Anadarko Petroleum Corporation said on Monday that it plans to resume negotiations with Occidental Petroleum after Occidental announced last week a proposal to buy Anadarko at a higher price than Anadarko Continue Reading

Anadarko Petroleum Corp said on Monday it would negotiate with Occidental Petroleum Corp over its $38 billion cash-and-stock bid, after determining it could get a better deal than its agreed Continue Reading