The all-time high U.S. crude oil exports have been pushing demand and rates for very large crude carriers (VLCCs) higher since the middle of February as American exports are attractive Continue Reading
Chevron sees Permian output at 900,000 boe/d by end-2023 ExxonMobil sees more than 1 million boe/d as early as 2024 Chevron US Gulf operating costs drop to half of 2014 Continue Reading
ExxonMobil and Chevron both expect their Permian output to reach around 1 million barrels per day by 2024. ExxonMobil Corp. expects its Permian production will increase to more than 1 Continue Reading
The two biggest U.S. oil companies tried to outdo each other on Tuesday, boasting about their prowess in shale to lure investors to their side. Chevron Corp and Exxon Mobil Continue Reading
Chevron Corp. and Exxon Mobil Corp. plan to significantly ramp up production in the oil field at the heart of the American fracking boom, the latest sign that the next Continue Reading
Drilling in the Permian has plateaued in recent months, but production is still growing. Crucially, Permian production is expected to continue to grow for years to come, but the region Continue Reading
The U.S. exported a record 3.6 million barrels per day of oil in February. This oil is the result of the American fracking boom — and as a report from Continue Reading
U.S. shale drillers are facing a serious problem: Their wells are not producing as much oil and gas as they had anticipated. When facing shareholder scrutiny, shale drillers have countlessly Continue Reading
Shale companies’ strategy to supercharge oil and gas production by drilling thousands of new wells more closely together is turning out to be a bust. What’s more, the approach is Continue Reading
The U.S. shale revolution helped avert a “major, major energy chaos” in the world, OPEC’s Secretary General Mohammed Barkindo said in a somewhat puzzling interview with CNBC this week. Barkindo Continue Reading
The the number of active oil and gas rigs fell in the United States again this week according to Baker Hughes, despite record-breaking production for the week ending February 22—the Continue Reading
Analysis from Rystad Energy reveals a boost in production and a decrease in capital spending for U.S. shale companies in 2019. For U.S. shale companies, 2019 will see a boost Continue Reading
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite Continue Reading
U.S. crude oil production edged lower in December to 11.85 million barrels per day, posting its first decline since May, the U.S. Energy Information Administration said in a monthly report Continue Reading
The oil majors are scrambling to scale up their shale operations, and they are quickly becoming the most dominant producers in the shale sector, despite having arrived late to the Continue Reading
U.S. crude oil production rose 100,000 barrels per day last week to a record 12.1 million bpd, hitting a peak for the second straight week, according to data released by Continue Reading
Drilling activity has plateaued in much of the U.S., with the rig count zig-zagging well below the peak from last November. The rig count often rises and falls in response Continue Reading
The U.S. shale industry responds only to oil price signals and is like “a market without brain” , BP’s chief executive Bob Dudley said on Tuesday. “The U.S. is the Continue Reading
A majority of large publicly held US shale operators are between a proverbial rock and a hard place. How to service debt and pay out dividends? That is a question Continue Reading
To Wall Street, the shale industry has lost a lot of its allure. A decade’s worth of promises have failed to materialize, and Big Finance is cutting some of its Continue Reading
Marathon Oil said on Monday that it would be exiting the UK North Sea as it continues to focus on high-return U.S. shale oil operations. Houston-based Marathon Oil has signed Continue Reading
The the number of active oil and gas rigs fell in the United States this week according to Baker Hughes, despite record-breaking production for the week ending February 15. The Continue Reading
The U.S. dropped a total of four oil rigs this week while the gas rig count remained flat. The U.S. dropped four oil rigs this week, according to weekly data Continue Reading
U.S. energy firms this week cut the number of oil rigs operating for the first time in three weeks week after U.S. crude production hit an all-time high, boosting exports Continue Reading
Weak returns at U.S. shale producers could cost more executives their jobs and lead to increasing battles with activist investors, analysts said following changes at two producers. After years of Continue Reading
U.S. crude oil production hit a record 12 million bpd in the week ending February 15, rising by 100,000 bpd from 11.9 million bpd in the previous week, the weekly Continue Reading
Crude takeaway to exceed Permian production by 1 million b/d in 2020 Narrowing discount on WTI locked in at Midland Permian hub Gas takeaway constrained prior to October startup of Continue Reading
The US oil and natural gas rig count fell by four in the week that ended Wednesday to 1,090, a level not seen in nearly a year, according to S&P Continue Reading
Oil and gas production in the Permian will hit new records next month, according to the EIA. Oil Production in the Permian will surpass 4 million barrels per day (MMbpd) Continue Reading
Forget what you may have heard. Fossil fuels aren’t going anywhere. There is a lot of excitement, and deservedly so, about renewables, but the foundation of our energy supply is Continue Reading
Crude oil production in the Permian is set to rise above 4 million bpd for the first time in history next month, the Energy Information Administration said in the latest Continue Reading
America’s surging shale oil production shows little sign of abating, despite industrywide spending cuts, as explorers learn to do more with less. Almost all the independent producers have reduced their Continue Reading
U.S. shale production is expected to continue to soar well into the 2020s. And that is a major problem. Over the past decade, U.S. oil production has more than doubled, Continue Reading
Borden County, Texas, is set to become the home of the world’s largest battery storage system in 2021. IP Juno, a unit of Intersect Power LLC, has recently outlined plans Continue Reading
U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 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
Oil and gas producer Devon Energy Corp beat quarterly production estimates on Tuesday on the strength of its U.S. shale assets and forecast a strong year ahead, sending its shares Continue Reading
The United States largest oil company, ExxonMobil, is facing a financial train-wreck in its domestic oil and gas sector. And, the majority of the blame can be attributed to Exxon’s Continue Reading
U.S. shale production is expected to continue to soar well into the 2020s. And that is a major problem. Over the past decade, U.S. oil production has more than doubled, Continue Reading
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. Continue Reading
Baker Hughes reported an increase in the number of active oil and gas rigs in the United States this week. The total number of active oil and gas drilling rigs Continue Reading
The US added a net total of two rigs this week. The United States added three oil rigs and dropped one gas rig for a net gain of two rigs Continue Reading
Permian IRRs up 8 percentage points, Bakken rises to 31% WTI rolling 12-month forward curve tops $56/b Gas IRRs see narrow gain amid stable forward prices Denver — Half-cycle internal Continue Reading
With US shale activity in 2019 beset by uncertainty, Rystad Energy identifies three trends for US light tight oil production that will have a profound impact on the evolution of Continue Reading
Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy Continue Reading
Fracking and the booming short-cycle shale production in the Permian have revolutionized not only U.S. crude oil production. The prolific shale basin in West Texas and New Mexico has also Continue Reading
Chevron holds the most valuable U.S. shale portfolio in terms of total net present value, according to Rystad Energy. Chevron holds the most valuable U.S. shale portfolio in terms of Continue Reading
Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts’ estimates, helped by a surge in Permian basin production and higher realized prices for its crude. Production from Continue Reading
The world’s two biggest energy exchanges have taken their fierce rivalry to Houston, Texas in pursuit of business linked to the millions of barrels of shale oil arriving in the Continue Reading
The state of Texas now has even more bragging rights in the U.S. Oil Patch, and even globally According to a new report from the Texas Independent Producers Royalty Owners Continue Reading
