Chevron CEO Sees $100 Oil on Geopolitical Risks, Demand Chevron Corp. plans to increase Permian Basin production by about 10% this year from 2021 levels, among the biggest growth forecasts Continue Reading
Oil-directed rigs rose 4 to 495. Oil production in the U.S. last week fell to 11.6 million bpd for week ending January 21 Gas-directed rigs were up by 2 to Continue Reading
30 oil and gas infrastructure facilities in the Permian have been large methane emitters over the past 3 years, according to a new study. The super-emitters could save tens of Continue Reading
A new projection from the United States Energy Information Administration, however, shows a clear win for renewables in the coming years – and waning natural gas usage. The EIA expects Continue Reading
There is a 200-million-barrel gap between the agency’s own global inventory calculations and what it observed in the global oil supply Wrong assumptions about demand were clearly one cause for Continue Reading
A new area under watch by the Texas oil regulator could impact wells responsible for disposing about 270,000 barrels per day of saltwater from oil and gas operations, according to Continue Reading
U.S. energy firms this week cut oil rigs for the first time in 13 weeks after crude prices fell for six weeks in a row from late October-early December. Oil Continue Reading
The number of active drilling rigs in the United States rose by 3 this week, bringing the total rig count to 604, as oil prices linger just under 7-year highs. Continue Reading
Highlights Sees ‘short-cycle activity resurgence’ in 2022 Long-cycle projects also gain momentum Strong growth expected in offshore markets Recovery from the coronavirus pandemic continues to improve the energy landscape, as Continue Reading
The active rig count increased in the week ending Jan. 19 in every major US oil and gas shale basin barring the Utica as operators take advantage of high prices Continue Reading
Highlights Midland, Texas low temperature forecast to dip below 20F Waha cash price falls 83 cents on Jan 20 to $3.86/MMBtu Balmo, February forwards markets price in Waha premium Low Continue Reading
While sentiment and intent can heavily influence oil markets, it is the fundamentals that ultimately shape them When it comes to U.S. shale production and investment, those fundamentals are increasingly Continue Reading
Crude oil production in the Permian shale play reached a record-high last month, averaging 4.92 million bpd, the Energy Information Administration reported in the latest edition of its Drilling Productivity Continue Reading
The IEA raised projections for global oil demand by 200,000 barrels a day for both 2021 and 2022. Global oil markets look tighter than previously thought as demand suffers surprisingly Continue Reading
State-run Oil India exits from Niobrara shale business, sells entire stake Reliance divested entire holdings in Eagleford shale play in November Indian firms pursuing more profitable opportunities at home: Platts Continue Reading
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Frackers in America’s hottest oil field are facing an expensive new setback: earthquakes. Shale companies in West Texas will have to pay more to move millions of barrels of wastewater that surfaces Continue Reading
The Eagle Ford Shale in South Texas, long dormant compared to its larger cousin the Permian Basin, saw its biggest one-week jump in drilling activity in more than two years Continue Reading
The number of active drilling rigs in the United States rose by 13 this week, bringing the total rig count at 601, as oil prices keep to bull territory even Continue Reading
Natural gas output up 2.4% to 3.072 Bcf/d Rig counts rising; December count was 32 December may show output rise, then drop North Dakota’s oil production jumped almost 49,000 b/d, Continue Reading
Despite multiple signals from the U.S. oil industry that it will continue treating the oil price recovery cautiously, signs are emerging that production growth is accelerating in some key locations, Continue Reading
Investment firm EnCap has merged two of its portfolio companies to create a shale oil producer in the Permian worth $4 billion, Reuters has reported , citing unnamed sources familiar Continue Reading
The region’s total rig count now stands at 729. North America added 53 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on January Continue Reading
Schlumberger (SLB.N) , the world’s largest oilfield services company, is adjusting operations planning as COVID-19 infections have soared among its U.S. workforce, the company said on Friday. Schlumberger has had Continue Reading
Dealing with the US shale industry’s produced water is increasingly controversial for operators, a new Rystad Energy report reveals. Even though total produced volumes are projected to hit new record Continue Reading
U.S. energy firms kicked off the new year by continuing to add oil and natural gas rigs this week after increasing the rig count in 2021 after two years of Continue Reading
The number of active drilling rigs in the United States rose by 2 this week. Oil-directed rigs were up by 1 to 481, while gas-directed rigs were up by 1 Continue Reading
Oil producers in some of the most prolific parts of the Permian could lose up to half of their wastewater disposal wells as the Texas Railroad Commission targets the quake-inducing Continue Reading
2021 saw a big number of high-profile oil deals in the prolific Permian basin Independent oil companies are leading the charge The Delaware Basin is especially attracting attention from E&Ps Continue Reading
Citi’s Morse Sees Oil Market in Surplus at End of 2022 Major shale-oil drillers are dreading the prospect of $100-a-barrel crude on fears it will tempt less-disciplined rivals to expand Continue Reading
Strongest earthquake in 10-years stirs up debate in Texas The Texas Railroad Commission banned injection of wastewater from well drilling into deep wells just before the big quake Shutting down Continue Reading
The number of active drilling rigs in the United States remained unchanged this week, keeping the total rig count at 586, as oil prices remain relatively strong despite the fresh Continue Reading
Highlights Permian falls by five rigs, leaving 300 Haynesville at 63, highest since April 2019 Eagle Ford, Marcellus, Utica stagnant The US oil and gas rig count fell by 13 Continue Reading
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Continue Reading
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending December 24, 2021 which was 115,000 barrels per day less than the previous week’s average. Continue Reading
Internal rates of return have fallen this month across both oil and dry gas basins in the US, yet the rig count has increased steadily throughout December despite lower commodity Continue Reading
Oil drillers in the biggest U.S. fields are shouldering record costs. Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are Continue Reading
The number of active drilling rigs in the United States last week rose by 7, bringing the total to 586 as oil prices remain relatively strong despite the fresh wave Continue Reading
The fracking industry has often been criticized for its tremendous water usage. Plasma Pulse Technology is a new fracking tech that requires no chemicals or water. Its developers describe it Continue Reading
A new, fully automated, oil and gas rig recently made its debut in the Permian Basin. The rig uses digital technology and Canrig robotics to ‘man’ the platform. Other robotic Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a second week in a row as demand for energy keeps growing after last year’s coronavirus demand destruction. Continue Reading
The number of active drilling rigs in the United States this week rose by 3, according to Baker Hughes . The total rig count rose to 579—a figure that is Continue Reading
The US oil and gas rig count jumped 16 to 716, energy analytics and software company Enverus said Dec. 16, with the Permian by far recording the biggest weekly domestic Continue Reading
The shale boom has been criticized for years due to its water-intensive fracturing technique. The risk of aquifer contamination may be overblown, but fracking’s water usage, especially in arid environments, Continue Reading
High decline rates, and a falling number of DUCs could incentivize drillers to ramp up drilling in the first half of 2022 Land drillers have lagged the rest of the Continue Reading
Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as a rebound in the U.S. shale industry fuels activity in its most prolific patch. Continue Reading
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Permian makes up 74% of increase Eagle Ford is 14% of climb, Bakken 8% Mounting output due to rising rig counts US unconventional oil output is poised to rise by Continue Reading
The current record of 4.91 million barrels a day was set in March 2020. Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as Continue Reading
U.S. drillers this week added oil and natural gas rigs for the sixth time in seven weeks as demand for energy keeps growing after last year’s coronavirus demand destruction. That Continue Reading
