In 2015, Pioneer Natural Resources filed a report with the federal Securities and Exchange Commission, in which the shale drilling and fracking company said that it was “drilling the most Continue Reading
The Permian Basin was once a hotbed of small, independent prospectors, wide-eyed wildcatters, and small companies hoping to strike it rich. Now, it is brimming with supermajors clamoring to buy Continue Reading
Recently, there has been some concern about the ability of U.S. shale , and in particular, the Permian Basin, to continue the meteoric increases in production that have characterized the Continue Reading
OPEC has thrown a “lifeline” to US shale producers by cutting output to boost oil prices, Saudi energy minister Khalid al-Falih said Sunday, rejecting the notion of a market share Continue Reading
U.S. energy firms cut oil rigs for a second week in a row as more producers, like Occidental Petroleum Corp, turned conservative in their 2019 drilling plans due to uncertainty Continue Reading
Baker Hughes reported no change to the number of active oil and gas in the United States this week. The total number of active oil and gas drilling rigs is Continue Reading
Midland crude for delivery in the fourth quarter is trading at the smallest discount in months in anticipation of the opening of pipelines transporting more than 2 million barrels per Continue Reading
A new computational model could potentially boost efficiencies and profits in natural gas production by better predicting previously hidden fracture mechanics while accurately accounting for the known amounts of gas Continue Reading
The US oil rig count dropped by four this week, while the country added four gas rigs, keeping the total rig count flat. U.S. drillers cut four oil rigs this Continue Reading
The Kansas City Fed’s fourth quarter energy survey reveals a negative drilling and business activity index – the first in almost three years. The future of drilling activity in the Continue Reading
EPIC Crude Pipeline LP said the projected third-quarter start-up of its crude pipeline from the Permian basin to Corpus Christi, Texas is in “some jeopardy” after U.S. regulators delayed action Continue Reading
The volume of drilled but unproduced wells continues to build across the US to record levels, but market sentiment is mixed on whether oil prices need to continue to recover Continue Reading
The Oklahoma City-based E&P company is lowering its rig count by 20% in 2019. After a strong fourth quarter in 2018, Chesapeake Energy Corporation is stepping into 2019 with a Continue Reading
The Vaca Muerta has attracted $165 billion in investment commitments as companies like Chevron, ExxonMobil and Total bet on the production growth potential of Argentina’s biggest shale play, but bottlenecks Continue Reading
Highlights Market mixed if higher or lower price needed Platts: $50/b oil enough to bring production DUC decisions also hinge on takeaway ability Houston — The volume of drilled but Continue Reading
U.S. producers can’t generate cashflow and production growth at $50 per barrel oil, according to Energy Aspects. U.S. producers can’t generate cashflow and production growth at $50 per barrel oil. Continue Reading
U.S. producers can’t generate cashflow and production growth at $50 per barrel oil, according to Energy Aspects. U.S. producers can’t generate cashflow and production growth at $50 per barrel oil. Continue Reading
Shale drilling activity in the US likely dropped to 44 jobs per day in November 2018, Rystad Energy’s analysis of preliminary data suggests. We conclude that nationwide fracking activity was Continue Reading
U.S. shale executives often boast of low breakeven prices, reassuring investors of their ability to operate at a high level even when oil prices fall. But new data suggests that Continue Reading
The powerful telescopes of Texas’s McDonald Observatory aim at some of the darkest night skies on the planet. But a dome of light is creeping closer on the northern horizon. Continue Reading
More good news came in today for the oil bulls as Baker Hughes reported a 8-rig decrease for oil and gas in the United States this week. The total number Continue Reading
US drillers drop eight rigs this week as crude prices advance. After two weeks of adding oil rigs, the U.S. rig count declined by eight this week, according to data Continue Reading
Retamco Operating has pulled out of a license in the Vaca Muerta after failing to come up with the financing to develop a block in the Argentinian shale play, a Continue Reading
Many people will tell you that the production rate of Saudi Arabia’s Ghawar oil field, which has yielded 5 million barrels of petroleum per day for decades, will never be Continue Reading
With oil prices below $50/b, 2019 still uncertain Prices are minimum required for output growth: Platts Analytics Producer fiscal discipline seen persisting into new year Houston — As the price Continue Reading
Two-thirds of projections made by the fracking companies between 2014 and 2017 in America’s four hottest drilling regions appear to have been overly optimistic, according to the analysis of some Continue Reading
Equinor published Wednesday an updated assay for “Eagle Ford chem grade,” the name it gives to a high-API, naphtha-rich condensate produced from the South Texas shale play. Receive daily email Continue Reading
The explosive growth of U.S. shale production has capped gains of international and U.S. oil prices, offsetting OPEC’s production cuts in the first half of the year and contributing to Continue Reading
Job growth in Texas is not exactly screeching to a halt, but low oil prices could start to lead to weaker employment figures. “The Texas labor market will likely tighten Continue Reading
Producers Diamondback Energy Inc., FANG -1.07% Parsley Energy Inc. PE -2.18% and Centennial Resource Development Inc. CDEV -1.63% either plan to operate fewer drilling rigs in 2019 or recently lowered Continue Reading
U.S. energy firms added oil rigs for a second week in a row even as oil prices fell to 1-1/2-year lows and headed for losses of more than 20 percent Continue Reading
Coming off a rather abysmal week for oil prices, Baker Hughes reported a 3-rig increase for oil and gas in the United States this week. The total number of active Continue Reading
Although natural gas flaring in the Bakken Shale set records in 2018, those levels are starting to fall as the first of one of several processing plants planned for the Continue Reading
The US added two oil rigs this week, marking the second week of increases. The U.S. added two oil rigs this week, marking the second consecutive week for an increase, Continue Reading
Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Continue Reading
US crude supply was little changed week on week as an uptick in production was matched by sharply higher exports last week, US Energy Information Administration data showed Friday. US Continue Reading
The US rig count fell to its lowest level since April last week, declining by 28 to 1,147, amid a broad slowdown in oil drilling activity, according to S&P Global Continue Reading
Crude oil output has more than doubled in New Mexico over the last four years, making it the No. 3 producer among U.S. states, but a January change in state Continue Reading
U.S. oil prices at below $50 and now even below $45 a barrel could cause concerns about the debt levels of some energy companies, Nasdaq energy analyst Tamar Essner told Continue Reading
Shale drillers in the Permian Basin are producing vast amounts of gas as a byproduct of prospecting for oil. But there aren’t enough pipelines to take all the gas to Continue Reading
All industrial revolutions need two things: technology and finance. The US shale revolution was made possible by the advances in horizontal drilling and hydraulic fracturing that allowed oil and gas Continue Reading
The United States Geological Society (USGS) today released a report stating there is an estimated 46.3 billion barrels of theoretical, technically recoverable, as yet undiscovered light tight oil reserves in Continue Reading
Total U.S. oil production around 2025 will almost equal the combined production of Russia and Saudi Arabia, Fatih Birol, the Executive Director of the International Energy Agency (IEA), told Turkish Continue Reading
America’s energy security just got a lot more secure. On November 28 The United States Geological Survey (USGS) published an assessment of continuous (unconventional or ‘tight’) resources in a part Continue Reading
Coming off a rather abysmal week for oil prices, Baker Hughes reported a 9-rig increase for oil and gas in the United States this week—a turnaround from three losses in Continue Reading
U.S. energy firms added oil rigs for the first time in the past three weeks despite sharp declines in crude futures prices to their lowest since the summer of 2017. Continue Reading
U.S. shale producers are slamming the brakes on next year’s drilling with crude prices off 40 percent and mounting fears of oversupply, paring budgets that in some cases were set Continue Reading
U.S. crude’s discount to global benchmark Brent on Friday firmed to the narrowest since late August as a pipeline from the Cushing, Oklahoma, storage hub to the U.S. Gulf Coast Continue Reading
Three aggressive independent Permian Basin upstream operators released capital budgets for 2019 in the last few days that are lower than either prior expectations or actual 2018 spending by at Continue Reading
This week’s oil rig count has increased for the first time in three weeks. The U.S. has added oil rigs for the first time in three weeks, according to data Continue Reading
