Drowning in Dirty Water, Permian Needs $22B to Stay Afloat
In the dry, dusty plains of West Texas, home to America’s most prolific oil play, the problem isn’t too little water, it’s too much of it. (Bloomberg) — In the Continue Reading
U.S. crude stockpiles drop more than expected in week – EIA
U.S. crude stocks fell more than forecast last week, while gasoline and distillate inventories dropped unexpectedly, the Energy Information Administration said on Wednesday. FILE PHOTO: Crude oil storage tanks are Continue Reading
Colorado to vote in November on proposal to toughen oil drilling rules
A Colorado ballot initiative that would sharply increase the required distance between new oil wells and populated areas will go before voters in November, Colorado officials said on Wednesday. The Continue Reading
Wyoming oil basin deals rise as companies look past Permian
Oil companies looking for the next big find are wading into the Powder River Basin of Wyoming, where pipelines are not congested and land is cheaper than in Texas’ Permian Continue Reading
Solving The Permian Pipeline Problem
The fracking revolution in the U.S. has considerably changed the global oil market and the strategic calculations of market participants. The initial entry of shale oil producers caused a crash Continue Reading
Permian Pipeline Constraints Cause of $1.4B in Deferred Completion Spend
A new quarterly forecast by Westwood finds that pipeline takeaway capacity constraints in the US’ hottest shale play will see hundreds of deferred completions through 2019. Pipeline issues in the Continue Reading
Texas Oil Producers: Trade War Puts U.S. Oil & Gas Sector At Risk
The U.S.-China trade tensions—which continue to escalate despite last week’s talks—risk backfiring on the American oil and gas sector, slowing down investments in long-term projects, a Texas energy group says Continue Reading
Total Rules Out Investing In US Shale Oil After BP-BHP Deal
Total is not looking at investing in the US shale oil industry. STAVANGER, Norway, Aug 27 (Reuters) – French energy group Total is not looking at investing in the U.S. Continue Reading
The Permian Could Soon Have Too Much Pipeline Capacity
You could be forgiven for doing a double take on that sentence. There has been a lot of attention paid to the pipeline woes in West Texas, but because of Continue Reading
Top U.S. Shale Producers Soaring Debt Service Guts Profits
The massive debt accumulated by the U.S. Shale Industry is now decimating company profits. As company debts and interest rates rise, these shale producers interest expense also continues to increase. Continue Reading
U.S. drillers cut most oil rigs in over two years: Baker Hughes
U.S. energy companies cut nine oil drilling rigs this week, the biggest reduction since May 2016, following a recent decline in crude prices. The oil rig count fell to 860 Continue Reading
The Next Big Bet in Fracking: Water
When producers blast a mix of water, sand and chemicals to release oil and gas from rock formations miles underground, they not only unlock oil and gas, but also massive Continue Reading
Analysis: Bakken drilling approaches 19-month high as oil prices, IRRs rise
Highlights Rig count at 56, just shy of 19-month high IRRs at 49%, now highest in North America Denver — Drilling activity in the Bakken Shale has witnessed a steady Continue Reading
Colorado’s Oil and Gas Industry Goes after Reporters and Signature Gatherers in New fracking Fight
As Colorado gears up for another fight over oil and gas drilling near homes and schools, this time the fossil fuel industry is reportedly doing whatever it takes to win. Continue Reading
Cogent Midstream latest operator to add Permian gas processing capacity
Highlights 200 MMcf/d facility expected to start up in 2019 Private equity groups seizing shale opportunities Houston — Another private equity-backed midstream operator is expanding its natural gas operations in Continue Reading
Daycare Waiting Lists Hurt Local Permian Communities
More than 1,400 children were on daycare waiting lists in Midland and the surrounding area earlier this year, according to the latest available data. (Bloomberg) — The West Texas sun Continue Reading
More Mexican Nat Gas Pipelines To Ease Permian Constraints
The ongoing expansion of the U.S.-Mexico cross-border natural gas pipeline capacity provides an additional outlet for the constrained Permian production in West Texas, but delays in some projects on the Continue Reading
Fracking Wastewater Spikes 1,440% in Half Decade, Adding to Dry Regions’ Water Woes
Between 2011 and 2016, fracked oil and gas wells in the U.S. pumped out record-breaking amounts of wastewater, which is laced with toxic and radioactive materials, a new Duke University Continue Reading
The Next Big Bet in Fracking: Water
Some investors see fortunes to be made in the U.S.’s hottest oil field—by speculating in water, not crude. Fledgling companies, many backed by private equity, are rushing to help shale Continue Reading
Spending Boost Fails To Raise Production In The Permian
In the second quarter, shale companies signaled their intention to lift capex. Part of the reason is that costs are on the rise, so some drillers have to spend more Continue Reading
Iran Sanctions Could Backfire On U.S. Drillers
The United States is upping the ante in its effort to sanction Iran, and its efforts may further complicate its ongoing trade war with China and affect the flow of Continue Reading
BIG TROUBLE BREWING AT THE BAKKEN: Rapid Rise In Water Production Signals Red Flag Warning
Big trouble is brewing in the mighty North Dakota Bakken Oil Field. While oil production in the Bakken has reversed since it bottomed in 2016 and increased over the past Continue Reading
The “Weakest” EIA Report In Years
The timing of the report is not ideal, coming amidst a currency crisis in Turkey, which has raised fears of financial contagion in other emerging markets. The strength of the Continue Reading
North Dakota producers fail to control natural gas flaring
Gas production in North Dakota’s Bakken Shale remains strong, but the inability to gather and process all the volumes led operators to flare nearly 17%, or 388 MMcf/d, of all Continue Reading
US oil rig count flat at 869 as operators weigh output growth vs. capex
Highlights Permian rigs up by one to 486, highest since January 2015 In Q2, capex guidance rose more than production guidance ‘Vast majority’ of oil growth largely weighted to H2: Continue Reading
U.S. Drillers Turn On The Brakes—Rig Count Remains Unchanged
Baker Hughes reported no change to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs stayed at 1,057 , according to Continue Reading
ND oil production drops as operators ‘tap the brakes’
North Dakota oil production dropped nearly 2 percent in June as producers scaled back activity, primarily to keep natural gas flaring from exceeding state limits, the state’s top oil regulator Continue Reading
U.S. oil drilling rig count holds steady this week: Baker Hughes
U.S. energy companies kept the oil rig count unchanged this week amid a steady decline in crude prices, which hit a near two-month low earlier this week. The rig count, Continue Reading
Can U.S. Shale Stop A Global Oil Supply Crisis?
Oil market investors and analysts are currently very much focused on the demand side, with concerns over the potential of trade wars to curb oil demand growth. On the supply Continue Reading
Oil falls as U.S. crude inventories jump unexpectedly
Oil futures fell more than $2 a barrel on Wednesday after data showed U.S. crude stockpiles jumped last week, compounding worries about a weaker global economic growth outlook. Brent crude Continue Reading
Oil and Gas Pipelines Needed in the Permian Basin
A lack of pipeline capacity is hampering Permian Basin crude oil and natural gas production. Pipelines that were adequate a few years ago are now overwhelmed due to the tremendous Continue Reading
Multibillion-dollar acquisition creates Permian major
A $9.2 billion all-stock acquisition creates one of the larger entities working in the Permian shale basin in the United States, Diamondback Energy announced. Diamondback announced the all-stock acquisition of Continue Reading
Crude-By-Rail Could Save The Permian Boom
Nutshell-Overview Crude-by-Rail (CBR) has been a savior for North American producers seeking higher returns for heavily discounted crudes caused by a lack of pipeline take-away capacity. And CBR, once again, Continue Reading
BP bets big on shale for its US comeback
BP’s blockbuster $10.5bn deal for a portfolio of shale oil assets from BHP Billiton was not only its biggest acquisition in almost 20 years, it signalled the company’s big comeback Continue Reading
The Productivity Problem In The Permian
Output in the Permian basin is already starting to slowdown, largely due to pipeline constraints. However, there is also a series of other data points that suggests that shale drillers Continue Reading
Is Deepwater Drilling More Profitable Than Shale?
Royal Dutch Shell says that offshore drilling is now more competitive than onshore shale drilling, upending what has become conventional wisdom since the 2014 oil market meltdown. The downturn was Continue Reading
Shale Profits Remain Elusive
This time was supposed to be different. This year was supposed to be the year in which the U.S. shale industry proved that, after years of frustrating investors, they would Continue Reading
US unconventional oil production seen growing by 93,000 b/d in September: EIA
US unconventional oil production is forecast to increase to 7.522 million b/d in September, up 93,000 b/d from August, the US government said Monday – the smallest month-on-month growth projection Continue Reading
The Fracking Industry Is Cannibalizing Its Own Production, Increasing Spill Risks
In the climactic final scene in There Will Be Blood — arguably the greatest movie about the oil industry — the main character played by Daniel Day Lewis explains how Continue Reading
U.S. drillers add most oil rigs since May: Baker Hughes
U.S. energy companies this week added the most oil rigs since May as drillers follow through on plans to spend more on exploration and production in anticipation of higher crude Continue Reading
U.S. Drillers Add Double Digit Oil, Gas Rigs
Baker Hughes reported an increase to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs increased by 13 rigs , according Continue Reading
A Major Setback Looms For Colorado Shale
An initiative to expand the setback distance required for oil and gas drilling in Colorado just received a boost, potentially making the November ballot. The stricter drilling requirements could have Continue Reading
Shale company Continental Resources raises production expectations
U.S. shale company Continental Resources said in its second quarter report it was raising its production and spending expectations for the year. “Continental is in an advantaged position in the Continue Reading
Continental Resources Sees 15-20 Pct Output Growth in 2019
Continental Resources, the U.S. shale producer controlled by billionaire Harold Hamm, expects its output to grow by 15 to 20 percent next year, with much of that increase weighted toward Continue Reading
Plains to Bring Permian Projects Online Early Amid Pipeline Bottlenecks
Plains All American Pipeline LP said two West Texas crude pipeline projects would begin partial operations slightly ahead of their original schedules. Aug 8 (Reuters) – Plains All American Pipeline Continue Reading
EIA: U.S. Oil Production Growth Is Slowing
The EIA just revised down its forecast for U.S. oil production growth for 2018, an acknowledgement that pipeline constraints are slowing output gains in the Permian basin. The EIA believes Continue Reading
U.S. cuts 2018 crude oil production growth forecast
NEW YORK (Reuters) – U.S. crude oil production in 2018 was expected to grow at a slower rate than previously forecast amid lower crude prices according to a monthly U.S. Continue Reading
Hundreds line up for gushing West Texas oil jobs
Job fairs are stocked with people hungry for better opportunities, but inside the MCM Grande Hotel in Odessa, Texas, oil services giant Halliburton is the one doing the wooing. “We Continue Reading
U.S. oil drillers cut rigs for second week in three: Baker Hughes
(Reuters) – U.S. energy companies this week cut oil rigs for a second time in the past three weeks as the rate of growth has slowed over the past couple Continue Reading
Falling Rig Count Supports Oil Prices
Baker Hughes reported a decrease to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs decreased by 4 rigs , according Continue Reading