Shares of U.S. shale oil producers dropped on Wednesday after several companies posted a lower-than-expected quarterly profit from rising spending and hedging losses that kept them from fully benefiting from Continue Reading
U.S. crude oil refinery inputs averaged 17.5 million barrels per day during the week ending July 27, 2018, which was 195,000 barrels per day more than the previous week’s average. Continue Reading
American oil production in May actually inched down from April by 0.3 percent, according to EIA’s Monthly Crude Oil and Natural Gas Production report . U.S. crude oil production for Continue Reading
The USA through May 2018. The upward surge has stalled for the last two months. U.S. production was down 30,000 bpd in May. It is a little astonishing how close Continue Reading
U.S. crude production fell 30,000 barrels per day (bpd) to 10.44 million bpd in May, as production declines in the Gulf of Mexico overshadowed gains in output from major shale Continue Reading
U.S. Silica Holdings Inc’s, which makes sand used in hydraulic fracturing, forecast an upbeat second half of the year on strong demand for locally sourced sand, helping its shares recover Continue Reading
BP plc’s $10.5 billion move to acquire most of BHP Billiton’s shale acreage in North America ‘signals a bold return by the UK oil giant to the lower 48 states,’ Continue Reading
A new report by Wood Mackenzie examines the risks facing operators and investors from inaccurately estimating well decline rates in the Permian. While parallels can be drawn between the current Continue Reading
The expanded western leg of MMP’s Texas refined products pipeline system will boast a 175,000-bpd rather than 150,000-bpd capacity. First it was 50 percent. Now it’s 75 percent. That’s how Continue Reading
Higher oil prices this year boosted U.S. oil production, and the U.S. oil industry played a large part in America’s impressive second quarter economic growth—the fastest growth since the third Continue Reading
Rising oil prices have led to an increase in trucking of frac sand, water, oilfield equipment, pipes, and fuel in West Texas. Together with the higher truck traffic on a Continue Reading
The fastest-growing oil region in the U.S. is fueling not only the second American shale revolution—it’s fueling a subculture of drug and alcohol abuse among oil field workers. The Permian Continue Reading
“Higher prices and operational improvements are putting the US shale sector on track to achieve positive free cash flow in 2018 for the first time ever,” the International Energy Agency Continue Reading
In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP’s ( BP.L ) shale business turn a profit for the first time. Thousands of Continue Reading
U.S. energy companies this week added oil rigs for the first time in the past three weeks as drillers follow through on plans to spend more on exploration and production Continue Reading
Oil and gas producers in Texas are doing more with less, but this has a negative side as companies need fewer workers on their payrolls, an economist said. Karr Ingham, Continue Reading
Economist Karr Ingham shares the mid-year results from the Texas Petro Index and production is doing well. Six months ago, Texas was on the cusp of breaking oil production records Continue Reading
Rehab centers in Midland treat many oilfield professionals who are abusing drugs and alcohol. [Editor’s Note: This is the third installment in a three-part series exploring the working and living Continue Reading
While the U.S. reached a new record of 11 million barrels of oil production per day last week, the top five shale oil fields also suffered the highest monthly decline Continue Reading
The largest shale oil producer in the Permian spent $264 million more than they made from operations drilling 63 new wells in the Permian and only added a net 9,000 Continue Reading
BP Plc ( BP.L ) has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton ( BLT.L ) ( BHP.AX ) for $10.5 billion, expanding Continue Reading
BP BP -1.13% PLC will buy the bulk of BHP Billiton Ltd.’s BHP -1.03% U.S. onshore oil-and-gas unit for $10.5 billion, as the U.K. oil major rebuilds in the U.S. Continue Reading
U.S. shale player Continental Resources reported weather-related issues for production in the second quarter but hinted at strong second-half gains. Continental is one of the more active producers in the Continue Reading
Still facing protests over shale gas work, British energy company Cuadrilla Resources said its efforts were pumping millions of dollars into the local economy. The company, a pioneer in British Continue Reading
There’s a good chance that a ballot initiative to significantly expand the buffer zones between oil and gas wells and homes and other buildings could be up for voting by Continue Reading
While Midland is enjoying low unemployment rates due to increased Permian activity, there is still a high demand for oilfield talent. The lure of high wages and bustling activity are Continue Reading
In announcing gains insecond-quarterr revenue, drilling services company Halliburton said North America is the fastest growing energy market in the world. Halliburton reported total revenue for the three months ending Continue Reading
Shares of oilfield services provider Halliburton fell by more than 8 percent on Monday after the company warned of moderate growth in the oil and gas-rich Permian Basin and lower Continue Reading
Rigzone asks several oil and gas majors about their hiring plans in the Permian basin in the near future. Royal Dutch Shell plc expects to be in “growth mode” in Continue Reading
(Reuters) – Shares of oilfield services provider Halliburton fell by more than 8 percent on Monday after the company warned of moderate growth in the oil and gas-rich Permian Basin Continue Reading
GTI (Gas Technology Institue) is leading a high-profile program on Hydraulic Fracturing Test Sites (HFTS) in the Permian Basin, bringing together government and industry to improve recovery, continue enhancing environmentally Continue Reading
Baker Hughes reported a decreased number of active oil and gas rigs in the United States on Friday. Oil and gas rigs decreased by 8 rigs , according to the Continue Reading
U.S. energy companies this week cut oil rigs by the most in a week since March as the rate of growth has slowed over the past month or so with Continue Reading
**Sees production decreasing **CP Rail moved 134,000 b/d in Q2 Receive daily email alerts, subscriber notes & personalize your experience. Register Now A shortage of pipeline takeaway capacity from the Continue Reading
The Permian basin has run up against a bottleneck for pipeline capacity. Gushing oil from West Texas will surpass the available space on the region’s pipelines this year, which could Continue Reading
Source: U.S. Energy Information Administration, based on Natural Gas Intelligence The natural gas spot price spread between the Permian Basin, as priced at the Waha Hub in western Texas, and Continue Reading
The ‘mega-frac’ is turning the typically annoying sand of West Texas into the new gold, and the oil and gas land rush on the Permian Basin has now extended into Continue Reading
The contract is expected to launch in third quarter of 2018 and will have physical delivery in Houston. The Intercontinental Exchange Inc. (ICE) has plans to launch a Permian West Continue Reading
While oil production from U.S. shale basins has been relentless, it will be other producers contributing to long-term supply growth, Wood Mackenzie found. Total U.S. oil production for the week Continue Reading
US unconventional oil production is projected to rise 143,000 b/d in August to 7.470 million b/d, the US Energy Information Administration said Monday, the second-highest month-to-month volume growth increase since Continue Reading
U.S. oil output from seven major shale formations is expected to rise by 143,000 barrels a day to a record 7.47 million barrels per day in August, the U.S. Energy Continue Reading
A $1.1 billion U.S. shale pipeline on Monday was denied an exclusion to the Trump administration’s tariff on imported steel, the first such ruling on a major energy project since Continue Reading
Oil production in the seven most prolific US shale regions will hit new highs next month, according to the Energy Information Administration’s monthly Drilling Productivity Report released on Monday afternoon. Continue Reading
Oil is rising in spite of growing U.S. production. Shale output is “short-cycle”, making it less risky. As capex flows to North America, it’s limiting investment elsewhere in conventional projects. Continue Reading
Midstream operators are preparing to release financial results for the second quarter as a flurry of oil drilling activity in the Permian Basin creates the need for more pipelines to Continue Reading
Crude oil production growth in the largest U.S. shale field could shrink by nearly two-thirds next year because of limited pipeline capacity that will blow out already wide differentials in Continue Reading
Booming crude oil and natural gas production in the Permian Basin and not enough pipeline takeaway capacity have widened the discounts at which oil and natural gas pumped in the Continue Reading
He was almost right. The work came back. But Mr. Neece’s former job as a well logger—measuring well conditions thousands of feet underground—was gone. Those duties are increasingly being overseen Continue Reading
There is perhaps no industry that better captures the money-multiplying effect of the Permian boom. (Bloomberg) — Standing high on top of a windswept dune in the West Texas plains, Continue Reading
The goal for any commercial company is to make as high as possible profit and returns on invested (employed) capital, primarily the owners’ capital, equity. Light Tight Oil (LTO) extraction Continue Reading
