The oil industry risks a supply crunch as big energy companies focus on US shale and other short-term efforts over the long-term mega-projects seen in years past, the head of Continue Reading
U.S. energy companies this week added oil rigs for the first time in three weeks but the rate of growth has slowed over the past month or so with a Continue Reading
Baker Hughes reported an increase in the number of active oil rigs in the United States today. The overall rig count increased by 5 rigs , according to the report, Continue Reading
The growing number of supply outages around the world are causing the oil market to become a lot more volatile, putting extra emphasis on every barrel that does or does Continue Reading
Productivity levels in the US’ prime tight oil play began to fall last year, raising further questions over the sustainability of the current tight oil recovery as constraints on the Continue Reading
Baker Hughes reported another dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 5 rigs , according to Continue Reading
U.S. crude production fell marginally by 2,000 barrels per day (bpd) to 10.467 million bpd in April from the highest on record in March, the Energy Information Administration (EIA) said Continue Reading
“The money’s here,” says Don Bryant, who was born in Hobbs 53 years ago and owns a company that makes tools to repair oil wells. He thought about uprooting for Continue Reading
The pipeline project should address some of the bottleneck concerns around Permian Basin production. Kinder Morgan Texas Pipeline LLC (KMTP), EagleClaw Midstream Ventures LLC and Apache Corp. have teamed up Continue Reading
When the U.S. Geological Survey published its updated resource estimate for the Wolfcamp Basin in the Permian a couple of years ago, it added fresh fuel to an already major Continue Reading
“The money’s here,” says Don Bryant, who was born in Hobbs 53 years ago and owns a company that makes tools to repair oil wells. He thought about uprooting for Continue Reading
U.S. shale companies, which kept pumping when the rest of the world cut back oil production, are in a strong position to benefit now that the Organization of the Petroleum Continue Reading
Pipeline limitations near the U.S. inland storage hub in Cushing, Okla., create headwinds for growth in Colorado oil production, a state report found. Colorado crude oil production more than tripled Continue Reading
The pipeline constraints in the Permian are finally starting to bite, threatening to derail the extraordinary production boom that has been underway for the last few years. Permian drillers are Continue Reading
Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The Continue Reading
Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale Continue Reading
OPEC should boost daily output by roughly 1 million barrels over time to keep global crude supply and demand in the balance as production dips elsewhere, a leading U.S. shale Continue Reading
The fastest-growing oil producing region in the United States, the Permian, is nearing the limits of its pipeline takeaway capacity and some producers may be forced to shut in wells Continue Reading
The chairman of Permian heavyweight Pioneer Natural Resources took the unusual step Wednesday of publicly asking OPEC to pump more oil, arguing the price range of $60-$80/b is best for Continue Reading
A BP PLC project deep in Oman’s desert shows how big oil companies are taking hydraulic-fracturing techniques perfected in Texas to the global stage, where they had long struggled. BP’s Continue Reading
US shale oil producers will likely benefit from any decision OPEC makes this week in Vienna, with the exception of a complete breakdown in unity that created the current supply Continue Reading
Back in 2011, The New York Times first raised concerns about the reliability of America’s proved shale gas reserves. Proved reserves are the estimates of supplies of oil and gas Continue Reading
HOUSTON (Reuters) – China’s proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry’s largest customer, adding Continue Reading
President Trump is back on his warhorse called Tariffs, yesterday announcing he was considering the introduction of a 10-percent levy on Chinese goods worth US$200 billion. The latest escalation in Continue Reading
Continental Resources Inc Chief Executive Harold Hamm has decided not to attend an OPEC event this week in Vienna, according to a company spokeswoman. Hamm, the founder of one of Continue Reading
The pipeline constraints in the Permian basin have become a hot topic lately, not least because of the steep discounts that oil producers in West Texas have been forced to Continue Reading
With WTI oil prices staying above $60 a barrel for several months, U.S. drillers are breaking production records each week, mostly thanks to the Permian in West Texas and New Continue Reading
The Permian has been getting most of the headlines on U.S. shale, but there is another play in the vicinity that has been attracting more industry attention than media attention. Continue Reading
As everyone watches OPEC and Russia ahead of their meeting in Vienna next week, it’s easy to miss the fact that this is not the only meeting that will set Continue Reading
U.S. energy companies added one oil rig this week, the fourth consecutive week of increases, despite a 9 percent decline in crude prices over the past four weeks. A pumpjack Continue Reading
Baker Hughes reported a dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 3 rigs, according to the Continue Reading
U.S. energy companies added one oil rig this week, the fourth consecutive week of increases, despite a 9 percent decline in crude prices over the past four weeks. Despite that Continue Reading
Among vineyards and cow pastures in East Texas last month, roughnecks started to drill in an oilfield that is 25 years past its production peak. Houston-based oil producer Wildhorse Resource Continue Reading
As the discount of U.S. crude to global benchmark Brent nears three-year highs, an emerging bottleneck at the key storage hub in Cushing, Oklahoma, is making U.S. futures vulnerable to Continue Reading
Oil producers are finding themselves in kind of a pickle. While oil prices are indeed on the rise, many producers are unable to take full advantage of this nicety because Continue Reading
Many top U.S. shale oil producers are missing out on the rally in oil prices to more than $70 a barrel – because they sold their oil through futures contracts Continue Reading
Higher oil prices are helping many American shale drillers. But they are hurting companies that frack for natural gas. As companies respond to rising oil prices by drilling more for Continue Reading
The bottlenecks in the Permian have created a widening chasm between not just Brent and WTI, but also WTI in Cushing or Houston and prices fetched for oil in the Continue Reading
Rigzone highlights some of the upcoming challenges for oil and gas firms in the Permian. The “clear challenge” producers of oil and natural gas in the Permian Basin will face Continue Reading
With oil price recovery taking hold, several U.S. oil and gas companies entered 2018 with a compelling plan – sell undeveloped or less essential fields and invest the money to Continue Reading
Over the past five years, U.S. shale production has seen strong and continuous gains in productivity as improvements were made in fracking technology and general know-how, but the most recent Continue Reading
Permian Basin operators have been raising more rigs and ramping up completions of late, but persistent water issues could be a material risk to future profitability and production, according to Continue Reading
A battle is playing out in Midland, TX between employee-starved local businesses and multinational energy companies who are poaching local residents left and right for high-paying jobs as the latest Continue Reading
Energy dominance carries its own backlash, it turns out. Ground zero is the Permian basin in west Texas, where oil production has run ahead of pipeline capacity to get it Continue Reading
The Permania, as someone called the oil industry and private equity rush to West Texas and New Mexico, has begun to take its toll on all those investors that saw Continue Reading
U.S. drillers added 2 rigs to the number of oil and gas rigs this week, according to Baker Hughes, with oil and gas rigs each increasing by 1. The oil Continue Reading
Pipeline operator Energy Transfer Partners has restored power to a pumping station in West Texas and is in the process of restarting operations on two crude pipelines impacted by an Continue Reading
US energy companies added oil rigs for a third week in a row even though crude prices have declined about 8% over the past three weeks. June 8 (Reuters) – Continue Reading
The Permian basin is on fire, and the current boom cycle in its oil industry is posing an interesting challenge that area in Texas: Right now, that challenge is a Continue Reading
Jet fuel prices are at six-year highs, and part of the reason is linked to record U.S. shale crude production and the unique properties refiners contend with when they refine Continue Reading
