U.S. drillers add oil rigs for sixth consecutive week: Baker Hughes
U.S. energy companies added oil rigs for a sixth week in a row as crude prices continue to soar to multi-year highs after new sanctions on Iran are anticipated to Continue Reading
Texas oil drilling permits rose 34 percent in April
Texas’s energy regulator issued a third more oil and gas drilling permits in April than a year ago, according to data released on Thursday, as higher prices continue to spur Continue Reading
ETP Plans 600,000 Bpd Oil Pipeline From Permian To Texas Coast
Energy Transfer Partners said on Thursday it plans to build a crude pipeline from the Permian basin in Texas to the Houston Ship Channel and Nederland, Texas, which will have Continue Reading
Permian Bottleneck Provides Huge Opportunity For Oil Traders
Oil production in the fastest-growing U.S. shale play, the Permian, continues to boom, while takeaway capacity has not kept up. Pipeline availability issues have led to a major discount on Continue Reading
US oil producers battle to meet Iran shortfall
As President Donald Trump’s decision to reinstate sanctions on Iran sends oil prices higher, consumers and the administration might hope that US producers could come to the rescue with increased Continue Reading
Permian 3.0 Shows U.S.’s Biggest Oil Field May Have More to Give
Call it Permian, version 3.0. That’s how Tim Dove, who leads Pioneer Natural Resources Co., refers to new well designs his company says are now pumping 35 percent more oil Continue Reading
EIA: US Crude Output To Hit 12 MMBpd In Late 2019
U.S. crude oil production is expected to rise more than previously expected to 12 million barrels per day by the fourth quarter of 2019, the U.S. Energy Information Administration said Continue Reading
Shale Drillers Face New Test of Will as Crude Tops $70 Mark
With benchmark US crude prices crossing the $70 a barrel threshold, the shale drillers who helped upend global markets now face a new challenge. (Bloomberg) — For the oil industry, Continue Reading
U.S. Shale’s Refining Crisis
U.S. shale is growing so quickly that it is presenting new challenges for refiners. The quality and type of the oil mix, particularly in the U.S., is changing because of Continue Reading
Shale drillers face new test as oil tops $70 a barrel
For the oil industry, $70 offers a test of wills. With benchmark U.S. crude prices crossing the $70 a barrel threshold on Monday, the shale drillers who helped upend global Continue Reading
Shale Drillers Face New Test of Will as Crude Tops $70 Mark
For the oil industry, $70 offers a test of wills. With benchmark U.S. crude prices crossing the $70 a barrel threshold on Monday, the shale drillers who helped upend global Continue Reading
The Future Of U.S. Oil Relies On A Single Play
U.S. oil production recently broke another record, jumping to 10.619 million barrels per day (mb/d) in the last week in April, and the sky seems to be the limit for Continue Reading
The Permian Can Help Satisfy China’s LNG Appetite
Global liquefied natural gas (LNG) demand could exceed available supply by up to 150 million tons per annum (mtpa) by 2025, and planned LNG projects outside North America could supply Continue Reading
U.S. drillers add oil rigs for fifth straight week: Baker Hughes
U.S. energy companies added oil rigs for a fifth week in a row as they follow through on plans to spend more on drilling this year with higher crude prices Continue Reading
What Does the Railroad Commission of Texas Regulate? Not Railroads
He estimated that only 1 of 10 Texans knows the commission’s main function, and that it has nothing to do with railroads, despite elections every two years to fill one Continue Reading
Increase In Well Productivity Drives U.S. Production Jump
New shale oil well productivity drove U.S. production higher in the last few years, with the average daily rate for the first month of operation rising from less than 100 Continue Reading
U.S. crude oil production efficiency continues to improve
U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average Continue Reading
Permian crude producers work to reduce exposure to deep price discounts
Permian crude producers are working on ways to reduce their exposure to deep price discounts, company executives said Tuesday. * Noble pricing more crude in Gulf Coast * Encana sees Continue Reading
Boom time comes early to West Texas oil patch
In West Texas, rising oil prices are fueling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the Continue Reading
Oil Markets React Stoically To Rising Rig Count
US drillers added 8-rigs to the total number of oil and gas rigs this week, according to Baker Hughes, adding 5 oil rigs and 3 gas rigs. Meanwhile, neighboring Canada Continue Reading
Oil Boom Is Starting To Run Into Limits To Growth
Chevron, the world’s third-largest publicly traded oil producer, is spending $3.3 billion this year in the Permian and an additional $1 billion in other shale basins. Some growing physical limitations Continue Reading
U.S. oil rig count rises five this week, 28 this month: Baker Hughes
The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits Continue Reading
Permian On Track To Become Largest Oil Basin In The World
The Permian Basin has long been touted as the fastest growing shale play in the United States, but now its oil-producing prowess is being highlighted again as the Energy Information Continue Reading
Bottlenecks Bring Christmas Early for Permian Refiners
( A good definition of Christmas for a commodities trader goes something like “this thing that costs X over here costs X+Y over there.” Christmas has come way early in Continue Reading
Permian crude differential hits lowest since Aug 2014 as output tops expectations
Permian Basin light sweet crude WTI Midland fell to its lowest level in more than three and a half years Tuesday, with rising production and limited takeaway capacity pushing down Continue Reading
Permian Basin Seen Growing to Largest Oil Patch in the World
The Permian shale play is all about setting records. Now, the region will probably become the world’s largest oil patch over the next decade. Output in the basin is forecast Continue Reading
Higher Prices Set To Send U.S. Oil Stocks Soaring
The U.S. shale industry is widely expected to become cash flow positive for the first time. For years, even when oil prices were high prior to the 2014 meltdown, shale Continue Reading
Halliburton revenue jumps on higher North American demand
Oilfield services provider Halliburton Co ( HAL.N ) reported a 34 percent jump in first-quarter revenue on Monday as North American companies boosted oil and gas production amid rising oil Continue Reading
US shale groups reach self-financing milestone as oil price rises
The US shale oil revolution has reached a landmark moment, with the sector’s top companies for the first time earning enough cash to cover the cost of new wells. Since Continue Reading
Will U.S. Shale Offset Soaring Global Oil Demand?
Oil has rallied sharply in recent days to see West Texas Intermediate (WTI) trading at just under $70 per barrel and Brent breaking through the $70 per barrel mark, with Continue Reading
U.S. drillers add oil rigs for third consecutive week: Baker Hughes
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices Continue Reading
GE’s Baker Hughes first-quarter profit tops view on oilfield services growth
General Electric Co’s Baker Hughes posted a quarterly profit that beat Wall Street estimates on Friday as improving oil prices prompted companies to ramp up oil and gas production. U.S. Continue Reading
Schlumberger sees growing supply challenges
The oil and gas industry may need a significant amount of new investments to offset a looming supply shortage, the head of oil services firm Schlumberger said. Companies like Schlumberger Continue Reading
Bottlenecks curb output for shale player Sanchez
Despite gains in its drilling program, U.S. shale player Sanchez Energy said first-quarter production was impacted by incidents outside of its control. Total first quarter production for the company averaged Continue Reading
Oil-rich North Dakota expecting budget issues
Facing tariff headwinds, and despite its vast crude oil resources, North Dakota may have to cut back because of a shortage of general funds, the governor said. North Dakota is Continue Reading
The Overlooked Implications Of The U.S. Shale Boom
One of the often-unsung aspects of the shale revolution that has taken place in the U.S.A. over the last few years, is the amount of natural gas that’s been produced. Continue Reading
A Crisis At The Heart Of U.S. Shale
The bottlenecks in the Permian are starting to capture the attention of the oil market, raising the prospect that U.S. shale production does not live up to the hype. The Continue Reading
The Secret of the Great American Fracking Bubble
In 2008, Aubrey McClendon was the highest paid Fortune 500 CEO in America, a title he earned taking home $112 million for running Chesapeake Energy. Later dubbed “The Shale King,” Continue Reading
Is the U.S. Shale Boom Hitting a Bottleneck?
The oil field at the heart of the U.S. shale boom appears to be choking on its own growth, a surprising development with big ramifications for energy profits and global Continue Reading
US Onshore Spending Expected to Rise 9% This Year
Barclays anticipates an increase in onshore upstream spending. Barclays’ updated survey of the top 40 U.S. onshore producers indicates preliminary upstream budgets are on track to increase by 9 percent Continue Reading
Shale Boom Creates New Petrochemical Hub
The record-setting natural gas production in the United States is benefiting not only consumers. The shale-growth-driven natural gas output is expected to bring benefits to the petrochemical industry as well, Continue Reading
Could Natural Gas Threaten Permian Oil Production?
In a recent article , I provided a firsthand look at the booming oil production in the Permian Basin. Notably, after 100 years of production, the Permian Basin is pumping Continue Reading
Oil Markets: The Calm Before The Storm
U.S. oil production is expected to rise by another 125,000 bpd in May, compared to a month earlier. – The gains will, unsurprisingly, come from the Permian basin, which is Continue Reading
U.S. shale output to rise by 125,000 bpd in May -EIA
U.S. shale oil production is expected to increase in May for the fourth consecutive month, U.S. Energy Information Administration data showed on Monday, boosted by record production in the prolific Continue Reading
Drilling Productivity Report
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
U.S. Rig Count Climbs As Oil Rallies
Baker Hughes reported a 5-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 1008, which is Continue Reading
Baker Hughes: US Drillers Add Oil Rigs For Second Consecutive Week
US energy companies added oil rigs for a second week in a row. April 13 (Reuters) – U.S. energy companies added oil rigs for a second week in a row, Continue Reading
OPEC sees oil markets tighten further even as U.S. shale booms
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from Continue Reading
OPEC’s Output Fell in March, While U.S. Shale Steamed Ahead
OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel’s agreement to cut production , even as the world’s total oil supply continued to Continue Reading
Fewer employees needed to produce oil in Texas
Texas crude oil and natural gas production is accelerating along with higher commodity prices, but payroll numbers are lower, a trade group reported. The Texas Alliance of Energy Producers estimated Continue Reading