Category: Shale Oil

Highlights Eagle Ford has biggest change: up 3 rigs to 53 Few to no moves in most basins Platts Analytics sees rig count rise into 2023 The US oil and Continue Reading

As global leaders struggle to tackle the climate crisis, and as ordinary people worldwide are increasingly whiplashed by high fuel costs, the US government is promising policymakers, industrialists, and investors Continue Reading

Pioneer Natural Resource CEO Scott Sheffield voiced his concerns about structurally low investment in upstream Sheffield: “I’m worried that it may get too high, above $100 (per barrel),” After half Continue Reading

The price of WTI has recovered 60% to $72.60 from just $45.52 a year ago. And such gains in oil prices could spark a resurgence in oil worker bonuses just Continue Reading

A day after Halliburton Co. warned of an imminent oil shortage, larger oilfield rival Baker Hughes Co. offered a sunnier outlook. “We don’t see a shortage at the moment,” Lorenzo Continue Reading

Highlights Midland, TX temps forecast to hit mid-20s F, Dec. 12 Critical operators ineligible for winterization exemption Wintry weather, forecast across West Texas over the next several days and this Continue Reading

The U.S. shale industry has learned some valuable lessons from the last two major oil price crashes U.S. shale drillers are expected to keep 2022 spending plans in check The Continue Reading

There has been no net change to the number of active drilling rigs in the United States this week, according to Baker Hughes . The total rig count remains at Continue Reading

U.S. shale oil producers will increase capital spending by nearly a fifth next year as they deploy more rigs and inflation bites, according to Rystad Energy AS. Expenditures will rise Continue Reading

US shale expenditure is projected to surge 19.4% next year Eagle Ford, Niobrara and Anadarko regions are anticipated to beat nationwide average spending growth Service price inflation alone is set Continue Reading

Rystad Shale Capex US shale expenditure is projected to surge 19.4% next year, up from an expected $69.8 billion in 2021 to $83.4 billion, the highest level since the onset Continue Reading

The leaders of Chesapeake Energy Corp. plan to ramp up activity in Texas’ Eagle Ford basin in 2022 as part of an investment plan they expect will contribute to forecasted Continue Reading

Drillers have focused on completing DUCs during the last couple of months Completion of DUCs has largely helped the record cash flows of the shale patch this year Shale drillers Continue Reading

Shale drillers’ newfound commitment to production discipline appears to be paying off as crude plunges toward a bear market. While West Texas Intermediate crude is poised for the biggest monthly Continue Reading

Shale explorers in the U.S. are showing no sign of accelerating the pace of deployment for drilling rigs, despite criticism from the Biden administration that they’re holding back on production Continue Reading

The US drilling rig count increased by 6 units to reach 569 rigs working for the week ended Nov. 24, according to Baker Hughes data. The count is up 249 Continue Reading

As the Biden administration and allies scramble to deliver more oil to market through stockpile releases, shale producers are tapping the brakes on reinvestment, according to new data, a sign Continue Reading

U.S. shale producers saw reinvestment rates hit an all-time low in the third quarter and saw record levels of free cash flow A group of 21 public U.S. shale companies Continue Reading

Helmerich’s warning follows similar commentary by America’s No. 2 provider of frack pumps. Helmerich & Payne Inc. suffered its worst decline since early in the pandemic as the biggest U.S. Continue Reading

U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row as crude prices rose to a seven-year high last week, prompting some Continue Reading

Highlights Rig count hits 41, highest since pre-pandemic: Enverus Production tops 3.8 Bcf/d, matching March 2020 level Devon sees larger capex share for Okla. acreage in 2022 Gas production from Continue Reading

Mark Siffin’s foray into the Permian Basin leaves behind financial and environmental wreckage that outlasts his presence in West Texas. Mark Siffin’s love affair with the Permian era started when Continue Reading

A stand-off between President Joe Biden and oil and gas producers in the Permian Basin is developing as prices continue to climb. President Biden has accused the oil and gas Continue Reading

 U.S. shale producers have added extra drilling rigs much more slowly than during the recoveries that followed the last two oil price slumps, limiting output and helping push local prices Continue Reading

President Biden’s calls on OPEC to increase production were received rather negatively by the U.S. shale patch which believes it can take care of the supply problem While some observers Continue Reading

U.S. oil producers are struggling to find enough crews, vehicles and equipment to take advantage of rising global demand and a seven-year high in crude prices, say executives at oilfield Continue Reading

View full article at www.eia.gov

The oil and gas industry is finally getting in on the 3D printing revolution, using the technology to solve supply chain problems, lower costs, and reduce emissions The tech could Continue Reading

The Bakken oilfield in North Dakota, the birthplace of America’s oil boom a decade ago, is struggling to recover from last year’s market crash even as crude prices have surged Continue Reading

U.S. shale production is finally ready to grow again, with output set to climb next year due to increased spending in the Permian The rise in output will be lower Continue Reading

The U.S. oil rig count rose this week to 454—a 4-rig increase since last week The number of gas rigs increased by 2 to 102 Drilling activity in the United Continue Reading

Merger and acquisition activity among US oil and gas operators surpassed a seven-year high this month as companies consolidate acreage in prolific southern basins. Not registered? Receive daily email alerts, Continue Reading

The EU and Asia have seen gas prices spike amid strong demand and low inventories That the United States is one of the world’s top producers of natural gas is Continue Reading

Highlights Delek US Holdings sees Permian production activity picking up Permian crude exports seen growing as global demand rises Exports of American Gulf Coast Select crude are falling as high Continue Reading

OPEC+ will be very happy with where oil prices currently are and is unlikely to change its course anytime soon The U.S. does have the ability to increase production, but Continue Reading

U.S. shale drillers have posted strong Q3 earnings as a result of rising crude prices Large shale drillers in the U.S. are slow to increase production, and instead focus on Continue Reading

U.S. energy firms this week added oil and natural gas rigs for a second week in a row as oil prices held near seven-year highs, prompting some drillers to return Continue Reading

Oil prices are on course to post a weekly loss despite OPEC+ refusing to increase production. A combination of U.S. producers preparing to ramp up production and President Biden’s willingness Continue Reading

The U.S. oil rig count rose this week to 450—a 6-rig increase since last week The total rig count is now at 550, up 250 from this time last year Continue Reading

Sheffield: Instead of urging OPEC+ to supply more oil, President Biden should back off American drillers Sheffield: The Biden administration’s measure to limit oil and gas drilling on federal lands Continue Reading

Large oil companies are racing to sell land in the largest U.S. shale formation as rising crude prices present them with a golden opportunity to jettison unwanted acreage and meet Continue Reading

U.S. oil and gas producer Continental Resources Inc (CLR.N) is nearing a deal to acquire the Delaware Basin assets of peer Pioneer Natural Resources (PXD.N) for more than $3 billion, Continue Reading

BP Plc aspires to be the oil industry’s climate champion. Last year, the London-based company became the first of the world’s supermajors to embrace an eventual phase-out of all greenhouse Continue Reading

Diamondback said it planned to pump some 221,000 to 225,000 barrels of crude daily. For full 2021, Diamondback said production would come in at between 222,000 to 223,000 bpd Most Continue Reading

The number of oil and gas rigs in the United States rose by 2 this week, according to Baker Hughes . The total rig count is now at 544, up Continue Reading

Despite high oil prices, capital discipline has held drilling and completion activity in check as most public operators have focused on paying down debt and returning cash to shareholders instead Continue Reading

Exxon Mobil Corp. and Chevron Corp. on Friday disclosed plans to expand drilling in the top U.S. shale basin after posting their biggest quarterly profits in years. Latecomers to the Continue Reading