Shale oil and gas infrastructure bubble goes flat
The US government is frequently caricatured as a tool of rich people. Look closely, though, and the rich sometimes have their money consumed in ways that serve the state. These Continue Reading
U.S. Oil Producers Ready To Self-Finance
A fifth of U.S. crude oil producers are planning to use their cash flow from operations to fund new production expansion, a survey from Haynes & Boone has found. Besides Continue Reading
Devon Energy will lay off 9 percent of staff to boost returns
Devon Energy Corp said on Tuesday it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline operations and boost the shale oil producer’s Continue Reading
Cushing’s oil market clout wanes amid U.S. export boom
The volume of oil sitting in 300 steel tanks in a nine-square-mile radius in Cushing, Oklahoma has long been a key barometer for the health of U.S. crude supply and Continue Reading
Canadian shale drawing super-major interest
The acquisition of drilling rights in thousands of acres in British Columbia by one of the world’s biggest companies is a testament to its potential, Calima Energy said. Conoco Phillips Continue Reading
Permian Bottleneck Could Impact Global Oil Markets
The Permian basin is driving U.S. shale growth, with expectations that the basin will add enormous volumes this year, keeping the oil market well-supplied. But the Permian’s pipeline network is Continue Reading
U.S. drillers add oil rigs for the third week in four: Baker Hughes
U.S. energy companies added oil rigs for the third time in four weeks as crude prices drifted from a three-year high hit earlier this year amid concerns of a trade Continue Reading
Permian Oil Boom Threatens To Overtax Electrical Grid
The shale boom in the Permian where companies are intensively drilling while keeping costs low has led to an unprecedented electricity demand in West Texas, straining the grid as local Continue Reading
Texas Oil Output Surge Clogs Pipelines, Depresses Prices
The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude Continue Reading
Texas oil output surge clogs pipelines, depresses prices
The Permian Basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude Continue Reading
Does Conoco Know Something That Its Competition Doesn’t?
When everyone in oil seems like they are ready to pay anything for a piece of land in the Permian Basin, a report that one oil company is actually selling Continue Reading
Is The Global Oil Market Too Dependent On Prospective Growth In The Permian?
Summary Anticipated US liquids production growth accounts for almost all projected non-OPEC growth in 2018 and 2019. Roughly 70% of US production growth will come from the Permian Basin. This Continue Reading
Shale Breakevens Rise Amid Production Surge
U.S. shale companies are set to increase their capital expenditures by 20 percent this year, while also boosting their production guidance, according to Rystad Energy . Obviously, the Permian is Continue Reading
The Problem with EIA Shale Gas and Tight Oil Forecasts
Each year the U.S. Energy Information Administration (EIA) produces forecasts of U.S. oil and gas production in its Annual Energy Outlook (AEO), which is widely viewed as an authoritative assessment Continue Reading
The Problem with EIA Shale Gas and Tight Oil Forecasts
Each year the U.S. Energy Information Administration (EIA) produces forecasts of U.S. oil and gas production in its Annual Energy Outlook (AEO), which is widely viewed as an authoritative assessment Continue Reading
Wall Street’s Favorite Shale Stocks
Caution, capital discipline, cash flow, shareholder returns – these buzzwords are thrown around a lot these days, much more so than details about aggressive production growth. After years of a Continue Reading
The Bakken Is Booming Once Again
The Permian has been stealing headlines and analyst attention over the past year, and rightly so, as it’s the only U.S. shale play that continued to grow even when all Continue Reading
The U.S. Faces A Pipeline Crisis
The U.S. threatens to swamp the world with oil in the next few years, although that will only be possible if there is a commensurate construction boom for pipelines to Continue Reading
Baker Hughes: With 2-rig loss, US rig count drops for first time this month
In the only decline for the month, the US drilling rig count dropped 2 units to 993 during the week ended Mar. 30, data from Baker Hughes indicate. The report, Continue Reading
Payback Time: Oilfield Services Raise Prices
Oilfield service providers are upping their prices, the latest Dallas Fed Energy Survey has found, confirming what producers began to complain about last year when oil prices started recovering. The Continue Reading
As shale wells grow longer, buyouts attract hemmed in oil producers
A recent drought in oil company mergers and acquisitions could be coming to an end over a new Texas range war: U.S. shale producers are building miles-long horizontal wells that Continue Reading
U.S. oil drillers cut rigs for first week in three: Baker Hughes
U.S. energy companies this week cut oil rigs for the first time in three weeks even as crude prices hover near three-year highs. A man works on the rig of Continue Reading
US Oil Rig Count Dips As Prices Rise
Baker Hughes reported a 2-rig decrease to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 993, which is Continue Reading
Labor shortages in West Texas getting worse
The latest shale drilling boom is driving unemployment to the lowest levels in years in many of the areas that encompass the Permian Basin, a 17-county region that spans West Continue Reading
Texas-Sized Gas Conundrum Plagues America’s Busiest Oil Play
A pipeline shortage that’s leaving gas trapped in the Permian means prices for the fuel there are the lowest of any major US hub. (Bloomberg) — America’s most prolific oil Continue Reading
Shale Breakevens Rise Amid Production Surge
U.S. shale companies are set to increase their capital expenditures by 20 percent this year, while also boosting their production guidance, according to Rystad Energy . Obviously, the Permian is Continue Reading
The Struggle Continues For Bankrupt Shale Drillers
Remember the wave of bankruptcies that hit shale E&Ps and oilfield services providers in the shale patch between 2015 and 2017? Over those two years, more than 120 oil and Continue Reading
$9.5B Deal Creates Biggest Player In The Permian
Concho Resources has struck a deal to acquire natural gas peer RSP Permian for US$9.5 billion in an all-stock deal that is the biggest acquisition in the sector since 2012. Continue Reading
U.S. oil producer costs climb with more drilling: Fed Survey
Oil and gas business activity continued to climb last quarter, driven by an improved oilfield services sector, but costs for goods and labor also rose, the Federal Reserve Bank of Continue Reading
Permian mega-merger expected to save Concho on oil, gas drilling costs
Concho Resources’ $9.5 billion acquisition of rival independent oil and natural gas producer RSP Permian, announced Wednesday, will give the combined company the largest drilling program in the Permian Basin Continue Reading
Concho, RSPP to combine, create largest unconventional shale producer in Permian
Concho Resources Inc., Midland, will acquire RSP Permian Inc. (RSPP) in a $9.5-billion stock transaction to create the largest unconventional shale producer in the Permian basin. The combined company expects to run Continue Reading
India’s Reliance Sells Texas Shale Assets For $100MM
Reliance Industries Ltd said on Tuesday its unit would sell some of its shale assets in the United States to privately held Sundance Energy Inc for $100 million, as the Continue Reading
Mexico takes aim at its section of the Eagle Ford shale
The state energy company in Mexico said it signed on with a partner to help extract natural gas from the Eagle Ford shale reservoir in the country. Petróleos Mexicanos, known Continue Reading
Permian Drillers Prepare For Double-Digit Cost Jump
U.S. shale companies expect a double-digit cost increase in services across the oil patch, and the Permian in particular, as the industry recovered from the downturn and is now growing Continue Reading
Offshore Oil Closes In On Shale
Offshore crude oil extraction, including deepwater, is closing in on shale in terms of cost thanks to new production technologies, a senior Chevron executive said at an industry event, as Continue Reading
For Some Wounded US Drillers, the Oil Rout Never Ended
More than a year after exiting bankruptcy, SandRidge Energy Inc. is stuck in stock-market purgatory. The oil and gas explorer has seen its stock sink 37 percent since October 2016, Continue Reading
Oil Rig Competition Flares Up Amid Permian Boom
Surging U.S. oil production on the one hand, and the exploration and production companies’ focus on keeping costs in check on the other, have prompted drilling rig makers to shift Continue Reading
EIA’s estimates for Texas crude oil production account for incomplete state data
Petroleum Supply Monthly, and the Texas Railroad Commission Crude oil and lease condensate production data for Texas, published by EIA in its Petroleum Supply Monthly (PSM) and by the Texas Continue Reading
Steel tariffs to squeeze oil service, producer margins in West Texas, investors say
The Trump Administration’s steel tariffs will increase costs in the West Texas oil patch at a time when drillers and service firms already faced rising labor and materials costs, investors Continue Reading
Shale Oil Myths: ‘It Is Too Light And No Good’
Shale oil skeptics claim that the global crude supply is turning alarmingly light due to the growth of shale production. The world is facing acute shortages of heavy and medium Continue Reading
Oil Prices Rise Despite Climbing Rig Count
Baker Hughes reported another 6-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 990, which is Continue Reading
U.S. drillers add oil rigs for seventh week in eight: Baker Hughes
U.S. energy companies added oil rigs for the seventh time in the last eight weeks on expectations crude prices in 2018 will top 2017, prompting more drillers to boost spending Continue Reading
Permian gas production surge faces looming market, infrastructure constraints
An unrelenting surge in Permian Basin drilling, which is driving record gas production growth there this year, now appears to be facing market and infrastructure constraints that could come as Continue Reading
U.S. Shale’s Dirty Secret
U.S. shale is surging, threatening to take even more market share away from OPEC. But the prospect of U.S. oil edging out barrels from the Middle East is not nearly Continue Reading
How Will OPEC React To Soaring Shale Production?
In its March Oil Market Report , OPEC revised up its forecast of non-OPEC supply for 2018 by 280,000 bpd, a major revision. That equates to year-on-year growth of 1.66 Continue Reading
EIA Stuns Oil Market With Huge Inventory Build
After plunging oil bulls into deeper gloom by forecasting a 131,000-bpd jump in shale oil production next month, the Energy Information Administration reported a 5-million-barrel increase in crude oil inventories Continue Reading
The Shale Boom: 100 Million Years In The Making
The great oil and gas formations that U.S. shale drillers thrive on have reportedly been traced back to volcanic eruptions from the time of the dinosaurs, over 100 million years Continue Reading
Increased Oil Hedging Hints At Permian Production Boom
Oil hedges have become popular amongst U.S. shale drillers, who have used the financial trick to lock-in higher prices for their raw goods as barrel prices edge higher. The prices Continue Reading
Will US shale give the refining industry indigestion?
In the oil market, not all barrels are created equal. By the end of this year, the US oil industry will be pumping 11m barrels a day of crude, the Continue Reading
U.S. crude inventories seen up for third week, products likely down
U.S. crude inventories were forecast to have risen for the third straight week, while refined product stockpiles likely fell last week, a preliminary Reuters poll showed on Monday. Six analysts Continue Reading