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
Shale Boom Creates New U.S. Oil Export Hub
Soaring Permian oil production, increased pipeline takeaway capacity, and a port expansion to accommodate larger vessels position the Texas port of Corpus Christi to become the U.S. oil export hub Continue Reading
Oil Bust Was Actually Good for a Town Called ‘Shale City’
As the price of oil goes, so goes Williston, North Dakota. Now, though, the community located deep in the state’s Bakken shale play is working to break free from the Continue Reading
EIA: U.S. Shale Oil Output To Jump 131,000 Bpd In April
Shale output at seven major U.S. oil and gas plays will climb by 131,000 barrels per day next month to hit a 6.954 million bpd according to a new report Continue Reading
U.S. Oil Rig Count Falls As Gas Rig Count Soars
Baker Hughes reported another 3-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 984, which is Continue Reading
Permian Investments Represent $2 Of Every $10 In Global OFS Spend
Investments in the Permian Basin represent $2 of every $10 spent on oilfield services and equipment worldwide, according to analysis by an Oklahoma-based consulting firm. Spears & Associates said spending Continue Reading
With higher oil prices holding, producers stick to restraint
The fourth quarter upstream earnings season raised multiple issues in the oil patch. But the biggest theme was really a single, solid dilemma: can E&P operators hit their production growth Continue Reading
Saudi Arabia Plans Its Own Shale Revolution
Saudi Arabia has big gas plans, with Aramco eyeing a twofold increase in its natural gas production over the next ten years as it seeks to switch local power plants Continue Reading
BHP says will consider asset swaps as part of shale exit
Global miner BHP will consider swapping certain onshore oil and gas assets with competitors’ offshore assets, as part of its effort to exit U.S. shale formations, Steve Pastor, BHP’s president Continue Reading
ESTIMATING TEXAS PRODUCTION-BRIDGING THE GAP
) The Texas Railroad Commission (RRC) had the oil and gas production reported online in early 2005, and became fully online for producers and the public on Feb 14, 2005. Continue Reading
The Only Oil Major Not Buying Into The Permian
The Permian has been attracting independent U.S. drillers and oil majors who want to capitalize on short-cycle returns in the world’s hottest shale play, but one of the world’s supermajors Continue Reading
Former EOG CEO Papa questions forecasts of soaring U.S. oil production
U.S. oil production will not keep growing as fast as the market seems to think, as most of the best drilling locations in North Dakota and south Texas already have Continue Reading
EIA raises U.S. oil output growth forecast for 2018
The U.S. government said on Tuesday it expects domestic crude production in 2018 to rise over 120,000 barrels per day (bpd) more than previously expected as shale output surges. Shale Continue Reading
U.S. shale and OPEC share steak in uneasy truce at Houston dinner
Around the room at Houston’s The Grove restaurant on Monday, at several tables, sat a group of shale executives, interspersed with energy ministers and officials representing OPEC members, where they Continue Reading
Is The Sky The Limit For U.S. Shale?
The IEA’s forecast that U.S. shale will dominate the oil market over the next three years because of skyrocketing shale production made global headlines on Monday, but the conclusions should Continue Reading
Shale Trailblazer Turns Skeptic on Soaring U.S. Oil Production
One of the pioneers of the U.S. shale boom plans to deliver a surprising message at a major energy conference here this week: U.S. oil production won’t keep growing as Continue Reading
Exec: Statoil Has Room To Grow More In North Dakota’s Bakken
Statoil has plenty of growth opportunities left in North Dakota’s Bakken shale formation, an executive says. Statoil ASA, the Norwegian state-controlled oil producer, has plenty of growth opportunities left in Continue Reading
IEA Predicts Nightmare Scenario For OPEC
Over the next three years, the U.S. will cover 80 percent of the world’s demand growth, the IEA says in its newly-released Oil 2018 annual report. Canada, Brazil and Norway Continue Reading
IEA sees U.S. oil output surge stealing OPEC share in next five years
U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world’s top oil importer, closer Continue Reading
U.S. Will Be the World’s Largest Oil Producer by 2023, Says IEA
The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. Continue Reading
Shale Boom Could Create A Refining Bottleneck
The growth in U.S. shale oil production is threatening to create bottlenecks in refineries, new research from Wood Mackenzie has revealed . The research suggests the United States needs new Continue Reading
U.S. Will Be the World’s Largest Oil Producer by 2023, Says IEA
The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. Continue Reading
The Truth About U.S. Energy Dominance
Much of the media coverage of the American energy industry implies that America has become a vast and growing exporter of energy to the rest of the world and that Continue Reading
U.S. Will Be the World’s Largest Oil Producer by 2023, Says IEA
The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. Continue Reading
What Record Oil Production In The Permian Basin Looks Like
Last week, my day job took me to the Permian Basin. A colleague and I arrived late at night at our hotel in Fort Stockton, Texas. The hotel parking lot was full. The Continue Reading
EIA’s Shocking U.S. Oil Production Predictions
Between 2010 and 2015, annual oil production in the U.S. grew by four million barrels per day (BPD). Production dipped in 2016, but then U.S. crude oil production again rose Continue Reading
Oil Prices Are Sensitive to Drilling Activity
The Permian Basin is now the world’s swing oil producer, with a lag. WTI is $63/bbl, down from its January high near $67/bbl. Brent is selling near $67/bbl, with a Continue Reading
Oil Explorers Lift Rig Count to 800 First Time Since 2015
US oil explorers raised the rig count to 800 for the first time in almost three years. (Bloomberg) — U.S. oil explorers raised the rig count to 800 for the Continue Reading
Should OPEC And U.S. Shale Collaborate For Survival?
Oil and gas is a trillion dollar industry, and every actor within it, be it national oil companies, multinationals, independents or oilfield services companies, has a stake in oil and Continue Reading
U.S. Shale Surge Offsets Lowest Saudi Oil Imports Since 1980s
American crude production rose to record in November U.S. petroleum exports soared to fresh highs in 2017 America’s role in the global oil market was flipped on its head in Continue Reading
Texas oil production topped 1 billion barrels last year
Total crude oil production from Texas last year topped 1 billion barrels and daily production in December was 5 percent higher year-on-year, data show. Texas is the No. 1 oil Continue Reading
SandRidge Lays Off 30% of Oklahoma City Staff
As the company restructures, SandRidge Energy has determined a need for staff reductions at its headquarters. SandRidge Energy Inc. is laying off 30 percent of its workforce (80 employees) at Continue Reading
Shale Drillers Are Supersizing Fracking
Shale drillers have squeezed more oil out of a given well over the past few years by becoming more efficient in their drilling operations. But the industry is still scaling Continue Reading
Shale bonanza means US oil production at a 50-year high
As shale oil makes a comeback, the United States could outstrip Russia and Saudi Arabia to become the world’s biggest oil producer. But is this new boom in black gold Continue Reading
U.S. shale investors still waiting on payoff from oil boom
U.S. oil production has topped 10 million barrels per day, approaching a record set in 1970, but many investors in the companies driving the shale oil revolution are still waiting Continue Reading
Rig Count Inches Higher As Oil Prices Stabilize
The total number of oil and gas rigs now stands at 978, which is an addition of 224 rigs year over year. The number of oil rigs in the United Continue Reading
Baker Hughes: US Oil Rig Count Rises For Fifth Straight Week
US energy companies added one oil rig this week, the fifth weekly increase in a row, as oil prices hovered at two-week highs. Feb 23 (Reuters) – U.S. energy companies Continue Reading
Saudi Arabia Looks To Profit From The U.S. Shale Boom
Saudi Arabia’s Aramco has considered the possibility of shipping U.S. crude via its Motiva unit to Asia, a source in the know has told Bloomberg. The company decided that for Continue Reading
Oil Jumps as Surprise U.S. Supply Drop Dispels Shale Boom Fears
Nationwide crude inventories fell by most in five weeks: EIA Cushing storage at lowest since 2014 as crude exports surge Oil surged to the highest in two weeks as American Continue Reading
Tight oil remains the leading source of future U.S. crude oil production
Source: U.S. Energy Information Administration, Annual Energy Outlook 2018 EIA’s recently released Annual Energy Outlook 2018 (AEO2018) Reference case projects that U.S. tight oil production will generally increase through the Continue Reading
Continental Resources posts record for Bakken shale production
Net production from the Bakken shale reservoir in North Dakota set an all-time high for the company in the fourth quarter, Continental Resources said. Continental is one of the more Continue Reading
U.S. shale investors still waiting on payoff from oil boom
U.S. oil production has topped 10 million barrels per day, approaching a record set in 1970, but many investors in the companies driving the shale oil revolution are still waiting Continue Reading
BHP expecting bids for its U.S. shale holdings by June
In reporting its results for the second half of 2017, Australian mining giant BHP Billiton said it’s expecting initial bids for its U.S. shale assets by June. The company said Continue Reading
America’s Emerging Petro Economy Flips the Impact of Oil
The effect of oil prices on the U.S. economy used to be straightforward: Higher was bad. Yet between 2014 and early 2016, as oil collapsed , growth slowed sharply. Since Continue Reading
Frac Sand Shortage Threatens Shale Boom
Halliburton said last week that its earnings could be negatively impacted because of bottlenecks related to the supply of frac sand used in shale drilling. The Wall Street Journal reported Continue Reading
In the deepwater vs shale oil contest, Shell backs both
Royal Dutch Shell will expand deepwater output and turn a profit from its shale production in coming years as both together will help the oil major cope with a world Continue Reading
U.S. drillers add oil rigs for fourth consecutive week: Baker Hughes
U.S. energy companies added oil rigs for a fourth week in a row even though crude pulled back from three-year highs over the past couple of weeks as more drillers Continue Reading
Continental Resources expecting steady production gains
Ahead of its fourth quarter report, U.S. shale company Continental Resources said it expects its net production to grow by at least 15 percent. Total U.S. oil production is a Continue Reading
UK Shale Industry Prospects Remain ‘Widely Bearish’
Prospects for the UK shale industry remain ‘widely bearish’, according to oil and gas analysts at BMI Research. Prospects for the UK shale industry remain ‘widely bearish’, according to oil Continue Reading
U.S. Oil Production Is Rising Much Faster Than Expected
Shale executives have gone to great lengths to convince investors that they will not drill aggressively now that oil prices have rallied into the $60s. But in a new report Continue Reading