Will Private Shale Firms Crush The OPEC Oil Rally?
This year’s rally in oil prices brings back an all-too-familiar question for the oil market and the OPEC+ group: Will U.S. shale come back faster than expected to ruin the Continue Reading
Spotlight: After the thaw: US shale production quickly recovers, refinery outages to take longer
Temperatures dipped far below normal levels in the mid-region of the US during the week ending Feb. 19, causing substantial production freeze offs and power outages at refineries, terminals, and Continue Reading
CERAWEEK: Permian Basin oil growth may hinge on ExxonMobil, Chevron activity: Sheffield
Highlights Basin capable of 200,000 b/d growth for some years Pioneer, with Parsley add, now has 20 rigs in basin Majors greatly reduced Permian rigs in past year Houston — Continue Reading
Dying oil companies’ parting gift: millions in cleanup costs
When Weatherly Oil and Gas filed for bankruptcy in February 2019, the company was walking away from several hundred Texas wells. Many hadn’t produced a drop of oil in years. Continue Reading
Oil Workers Move To Renewable Jobs, But The Pay Is Lower
As thousands of oil and gas jobs disappeared during the oil price and demand crash last year, more and more former oil workers moved to jobs in the clean energy Continue Reading
Oil Rig Count Inches Higher As Prices Drop
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 this week. The total number of active oil and gas Continue Reading
US oil, gas rig count steady at 461; Permian total at 9-month high: Enverus
Highlights Permian operators add 5 rigs week on week Potential DAPL shutdown widens Willison-Clearbrook spreads EcoPetrol to triple Permian investment The US oil and gas rig count stood steady at Continue Reading
A Key Fracking Indicator Just Hit Record Lows
Oil prices have staged an extraordinary rally in the last three months, rising by 50%. Biden’s presidency, the vaccine rollout, a weak dollar, low interest rates, no inflation, and hopes Continue Reading
U.S. Shale’s Struggles Will Be Help OPEC Stabilize Oil Prices
OPEC and its allies could find managing supply to the oil market easier this year, as U.S. shale producers are still not rushing to accelerate output at $60 oil, OPEC Continue Reading
Oil producers eye long road to recovery as Texas begins to thaw
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut Continue Reading