Exporting US Shale Boom Has Changed Oil Forever
The shale boom has turned the U.S. into the world’s largest oil producer and has moved it ever closer to ending dependence on Middle East oil. (Bloomberg) — Five years Continue Reading
Oil, Gas Rigs Increase For Seventh Straight Week
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 9 to 360. The oil and gas rig count has risen Continue Reading
Permian Basin- The Death of Tight Oil Has Been Greatly Exaggerated
The future of tight oil output in the US will depend in large part on future development of Permian Basin resources in Texas and New Mexico. I have developed nine Continue Reading
Baker Hughes Reveals 67 Additional Rigs
The number of rotary drilling rigs operating in the US and Canada rose by 67 this week, Baker Hughes reported Friday. The number of rotary drilling rigs operating in the Continue Reading
US oil, gas rig count slips by 1 to 406; Permian posts 6-rig loss
The US oil and gas rig count slipped by one to 406 in the week ending Jan. 6, rig data provider Enverus said, with the Permian Basin posting a six-rig Continue Reading
Shale CEOs Urge Production Restraint
The new boss of Devon Energy said he won’t let this week’s rally in oil prices tempt him to return to the days of rampant production growth at any cost. Continue Reading
U.S. Banks Don’t Want To Be Forced To Lend Money To Oil & Gas
U.S. banks want to continue choosing whether to lend money to the oil and gas industry according to risk and reputation management practices, asking a regulator not to proceed with Continue Reading
US crude inventories move sharply lower amid strong exports, rising refinery utilization
US crude oil inventories saw their largest decline since July in the week ended Jan. 1 on the back of strong exports and rising refinery demand, US Energy Information Administration Continue Reading
Shale Needs More to Boom Again
Don’t count on America’s shale industry to boom once again in response to $50 per barrel oil and Saudi Arabia’s plan to throttle back its own oil production. (Bloomberg) — Continue Reading
Default warning as US energy sector’s financial woes persist
Defaults by US oil and gas producers are set to outstrip all other sectors again in 2021 as an industry battered by this year’s price crash faces yet more pain, Continue Reading