The US oil and gas rig count fell three to 621 on the week, energy analytics and software company Enverus said Aug. 26, with the Permian up four as the Continue Reading
Pioneer Natural Resources Co. , the largest oil producer in the Permian Basin, is requiring new hires to be vaccinated against Covid-19 as inoculation and mask mandates proliferate across the Continue Reading
A new study shows the potential for widespread surface water pollution from hydraulic fracturing like at this drilling site in Western Colorado. Credit: Bob Berwyn Fossil fuels don’t just damage Continue Reading
U.S. energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to Continue Reading
The number of oil and gas rigs in the United States rose by 3 this week, according to Baker Hughes —after rising by 9 last week. The total rig count Continue Reading
Between 69 and 84 percent of observed methane gas flares in Texas were unpermitted, environmental group Earthworks said in a report published on Thursday, which says the Railroad Commission of Continue Reading
Back in April, we reported that U.S. oil and gas companies were still filing for bankruptcy at record levels right in the midst of an oil price recovery. Smaller producers Continue Reading
Oil producers such as Exxon Mobil (XOM.N) and Royal Dutch Shell (RDSa.L) are burning off gas in the largest oil field in the United States without required Texas state permits, Continue Reading
Dallas Cowboys owner Jerry Jones’ Comstock Resources (CRK.N) oil company is offering to sell properties in North Dakota’s Bakken oilfield, a marketing document seen by Reuters shows, as rising energy Continue Reading
ConocoPhillips is marketing its Williston Basin oil assets for a potential sale, according to people with knowledge of the matter. The company estimates it could fetch roughly $200 million for Continue Reading
U.S. shale oil output is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since May 2020, according to the Energy Information Administration’s monthly drilling Continue Reading
The Drilling Productivity Report (DPR) rig productivity metric new-well oil/natural gas production per rig can become unstable during periods of rapid decreases or increases in the number of active rigs Continue Reading
The number of oil and gas rigs in the United States rose by 9 this week, according to Baker Hughes —after rising by 3 last week. The total rig count Continue Reading
U.S. energy firms added the most oil rigs in a week since April as the total rig count more than doubled from a record low a year ago amid a Continue Reading
The global gas rally left a bitter aftertaste for one U.S. shale driller that posted negative revenue after it had to write down the value of its output hedges. Vine Continue Reading
Highlights Bakken sees biggest weekly change, up 3 to 25 Permian Basin down by 1 rig, leaving 257 2022 operator thought suggests caution on oil markets The US oil and Continue Reading
Shale drillers — some of them just emerging from bankruptcy — racked up a staggering $42 billion in new debt in the first half of the year. It’s not what Continue Reading
The region at the heart of the once-booming U.S. shale industry is signaling confidence in a nascent recovery after the pandemic crushed demand and curtailed oil and gas drilling. (Bloomberg) Continue Reading
Shale drillers — some of them just emerging from bankruptcy — racked up a staggering $42 billion in new debt in the first half of the year. It’s not what Continue Reading
Exxon Mobil Corp (XOM.N) has begun marketing U.S. shale gas properties as it ramps up a long-stalled program that aims to raise billions of dollars to shed unwanted assets and Continue Reading
The North Dakota area of the Bakken LTO basin has accessible data from the ND Department of Natural Resources, Oil and Gas Division. Production here seems to be past peak Continue Reading
The number of oil and gas rigs in the United States rose by 3 this week, according to Baker Hughes —after falling by 3 last week. a The total rig Continue Reading
Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, people familiar with the matter said. (Bloomberg) — Devon Energy Continue Reading
Shale explorers are facing almost $12 billion in losses this year from bad bets on oil after a global rally, according to BloombergNEF. (Bloomberg) — Shale explorers are facing almost Continue Reading
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in Continue Reading
Mergers and acquisitions are how an industry normally handles tough times. Asset prices drop, some companies can no longer survive on their own and become targets for those with the Continue Reading
The lack of growth in shale production, currently inching higher but primarily from DUC- Drilled but Uncompleted wells, has been largely attributed to capital discipline. Shale companies have spoken almost Continue Reading
New Mexico broke an oil production record in May, pumping an average 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports , citing government Continue Reading
New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic. (Bloomberg) — New Mexico’s oil Continue Reading
New Mexico’s oil production surged to a record in May, lifting output to the second-highest in the nation and highlighting the Permian Basin’s role in leading the shale industry’s rebound Continue Reading
The number of oil and gas rigs in the United States fell by 3 this week, according to Baker Hughes , which reported the total rig count as 488, up Continue Reading
Highlights CEO details decarbonization plans after climate pushback Woods takes cautious tone, saying projects will take time ExxonMobil pumped 400,000 b/d of oil equivalent from the Permian Basin in Q2 Continue Reading
Highlights Permian count drops 6, Eagle Ford down 3 Haynesville activity highest since 2019 Strong gas prices could test producer discipline The US oil and gas rig count fell five Continue Reading
U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp (HES.N) said on Wednesday, sticking to its spending plan despite rising demand to Continue Reading
Highlights Pilot planned on two blocks Project seen opening new opportunities in shale play YPF also to invest in tertiary recovery YPF, the biggest oil producer and second for natural Continue Reading
A wave of dealmaking in America’s shale patch is intensifying, wiping out weak players and leaving the once-fractured sector in the hands of a new breed of “super independents”. More Continue Reading
Oil has dominated global economics and dictated the shape, terms, and function of the geopolitical map for nearly 200 years. While two centuries is the merest of blips on the Continue Reading
The USA rig count rose again this week. The U.S. rotary rig count is within striking distance of hitting the 500 mark, adding seven rigs to reach 491 this week, Continue Reading
Schlumberger delivers optimistic outlook for North American and international oil markets Reports earnings of 30 cents per share, beating Wall Street estimates of 26 cents per share Operating margins almost Continue Reading
The number of oil and gas rigs in the United States is up 7 this week, according to Baker Hughes , which pegged the total rig count at 491, up Continue Reading
Permian Basin adds rigs: up 11 to 259 Oil jump likely caused recent rig adds 50-100+ more US rigs may start up in H2 The US oil and gas rig Continue Reading
The U.S. oil and gas sector is recovering from last year’s market slump. But unlike the previous boom-and-bust cycles, the industry has held off on boosting production and has focused Continue Reading
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Continue Reading
The United States shale sector is at a crossroads. Houston, the capital of the nation’s oil and gas industry, is at the metaphorical and industrial center of a struggle for Continue Reading
Oilfield company Halliburton Co (HAL.N) on Tuesday topped Wall Street earnings estimates and offered an upbeat view for energy services demand as the downturn in oil drilling activity recedes. The Continue Reading
Chief executives at US shale companies are continuing to receive bumper pay packets despite years of dismal returns, according to a new report. While most US oil bosses had their Continue Reading
U.S. energy firms added oil and natural gas rigs for a third week in a row for the first time since May even though oil prices eased for a second Continue Reading
Energy companies are raising money again from Wall Street at superlow borrowing costs, thanks in part to higher oil prices. The one thing most investors don’t want them to do Continue Reading
New Mexico, the Land of Enchantment, was concerned when Biden’s pause on oil and gas drilling leases took hold, but six months into the new administration the state’s oil industry Continue Reading
Consolidation is a troubled industry’s best friend—and last year’s crisis in oil and gas brought about by the pandemic was no exception. Mergers and acquisitions started later than they normally Continue Reading
