We Can’t Drill Our Way to Energy Security
Thanks to a remarkable oil and gas boom, the United States has achieved the long-sought goal of energy self-sufficiency: We now produce more oil and refined products, natural gas and Continue Reading
U.S. Rig Count Continues To Rise As WTI Hits $110
The number of total active drilling rigs in the United States rose by 9 this week, on top of the 7 rig increase in the week prior, according to new Continue Reading
Soaring Costs Set To Hurt U.S. Shale Production
Soaring Production Costs Stoke Fears of US Shale Slowdown – Just as US shale producers were poised to capitalize on high crude prices and bring new production to the markets, Continue Reading
US oil, gas rig count gains three, totaling 806 on week; Bakken highest since April 2020: Enverus
Highlights Permian adds most rigs on week, up 4 to 329 Most basins gain rigs; only DJ loses a rig Total rig count is approaching pre-pandemic levels The US oil Continue Reading
US Crude Output Growth Expected to Slow Amid Soaring Costs
American drillers will increase oil production at a slower pace than previously expected amid surging costs, stymieing the Biden administration’s hope that the industry will boost output to tame fuel Continue Reading
U.S. Shale Swings From Losses To Record Cash Flows
U.S. shale focuses on returning capital to shareholders in 2022. Deloitte: the shale patch is on track for massive free cash flows of a combined $172 billion in 2022 alone. Continue Reading
Oil Prices Top $100, Yet Some Big U.S. Frackers Let Their Production Fall
The Biden administration has urged the industry to step up production. Oil prices are at their highest in years and politicians want companies to pump more. But most large American Continue Reading
U.S. Rig Count Ticks Higher As Oil Prices Head For Another Weekly Gain
The number of total active drilling rigs in the United States rose by 7 this week, after an increase of 3 rigs in the week prior, according to new data Continue Reading
Permian crude volumes surge despite supply chain hindrances: NuStar
Frack crew, supply chain shortages slow growth More bullishness on growth in 2023 Crude oil volumes out of the Permian Basin are still rising to new highs despite supply chain Continue Reading
Oilfield Services Are Set For Years Of Profits
After suffering through a wave of bankruptcies during the covid pandemic, the oilfield services sector is bouncing back in a big way as the world attempts to boost oil production. Continue Reading