U.S. shale oil output to climb by 38,000 bpd in July -EIA
U.S. oil output from seven major shale formations is expected to rise by about 38,000 barrels per day (bpd) in July to about 7.8 million bpd, the highest since November, Continue Reading
Is Shell About To Turn Its Back On The Permian?
Shell may put up for sale all of its acreage in the Permian in the latest step of a low-carbon push that was most recently spurred by a court ruling Continue Reading
Drilling Productivity Report
NOTE: 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 Continue Reading
Remote Work Is The Newest Trend In Oil And Gas
Remote work was one of the changes bestowed upon us by the pandemic—and it may turn into a long-term trend. This trend was most visible in office jobs, but it Continue Reading
Shell considering sale of holdings in largest U.S. oil field, worth up to $10 billion
Oil giant Royal Dutch Shell is reviewing its holdings in the largest oil field in the United States for a possible sale as the company looks to focus on its Continue Reading
U.S. Oil Rig Count Rises As Crude Prices Climb Higher
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 461 as U.S. drillers Continue Reading
Occidental to sell some Permian basin assets for $508 mln
Occidental Petroleum Corp (OXY.N) said on Thursday it would sell some of its acreage in Texas’ Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for Continue Reading
US oil, gas rig count climbs 8 to 560 on strong Permian activity
The US oil and gas rig count climbed eight to 560 in the week ended June 9, rig data provider Enverus said June 10, as the number of oil-focused rigs Continue Reading
Earthquakes on Record-Breaking Pace in U.S. Shale, Study Finds
The number of earthquakes rattling the U.S. shale patch is growing exponentially as producers pump massive amounts of dirty water from their oil and gas wells back underground. Tremors registering at Continue Reading
Dealmaking In U.S. Shale Patch Heats Up As Oil Prices Rise
Rising oil prices are encouraging U.S. shale producers to put up for sale non-core assets to streamline operations and reduce debt. Property sales have accelerated this year as exploration and Continue Reading
Exxon’s shale output per well slips as total production rises -report
Exxon Mobil Corp (XOM.N) ‘s oil wells in part of a marquee U.S. shale field generated fewer barrels per well as it ramped up overall spending and production, according to Continue Reading
Raw Material Supply Crunch Hits U.S. Shale Oil
As the prices of steel, cement and other raw materials climb higher and higher amid tightening supply, drillers in the U.S. shale patch are facing higher production costs, Bloomberg reports Continue Reading
Analysis: Market for U.S. oil acreage booms along with crude price recovery
A recovery in the price of oil to more than two-year highs is offering a long-awaited opening to companies and private equity firms to shed unloved assets in the U.S. Continue Reading
U.S. Rig Count Falls As Drillers Show Discipline
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell this week, bringing the total rig count to 456—still a more than Continue Reading
Permian Study Finds Overproduction Leading to More Methane Leaks
The energy-rich region of the southwestern U.S. known to geologists and fossil fuel enthusiasts as the Permian Basin has expanded its production more quickly than any other oil and gas Continue Reading
Departure of U.S. oilfield service firms could help margins return
Small U.S. oilfield service companies are selling equipment and shutting their doors as business activity shrank last year and contract prices have remained below profitable levels despite oil-price gains. The Continue Reading
The U.S. Shale Patch Could Be In For Another Wave of Mergers
After last year saw some huge deals in the U.S. shale space, with ConocoPhillips merging with Concho Resources and Chevron buying Devon Energy, among others, it looks that this year Continue Reading
Oil Rig Count Rises As Brent Prices Flirt With $70
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 again this week, bringing the total rig count to 457—a Continue Reading
US oil, gas rig count climbs 4 to 547 as Permian drilling hits 13-month high
Highlights Oil rigs up 1; gas rigs climb 3 Permian rigs up 7 at 244 Bakken output to fall as DUC count declines The US oil and gas rig count Continue Reading
Bakken production forecasts expected to retreat this summer as DUC wells decline
Production to fall 400 MMcf/d by end of summer Operators rely heavily on DUCs during rebound Although Bakken natural gas production rebounded over the past year, volumes look to dip Continue Reading
Shale Drillers Baffle Analysts With $7.4 Billion Merger
Shale investors have been demanding more consolidation in the oil patch. But not exactly a deal like this one. The merger of Cabot Oil & Gas Corp. with Cimarex Energy Co. announced Monday has confounded Continue Reading
Dakota Access Pipeline gains win-win with court ruling and Biden inaction
DAPL ruling bodes well for other legal fights over existing pipelines Developer still awaits environmental review slated for March 2022 completion Energy Transfer has still planned on DAPL capacity expansion Continue Reading
Eagle Ford Insider Reports Prudent Drilling Activity
Discipline. Infrastructure. Storage. What do these three words have in common? They will all likely figure prominently this week in the oil and gas markets, according to a trio of Continue Reading
California Launches Rulemaking To Ban Fracking In 2024
California initiated on Friday the pre-rulemaking stage of proposed legislation that would end fracking in the state in 2024. The Department of Conservation, Geologic Energy Management Division released pre-rulemaking draft Continue Reading
North Dakota Supreme Court Decides In Favor Of Oil Firms In Royalties Case
The oil royalties which producers pay landowners should be calculated at the well, not at a higher price at some point downstream, the North Dakota Supreme Court said this week Continue Reading
Rig Additions In U.S. Top 100 For 2021
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 455—a more Continue Reading
Dakota Access Pipeline will remain open after long legal fight, judge rules
The Dakota Access Pipeline will remain open and continue its flow of Bakken crude oil following a ruling issued May 21 by a federal court, which blamed the US Army Continue Reading
US upstream industry relying on longer lateral drilling to boost cash flows
At a time when squeezing out more oil and gas for less money is a priority for upstream producers, longer laterals are giving a competitive edge in unconventional basins in Continue Reading
US onshore oil producers to keep 2021 output in check even as prices rise
Rystad Energy Press Releases • A gas boom is coming in the US; a closer look at Haynesville and Appalachia reveals records and a risk >> Read here • US Continue Reading
US oil, gas rigs fall 12 to 543 on week, as industry focuses on recovering oil demand
Highlights Permian loses 4 rigs; Eagle Ford down 3 Most basins lost 1-2 rigs on week Oil and gas rigs each decrease 6 Houston — The US oil and gas Continue Reading
U.S. Shale Is Finally Giving Shareholders A Payday
Unlike in the previous downturn in 2015-2016, U.S. shale producers are exiting the 2020 oil price and demand collapse with their promises intact to rein in production growth and return Continue Reading
Crude Oil Inventories See Smaller Than Expected Build
The American Petroleum Institute (API) on Tuesday reported a build in crude oil inventories of 620,000 barrels for the week ending May 14. Analysts had predicted a build of 1.680 Continue Reading
Shale Drillers Show Restraint in Q1
So far, shale explorers are passing the test. (Bloomberg) — So far, shale explorers are passing the test. The industry, much maligned by investors for excessive spending without returns to Continue Reading
EIA ups US unconventional oil output growth estimate for May more than sevenfold
The US Energy Information Administration increased its projection for month-on-month growth in US unconventional oil output for May by more than sevenfold in its latest Drilling Productivity Report. Receive daily Continue Reading
Drilling Productivity Report
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
U.S. Oil Rig Count Soars As WTI Recovers
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 5 this week, bringing the total rig count to 453. In Continue Reading
Baker Hughes Counts 11 More Oil Rigs
Baker Hughes reported the total number of oil rigs operating in the United States and Canada increased by 11 this week. Baker Hughes Co. (NYSE: BKR) on Friday reported the Continue Reading
US oil, gas rigs jump 10 to 555 on week, as optimistic Q1 season wraps
The US oil and gas rig count jumped 10 on the week to 555, rig data provider Enverus said May 13, as upstream operators wrapped up first-quarter calls on an Continue Reading
Oil And Gas Rig Count Climbs Amid Price Rally
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 8 this week, bringing the total rig count to 448. In Continue Reading
Why Exxon And Chevron Are Not Going All-Out In The Permian
The U.S. oil supermajors are leading by example what shale drilling discipline should look like. Neither ExxonMobil nor Chevron are rushing to boost production in the biggest American shale play, Continue Reading
U.S. Shale Pre-Hedge Revenues Set To Hit All-Time High In 2021
The US shale industry is set to achieve a significant milestone in 2021: If WTI futures continue their strong run and average at $60 per barrel this year and natural Continue Reading
New Mexico’s Oil And Gas Royalties Hit Record
New Mexico raked in its highest ever royalty amount from oil and gas leases in April, according to the NM’s State Land Office. The previous record high royalty payments from Continue Reading
U.S. Rig Count Increases To 440 Rigs
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 440. In Continue Reading
M&A Activity In Oil And Gas Drops In March
Mergers and acquisitions in U.S. oil and gas fell by 1.49 percent below the 12-month average last month, according to GlobalData . The biggest deal by far for the month Continue Reading
Oil Trading Giant Looks To Enter The Permian Through Major Asset Sale
Commodity trading major Vitol is reportedly negotiating a deal to acquire the oil wells of Hunt Oil Co. in the Permian Basin. According to Bloomberg , which cited unnamed sources, Continue Reading
Commodity trader Vitol acquires Midland Basin shale acreage in US from Hunt Oil
Upstream assets producing around 40,000 boe/d Associated gas ties in to North American interests Vitol, the world’s largest independent oil trader, has agreed to acquire producing acreage in the Permian’s Continue Reading
Shale CEO Sees Producers Staying Disciplined at $70 Crude Oil
America’s shale producers will keep output in check even as global crude oil prices near $70 a barrel, Ovintiv Inc. Chief Executive Officer Doug Suttles said in an interview with Bloomberg Continue Reading
US land drillers see improving activity in 2021 as E&Ps expand operating spheres
US land drillers’ rig counts are continuing to inch forward, and exploration and production companies are enjoying lower costs as they reap the benefits of efficiency improvements, with increasing activity Continue Reading
US oil, gas rig count climbs 8 to 538, gas rigs hit 1-year high: Enverus
The US oil and gas rig count climbed eight to 538 in the week ended April 28, rig data provider Enverus said, as the number of active gas rigs hit Continue Reading
Oil-rich Bakken Shale shows promise of natural gas growth despite fewer rigs
Although oil production in most US shale basins is not expected to reach pre-coronavirus levels until at least late 2023, additional processing and higher gas-to-oil ratios might still lead to Continue Reading