Shale Producers Face $42 Billion In Hedging Losses
BloombergNEF: hedging losses are mounting in U.S. shale. Hess Corp found itself spending $325 million in March to exit hedges at a serious loss. Shale giant Pioneer lost $2 billion Continue Reading
Oilfield services bounce back as US drilling boom gathers pace
A drilling boom in America’s oil heartlands has triggered a sharp reversal of fortunes for the country’s long-suffering oilfield services groups as they reap the rewards of the scramble to Continue Reading
The U.S. Shale Patch Is Facing A Plethora Of Problems
Mr. Messler is an oilfield veteran, recently retired from a major service company. During his thirty-eight year career he worked on six-continents in field and… The U.S. government appears to Continue Reading
Chevron to Ramp Up Production at Biggest USA Oil Field
Chevron will produce the equivalent of about 725,000 barrels of oil daily in the Permian Basin this year. Chevron Corp. lifted its production target in North America’s biggest oil field Continue Reading
U.S. drillers add oil and gas rigs for record 21 months a row -Baker Hughes
U.S. energy firms last week added oil and natural gas rigs for a record 21 months in a row as high prices and prodding by the federal government prompted some Continue Reading
The Rig Count Climbs As Markets Clamor For More Oil
The rig count has increased once again, hitting levels not seen since April 2020. Russia’s invasion of Ukraine has only added to the demand for drilling, with the rig count Continue Reading
North American oil companies scramble to find workers despite boom
When Jeremy Davis was laid off from his oilfield job in Texas in 2020, he did not want to leave the industry after 17 years in oil and gas. But Continue Reading
Fracking Boom Turns Texas Into the Earthquake Capital of the U.S.
Earthquakes were never anything people in West Texas thought much about. Years would pass in between tremors that anybody felt. Even after the shale revolution arrived in force a decade Continue Reading
Extreme Weather Leads To Sharp Drop In North Dakota Oil Production
A recent bout of bad weather has slashed oil production in North Dakota by almost 80 percent, and restoring the lost output could take several days. North Dakota, home to Continue Reading
In the Top U.S. Oil Field, a Battle for Materials Crimps Growth
America’s most prolific oil field is running out of the workers, cash and equipment needed to produce more oil. In the Permian Basin, the sprawling oil-rich region in West Texas Continue Reading