U.S. Shale Needs To Rethink Its Strategy To Survive
U.S. shale is hurting. While the entire global energy industry has been hit hard by the novel coronavirus pandemic and its disastrous effect on oil prices and oil demand, West Continue Reading
Oil Rig Count Collapse Beginning To Slow
Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week, by 2, to 263, showing the second small loss in Continue Reading
U.S. Shale Scrambles For Credit With Oil At $40
U.S. oil and gas companies are scrambling for credit, with lenders tightening their purse strings as oil prices continue to sit below $40 per barrel. Oil and gas lenders have Continue Reading
US oil, gas rig count falls 6 to 285 as industry begins to stabilize
After consecutive weeks of single-digit declines, the US oil and gas rig count may have essentially reached its long-awaited bottom. The US oil and gas rig count fell by six Continue Reading
$40 Oil Isn’t Enough To Prevent A Wave Of Shale Bankruptcies
The coronavirus pandemic and the oil price collapse are accelerating the pace of bankruptcy filings in the U.S. shale patch this year. The number of filings had already started to Continue Reading
Crude-by-rail flows from US Midwest to West Coast fall 28% on month in April: EIA
Crude-by-rail shipments from the US Midwest to the West Coast fell 28% month on month to 157,000 b/d in April amid lower refining runs and plunging North Dakota oil production, Continue Reading
Chesapeake’s Collapse Is Latest in Long Line of Shale Busts
The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest Continue Reading
How The Fed Bailed Out U.S. Oil And Gas
The Trump administration has taken dozens of actions during the Covid-19 pandemic to benefit the oil and gas industry, such as opening new lands for leasing, watering down environmental protections, Continue Reading
30% Of U.S. Shale Drillers Could Go Under
U.S. shale was one of the big losers of the Saudi-Russian price war that many saw as a war on U.S. shale. Producers scrambled to stay afloat as prices sank Continue Reading
Has The Rig Count Collapse Finally Bottomed Out?
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 1. Canada’s overall rig count fell this week by Continue Reading