As Covid-19 shock waves reverberate across U.S. oil towns, perhaps nowhere is their speed and severity more apparent than in America’s newest shale powerhouse. Just months ago, New Mexico, the third-biggest Continue Reading
In the 15 years since the first U.S. shale boom, the industry as a whole has failed to return a profit. Deloitte estimates that the coming wave of write-downs could Continue Reading
As Covid-19 shock waves reverberate across U.S. oil towns, perhaps nowhere is their speed and severity more apparent than in America’s newest shale powerhouse. Just months ago, New Mexico, the Continue Reading
US shale companies could be forced to write down $3oobn of their assets this year, starting in the second quarter, as operators begin to account for the oil price collapse Continue Reading
Don’t expect the oil price rout to trigger a wave of M&A activity any time soon. The last Big Oil M&A wave turned into a disaster for the acquiring companies. Continue Reading
Oil exploration shrank for a 14th straight week in U.S. fields amid weak crude prices and skepticism about a recovery in energy demand. Drillers idled 10 oil rigs in onshore U.S. Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 13, to 266. Canada’s overall rig count fell this Continue Reading
The oil industry continues to struggle with some of the biggest names in the sector being forced to drastically cut costs Chesapeake faces the very real prospect of bankruptcy, having Continue Reading
Oil continued its comeback, buoyed by signs of increasing demand as cities emerge from lockdown. But fears of a second wave of the virus, combined with record-high stockpiles in the Continue Reading
Oil producers all over the world are struggling with a slump in demand that has driven the lower-for-longer price forecasts. High-cost producers are between a rock and a hard place Continue Reading
