Nearly 85,000 people in the U.S. oilfield services industry have lost their jobs due to the pandemic-driven oil price crash and demand destruction, Houston-based Petroleum Equipment and Services Association (PESA) Continue Reading
The rebalancing of the oil market has been possible, in part, due to the sharp cutbacks in U.S. shale production. But what happens next for the industry? The latest data Continue Reading
If the carnage that took place in the U.S. shale oil patch during the first quarter of 2020 is any indication of the financial health of the industry, just wait Continue Reading
US shale oil production will slip to 7.632 million b/d in July, down 93,000 b/d from June and the lowest in two years, the US Energy Information Administration said June Continue Reading
Once the global oil market emerges from the coronavirus crisis, it may be greeted by a surprising change: greater dependence on crude from OPEC. For the time being, the Organization of Continue Reading
The U.S. Shale Oil Industry is in serious trouble, even without the negative impacts of the global contagion. While it’s no secret that shale oil wells suffer high decline rates, Continue Reading
Explorers slashed drilling in the world’s biggest shale patch for a 13th straight week as they wrangle with a global pandemic that’s crimping demand for crude and leaving many strapped Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 5, to 279, with the total oil and gas Continue Reading
North Dakota oil production averaged 1.219 million b/d in April, down about 211,000 b/d or 15% from March, the North Dakota Pipeline Authority said June 12. Receive daily email alerts, Continue Reading
Extraction Oil & Gas Inc. plans to pay 16 executives and senior managers a total of $6.7 million in return for staying with the Colorado-based driller ahead of a possible Continue Reading
