Shutting Down Oil Wells, a Risky and Expensive Option
The temporary shutting in of wells is the one thing that oil companies are trying to avoid at all costs. That’s because restarting production is expensive and wells are not Continue Reading
U.S. Shale Is Living Beyond Its Means
Global investment in energy will fall by $400 billion in 2020, the largest single-year decline in history. U.S. shale will be hit particularly hard, with capex set to fall in Continue Reading
Shut-in, even new wells may be attractive at $30s/b WTI: analysts
NYMEX crude futures have risen above the $30/b level that represents breakeven for many US upstream operators, which could result in some restoration of shut-in wells soon as the economic Continue Reading
Oil CEO Says US Shale Rebound Is At Least a Year Away
US shale drillers may still take at least a year before moving rigs back into the field. (Bloomberg) — Even if the economy continues to recover and a second wave Continue Reading
Permian Drillers Resilient Despite Record-Breaking Rig Count Crash
Although the Covid-19 pandemic continues to decimate active horizontal rigs in the US, the Permian Basin is emerging as the last surviving epicenter of drilling activity, a Rystad Energy analysis Continue Reading
Texas Economy Could Lose $24B If Oil Prices Stay In The $30s
The downturn in the U.S. oil industry could lead to more than US$24 billion of lost GDP for Texas alone, if oil prices remain in the $30s, Ed Hirs, Energy Continue Reading
Investment in U.S. Shale Projects to Halve in 2020, IEA Says
Investment in the U.S. shale sector will drop by half this year, the International Energy Agency said Wednesday, predicting a period of pain for producers, even as oil prices rally. Continue Reading
Will U.S. Shale Survive If Oil Hits $40?
Within a month, the U.S. oil benchmark West Texas Intermediate recorded two first-of-a-kind events. First, it fell below zero on April 20. Then, it soared up so high it is Continue Reading
US shale industry braces for wave of bankruptcies
The biggest independent shale oil groups in the US reported a record combined loss of $26bn in the first quarter as the sector braces itself for a wave of bankruptcies Continue Reading
Shale Bust Hits Rural Communities As Oil Royalties Plunge
The oil price collapse is hurting not only U.S. shale firms and their drilling activities. The crash has severely crippled the royalty payments to a dozen million American oil and Continue Reading