Drilling Productivity Report
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
Halliburton shares fall as North America lags
Shares of oilfield firm Halliburton Co fell sharply on Tuesday after the company forecast lower revenues in key business areas in the first quarter, overshadowing a quarterly profit beat and Continue Reading
U.S. shale boom set to cool in 2019: Kemp
U.S. crude oil production will continue to grow through 2019 and 2020, but at a much slower pace than in 2018, according to the latest forecasts from the U.S. Energy Continue Reading
Oil Flat As U.S. Drilling Slows Down
Oil prices were up early on Monday, steadying at a two-month high last seen in mid-November, as the plunging U.S. rig count last week signaled a slowdown in shale drilling Continue Reading
Huge Backlog Could Trigger New Wave Of Shale Oil
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog Continue Reading
US Oil, Gas Rig Count Plummets As Oil Prices Surge
Baker Hughes reported a drastic reduction to the number of active oil and gas in the United States this week. The total number of active oil and gas drilling rigs Continue Reading
US Drops 25 Oil and Gas Rigs This Week
This marks the third consecutive week of rig declines for the US. The United States dropped a whopping 21 oil rigs this week, marking the third consecutive week of declines Continue Reading
Low Oil Prices Are Not The Only Problem For The Permian
While low oil prices are beginning to slow the growth of U.S. shale , in the years ahead oil and gas drilling could be curtailed by a different problem: a Continue Reading
Fracking in 2018: Another Year of Pretending to Make Money
2018 was the year the oil and gas industry promised that its darling, the shale fracking revolution, would stop focusing on endless production and instead turn a profit for its Continue Reading
Art Berman: Exposing The False Promise Of Shale Oil
Art Berman, geological consultant with over 37 years experience in petroleum exploration and production, returns to the podcast this week to debunk much of the hopium currently surrounding America’s shale Continue Reading
Offshore Spending To Overtake Shale In 2019
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector Continue Reading
U.S. Oil Outlook Slammed By Lower Prices
The recent slide in oil prices may finally start impacting U.S. oil production forecasts. The plunge in oil prices in November and December spread gloom around the industry. Comments from Continue Reading
Permian Shale Oil Boom Holds Mixed News for OPEC
The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014. A new production cuts deal with Continue Reading
Fracked Shale Oil Wells Drying Up Faster than Predicted, Wall Street Journal Finds
In 2015, Pioneer Natural Resources filed a report with the federal Securities and Exchange Commission, in which the shale drilling and fracking company said that it was “drilling the most Continue Reading
How Supermajors Are Transforming The Permian
The Permian Basin was once a hotbed of small, independent prospectors, wide-eyed wildcatters, and small companies hoping to strike it rich. Now, it is brimming with supermajors clamoring to buy Continue Reading
Fears Of U.S. Shale Demise May Be Overblown
Recently, there has been some concern about the ability of U.S. shale , and in particular, the Permian Basin, to continue the meteoric increases in production that have characterized the Continue Reading
US shale oil producers ride OPEC coattails, but Saudi Arabia doesn’t mind, Falih says
OPEC has thrown a “lifeline” to US shale producers by cutting output to boost oil prices, Saudi energy minister Khalid al-Falih said Sunday, rejecting the notion of a market share Continue Reading
U.S. oil drillers cut rigs for second week in a row: Baker Hughes
U.S. energy firms cut oil rigs for a second week in a row as more producers, like Occidental Petroleum Corp, turned conservative in their 2019 drilling plans due to uncertainty Continue Reading
U.S. Rig Count Flat As Canadian Drillers Add 100+ Rigs In Winter Season
Baker Hughes reported no change to the number of active oil and gas in the United States this week. The total number of active oil and gas drilling rigs is Continue Reading
Midland crude for fourth-quarter delivery nears strongest in months: traders
Midland crude for delivery in the fourth quarter is trading at the smallest discount in months in anticipation of the opening of pipelines transporting more than 2 million barrels per Continue Reading
New computational model points the way to more efficient and profitable fracking
A new computational model could potentially boost efficiencies and profits in natural gas production by better predicting previously hidden fracture mechanics while accurately accounting for the known amounts of gas Continue Reading
US Drops Four Oil Rigs This Week
The US oil rig count dropped by four this week, while the country added four gas rigs, keeping the total rig count flat. U.S. drillers cut four oil rigs this Continue Reading
US 10th Dist. Energy Firms Less Optimistic about Future Drilling
The Kansas City Fed’s fourth quarter energy survey reveals a negative drilling and business activity index – the first in almost three years. The future of drilling activity in the Continue Reading
Start date for new Permian oil line in jeopardy on regulatory delay
EPIC Crude Pipeline LP said the projected third-quarter start-up of its crude pipeline from the Permian basin to Corpus Christi, Texas is in “some jeopardy” after U.S. regulators delayed action Continue Reading
Producers weigh DUC production at $50/b oil
The volume of drilled but unproduced wells continues to build across the US to record levels, but market sentiment is mixed on whether oil prices need to continue to recover Continue Reading
Chesapeake to Cut Rigs to Reduce CAPEX in 2019
The Oklahoma City-based E&P company is lowering its rig count by 20% in 2019. After a strong fourth quarter in 2018, Chesapeake Energy Corporation is stepping into 2019 with a Continue Reading
Outlook 2019: Argentina’s Vaca Muerta faces bottlenecks that could slow growth
The Vaca Muerta has attracted $165 billion in investment commitments as companies like Chevron, ExxonMobil and Total bet on the production growth potential of Argentina’s biggest shale play, but bottlenecks Continue Reading
Producers weigh DUC production at $50/b oil
Highlights Market mixed if higher or lower price needed Platts: $50/b oil enough to bring production DUC decisions also hinge on takeaway ability Houston — The volume of drilled but Continue Reading
Problems for US Producers at $50
U.S. producers can’t generate cashflow and production growth at $50 per barrel oil, according to Energy Aspects. U.S. producers can’t generate cashflow and production growth at $50 per barrel oil. Continue Reading
Problems for US Producers at $50
U.S. producers can’t generate cashflow and production growth at $50 per barrel oil, according to Energy Aspects. U.S. producers can’t generate cashflow and production growth at $50 per barrel oil. Continue Reading
Has U.S. Fracking Activity Peaked Already?
Shale drilling activity in the US likely dropped to 44 jobs per day in November 2018, Rystad Energy’s analysis of preliminary data suggests. We conclude that nationwide fracking activity was Continue Reading
New Data Suggests Shocking Shale Slowdown
U.S. shale executives often boast of low breakeven prices, reassuring investors of their ability to operate at a high level even when oil prices fall. But new data suggests that Continue Reading
Gas flaring lights up Texas skies amid US oil boom
The powerful telescopes of Texas’s McDonald Observatory aim at some of the darkest night skies on the planet. But a dome of light is creeping closer on the northern horizon. Continue Reading
Falling Rig Count Supports Crude Prices
More good news came in today for the oil bulls as Baker Hughes reported a 8-rig decrease for oil and gas in the United States this week. The total number Continue Reading
US Drops Eight Oil Rigs This Week
US drillers drop eight rigs this week as crude prices advance. After two weeks of adding oil rigs, the U.S. rig count declined by eight this week, according to data Continue Reading
Retamco pulls out of Argentinian shale project after failing to obtain financing
Retamco Operating has pulled out of a license in the Vaca Muerta after failing to come up with the financing to develop a block in the Argentinian shale play, a Continue Reading
The World’s Most Productive Oil Field
Many people will tell you that the production rate of Saudi Arabia’s Ghawar oil field, which has yielded 5 million barrels of petroleum per day for decades, will never be Continue Reading
Outlook 2019: US crude oil production growth rates seen lower as lack of visibility clouds outlook
With oil prices below $50/b, 2019 still uncertain Prices are minimum required for output growth: Platts Analytics Producer fiscal discipline seen persisting into new year Houston — As the price Continue Reading
Fracking’s Secret Problem—Oil Wells Aren’t Producing as Much as Forecast
Two-thirds of projections made by the fracking companies between 2014 and 2017 in America’s four hottest drilling regions appear to have been overly optimistic, according to the analysis of some Continue Reading
Equinor publishes updated assay for 60-API Eagle Ford chem grade
Equinor published Wednesday an updated assay for “Eagle Ford chem grade,” the name it gives to a high-API, naphtha-rich condensate produced from the South Texas shale play. Receive daily email Continue Reading
U.S. Shale Challenges OPEC’s Oil Dominance In Asia
The explosive growth of U.S. shale production has capped gains of international and U.S. oil prices, offsetting OPEC’s production cuts in the first half of the year and contributing to Continue Reading
Low Oil Prices Could Cripple Texas Job Growth
Job growth in Texas is not exactly screeching to a halt, but low oil prices could start to lead to weaker employment figures. “The Texas labor market will likely tighten Continue Reading
Shale Drillers Cut Budgets as Oil Prices Drop
Producers Diamondback Energy Inc., FANG -1.07% Parsley Energy Inc. PE -2.18% and Centennial Resource Development Inc. CDEV -1.63% either plan to operate fewer drilling rigs in 2019 or recently lowered Continue Reading
U.S. drillers add oil rigs for second week in a row: Baker Hughes
U.S. energy firms added oil rigs for a second week in a row even as oil prices fell to 1-1/2-year lows and headed for losses of more than 20 percent Continue Reading
U.S. Rig Count Rises As Canadian Drillers Prepare For Winter
Coming off a rather abysmal week for oil prices, Baker Hughes reported a 3-rig increase for oil and gas in the United States this week. The total number of active Continue Reading
Bakken processing plant expansion helps curb natural gas flaring
Although natural gas flaring in the Bakken Shale set records in 2018, those levels are starting to fall as the first of one of several processing plants planned for the Continue Reading
US Adds Oil Rigs for Second Week in a Row
The US added two oil rigs this week, marking the second week of increases. The U.S. added two oil rigs this week, marking the second consecutive week for an increase, Continue Reading
Fed Says Texas Job Growth to Take Hit If Oil Rout Continues
Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Continue Reading
Analysis: US crude inventories static as rising production balances export surge | S&P Global Platts
US crude supply was little changed week on week as an uptick in production was matched by sharply higher exports last week, US Energy Information Administration data showed Friday. US Continue Reading
US rig count falls by 28 to 1,147, at lowest level since April
The US rig count fell to its lowest level since April last week, declining by 28 to 1,147, amid a broad slowdown in oil drilling activity, according to S&P Global Continue Reading