Daily Oil & Energy News
The Permian Basin isn’t the only oil field facing pressure from pipeline bottlenecks. While global oil prices have climbed almost 20 percent this year, producers in Alberta and British Columbia’s Continue Reading
A new report from the U.S. Energy Information Administration (EIA) indicates that the growing shortage of pipeline takeaway capacity in the Permian Basin of West Texas and Southeast New Mexico Continue Reading
North Dakota output breaks records as operators drill best acreage Receive daily email alerts, subscriber notes & personalize your experience. Register Now Remaining wells made up largely of low producing Continue Reading
U.S. producers of ultra-light condensate have the opportunity to gain a market share in a tightening Asian condensate market, which is expected to further tighten with the return of the Continue Reading
Crude oil production in the U.S. shale patch will hit 7.59 million bpd next month, the Energy Information Administration said in its latest Drilling Productivity Report . This is 79,000 Continue Reading
Oil output from seven major shale formations in the United States is expected to rise by 79,000 barrels per day to 7.6 million bpd in October, the U.S. Energy Information Continue Reading
The shale industry has hit a bit of a rough patch, with pipeline bottlenecks, cost inflation and a crowded field contributing to a drilling and production slowdown. But many in Continue Reading
Proponents of the initiative—which qualified in end-August for the ballot with enough signatures raised—say that it would limit the health and environmental dangers of fracking. Opponents and analysts say that Continue Reading
Shale drillers in West Texas are entering into two-year futures contracts because they don’t believe new pipeline infrastructure will be finished by 2020. Photo by Gary C. Caskey/UPI | Sept. Continue Reading
US Highway 285 is a major north-south route within the Permian Basin of West Texas and southeastern New Mexico, and it’s seen better days. U.S. Highway 285 is a major Continue Reading
Oil producers in the Permian appear to be worried that key pipeline projects to boost takeaway capacity from the region might not hit their 2019 targeted start-up dates. Oil producers Continue Reading
U.S. crude oil production in 2019 is expected to grow at a slower rate than previously forecast, according to a monthly U.S. government forecast on Tuesday. U.S. crude production is Continue Reading
To be fair, not all shale gas drilling is slowing, but in the Permian Basin, which has seen the most incandescent growth in recent years, according to the Financial Times Continue Reading
The Permian pipeline bottleneck continues to pinch the shale industry, forcing steep discounts for oil stuck in West Texas. Yet, the midstream constraints will be temporary and few in the Continue Reading
To be fair, not all shale gas drilling is slowing, but in the Permian Basin, which has seen the most incandescent growth in recent years, according to the Financial Times Continue Reading
If you follow energy markets at all, you know that prices on the Brent global oil benchmark have traded within a robust band of $70 to $80 a barrel for Continue Reading
The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction, a record high for Continue Reading
Oil and gas companies have pumped millions this campaign cycle into an effort to defeat a Colorado ballot measure that would increase new drilling setbacks by five-fold and cripple the Continue Reading
The price to access unexplored shale assets on the New Mexico side of the Permian Basin soared to $95,001 an acre in a federal government auction. (Bloomberg) — The price Continue Reading
Houston’s Kinder Morgan and Midland-based EagleClaw Midstream said they’ve authorized the proposed $2 billion Permian Highway Pipeline project to transport natural gas from West Texas to Houston and other hubs. The Continue Reading
The US shale oil industry is slowing as logistical challenges including labor costs and a lack of adequate pipeline capacity pile up, the chief executives of some of the largest Continue Reading
These first charts are taken from the EIA’s Monthly Crude Oil and Natural Gas Production . The data is through June 2018 and is in thousands of barrels per day. Continue Reading
Many think that debt and negative cash flow by U.S. shale companies will crash the global financial system. I believe the opposite is more likely, that a developing financial crisis Continue Reading
Pipeline capacity constraints in the Permian are affecting not only surging oil production. There’s a shortage of natural gas pipelines as well, and operators across West Texas and New Mexico Continue Reading
The death of U.S. Energy Independence will occur when the collapse of shale oil production begins. And when U.S. shale oil production finally peaks and declines, it could fall much Continue Reading
The chief executive of the largest oilfield service provider, Schlumberger, warned on Tuesday that bottlenecks in the largest U.S. shale basin would slow oil production growth and investments in the Continue Reading
As the crude powerhouse that is Texas’ Permian Basin becomes old news, oil explorers are looking for the next big thing–and they have found it in the more-than 4000 feet Continue Reading
After nearly two decades of horizontal drilling, fracking – as it is commonly known, has “turned the energy world upside down,” according to Journalist Bethany McLean, a former Goldman Sachs Continue Reading
Sand is a key ingredient for shale drillers, who use a mixture of sand, water and chemicals to fracture rock formations deep underground and release the oil and gas trapped Continue Reading
Oil producers in the Permian Basin, dealing with a shortage of pipelines, are increasingly turning to trucks and rail to ship the flood of crude from the West Texas oil Continue Reading
About 20 years ago, an entrepreneur named George Mitchell proved that it was possible to get lots of oil and gas out of parts of the earth long thought to Continue Reading
In the busy oil fields south of San Antonio, some big rig trucks sit empty. They could be hauling the thousands of loads of sand needed to frac a well. Continue Reading
U.S. crude oil production rose 231,000 barrels per day, or 2 percent, to a record 10.674 million bpd in June, the U.S. Energy Information Administration said in a pair of Continue Reading
Oil production in Texas dropped in June 2018 compared to the same month last year, the first yearly drop since February 2017, figures by the Railroad Commission of Texas showed Continue Reading
Each day across the United States, 2 billion gallons of fossil-fuel-industry wastewater flies through thousands of underground tubes. The injection wells descend into porous rock, filling gaps with brine and Continue Reading
Texas-based Vista Proppants and Logistics has struck a deal with logistics firm JupiterMLP to transload crude oil from truck to rail at Pecos, Texas, and ship crude on the Union Continue Reading
Weld County would be most affected. Spending could move elsewhere Colorado voters will decide in November whether to increase land setbacks from new oil and gas development, a measure that Continue Reading
Texas oil production fell in June from a year earlier for the first time in 16 months, according to figures released on Thursday by the state’s energy regulator, a fresh Continue Reading
In the dry, dusty plains of West Texas, home to America’s most prolific oil play, the problem isn’t too little water, it’s too much of it. (Bloomberg) — In the Continue Reading
U.S. crude stocks fell more than forecast last week, while gasoline and distillate inventories dropped unexpectedly, the Energy Information Administration said on Wednesday. FILE PHOTO: Crude oil storage tanks are Continue Reading
A Colorado ballot initiative that would sharply increase the required distance between new oil wells and populated areas will go before voters in November, Colorado officials said on Wednesday. The Continue Reading
Oil companies looking for the next big find are wading into the Powder River Basin of Wyoming, where pipelines are not congested and land is cheaper than in Texas’ Permian Continue Reading
The fracking revolution in the U.S. has considerably changed the global oil market and the strategic calculations of market participants. The initial entry of shale oil producers caused a crash Continue Reading
A new quarterly forecast by Westwood finds that pipeline takeaway capacity constraints in the US’ hottest shale play will see hundreds of deferred completions through 2019. Pipeline issues in the Continue Reading
The U.S.-China trade tensions—which continue to escalate despite last week’s talks—risk backfiring on the American oil and gas sector, slowing down investments in long-term projects, a Texas energy group says Continue Reading
Total is not looking at investing in the US shale oil industry. STAVANGER, Norway, Aug 27 (Reuters) – French energy group Total is not looking at investing in the U.S. Continue Reading
You could be forgiven for doing a double take on that sentence. There has been a lot of attention paid to the pipeline woes in West Texas, but because of Continue Reading
The massive debt accumulated by the U.S. Shale Industry is now decimating company profits. As company debts and interest rates rise, these shale producers interest expense also continues to increase. Continue Reading
U.S. energy companies cut nine oil drilling rigs this week, the biggest reduction since May 2016, following a recent decline in crude prices. The oil rig count fell to 860 Continue Reading
When producers blast a mix of water, sand and chemicals to release oil and gas from rock formations miles underground, they not only unlock oil and gas, but also massive Continue Reading