U.S. shale surge boosts industry finances, puts deals in spotlight
If OPEC thought the 26 percent drop in oil prices since October might rein in U.S. shale production like the last sharp drop did four years ago, it might have Continue Reading
Bakken Prices Crumble On Pipeline Woes
Oil production is growing so quickly in the Bakken that the region is starting to suffer from painful pipeline constraints. U.S. shale is not new to pipeline bottlenecks. The Permian Continue Reading
U.S. shale oil output to hit record high 7.9 million barrels per day in December: EIA
U.S. crude oil output from seven major shale basins was expected to hit a record of 7.94 million barrels per day (bpd) in December, according to a monthly government forecast Continue Reading
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
U.S. Could Become Single Largest Oil, Gas Producer: IEA
The United States will be the biggest contributor to global oil production growth in the period to 2040, accounting for 75 percent of the total, the International Energy Agency said Continue Reading
New Tech Could Save Big Oil $7 Billion Per Year
Seven billion dollars—this is the sum that oil producers could save annually if they take advantage of all digital capabilities made available to them by a technology industry that’s been Continue Reading
Permian Pipes Are Coming, But The Workers Aren’t
‘It’s frankly today a bigger concern than oil prices, because oil prices are fine where they are. The availability of labor is not,’ says analyst. (Bloomberg) — Ryan Byrd worked Continue Reading
U.S. Expected to Produce Half of Global Oil and Gas Growth by 2025
“The shale revolution continues to shake up oil and gas supply, enabling the U.S. to pull away from the rest of the field as the world’s largest oil and gas Continue Reading
Fracking could generate $500 million per year in Colombia: study
The development of non-conventional oil deposits using fracking could generate $500 million per project per year in taxes, royalties, dividends for shareholders and salaries in Colombia, the country’s private oil Continue Reading
U.S. crude inventories increase, diesel stocks down: EIA
U.S. crude inventories rose last week, boosted by another jump in production to a new record, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Continue Reading
Plains All American Expands Permian Pipeline Network
Pipeline operator Plains All American said it had expanded the capacity of its network in Texas, launching its Sunrise pipeline from the Permian to Cushing, Oklahoma, which boosted overall daily Continue Reading
U.S. Oil Production Is Set To Soar Past 12 Million Bpd
Rising shale production is putting the United States on track to hit the 12 million bpd oil production mark sooner than previously forecast, the Energy Information Administration (EIA) said in Continue Reading
Well Setback Measure Fails in Colorado
A controversial proposal on the ballot in Colorado that would have dramatically limited new oil and gas development in the state failed at the polls Tuesday. According to returns from Continue Reading
Colorado voters reject oil, gas drilling setback rule 58-42
Colorado voters overwhelmingly rejected a measure which would have required drilling of oil and gas wells to be at least 2,500 feet away from occupied structures and vulnerable areas, such Continue Reading
IEA: Clean Energy Transition Makes Reforms ‘Inescapable’ for Oil States
A changing energy system is posing “critical questions” for many of the world’s largest oil and gas producing countries, the International Energy Agency (IEA) says. The rise of shale gas Continue Reading
Halliburton Expects Permian Bottlenecks Gone By End of 2019
Halliburton Co. expects bottlenecks in America’s busiest oil field to be relieved by the end of next year. A series of catalysts will drive drilling and fracking activity in the Continue Reading
New Pipeline Would Link Cushing to Houston, Possibly Corpus
The proposed Voyager pipeline would extend nearly 500 miles and could be in service in late-2020. Magellan Midstream Partners, L.P. (MMP) and Navigator Energy Services have launched a binding open Continue Reading
Falling Rig Count Fails To Lift Oil Prices
Baker Hughes reported a 1-rig decrease for oil and gas in the United States this week, bringing the total number of active oil and gas drilling rigs to 1,067 according Continue Reading
Rise in oil driving demand in skills-short roles, analysis reveals
At a time when demand for oil and gas is close to reaching a historical peak of 100 million barrels a day, meeting this demand is now under threat due Continue Reading
U.S. oil drillers cut rigs for first week in four: Baker Hughes
The U.S. oil drilling rig count declined this week for the first time in four weeks, although the rig count held close to its highest in over three years as Continue Reading
Chevron grows Permian production 80% year-on-year in Q3
Permian output rises to 338,000 boe/d Attributes high growth to well design tweaks, high-density fracs Chevron USGC oil export capacity to triple in early 2019 Houston — Chevron’s production from Continue Reading
US Adds Thousands of Oil and Gas Jobs in October
Newly released data from the BLS reveals that October continued the trend of adding jobs in the sector. The U.S. added 5,000 mining jobs for the month of October, according Continue Reading
Can U.S. Shale Overcome Its Cash Flow Problem?
I’m tempted to say the following to the writers of two recent pieces ( here and here ) outlining the continuing negative free cash flow of companies fracking for oil Continue Reading
Oilfield Service Companies May Struggle To Pay Debt
The oilfield service sector has been on the path of recovery from the 2014 industry downturn, but just when the industry says things are starting to look up, Moody’s has Continue Reading
U.S. Oil To Significantly Outperform This Year
On the morning of publication of the EIA-914 and EIA PSM reports today (October 31), providing US monthly oil production data for August 2018, Rystad Energy analysis indicates that the Continue Reading
Bakken sees record-breaking oil output in Q3: producers
Top Bakken producers this week reported record-breaking crude oil output in the third quarter and announced plans to ramp up production in the play. Hess produced 118,000 b/d of oil Continue Reading
Anadarko to base 2019 capex on $50/b oil: CEO
Anadarko Petroleum will continue using a $50/b oil price assumption in 2019, the company’s CEO said Wednesday, even though current US prices are about 30% above that level. Receive daily Continue Reading
Peak Shale: Is the US Fracking Industry Already in Decline?
In 2016, lower oil prices led to an overall drop in production for shale companies, which use horizontal drilling and fracking to extract oil and gas from shale formations such Continue Reading
Continental Resources doubles estimate for Bakken oil recovery
Continental Resources, the largest oil producer in North Dakota, has doubled its Bakken oil recovery estimates, claiming that as much as 40 billion barrels of crude may ultimately produced from Continue Reading
Shale oil becomes shale fail (and a nice subsidy for consumers)
I’m tempted to say the following to the writers of two recent pieces ( here and here ) outlining the continuing negative free cash flow of companies fracking for oil Continue Reading
BP’s oil and gas output flat in Q3 but BHP assets set to drive volumes in Q4
BP’s oil and gas production growth stalled in the third quarter but the company said Tuesday it expects upstream growth to resume withing days after closing its $10.5 billion acquisition Continue Reading
Shale oil becomes shale fail (and a nice subsidy for consumers)
I’m tempted to say the following to the writers of two recent pieces ( here and here ) outlining the continuing negative free cash flow of companies fracking for oil Continue Reading
Driven by Trump Policy Changes, Fracking Booms on Public Lands
The parade of trailer trucks rolling through Jay Butler’s dusty ranch is a precursor to a new fracking boom on the vast federal lands of Wyoming and across the West. Reversing Continue Reading
The Shale Boom Calmed Oil Markets, but for How Much Longer?
For perspective on shale’s impact, rewind to 2007, when some industry leaders saw world demand hitting a wall once it rose to 100 million barrels a day—a level they thought Continue Reading
U.S. Oil & Gas Deal Flow Reaches Highest Level Since 2014
Higher and more stable oil prices, corporate restructurings, and investors warming to the idea of longer-term investment sent the U.S. oil and gas deals value to a near-record US$122.8 billion Continue Reading
U.S. shale producers eye global pricing as exports surge
Three years after a ban on crude oil exports was lifted, some U.S. shale producers are doing something they have never done before – lock in prices for their barrels Continue Reading
U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead
While the U.S. Shale Industry produces a record amount of oil, it continues to be plagued by massive oil decline rates and debt. Moreover, even as the companies brag about Continue Reading
Exxon begins preparing Texas refinery for shale oil expansion
Exxon Mobil Corp has begun groundwork at a Texas refinery that would become the largest in the United States in advance of a final investment decision on the expansion, three Continue Reading
Why U.S. Shale May Fall Short Of Expectations
The U.S. shale industry may not grow as much, or at least as fast, as everyone thinks it will, according to a top industry executive. The drilling frenzy in West Continue Reading
Permian explorer Endeavor Energy eyes potential $10 billion-plus sale: source
Endeavor Energy Resources LP [EERL.UL] is exploring a sale that could value the Texas-based privately held oil producer at more than $10 billion, a source familiar with the matter said Continue Reading
Private Equity Needs Long-Term Approach to Cash in on Shale
For private equity, the game plan for cashing in on the U.S. shale boom is shifting from quick flips to long-term commitments, according to one veteran energy investor. (Bloomberg) — Continue Reading
Halliburton’s Optimism Clouded by Weak End to 2018
Halliburton’s optimistic outlook for the U.S. oil and gas industry in 2019 was overshadowed by a worse-than-expected projection for the final three months of this year as activity slows throughout Continue Reading
Water Use in Fracking Soars — Exceeding Rise in Fossil Fuels Produced, Study Says
The amount of water used per well jumped as much as 770 percent between 2011 and 2016, researchers say. As fracking expands, its water and wastewater footprints are forecast to Continue Reading
U.S. Shale Has A Glaring Problem
Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies Continue Reading
Is There Too Much Light Crude On The Market?
A lighter crude oil grade is being sold from the Permian, Bloomberg reported earlier this week, noting it was selling at a discount to the regional benchmark, WTI Midland. It Continue Reading
U.S. Midland crude firms, Cushing weakens ahead of pipeline startup
NEW YORK (Reuters) – The upcoming startup of an expanded crude pipeline from the Permian Basin to Cushing, Oklahoma has rapidly strengthened oil prices in West Texas while weighing on Continue Reading
Schlumberger chief warns on US shale oil production
US shale oil production could fall short of its most optimistic projections because of emerging problems in the industry, the chief executive of the world’s largest oilfield services group has Continue Reading
Analysis: Permian Basin gas constraints on track to ease in 2019
Natural gas production in the Permian Basin has outpaced pipeline takeaway capacity, but with the rollout of new projects, this trend is expected to change next year. Receive daily email Continue Reading
Falling Permian well performance could pose risk to longer-term growth: Schlumberger
Houston — Permian Basin crude production growth is currently constrained by limited takeaway capacity, and falling well performance in the basin could pose a risk to longer-term growth, oilfield services Continue Reading
US Rig Count Reaches Highest Level in Two-and-a-Half Years
The US adds four rigs this week, making this week’s count the highest since March 2015. U.S. drillers added four rigs this week, bringing the nation’s oil rig count to Continue Reading