Daily Oil & Energy News
Still facing protests over shale gas work, British energy company Cuadrilla Resources said its efforts were pumping millions of dollars into the local economy. The company, a pioneer in British Continue Reading
There’s a good chance that a ballot initiative to significantly expand the buffer zones between oil and gas wells and homes and other buildings could be up for voting by Continue Reading
While Midland is enjoying low unemployment rates due to increased Permian activity, there is still a high demand for oilfield talent. The lure of high wages and bustling activity are Continue Reading
In announcing gains insecond-quarterr revenue, drilling services company Halliburton said North America is the fastest growing energy market in the world. Halliburton reported total revenue for the three months ending Continue Reading
Shares of oilfield services provider Halliburton fell by more than 8 percent on Monday after the company warned of moderate growth in the oil and gas-rich Permian Basin and lower Continue Reading
Rigzone asks several oil and gas majors about their hiring plans in the Permian basin in the near future. Royal Dutch Shell plc expects to be in “growth mode” in Continue Reading
(Reuters) – Shares of oilfield services provider Halliburton fell by more than 8 percent on Monday after the company warned of moderate growth in the oil and gas-rich Permian Basin Continue Reading
GTI (Gas Technology Institue) is leading a high-profile program on Hydraulic Fracturing Test Sites (HFTS) in the Permian Basin, bringing together government and industry to improve recovery, continue enhancing environmentally Continue Reading
Baker Hughes reported a decreased number of active oil and gas rigs in the United States on Friday. Oil and gas rigs decreased by 8 rigs , according to the Continue Reading
U.S. energy companies this week cut oil rigs by the most in a week since March as the rate of growth has slowed over the past month or so with Continue Reading
**Sees production decreasing **CP Rail moved 134,000 b/d in Q2 Receive daily email alerts, subscriber notes & personalize your experience. Register Now A shortage of pipeline takeaway capacity from the Continue Reading
The Permian basin has run up against a bottleneck for pipeline capacity. Gushing oil from West Texas will surpass the available space on the region’s pipelines this year, which could Continue Reading
Source: U.S. Energy Information Administration, based on Natural Gas Intelligence The natural gas spot price spread between the Permian Basin, as priced at the Waha Hub in western Texas, and Continue Reading
The ‘mega-frac’ is turning the typically annoying sand of West Texas into the new gold, and the oil and gas land rush on the Permian Basin has now extended into Continue Reading
The contract is expected to launch in third quarter of 2018 and will have physical delivery in Houston. The Intercontinental Exchange Inc. (ICE) has plans to launch a Permian West Continue Reading
While oil production from U.S. shale basins has been relentless, it will be other producers contributing to long-term supply growth, Wood Mackenzie found. Total U.S. oil production for the week Continue Reading
US unconventional oil production is projected to rise 143,000 b/d in August to 7.470 million b/d, the US Energy Information Administration said Monday, the second-highest month-to-month volume growth increase since Continue Reading
U.S. oil output from seven major shale formations is expected to rise by 143,000 barrels a day to a record 7.47 million barrels per day in August, the U.S. Energy Continue Reading
A $1.1 billion U.S. shale pipeline on Monday was denied an exclusion to the Trump administration’s tariff on imported steel, the first such ruling on a major energy project since Continue Reading
Oil production in the seven most prolific US shale regions will hit new highs next month, according to the Energy Information Administration’s monthly Drilling Productivity Report released on Monday afternoon. Continue Reading
Oil is rising in spite of growing U.S. production. Shale output is “short-cycle”, making it less risky. As capex flows to North America, it’s limiting investment elsewhere in conventional projects. Continue Reading
Midstream operators are preparing to release financial results for the second quarter as a flurry of oil drilling activity in the Permian Basin creates the need for more pipelines to Continue Reading
Crude oil production growth in the largest U.S. shale field could shrink by nearly two-thirds next year because of limited pipeline capacity that will blow out already wide differentials in Continue Reading
Booming crude oil and natural gas production in the Permian Basin and not enough pipeline takeaway capacity have widened the discounts at which oil and natural gas pumped in the Continue Reading
He was almost right. The work came back. But Mr. Neece’s former job as a well logger—measuring well conditions thousands of feet underground—was gone. Those duties are increasingly being overseen Continue Reading
There is perhaps no industry that better captures the money-multiplying effect of the Permian boom. (Bloomberg) — Standing high on top of a windswept dune in the West Texas plains, Continue Reading
The goal for any commercial company is to make as high as possible profit and returns on invested (employed) capital, primarily the owners’ capital, equity. Light Tight Oil (LTO) extraction Continue Reading
The oil industry risks a supply crunch as big energy companies focus on US shale and other short-term efforts over the long-term mega-projects seen in years past, the head of Continue Reading
U.S. energy companies this week added oil rigs for the first time in three weeks but the rate of growth has slowed over the past month or so with a Continue Reading
Baker Hughes reported an increase in the number of active oil rigs in the United States today. The overall rig count increased by 5 rigs , according to the report, Continue Reading
The growing number of supply outages around the world are causing the oil market to become a lot more volatile, putting extra emphasis on every barrel that does or does Continue Reading
Productivity levels in the US’ prime tight oil play began to fall last year, raising further questions over the sustainability of the current tight oil recovery as constraints on the Continue Reading
Baker Hughes reported another dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 5 rigs , according to Continue Reading
U.S. crude production fell marginally by 2,000 barrels per day (bpd) to 10.467 million bpd in April from the highest on record in March, the Energy Information Administration (EIA) said Continue Reading
“The money’s here,” says Don Bryant, who was born in Hobbs 53 years ago and owns a company that makes tools to repair oil wells. He thought about uprooting for Continue Reading
The pipeline project should address some of the bottleneck concerns around Permian Basin production. Kinder Morgan Texas Pipeline LLC (KMTP), EagleClaw Midstream Ventures LLC and Apache Corp. have teamed up Continue Reading
When the U.S. Geological Survey published its updated resource estimate for the Wolfcamp Basin in the Permian a couple of years ago, it added fresh fuel to an already major Continue Reading
“The money’s here,” says Don Bryant, who was born in Hobbs 53 years ago and owns a company that makes tools to repair oil wells. He thought about uprooting for Continue Reading
U.S. shale companies, which kept pumping when the rest of the world cut back oil production, are in a strong position to benefit now that the Organization of the Petroleum Continue Reading
Pipeline limitations near the U.S. inland storage hub in Cushing, Okla., create headwinds for growth in Colorado oil production, a state report found. Colorado crude oil production more than tripled Continue Reading
The pipeline constraints in the Permian are finally starting to bite, threatening to derail the extraordinary production boom that has been underway for the last few years. Permian drillers are Continue Reading
Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The Continue Reading
Investor pressure on oil producers to focus more attention on shareholder returns and less on output will drive down vital industry investment in the long term, a leading U.S. shale Continue Reading
OPEC should boost daily output by roughly 1 million barrels over time to keep global crude supply and demand in the balance as production dips elsewhere, a leading U.S. shale Continue Reading
The fastest-growing oil producing region in the United States, the Permian, is nearing the limits of its pipeline takeaway capacity and some producers may be forced to shut in wells Continue Reading
The chairman of Permian heavyweight Pioneer Natural Resources took the unusual step Wednesday of publicly asking OPEC to pump more oil, arguing the price range of $60-$80/b is best for Continue Reading
A BP PLC project deep in Oman’s desert shows how big oil companies are taking hydraulic-fracturing techniques perfected in Texas to the global stage, where they had long struggled. BP’s Continue Reading
US shale oil producers will likely benefit from any decision OPEC makes this week in Vienna, with the exception of a complete breakdown in unity that created the current supply Continue Reading
Back in 2011, The New York Times first raised concerns about the reliability of America’s proved shale gas reserves. Proved reserves are the estimates of supplies of oil and gas Continue Reading
HOUSTON (Reuters) – China’s proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry’s largest customer, adding Continue Reading