Shale Has Delinked US Oil and Gas Prices

Industry Headlines

Oil Prices Up for the Week
Friday, December 06, 2019 Both WTI and Brent are up for the week, but only one of the benchmarks is up dramatically for the period.

US Drops Five Oil Rigs
Friday, December 06, 2019 The U.S. idled five oil rigs and added two gas rigs for a net loss of three rigs this week.

US Loses Thousands of Upstream Jobs in November
Friday, December 06, 2019 The U.S. saw a sharp decline in support activities for mining in November, according to data released Friday from the U.S. Bureau of Labor Statistics.

Halliburton Confirms More Layoffs in Oklahoma
Friday, December 06, 2019 Halliburton has confirmed job cuts in Duncan, Oklahoma, just days after closing a facility in El Reno, Oklahoma.

OPEC+ Agrees to Redistribute Oil Cuts
Friday, December 06, 2019 OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.

Oil Sputters After OPEC+ Fails to Pin Down Details
Friday, December 06, 2019 Oil sputtered as the OPEC+ coalition failed to pin down the details of an agreement to adjust its official output target even after six hours of talks in Vienna.

Oil Prices Lackluster Amid Wait on OPEC+
Thursday, December 05, 2019 Brent crude oil futures showed a meager gain Thursday, and West Texas Intermediate (WTI) posted no gain at all.

Shale Has Delinked US Oil and Gas Prices
Friday, December 06, 2019 These two sources of energy are intrinsically linked, and together supply over 60 percent of U.S. and global energy.

Shale Frac Spread Rebound Hopes Fade
Thursday, December 05, 2019 A seasonal increase in the number of US shale basin-based frac spreads has not materialized.



TGS Starts Additional Montney Project
Thursday, December 05, 2019 TGS has started onshore seismic acquisition for an additional Montney basin 3D project in Canada.

Apache Tumbles on 'Incredibly Thin' Suriname Well Results
Monday, December 02, 2019 Apache Corp. plunges after the company's update on a closely watched exploratory oil well off the coast of Suriname offered little indication as to whether it will be commercially viable.

Equinor Moving Away From Frontier Exploration in Norway's Arctic
Tuesday, November 26, 2019 That means drilling near existing discoveries such as Johan Castberg and Wisting rather than riskier but potentially more rewarding targets.

Kosmos Completes US GOM Resolution Well
Tuesday, November 26, 2019 Kosmos Energy announced Tuesday that it has completed drilling the Resolution exploration well in the U.S. Gulf of Mexico.

Seadrill-Operated Rig Claims Low Emission Milestone
Monday, November 25, 2019 Pictured is North Drilling's Seadrill-operated West Mira semisub. PHOTO SOURCE: Wintershall Dea

Shearwater Gets Shell Black Sea Seismic Contract
Monday, November 25, 2019 Shearwater GeoServices Holding AS has been awarded a Black Sea 3D seismic acquisition contract by Royal Dutch Shell plc.



N. American Shale Primed for Growth Despite Possible Oil Price Declines
Thursday, December 05, 2019 The production outlook for North American shale will remain robust in coming years, despite a potential drop in oil prices, according to Rystad Energy.

EnQuest Gets Offshore Malaysia PSC
Wednesday, December 04, 2019 EnQuest has been awarded the Block PM409 Production Sharing Contract by Petronas.

US Solidifies Energy Producer Status
Monday, December 02, 2019 The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949.

Brazil Aiming to Double its Oil Production
Friday, November 29, 2019 Future expansion depends on access to capital, high-end tech from foreign investors and big oil companies with deepwater and pre-salt expertise.

Key Libya Oil Field Resumes Output
Thursday, November 28, 2019 Libya restarted production at a key oil field after clashes between rival fighters forced a temporary halt.

Texas Wildcatters Scoff at Growth Predictions
Wednesday, November 27, 2019 Texas wildcatters are now saying global analysts are underestimating just how severe the industry's slowdown is.


Finance and Investing

Aramco Raises $25.6B in World's Biggest IPO
Friday, December 06, 2019 Saudi Aramco raised $25.6 billion from the world's biggest initial public offering.

Petrobras Plans $34B in Dividends by 2024
Thursday, December 05, 2019 Petrobras plans to pay its shareholders $34 billion in dividends over the next five years as it cuts debt and sells assets to shore up its finances.

Chesapeake Debt Deal Skirts Bankruptcy
Wednesday, December 04, 2019 Unfortunately, the move doesn't change the fundamental trajectory for the Oklahoma City-based shale producer.

Aramco Considers Pricing at Top
Wednesday, December 04, 2019 Saudi Aramco is considering pricing its initial public offering at the top end of a marketed range, people with knowledge of the matter said.

Aramco IPO Bids Reach $44.3B
Friday, November 29, 2019 Saudi Aramco's IPO has drawn total bids of 166 billion Saudi riyals ($44.3 billion) so far from institutional and retail investors.

Unpaid Bills in Mexico Oil Patch Add to Pemex Troubles
Tuesday, November 26, 2019 Pemex, facing pressure from the government to slow spending, has delayed some payments to contractors for as long as seven months.


Company Operations

Petrofac Mulls Offshore Oil Asset Sale in Malaysia
Friday, December 06, 2019 Petrofac Ltd., the U.K.-listed oilfield service provider, is weighing a sale of its Malaysian assets for about $300 million.

Solstad Announces Several Contract Awards in Dec
Friday, December 06, 2019 Solstad Offshore ASA has announced several contract awards this month already.

Providence Founder Steps Down
Friday, December 06, 2019 Tony O'Reilly has stepped down from the position of chief executive officer of Providence Resources and resigned from the board with immediate effect.

Tallgrass Names New President
Tuesday, December 03, 2019 Sheehy's previous tenure at Tallgrass extended from 2012 to early 2018.

Halliburton Shutters Oklahoma Office, Cuts 800 Jobs
Tuesday, December 03, 2019 The Houston-based oilfield services giant will be closing its office in El Reno, Oklahoma and laying off more than 800 employees.

Repsol Sets Net Zero Goal
Tuesday, December 03, 2019 Repsol revealed Monday that it aims to be a net zero emissions company by 2050.

New Subsea Era Could Begin with Power Tech
Tuesday, December 03, 2019 This rendering shows the layout of a subsea substation. IMAGE SOURCE: ABB