North Sea Platform Contract Goes to Kvaerner
Wednesday July 01, 2020 - Kvaerner will dismantle and recycle structures from the Valhall and Hod fields in the Norwegian North Sea. PHOTO SOURCE: Kvaerner
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Agile but Slow US Shale Recovery Likely
Wednesday, July 01, 2020Firmer oil prices have resulted in companies bringing back some wells they shut over April and May. However, the recovery road could be a long one this time around.
North Sea Platform Contract Goes to Kvaerner
Wednesday, July 01, 2020Kvaerner will dismantle and recycle structures from the Valhall and Hod fields in the Norwegian North Sea. PHOTO SOURCE: Kvaerner
ConocoPhillips to Ramp Up Oil Production
Tuesday, June 30, 2020ConocoPhillips said it will begin restoring curtailed oil production in July as crude prices rebound from their lockdown depths.
US Rig Count Drops Again
Monday, June 29, 2020The U.S. dropped another rig last week, Baker Hughes' rotary rig count shows.
Oil Market Optimism Downplays DUCs
Friday, June 26, 2020Check out this review of oil market hits and misses for the week ending June 26, 2020.
Natural Gas Output Poised for 2020 Declines
Wednesday, June 24, 2020Associated gas from oil fields will be hit most, losing some 5.5 percent compared to 2019 levels.
Austin Chalk Wells Go Online
Wednesday, June 24, 2020This photo shows Millennium's Chalk Talk #2H well in Gonzales, Texas. PHOTO SOURCE: Business Wire
Continental Switching Gears on Production Curtailments
Monday, June 22, 2020But the comeback will be gradual.
Oil Shock Upends Shale's Newest Powerhouse
Monday, June 22, 2020New Mexico is exhibit A of this boom-to-bust dynamic, with the state's revenue forecasts plunging and over 4,600 workers in mining.
OPEC+ Structures Deal on Compensation for Iraq Cuts Cheating
Thursday, June 18, 2020Iraq agreed on the details of how to compensate for falling short of its production cut target in May.
Texas Regulator Eyes Flaring Crackdown
Tuesday, June 16, 2020Texas will look into policies to "drastically reduce" natural gas flaring as investors become increasingly sensitive to climate change concerns.
Texas Upstream Gauge Sets Records
Thursday, June 11, 2020The Texas Alliance of Energy Producers' monthly measure of growth rates and cycles in the state's upstream oil and gas economy shows record declines across nearly all indicators from March to April.
Oversupply Is a Thing of the Past
Tuesday, June 09, 2020Oversupply is a thing of the past as long as OPEC+ compliance stays strong and the oil demand recovery trajectory isn't radically altered.
Global Gas Market Still Extraordinarily Oversupplied
Wednesday, June 03, 2020Unlike the oil market, there's been no sign of a coordinated response to address the gas glut.
Shale Oil Production Bouncing Back With Prices
Tuesday, June 02, 2020Early signs of a shale rebound are becoming evident as crude prices recover.
OPEC+ to Discuss Production Cut Extension
Monday, June 01, 2020OPEC+ is set to discuss a short extension of its current output cuts, according to a delegate.
Texas Oil Production Drops
Wednesday, May 27, 2020Crude oil production in Texas dropped year on year in March, according to the Railroad Commission of Texas' latest figures.
Oil CEO Says US Shale Rebound Is At Least a Year Away
Wednesday, May 27, 2020US shale drillers may still take at least a year before moving rigs back into the field.
Shale Output Seen Tumbling to 2018 Low
Tuesday, May 19, 2020Oil production from the top seven shale regions in the U.S. is set to tumble to levels not seen since 2018.
No One Expected Shale Cuts to Happen So Fast
Monday, May 18, 2020Drillers are laying down rigs and shutting in wells at a frantic pace in response to the plunge in oil prices caused by the coronavirus pandemic.
US Shut-Ins Could Reach 2MMBPD in June
Thursday, May 14, 2020Gross U.S. production cuts could reach two million barrels per day in June, according to Rystad Energy.
Is Rig Count a Reliable Production Gauge These Days?
Wednesday, May 13, 2020The link between oil and gas output and the rig count may have come adrift.
Oil Market Recovery Could Be Erratic
Wednesday, May 13, 2020IHS Markit Energy Advisory Service sees pattern of "stop-and-go rallies and selling cycles."
Pipe Giant Says Drillers Already Reopening Wells
Tuesday, May 12, 2020Some drillers in the biggest North American oil field are reopening wells shut in response to the pandemic-driven price collapse, according to pipeline giant Energy Transfer LP.
2Q To See Most Liquid Production Cuts Ever
Monday, May 11, 2020The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, according to IHS Markit.
Continental to Curtail 70 Percent of Oil Output in May
Monday, May 11, 2020It's one of the most aggressive production cuts announced to date among US producers.
Louisiana Layoffs, Shut-ins Happening Faster Than Expected
Wednesday, May 06, 2020Survey by Louisiana oil and gas industry group shows 23-percent layoff and 77.5-percent well shut-in figures.
Texas Votes No on Proration
Wednesday, May 06, 2020The Texas Railroad Commission voted against government mandated cuts at its latest meeting on May 5.
Coronavirus Downturn May Nullify 10 Years of Oil Demand Growth
Tuesday, May 05, 2020Unprecedented crude oil demand declines over the second quarter of the year will wipe out over a decade of industry growth in barrel terms.
Chevron Down to 5 Permian Rigs
Tuesday, May 05, 2020Chevron is currently running five rigs in the Permian basin, the company's chairman and CEO, Mike Wirth, revealed in a recent Bloomberg television interview.
Shale Producers Eye Potential Fracking Revival at $30 Oil
Tuesday, May 05, 2020Some shale producers said all they need is $30 oil to consider bringing back curtailed crude output.
Amid Oil Rout, Challenge Is Picking Which Wells Close
Monday, May 04, 2020Figuring out which wells to shut, and for how long, is the hard part.
Regulator Says Texas Quotas on Oil Output Are DOA
Monday, May 04, 2020He expects a proposal for mandated production cuts is now dead a day before the state will vote on the measure.
Permian Drillers Slash Output Themselves
Monday, May 04, 2020On the same day OPEC-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts.
Conoco Updates Voluntary Cut Volumes
Friday, May 01, 2020ConocoPhillips estimates its voluntarily production cut in May will amount to 265,000 barrels of oil per day gross.
OPEC Output Surged Most in 30 Years in April
Friday, May 01, 2020Saudi Arabia, the cartel's most powerful member, pumped a record of more than 11 million barrels a day.
Saudi Oil Exports Soar Ahead of OPEC+ Cuts
Thursday, April 30, 2020The oil-price war may be over, but the effects are still rippling through the market.
The Outlook for US Oil and Gas Production
Wednesday, April 29, 2020Longer-term, the outlook for US production is not all gloom as domestic demand will clearly return.
How Much Oil Does OPEC Really Have?
Monday, April 27, 2020With Saudi Arabia as the linchpin, OPEC's importance in the global oil market is clear.
US Fracking Set for Biggest Ever Monthly Drop
Friday, April 24, 2020The Covid-19 pandemic, coupled with low oil prices, is likely to cause the largest monthly drop in fracking activity ever recorded in the United States, according to Rystad Energy.
Oil Slump, US Sanctions Push Iran to Desperate Sales Tactics
Thursday, April 23, 2020Dire market conditions and Covid-19 have sent Iran scrambling for ways to monetize its sanction-ridden barrels at a time of historically low prices.
Saudis and Russia Hint at Further Action
Friday, April 17, 2020Saudi Arabia and Russia signaled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem crude's downward spiral.
OPEC Sees its Oil Demand Dropping to Lowest in 30 Years
Thursday, April 16, 2020It hasn't pumped this little crude since early 1989.
API Urges RRC to Avoid Oil Market Intervention
Wednesday, April 15, 2020The American Petroleum Institute has urged the Texas Railroad Commission to avoid intervening in oil markets.
Texas Railroad Commissioner Talks Proration
Tuesday, April 14, 2020RRC commissioner Ryan Sitton gives a statement prior to the group's proration hearing on Tuesday.
OPEC+ Confirms Production Cut Details
Friday, April 10, 2020After much speculation, OPEC+ has finally confirmed what the group agreed to at its latest webinar meeting, which lasted for several hours.
North American Associated Gas Output Could Fall 10 Bcfd
Wednesday, April 08, 2020IHS Markit sees big changes on the horizon for the North American natural gas supply.
Who Is In and Out of OPEC++ Output Deal?
Wednesday, April 08, 2020The Organization of Petroleum Exporting Countries and its allies are set to meet by video conference at 4 p.m. Vienna time on Thursday.
Shale Cuts to Fall on Smaller Drillers as Glut Crushes Market
Wednesday, April 08, 2020US shale drillers are engaged in a bitter test of wills as sinking oil prices force the weakest operators to retreat.
Oil Edges Higher as Producers Move Toward Deal
Tuesday, April 07, 2020Oil resumed gains on signs the world's biggest producers are moving toward a deal to call off their price war and cut output as the coronavirus eviscerates energy demand around the world.
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