Peak Permian oil output is closer than you think, investor says
Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor.
shale
The top company in Texas’ birthplace of shale exits for $770m
The birthplace of the shale industry is losing the last of its top industry players after Devon Energy agreed to sell its remaining position in the Barnett shale for $770 million.
OPEC+ gambles on demise of US shale’s golden age
For years, OPEC ignored the rise of the U.S. shale industry and came to regret its mistake. Now, the group is making another bold gamble on America’s oil revolution: that’s its golden age is over.
Tendeka polymer tech to boost shale gas recovery 250%
Tendeka has developed a new polymer treatment to increase recovery from shale reservoirs by 250%.
ADNOC goes for gas
Innovation and new approaches are dominating ADNOC’s drive for new sources of gas.
Low demand, US supply squeeze OPEC
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
The place for gas in South Africa’s energy plans
The South African government has published its Integrated Resource Plan (IRP) with the aim of setting out the country’s future energy mix.
Demand overshadows risks
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Sonatrach reaches out to Chevron
Algeria’s state-owned Sonatrach has held talks with Chevron this week, with technical workshops held in order to consider joint opportunities.
US exports more oil than Saudi Arabia thanks to shale production
The US briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more.
Worst is yet to come for shale drilling, biggest rig owner warns
America’s biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon.
North Sea producers adopting US shale philosophy
The U.S. oil boom changed the petroleum industry forever. Now its philosophy is being adopted by conventional producers in the North Sea.
Big Oil won’t be buying up Permian strugglers
Big Oil probably won’t be buying up the Permian Basin’s struggling independent drillers any time soon.
Huge scale of US shale
Moss Creek Resources recently set a new record for drilling a well in the Permian Basin, the onshore resource that has dramatically transformed the fortunes of the US oil and gas industry.
Lower fracking prices continue to sting Halliburton in first quarter
Lower prices for hydraulic fracturing services in North America continue to sting Houston-based Halliburton, the second largest oilfield service company in the world.
Offshore drilling makes comeback after years in shale’s shadow
Offshore is ready for the limelight again.
Infected US shale oil turned away by Asia
The complex web of U.S. pipelines, tanks and export terminals that’s helped make America the world’s top oil producer is causing a headache for some crude buyers.
UK shale well production estimated at almost double, UKOOG report
The potential for shale well production is almost double the original reported amount, according to a new forecast from a UK oil and gas trade body.
Shale slowdown dents Halliburton worse than Schlumberger
The world’s biggest oilfield service companies are feeling the U.S. fracking slowdown as shale producers slash spending forecasts. But Halliburton Co. may be bearing the brunt of the pain while arch-rival Schlumberger Ltd. benefits from its bigger internationally footprint.
Huge backlog could trigger new wave of shale oil
The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow.
Tough task for dealmakers in ‘sluggish’ upstream market, Woodmac says
Volatile oil prices are hindering global M&A deals by creating uncertainty, widening the asset valuation gap between buyer and seller, and making companies re-think their strategies, analysts said.
Offshore service market growth to eclipse shale in 2019, Rystad says
Offshore service market spending will outgrow onshore shale this year, energy researcher Rystad Energy said.
Goldman cuts oil price forecasts, citing US shale resilience
Goldman Sachs Group Inc. cut its oil price forecasts for 2019, citing a re-emerging surplus of oil and resilient U.S. shale production.
Shell ‘in talks’ to buy Endeavor Energy in cut-price deal
Royal Dutch Shell is in negotiations to buy Endeavor Energy Resources LP for about $8 billion, according to people familiar with the matter, or roughly half as much as the Texas oil producer was expected to fetch when it put itself on the block this year.
Crystal ball needed to predict prices thanks to shale boom, trading ‘God’ says
Andy Hall, the oil trader nicknamed “God” for his lucrative calls on crude, says the U.S. shale boom has made it far harder to predict global supplies.