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.
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.
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 has developed a new polymer treatment to increase recovery from shale reservoirs by 250%.
Innovation and new approaches are dominating ADNOC’s drive for new sources of gas.
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
The South African government has published its Integrated Resource Plan (IRP) with the aim of setting out the country’s future energy mix.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
Algeria’s state-owned Sonatrach has held talks with Chevron this week, with technical workshops held in order to consider joint opportunities.
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.
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.
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 probably won’t be buying up the Permian Basin’s struggling independent drillers any time soon.
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 prices for hydraulic fracturing services in North America continue to sting Houston-based Halliburton, the second largest oilfield service company in the world.
Offshore is ready for the limelight again.
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.
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.
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.
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.
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 spending will outgrow onshore shale this year, energy researcher Rystad Energy said.
Goldman Sachs Group Inc. cut its oil price forecasts for 2019, citing a re-emerging surplus of oil and resilient U.S. shale production.
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.
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.