Oil Prices ///

Industry at a glance

Craig Fleming

Despite restricted Russian supply, due to the war in Ukraine, crude prices slipped in April. WTI dropped 6.2% to $101.78/bbl, with Brent trading at $101.78/bbl, down 13.2% compared to March. Despite lower prices, U.S. operators finally started ramping up drilling activity, which is typically the case in a high-price environment.

The Last Barrel: What a difference a war makes

Craig Fleming

The dire predictions by executives and consulting firms about the short-term/long-term effects of Covid-19 on the industry were overwhelming. The unrelenting onslaught of “we will never recover” or “nothing will ever be the same” seemed short-sighted.

Oil and gas expansion accelerates as outlooks improve significantly

Michael Plante, Kunal Patel

Compared to fourth-quarter 2021, the Dallas Fed’s survey found that U.S. E&P activity surged in first-quarter 2022. However, there are still a few question marks that will linger through the year.

The last barrel: U.S. industry adapts to new normal

Craig Fleming

Despite WTI surging to an 11-year high of $108.50/bbl in March, U.S. shale operators resisted ramping-up drilling activity and remained disciplined with capital expenditures.

World Oil editorial: Biden’s latest energy move confuses the public even more

Staff

For the second time in a week, U.S. President Joe Biden managed to confuse the American public, taking advantage of the average person-on-the-street’s lack of knowledge about the global oil market.

The last barrel: Offshore activity to rebound

Craig Fleming

With the havoc created by the war in Ukraine and the hard push to convert to renewables, operators are once again focusing on the high ROI that offshore prospects offer. There is an onslaught of good news and positive indicators that suggest operators are poised to significantly increase offshore development in 2022.

First Oil: Poor U.S. energy policy clashes with global realities

Kurt Abraham

As many in the upstream industry anticipated, military action in Ukraine has sent oil and gas prices to their highest levels since 2008, with crude peaking at well above $100/bbl, with no end in sight.

Acquisitions and divestitures: Driving the oil and gas industry’s profitability and growth

David Levitt

More M&A activity is expected throughout 2022 within the OFS sector, as the market continues to consolidate during the balance of the current recovery.

Industry at a glance

Craig Fleming

Tensions between Russia and Ukraine, combined with surging demand, caused oil prices to increase approximately 20% this year, with WTI and Brent hitting $90.61/bbl and $96.43/bbl, respectively, in February.

2022 Forecast: U.S. proved reserves drop sharply

Staff

Operators revised their proved reserves downward in 2020 and postponed development drilling.

The last barrel: The Trifecta for U.S. gas producers

Craig Fleming

The abundant supply of natural gas in the U.S is starting to pay dividends, in spades. The U.S. became the world’s number-one exporter of liquefied natural gas for the first time ever in December.

Oil and gas in the capitals: The new realities of energy markets

Dr. Anas F. Alhajji

The year 2021 witnessed unprecedented development in the energy markets. Such events were contrary to conventional wisdom and have ramifications for the oil markets, for years to come.

First Oil: What a difference a year makes

Kurt Abraham

While last year Covid seemed to be withering away, this year Covid is still around but definitely on the decline. Spot prices are high enough for everyone to make a profit, and then some, averaging lately in the high $80s to low $90s (perhaps too high).

2022 Forecast: U.S. activity to jump as oil prices surge, companies adjust to energy transition

Craig Fleming, Kurt Abraham

Despite higher oil prices, U.S. shale operators have (until recently) resisted ramping-up drilling activity and remained disciplined with capital expenditures.

2022 Forecast: U.S. operators respond cautiously to higher crude prices

Staff

The average U.S. rig count for 2021 increased almost 9% from the previous year, though companies remained cautious with ramping up drilling activity.

2022 Forecast: U.S. crude output falls slightly, natural gas rises

Staff

U.S. oil production decreased mildly during 2021. A surge in gas prices during 2021 was influenced by increased demand despite Omicron and geopolitical unrest in Europe.

Industry at a glance

Craig Fleming

Industry at a glance

Craig Fleming

Industry at a glance

Craig Fleming

Executive viewpoint

Andy Brogan

OPEC in the energy transition: What have we learned from the pandemic?

Industry at a Glance

Craig Fleming

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