Shale
News
March 25, 2021
The backlog of drilled but uncompleted shale wells called DUCs is rapidly shrinking as oil prices rise, signaling that producers are ready to put drilling crews back to work as the industry rebounds from its pandemic-driven downturn.
News
March 24, 2021
The oil price needed to profitably drill a new well is $52 a barrel, executives from almost 100 producers said in the latest quarterly survey by the Federal Reserve Bank of Dallas. That’s an increase of 6%, compared with when the question was asked last year. To cover costs on existing wells, companies need $31, which is 3% more than last year.
News
March 22, 2021
It hasn’t been this cheap for U.S. shale operators to raise money on the high-yield bond market since oil was at $100 a barrel in 2014, so they’re jumping on the opportunity to refinance debt at lower rates.
News
March 22, 2021
An upstart driller in Mexico aims to provide 10% of the country’s natural gas needs as it develops prospects south of Texas’s border.
News
March 18, 2021
If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch.
News
March 12, 2021
A round-up of data on shale drillers shows they’re sticking to their pledge to cut costs, return money to shareholders and reduce debt. If they stay the course, it would validate the OPEC+ alliance’s high-stakes wager that it can curb output and drive crude prices higher without unleashing an onslaught of supply from U.S. rivals.
News
March 10, 2021
The sustained OPEC+ production curtailment through April suggests that supply will remain constrained in the near term, even as demand continues to increase. As a result, the U.S. Energy Information Administration expects that further inventory withdrawals to meet rising crude oil demand will support crude oil prices through at least the end of April.
News
March 01, 2021
While oil majors and publicly-traded counterparts are mostly sticking to the mantra of drilling discipline, private operators’ ambitious growth plans present the OPEC cartel with a wild card as prices rebound and it attempts to boost its own oil production.
News
February 24, 2021
“I’m still a strong believer that demand is going to come back strong, both on airlines and also driving around the world once we get herd immunity,” Pioneer Natural Resources CEO Scott Sheffield said on a conference call Feb. 24.
News
February 19, 2021
YPF is aiming for capital expenditures this year of $2.7 billion, as it tries to halt four years of production declines. After the coronavirus pandemic decimated revenue and the debt swap yielded limited results, getting there will require increasing fuel prices, cutting drilling costs, selling local debt, and maybe divesting assets.
News
February 18, 2021
Calgary-based Crescent Point, an oil driller with a focus on Saskatchewan, will acquire Shell’s Kaybob Duvernay assets for $550 million in cash and 50 million Crescent Point common shares.
News
February 16, 2021
The biggest provider of oil and gas rigs to the U.S. shale patch is pushing a new pricing model as speedier drilling cuts into contractors’ revenue.
News
February 16, 2021
U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts.
News
February 15, 2021
The Arctic blast gripping the central U.S. may threaten crude exports from one of the world’s top producers, amid rapidly-normalizing global stockpiles that point to the success OPEC has had in draining a surplus left in the wake of the pandemic.
News
February 10, 2021
Chesapeake Energy, the once-iconic energy explorer that helped ignite the American shale-gas boom, is emerging from bankruptcy protection a shadow of its former self. And in a way, that’s just fine with its boss.
News
February 10, 2021
Texas’s energy regulator is taking an uncharacteristically critical approach toward burning off excess natural gas, a sign that growing pressure from environmentalists and investors to curb the controversial practice is paying off.
News
February 03, 2021
Creditors of Argentina’s state-run oil company, YPF SA, are sending mixed signals as one group of bondholders rejected the company’s latest debt restructuring plan while another voiced support.
News
January 28, 2021
How the fragmented U.S. shale industry will respond to increased incentives to drill has become a crucial question for traders and industry watchers across the world.
News
January 20, 2021
Traders have piled into oil this year, with output cuts from Saudi Arabia helping drive prices to the highest since February.
News
January 18, 2021
The top U.S. financial regulator’s reported investigation into how Exxon Mobil values shale assets follows years of concerns about the industry’s rosy projections, which have left hundreds of billions of dollars of investor losses and writedowns.
News
January 15, 2021
The probe may cast a shadow over Exxon’s efforts to turn a corner after its shares posted their worst annual performance in 40 years in 2020 amid a collapse in oil prices. CEO Darren Woods has been forced to slash spending, and last month the company said it will write down the value of North and South American natural gas fields by as much as $20 billion.
