Shale
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.
News
January 14, 2021
The world’s biggest fracking services provider, Halliburton has deployed the industry’s first grid-powered fracking operation on behalf of Cimarex Energy Co. To date, it’s completed almost 340 stages across multiple wells.
News
January 13, 2021
With demand still fragile, shale companies “are wise not to jump the gun and overproduce during the recovery year,” UAE Energy Minister Suhail Al Mazrouei said in an interview, adding they “need to be careful not to flood the market.”
News
January 12, 2021
The U.S. Energy Information Administration said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year, with total output nearing 11.5 MMbpd in 2022.
News
January 12, 2021
A “big chunk” of U.S. shale is profitable at current oil prices, but drillers should be aware of crude’s declining share in the future global energy mix, International Energy Agency Executive Director Fatih Birol said in an interview.
News
January 08, 2021
“Opening the shale revolution to the world through the export ban lifting helped shift the global oil market psychology from supply scarcity to abundance,” said Karim Fawaz, director of research and analysis for energy at IHS Markit. “It unshackled the U.S. industry to keep growing past its domestic refining limitations.”
News
January 07, 2021
“I have a hard time seeing the need for U.S. producers over the next several years to get back to double-digit growth,” Devon Energy CEO Rick Muncrief said in an interview. “For this management team, if we really think about 2021, let’s keep it flat.”
News
January 07, 2021
“I really don’t see much increase in the Permian basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer Natural Resources Co.
News
December 21, 2020
Diamondback said it agreed to purchase closely held Guidon Operating LLC. That cash-and-stock deal values Guidon, which was co-founded in 2016 by funds managed with Blackstone Group, at about $862 million.
News
December 21, 2020
Diamondback Energy and QEP Resources have entered into a definitive agreement under which Diamondback will acquire QEP in an all-stock transaction valued at approximately $2.2 billion, including QEP’s net debt of $1.6 billion as of September 30, 2020.
News
December 16, 2020
It looks like the mainstream media have finally realized that government intervention in energy markets impacts the cost of energy for consumers, writes Commissioner Wayne Christian, Railroad Commission of Texas.
News
December 15, 2020
Home to the Bakken shale formation, North Dakota won’t see any sustained growth in production sooner than the second half of 2022, Lynn Helms, director of the state’s Department of Mineral Resources, said.
News
December 14, 2020
Steady output from their mines means that oil sands producers are able to keep revenue coming for decades without too much investment, while the short life span of shale wells forces U.S. explorers to constantly burn cash just to keep up production.
News
December 10, 2020
Shale operators slashed their planned capital expenditure (capex) for 2020 to account for the oil price crash, which inevitably led to decline in drilling and completion activity in the Eagle Ford play. Hence, crude oil production is expected to drop by 10% year-on-year (YOY) in 2021, says GlobalData, a leading data and analytics company.
News
December 04, 2020
In the wake of fresh warnings about declining oil demand, a struggle is brewing between key exporters like the U.S. and the OPEC+ alliance to gain market share in the world's last growth region before it’s too late.
News
October 23, 2020
While it’s true the energy ecosystem is in transition, former Vice President Biden is incorrect that it means replacing one form of energy with another or phasing out oil and gas.
News
October 23, 2020
EQT Corp., the biggest producer of U.S. natural gas, is seeking to acquire rival CNX Resources Corp., according to people familiar with the matter, as M&A accelerates in the distressed shale patch.
News
October 23, 2020
After the debate, Biden sought to emphasize that the fossil fuel industry wouldn’t “be gone” until 2050, and that oil workers are “not going to lose their jobs.”
News
October 23, 2020
Energy Secretary Dario Martinez said spending on subsidies is still better than the alternative of buying LNG cargoes, despite low current prices. “We’ve done the analysis and we really benefit from doing this,” Martinez told reporters in Buenos Aires Wednesday.
News
October 23, 2020
Biden’s plans would have uneven impacts within the oil and gas sector, particularly hurting companies with significant investments on federal land. Other producers, such as Pioneer Natural Resources Co. and Hamm’s Continental Resources, which do not have federal oil leases, might see their holdings swell in value.
News
October 23, 2020
The American Petroleum Institute corrected the record on discussions about a fracking ban, implementing a carbon-free power sector by 2035, replacing natural gas and oil jobs with clean energy jobs, and policies to reduce CO2 emissions.
