Category: Shale

Schlumberger CEO lays out his plan to weather the crude crash

The growing re-fracturing business is one that could boost Schlumberger’s suffering bottom line amid tumbling commodity prices.  More »

Shale output is falling faster than expected

Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013.  More »

Cheap crude won’t slow U.S. oil fields by much, EIA says

The EIA said low oil prices would only cut the nation’s daily production by 700,000 barrels from 2022’s projected 10.4 million barrels.  More »

Shale boom to start busting as U.S. output set to fall

The shale oil bonanza that made millionaires from Texas to North Dakota is slowing down for the first time in years, a sign that painful industry cutbacks are starting to have an impact.  More »

EnCap raises $6.5 billion to pour into North American oil firms

Private equity firm EnCap Investments has closed its tenth energy fund with $6.5 billion to back North American oil and gas producers, the latest firm to collect billions to pump into the shale business.  More »

Reckoning arrives for cash-strapped oil firms amid bank squeeze

April is a crucial month for the industry because it’s when lenders are due to recalculate the value of properties that energy companies staked as loan collateral.  More »

Energy Department study: Shale won’t last, Arctic drilling needed now

In order for the U.S. to keep domestic production high and imports low, oil companies should start probing the Artic now because it takes 10 to 30 years of preparation and drilling to bring oil to market, according to a draft of the study’s executive summary obtained by the Associated Press.  More »

Frac sand exec to slumping oil producers: You’re not going to drill your way out of this

“Every so often we have to reinvent the oil industry again,” says an executive from frac-sand firm Trican Well Service.  More »

Return to $100 oil seen unlikely by Saudis amid shale surge

Brent oil, the global benchmark, declined almost 50 percent in the past year as Saudi Arabia and others in the Organization of Petroleum Exporting Countries committed to maintain output amid a global surplus.  More »

Report: Texas housing more resilient to oil prices

Texas’ real estate market should be able to weather lower oil prices better than it did in the 1980s, but if prices fall further, the results could be much more dire, a Texas A&M real estate economist says.  More »

Oil production falling in three big shale plays, EIA says

Crude production at three major U.S. shale oil fields is projected to fall this month for the first time in six years, the U.S. Energy Information Administration said Tuesday.  More »

Get ready for oil deals: shale is going on sale

Sellers will be companies handicapped by heavy debt and lacking the cash reserves or hedging contracts that would have provided some insulation from the market crash  More »

EIA: Eagle Ford production will slow in April

Oil production from the six largest shale plays in the U.S. will hit 5.6 million barrels per day in April, an increase of less than 300 barrels per day over March.  More »

Pennsylvania governor advances tougher gas drilling rules

The proposal is the first signal from Gov. Tom Wolf’s administration of how it will approach the natural gas industry after the Democrat campaigned last year on a promise to toughen state regulation of the industry.  More »

$1.1 billion in fast-track funding disbursed to North Dakota communities

Gov. Jack Dalrymple signed the bill last month at a ceremony at the state Capitol.  More »
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