(Victor Dubreuil)

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

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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.
(Daniel Acker/Bloomberg)

Reckoning arrives for cash-strapped oil firms amid bank squeeze

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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.
The Polar Pioneer, a drilling rig contracted by Shell for Chukchi Sea exploration in 2015, is transported across the Pacific on the heavy-lift vessel Blue Marlin. (Photo: Vincenzo Floramo / Greenpeace)

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

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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.
The sand is needed to keep open cracks in the shale after water and chemicals under high pressure fractures the rock. (Ariana Lindquist/Bloomberg)

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

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“Every so often we have to reinvent the oil industry again,” says an executive from frac-sand firm Trican Well Service.
(Photo by Eddie Seal for Bloomberg News)

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

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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.
Homes in The Lakes of Cypress Forest subdivision on Thursday, April 11, 2013, in Houston ( Smiley N. Pool / Houston Chronicle )

Report: Texas housing more resilient to oil prices

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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.
(Daniel Acker/Bloomberg)

Oil production falling in three big shale plays, EIA says

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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.
(Lucas Schifres/Bloomberg)

Get ready for oil deals: shale is going on sale

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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
(Daniel Acker/Bloomberg)

EIA: Eagle Ford production will slow in April

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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.
Gov. Tom Wolf speaks to members of the media after he signed an executive order restoring a moratorium on new drilling leases involving public lands, Thursday, Jan. 29, 2015, at the Benjamin Rush State Park in Philadelphia. The executive order ends a short-lived effort by his predecessor to expand the extraction of natural gas from rock buried deep below Pennsylvania's state parks and forests. (AP Photo/Matt Rourke)

Pennsylvania governor advances tougher gas drilling rules

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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.