IHS report: Oil company hedging makes a big drop in 2016

Credit cuts could hurt but won’t affect U.S. oil supplies, researchers say

At least two thirds of the oil and gas extracted from fields in the Lower 48 are controlled by large producers that don’t rely heavily on reserve-based corporate loans or aren’t expected to be reviewed this year, Wood Mackenzie says.
(Jerry Lara/San Antonio Express-News)

Oil-producing solar farm nears construction start

The 1-gigawatt solar-thermal project will turn water into steam for injection into an oilfield in Oman.
Report: Oil falling, but Eagle Ford, Bakken output on the rise

TPH: Production from Big Three shale plays will suffer with $50 oil

The lingering crude slump is expected to drive down production next year in the nation’s premiere oil patches — West Texas’ Permian Basin, South Texas’ Eagle Ford and North Dakota’s Bakken shale.
A Noble Energy rig off the south coast of Cyprus in the Mediterranean Sea. (AP Photo/Cyprus Press and Information Office, File)

Freeport-McMoRan finds more oil in the deep Gulf of Mexico

The Houston oil company, a unit of copper miner Freeport-McMoRan, said Monday it expects to start bringing up oil and gas from three development wells it drilled at its Horn Mountain Deep field by the first half of 2017.
Floor hands David Vannapha, left, Mario Ramos, center, and Jose Garza make a pipe connection on the drill string on the Orion Perseus drilling rig near Encinal in Webb County, Texas, U.S., on Monday, March 26, 2012. The Perseus is drilling for oil and gas in the Eagle Ford Shale, a sedimentary rock formation underlying an area of South and East Texas. Photographer: Eddie Seal/Bloomberg *** Local Caption *** David Vannapha; Mario Ramos; Jose Garza

Low prices keep eating into oil and gas investment

Drilling for oil requires a large amount of capital, meaning that investment today can translate into less production in the future, although more efficient drilling can lessen the impact.
(Daniel Acker/Bloomberg)

Drillers expected to sell more assets as they slash spending

Independent oil producers are likely to cut capital expenditures by 23 percent or more in 2016, and bigger companies could reduce spending 8 percent on average, Wunderlich Securities said Wednesday.
Total headquarters outside Paris. (AP file photo/Jacques Brinon)

Total cuts oil output target

The measures, laid out by the French energy company on Wednesday before an investor day in London, signal that the belt-tightening among global oil producers to protect dividends will extend into 2017 and hurt future growth.
(Jim Gehrz/Minneapolis Star Tribune/MCT)

Shale drillers spending most of their cash paying off high debt

North American oil explorers have only hedged about 11 percent of their oil production in 2016. That’s well below the 28 percent of oil production they’ve hedged in the third quarter of this year and , according to research firm IHS.
(Photo by NOAA via Getty Images)

Halfway through hurricane season, weather largely calm

The hurricane season runs from June 1 through November, and usually peaks from mid-August through late October. This year’s season started early when Tropical Storm Ana struck South Carolina in May, but has been quiet since. No major hurricanes have formed.
(Photo by Eddie Seal for Bloomberg News)

Texas drilling permits down by nearly two-thirds since last year

Texas issued 864 drilling permits in August, compared with 2,440 a year earlier.