Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Nine U.S. oil rigs sidelined this week, Baker Hughes says

The U.S. Energy Information Administration estimates domestic crude production declined by 120,000 barrels a day in September and projects it will fall to an average 8.86 million barrels a day next year from this year’s peak of 9.6 million barrels a day in April.
In this March 25, 2014 photo, a worker oils a pump during a hydraulic fracturing operation at an Encana Corp. well pad near Mead, Colo. The first experimental use of hydraulic fracturing was in 1947, and more than 1 million U.S. oil and oil wells have been fracked since, according to the American Petroleum Institute. The National Petroleum Council estimates that up to 80 percent of natural oil wells drilled in the next decade will require hydraulic fracturing. (AP Photo/Brennan Linsley)

Encana to sell Colorado fields for $900 million

The Canadian oil company drills for hydrocarbons primarily in Texas and Alberta shale formations. In Colorado, it produces a daily haul of 14,800 barrels of oil and 52 million cubic feet of natural gas on the 51,000 net acres it plans to sell.
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)

IHS: North American oil hedges sink to 11 percent in 2016

The protective hedges used by 48 petroleum companies IHS examined will cover 60 percent less of their expected production than this year.
A crude oil drill rig stands in the distance of a single family home under construction in Williston, North Dakota, U.S., on Monday, Feb. 13, 2012. North Dakota will hold its Republican presidential caucus on March 6. Photographer: Daniel Acker/Bloomberg

Real estate crisis emerging in North Dakota’s man camps

The frenzied drilling that made North Dakota No. 1 in personal-income growth and job creation for five consecutive years hasn’t lasted long enough to support the oil-fueled building explosion.

Action in today’s oil market, channeling Yogi Berra

First and foremost, RIP Yogi Berra; both a great baseball player, and a warrior with words. After a quiet first few days of the week on the data front, Wednesday has roared in like a lion, bringing preliminary global manufacturing numbers with it. China kicked off things overnight – and poorly to boot – as […]
Exxon Mobil Corp. signage is displayed at a gas station in Richmond, Kentucky, U.S., on Wednesday, April 29, 2015. Exxon Mobil Corp. is scheduled to release earnings data on April 30. Photographer: Luke Sharrett/Bloomberg

Exxon said to be on the hunt for West Texas shale bargains

Stung by the 58 percent plunge in U.S. oil prices since June 2014, many drillers face stark choices: shut down rigs to conserve capital and wait out the bust, or surrender some independence to a deep-pocketed savior in exchange for a shot at a future windfall.
(Photographer: Eddie Seal, Bloomberg)

EIA: Shale output fell by 350,000 barrels a day since April

Government analysts say shale oil fields in Texas, Colorado, North Dakota and Ohio are set to decline by 80,000 barrels a day this month, bringing their combined daily output to 5.2 million barrels in October.

Agatha Christie-like mysteries face the oil market

One and a quarter centuries to the day after the birth of Agatha Christie, and markets remain shrouded in mystery ahead of Thursday’s potential US interest rate hike. Persistent fears about emerging market economies dominate sentiment; Chinese equities were spooked 3.5% by these fears overnight, while scary South Korean import and export data did little […]
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Money Roll

Royalty checks shrink as oil, gas prices tumble

Land owners who leased their property to drillers during the oil and gas boom with the promise of steady income are feeling the pinch, the Dallas Morning News reported