Category: Shale

Chevron pulls out of shale gas exploration in Romania

The company began drilling for shale gas at its exploration well in northeastern Romania in 2014, a project that drew protests. It is also ending its three other concessions in Romania.  More »

Fuel-hauling trains could derail at 10 a year

The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a den…  More »

U.S. rig count falls by 48 as market watches for signs of slowing output

This week’s count brought the number of active U.S. rigs down to 1,310, a figure that has plummeted by more than 460 compared to last year.  More »

Pioneer’s chairman and CEO: Exporting oil could equate to more jobs, production and investment

Lifting the ban now would be less painful for consumers because if gasoline prices were to rise, the increase wouldn’t be as much, Scott Sheffield said.  More »

Noble Energy CEO: Israel gas investments stalled this year by impasse with government

In a quarterly conference call with investors on Thursday, Noble CEO David Stover called the antitrust decision an example of the uncertain regulatory environment in Israel and said the two parties would have to come to an agreement on the matter before Noble could invest significantly in Israel’s energy sector.  More »

Commentary: the US crude conundrum

The current US oil market is in the midst of a slugfest reminiscent of a Rocky fight, as competing influences face off against one another, says Voices poster Matt Smith.. In one corner we have rising US shale oil production, while in the opposing corner we have a precipitously falling rig count.  More »

U.S., Russia fight over Europe’s energy future

It’s all about heat and electricity for tens of millions of Europeans.  More »

U.K. lawmakers urge fracking moratorium

Hydraulic fracturing in shale for oil and gas should be put on hold in the U.K. because of risks to public health and the environment, a panel of lawmakers said.  More »

BHP backing away from U.S. drilling

BHP Billiton Ltd., the biggest overseas investor in U.S. shale, will cut the number of its rigs there by about 40 percent as plunging petroleum prices add to concerns about lower iron ore earnings.  More »

Canadian drilling services firm files bankruptcy

A Canadian company that expanded into South Texas in 2012 with a pioneering waterless technique to fracture shale rock has filed for bankruptcy protection as it seeks to reorganize.  More »

U.S. rig count sees biggest drop in six years

This week’s plunge marked the third-biggest one-week drop since Baker Hughes began tracking rig data in 1987.  More »

Ratings agencies warn of U.S. oil company, Venezuelan defaults

Fitch Ratings said it expects the default rate for U.S. energy junk bonds to rise from 0.7 percent over the next few years, though it didn’t forecast a specific rate.  More »

Swift Energy cuts annual budget 75 percent

Swift shares have fallen 79 percent since June 20, when oil prices peaked in 2014.  More »

NY fracking ban seen as having little impact on supply

Scientists say New York’s available reserves of natural gas in the sprawling Marcellus Shale are minuscule compared to what can be extracted in other states such as Pennsylvania and West Virginia.  More »

North American oil spending to plunge $58 billion, Barclays says

North American oil producers and oil field service firms are expected to cut deep into the U.S. shale boom.  More »
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