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Energy Information Administration

The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Texas shed 28,300 oil and gas jobs since December

The oil slump has claimed at least 28,300 oil and gas jobs in Texas since December as the industry continues to pare back amid the worst downturn in years.
EIA: Eagle Ford Shale production to dip in July

EIA: Oil firms’ deficit between spending and cash balloons to $50 billion

The plunge in crude prices cost oil companies some $35 billion in operating cash flow in the second quarter, the U.S. Energy Information Administration said Thursday.
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.
(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.
(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.
Report: Oil falling, but Eagle Ford, Bakken output on the rise

Agency says US oil production will slip to 8.6 million barrels a day next year

Government analysts predicted on Wednesday that low oil prices will send U.S. crude production down through the middle of 2016 before it starts to grow again.
eia gas prices

Gasoline prices are at their lowest in 11 years for the week leading into Labor Day

The report from the U.S. Energy Information Administration noted that the last time prices were these low was 2004. The price of a regular gallon of gasoline is down 95 cents from the same time in 2014.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. The fastest oil-inventory growth on record at the main U.S. hub may be about to end, easing concern that storage limits will be strained. Photographer: Daniel Acker/Bloomberg

Crude ends with a gain, after volatile day of trading

U.S. benchmark oil futures had opened lower on the day but traded to a gain shortly before the report was released. After the inventory data came in, prices reversed course and fell by 98 cents or 2.16 percent to $44.43 per barrel.
An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Government report: Gasoline prices won’t climb if U.S. exports its oil

The EIA analysis also throws some cold water on the entire pro-export crusade, suggesting that widely selling U.S. crude abroad would do little to boost either domestic oil prices or production.
(AP Photo/Charles Rex Arbogast, File)

EIA revises US oil production estimates lower; June output sank

The federal government believes daily U.S. crude production fell to 9.3 million barrels in June, down by 100,000 barrels in the prior month, as low oil prices continue to discourage drilling.