Tag: production

Apache has pumped almost 1 million barrels of oil from its Egypt fields since November

Apache has already spent $14 million to install production facilities at two fields in Egypt’s Western Desert.  More »

U.S. crude production sets record in 2014

The shale boom in 2014 fueled the most dramatic rise in U.S. oil production since the government began keeping records more than a century ago.  More »

BG Group announces production from North Sea field

The Knarr oil field was discovered in 2008, and BG Group estimaes it has 80 million barrels of oil equivalent in gross recoverable reserves.  More »

Moody’s: North American oil companies cut capital spending 41 percent in 2015

North American exploration and production companies have collectively cut their capital budgets this year by 41 percent, according to a new analysis published Tuesday by Moody’s Investors Service.  More »

Oil production falling in three big shale plays, EIA says

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.  More »

OPEC keeping oil policy unless others cut, former energy minister says

OPEC is scheduled to next meet in Vienna in June, seven months after deciding to maintain output levels and protect market share.  More »

EIA: Gulf of Mexico production to continue increasing

By 2016, the Gulf will account for about 17 percent of total U.S. crude production.  More »

Guest commentary: dealing with low energy prices

Many Texans have seen this movie before, and some of us have seen it several times. Until the commodity cycle turns, as it always does, refocus on the basic blocking and tackling of running a business. Take protective measures to guard against avoidable losses.  More »

BHP Billiton’s profits have fallen by almost half

BHP Billiton, the Australian energy giant with a major presence in Texas, reported that its profits were down 47 percent  More »

U.S. rigs are being idled, but the oil boom is not ending

The industry has become better at blasting crude out of deep underground layers of rock, according to productivity data tracked by the EIA in the major shale prospects.  More »

Statoil deepens spending cuts amid oil price rout

Statoil said Friday its earnings were eroded by sagging oil prices and impairment losses linked to its international operations.  More »

Libya Islamists seen capturing oil Field in quest for funding

The militia that captured the Al-Mabruk field Wednesday could be a local branch of Islamic State a spokesman of the national Petroleum Facilities Guard said.  More »

Report: U.S. production growth could stop this year

The study could offer hope for an industry reeling from lower commodity prices that show no imminent signs of rebounding in the face of growing U.S. production volumes.  More »

Alaska faces lean budget times as oil prices plunge

Alaska heavily relies on oil revenue to fund the cost of state government, but the fall in prices has contributed to an estimated 80 percent decline in the state’s share of production taxes from last year.  More »

U.S. benchmark oil briefly trades above international oil

Both crudes looked to settle lower on the day and to extend a run of steep losses.  More »
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