Apache has already spent $14 million to install production facilities at two fields in Egypt’s Western Desert. More »
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 »
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 »
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 »
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 is scheduled to next meet in Vienna in June, seven months after deciding to maintain output levels and protect market share. More »
By 2016, the Gulf will account for about 17 percent of total U.S. crude production. More »
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.
BHP Billiton, the Australian energy giant with a major presence in Texas, reported that its profits were down 47 percent More »
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 said Friday its earnings were eroded by sagging oil prices and impairment losses linked to its international operations. More »
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 »
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 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.
Both crudes looked to settle lower on the day and to extend a run of steep losses. More »