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shale

Marathon Bakken drilling

‘Shale-ionaires’ suffering from wave of bankrupt oil drillers

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A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.
(Spencer Platt/Getty Images)

Just 38 miles apart, one Texas oil town is still booming and the other is dead

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For the townspeople of Karnes City, it’s like nothing ever changed: Roughnecks pack into Stripes gasoline station by the dozens to load up on Doritos and Slim Jims at the end of their shift; giant drilling rigs dominate the horizon in all directions; and the roar of tanker trucks and industrial machinery is never-ending.
(Jim Wilson/The New York Times)

Shale tech could squeeze 141 billion barrels from oil fields outside the US

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Adapting the technology that powered the shale oil boom in Texas to the deserts of Saudi Arabia and elsewhere could free 141 billion barrels of crude, research firm IHS said Thursday.
Brazil's President Dilma Rousseff (L) shakes hands with workers of Brazilian state-run oil giant Petrobras at Petrobras's shipyards in Rio de Janeiro, on September 11, 2013. (VANDERLEI ALMEIDA/AFP/Getty Images)

Brazil, Russia enter ring in U.S.-OPEC heavyweight fight

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Contenders in the battle for oil market share include Russian oil companies, Brazil’s state-run Petrobras and oil fields in China and Southeast Asia, which have all pumped thousands of barrels into a global crude glut.
(Photo by Eddie Seal for Bloomberg News)

EIA: U.S. shale production set to fall again in June

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Output growth is shrinking even in the Permian Basin, where oil companies have kept more horizontal rigs drilling for oil.
Oil Boom Shifts The Landscape Of Rural North Dakota

Money manager criticizes big bucks spent on shale wells

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Shares in U.S. shale-oil drillers including Pioneer Natural Resources Co. and EOG Resources fell after influential money manager David Einhorn criticized the large sums of cash they burn through to frack wells.
(Daniel Acker/Bloomberg)

Oil at $65 seen freeing 500,000 barrels from shale fracklog

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Producers in oil and gas fields from Texas to Pennsylvania have 4,731 idled wells at their disposal.
(Alexander Klein/AFP/GettyImages)

Oil prices retreat after OPEC reports 810,000-barrel boost in March

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OPEC predicted output from U.S. oil fields would stall out and eventually fall later this year as producers park hundreds of drilling rigs.
(Photo by Andrew Burton/Getty Images)

Shale output is falling faster than expected

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Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013.
(Photo by Andrew Burton/Getty Images)

Cheap crude won’t slow U.S. oil fields by much, EIA says

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The EIA said low oil prices would only cut the nation’s daily production by 700,000 barrels from 2022’s projected 10.4 million barrels.