Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
It’s not enough to try to keep track of the oil, condensate and natural gas drilling windows in the Eagle Ford Shale. Now the Irving-based Pioneer Natural Resources is among the companies talking about drilling the “upper” and “lower” portions of the formation. In its third-quarter call with analysts, Pioneer said it has drilled an […]
ConocoPhillips’ Eagle Ford Shale production is up. A bunch. The Houston-based company said it was making around 126,000 barrels of oil equivalent per day in the Eagle Ford in the third quarter – up 66 percent compared with the same three months last year. It exited the quarter making 130,000 barrels per day, according to […]
State-owned energy giants and international supermajors continue to top lists of the world’s largest oil companies. But the U.S. shale revolution is beginning to make a mark as U.S. independent oil and gas producers rise in the ranks.
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