The state of Oklahoma will continue to have issues hitting previous highs for oil jobs for various reasons,...
The state of Oklahoma will continue to have issues hitting previous highs for oil jobs for various reasons, said Thorberg Collectorate partner and chief economist Russell Evans, including the political effort to create jobs of similar skillsets in other sectors. Charter Oak Production Co. land manager Andy Kapchinske said, "At the end of the day, I'm hopeful that we can we can start seeing sustained prices that I think will bring more people back into these jobs."
EIA: US dry gas production is on a record-setting streak
US dry natural gas production set new monthly records of more than 100 Bcf/d in October and November...
US dry natural gas production set new monthly records of more than 100 Bcf/d in October and November and is on track to reach a record annual average of 98 Bcf/d this year before touching a new all-time high in 2023, according to the Energy Information Administration. The Haynesville Shale and Permian Basin, enabled by pipeline infrastructure expansions, have been the primary growth contributors.
More Uncompleted Wells Is Latest Sign of US Shale Slowdown
(Bloomberg) -- US oil and gas companies fracked fewer wells than they drilled for the second consecutive...
(Bloomberg) -- US oil and gas companies fracked fewer wells than they drilled for the second consecutive month, the latest sign of a slowdown in American shale despite relatively high prices and concerns about a global energy crunch.
The number of drilled but uncompleted oil and gas wells, also known as DUCs, rose by 22 from the prior month to 4,443 in November, the US Energy Information Administration said Monday.That comes after a 27-month-long streak of declines in DUC count, the longest according to EIA records dating back to the early days of shale.
Oil rises to over $80/bbl as dollar slumps on slowing inflation
Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over...
Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over a month, as investors bought up risk assets after U.S. data pointed to slowing inflation.
The market was also buoyed by concerns about supply disruptions, including the ongoing shutdown of the Canada-to-United States Keystone crude pipeline following a massive leak last week.
Brent crude futures settled at $80.68 per barrel, up $2.69, or 3.5%. U.S. West Texas Intermediate (WTI) crude futures settled at $75.39 per barrel, up by $2.22, or 3%. Both contracts recorded their biggest daily gains since Nov. 4.
The American Petroleum Institute (API) reported a build of 7.819 million barrels this week ending...
The American Petroleum Institute (API) reported a build of 7.819 million barrels this week ending a four-week streak of draws. Analysts anticipated a 3.913 million barrel draw.
U.S. crude inventories have grown by 14 million barrels so far this year, according to API data. Meanwhile, crude stored in the nation’s Strategic Petroleum Reserves sunk by nearly 15 times that figure so far this year—by 211 million barrels.
The build in commercial crude oil inventories came only as the Department of Energy released 4.7 million barrels from the Strategic Petroleum Reserves in the week ending December 9, leaving the SPR with just 382 million barrels.
Distillate stocks also saw a build this week, of 3.9 million barrels, on top of last week’s 3.55-million-barrel increase.
Cushing inventories rounded out this week’s gains, adding 640,000 barrels in the week to December 9, compared to last week’s reported increase of 30,000 barrels.
