By: Janelle Stecklein – Pauls Valley Daily Democrat – The year 2020 has been the worst in recent memory for the state’s...
By: Thomas Lee – Argus Media – Private equity (PE) investors are accelerating a shift away from the US shale oil sector...
By: Adrienne Murray, Denmark – BBC – Denmark will end all new oil and gas exploration in the North Sea, as part...
By: Greg Avery – Denver Business Journal – FourPoint Energy is getting out of oil and gas operations in Oklahoma after a...
By: Reuters – Exxon Mobil on Monday said it would write down the value of natural gas properties by $17 billion to $20...
By: Jennifer Hiller & Scott DiSavino – Reuters – Higher natural gas futures prices for 2021 and a continued glut of crude...
By: Noah Browning and David Evans – Reuters – The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts...
By: Laura Sanicola – Reuters – If U.S. President-elect Joe Biden tries to restrict the development of oil and gas drilling on...
By: Dania Saadi – S&P Global Platts – Abu Dhabi National Oil Co.’s (ADNOC) oil discoveries will help boost its production capacity...
By: Lucia Kassai and Andrew Guerra Luz – Bloomberg – Oil tanks in America’s most important crude storage hub are filling to...
Diamondback Energy, the largest independent oil and gas producer in the Permian Basin, has warned that the U.S. shale industry may be repeating past mistakes of unsustainable growth. The company plans to limit its own output growth to 2% next year, emphasizing the need for financial discipline over aggressive production expansion.
Diamondback's CFO, Kaesa Van't Hof, cautioned that other companies' focus on lowering break-even costs to justify growth has "gotten this industry in trouble in the past" and may be leading the industry back down a problematic path. The broader shale sector is closely monitored, as rising U.S. production has put pressure on OPEC, leading the cartel to delay a planned production increase. Some producers, such as Matador Resources and ConocoPhillips, have already raised their production guidance, but Diamondback aims to prioritize free cash flow over capital expenditure growth.
The U.S. Energy Information Administration reported an inventory build of 2.1 million barrels for the week to November 1. EIA HERE
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
By Adam Smeltz | UNIVERSITY PARK, Pa. – Oil produced from shale reservoirs drove...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
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The race to lower costs and accelerate production timelines in the Permian Basin has...
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by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
By Andreas Exarheas | RigZone.com |The U.S. Energy Information Administration (EIA) cut its West...
The U.S. Geological Survey has released a fresh look at the Phosphoria Total Petroleum...
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