Forbes – Much has been reported about the many impacts the COVID-19 pandemic has had on the U.S. oil and gas industry,...
Forbes – Oil service companies are struggling as French giant Schlumberger announced on Wednesday that it will book a $1.4 billion charge against its...
Roger Conrad – Forbes – The whole thing took almost a year and a half from start to finish. But Atlantic Coast...
By: Christopher M. Matthews and Andrew Scurria – The Wall Street Journal – Banks are slashing credit lines to shale drillers, as...
Houston Chronicle – More than 100,000 U.S. oil and gas jobs have been lost during the economic downturn brought on by the...
Houston Chronicle – Global spending on oil and gas drilling this year is forecast to fall to the lowest level in 15...
S&P Global Platts – Natural Gas is on the move as the massive drawdown in active rigs in Oklahoma’s SCOOP/STACK plays has...
Adrian Hedden – Carlsbad Current Argus – Oil and gas in the Permian Basin could be headed for recovery as prices rebuild...
Bloomberg – Chesapeake Energy is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the...
Barrons – Falling fossil fuel demand coupled with mounting risk for investors could slash the value of oil, gas and coal reserves...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. Oklahoma lost 1 rig, down to 43 rigs now running.
The total oil and gas rig count, an early indicator of future output, fell by four to 600 in the week to May 24, the lowest since January 2022. Baker Hughes said that puts the total rig count down 111, or 16%, below this time last year.
Oil rigs were unchanged at 497 this week, while gas rigs fell by four to 99, their lowest since October 2021.
That cut the rig count in several states and one basin to their lowest levels in years.
In Texas, the state with almost half of the country's operating rigs, the count fell by three to 287, the lowest since February 2022, while in West Virginia, drillers cut two rigs, leaving just six active units, the lowest since August 2020.
In the Marcellus in Pennsylvania, West Virginia and Ohio, the nation's biggest shale gas-producing basin, the rig count fell by three to 26, the lowest since October 2021.
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...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
Key Highlights Global oil inventories are expected to grow more than 2 million b/d...
The race to lower costs and accelerate production timelines in the Permian Basin has...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
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...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
Mergers and acquisitions in the U.S. oil and gas sector surged in 2024, more...
US crude inventories drop by 6 million barrels, exceeding forecasts Uncertainty over Ukraine peace...
Have your oil & gas questions answered by industry experts.