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Featured Article
1.7KExplorationHanging H Ranch In Texas to Fetch Almost Half a Billion
By David Wethe – (Bloomberg) — An obscure Texas company has bid $450 million to acquire the Hanging H Ranch in one...
1.2KExplorationWhite Star Petroleum Seeks Bankruptcy Protection
Wall Street Journal – By Becky Yerak –White Star Petroleum LLC, founded by late oilman Aubrey McClendon, filed Tuesday for chapter 11, days...
516ProductionMost Common Reason Why Your Check Decimal Doesn’t Match Your Division Order
By Marsha Breazeale – Oilpatchpress.com When the decimal on your check for a gas well does not match the decimal on the...
974ExplorationMay 23, 1937: The Death Of The Ultimate Oil Man
Tom Metcalf just penned an article this week at Bloomberg, comparing the wealth of John D. Rockefeller, the oil magnate usually considered...
556ExplorationPermian giant Pioneer Natural Resources cuts 160 jobs at Irving HQ and 70 in West Texas
Dom DiFurio, Dallas Morning News – Pioneer Natural Resources laid off 230 employees Tuesday as the Irving-based driller works to cut $100...
1.6KExplorationRed Wolf Natural Resources Announces Acquisition from Apache Corporation
Red Wolf Natural Resources, LLC (“Red Wolf”), a newly formed oil and gas exploration and production company, today announced it has acquired...
1.5KExplorationThe San Juan Basin- Coming Back in Style?
Over 10 years ago, in 2008, the natural gas-heavy San Juan, centered around the town of Farmington, was the hot oil and...
607ExplorationWildcatter: The Story of Michel T. Halbouty and the Search for Oil
Michel Thomas Halbouty (21 June 1909 in Beaumont, Texas – 6 November 2004 in Houston, Texas) was an American geologist, petroleum engineer, and wildcatter. Credited with discovering more than...
504ProductionU.S. shale output to hit new record of 8.49 million bpd in June: EIA
NEW YORK (Reuters) – U.S. oil output from seven major shale formations is expected to rise by about 83,000 barrels per day...
2.8KRig CountWeekly Rig Count Update: May 10, 2019
Stay updated on oil and gas stories, prices and the weekly rig count. Sign up for our Weekly Newsletter HERE. US rig...
Snippets
- Bison Oil & Gas Lands $155 Million Injection Of Strategic CapitalBison Oil & Gas Partners II LLC...Read MoreFrom Hart Energy
- 3 Biggest Oilfield Service Giants Unlikely to Beat Earnings EstimatesBased in Houston, TX, Schlumberger Limited is...Read More
Based in Houston, TX, Schlumberger Limited is scheduled to report third-quarter 2019 earnings on Oct 18, before the opening bell.
Halliburton Company (HAL) is scheduled to report third-quarter earnings on Oct 21, before the opening bell.
Baker Hughes, a GE company is set to report third-quarter earnings on Oct 30, before the opening bell. - Oil logs first gain in 3 sessions, but worries over demand prospects persistMarketWatch - Oil futures on Wednesday registered their first climb in three sessions,...MarketWatch - Oil futures on Wednesday registered their first climb in three sessions, recouping much of the loss they suffered a day earlier, but worries over demand prospects remained, with prices holding onto a sizable week-to-date loss.Read More
Overall weakness for oil “continues to stem from broader economic uneasiness as U.S.-China trade tensions linger and a critical Brexit deadline is fast approaching,” said Robbie Fraser, senior commodity analyst at Schneider Electric.
West Texas Intermediate crude for November delivery CLX19 added 55 cents, or 1%, to settle at $53.36 a barrel on the New York Mercantile Exchange, following a two-day skid for the U.S. benchmark, trading about 2.4% lower for the week so far. The global benchmark, December Brent crude BRNZ19 added 68 cents, or 1.2%, at $59.42 a barrel, trading down 1.8% week to date. - RigUp secures $300M in fundingAustin-based RigUp, a platform for hiring contract labor in the energy sector, has closed a $300 million...Austin-based RigUp, a platform for hiring contract labor in the energy sector, has closed a $300 million fundraising round.Read More
RigUp connects exploration and production companies and oilfield service companies with contract workers, ranging from highly specialized workers to more general labor needed to extract crude oil from the ground.
The $300 million round, led by Silicon Valley venture capital firm Andreessen Horowitz, brings the company's total funding to more than $450 million. RigUp "fundamentally allows for better matching of supply and demand, resulting in significantly improved time-to-hire and visibility for both the independent contractors searching for the right projects and the energy companies looking to fill jobs with higher quality personnel," said David George, a general partner at Andreessen Horowitz. - Stratas Advisors is expecting a massive storage build Stratas Advisors are estimating a storage injection of 116 Bcf will be reported this week for the week...Stratas Advisors are estimating a storage injection of 116 Bcf will be reported this week for the week ended Oct 11. If the forecast holds, the 116 Bcf expectation will be 35 Bcf higher than the five-year average value of 81 Bcf. Last week Stratas had predicted a storage build of 97 Bcf. This was 1 Bcf lower than the actual reported value of 98 Bcf. The inventory levels are at 3,415 Bcf, 472 Bcf higher than year-ago levels and 9 Bcf lower than five-year average values. All in, they see storage changes as a negative driver for this week’s natural gas market.Read More
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249ExplorationThis is the ‘Achilles heel’ of the booming US natural gas industry that could derail its future
CNBC—The Trump administration and the U.S. Environmental Protection Agency may be weakening methane emissions rules...
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241ExplorationBig Oil Is Selling Dirty Assets, But They Aren’t Going Away
By Kelly Gilblom – Bloomberg – When BP Plc announced its historic exit from...
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228ExplorationChevron’s Shale Allies Are Its Secret Weapon In Exxon Race
By Jennifer Hiller, Reuters – MIDLAND, Texas––Chevron Corp. is turning to joint ventures and...
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153AcquisitionsParsley Energy To Acquire Jagged Peak In $2.3 Billion All-Stock Transaction
Reuters – U.S. shale producer Parsley Energy Inc on Monday agreed to buy smaller...
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150ProductionWarmington: Oklahoma natural gas fueling the world
The Journal Record – Thanks in large part to the unprecedented success of Oklahoma’s...
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146Oil & Gas NewsT. Boone’s iconic table arrives at cabinet room in Oklahoma governor’s office
Oklahoma State University has announced that a conference table used daily by the late...
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139Oil & Gas NewsU.S. Natural Gas Reserves Continue To Soar
Forbes – Jude Clemente – Ever since the U.S. shale revolution took flight in...
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127InvestingBig Tech still pursuing oil industry deals despite pledges to slash emissions
By Associated Press – New York Post—Employee activism and outside pressure have pushed big...
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99InvestingHedge funds turn bearish on oil as economy slows: Kemp
John Kemp – Reuters– By early last week, hedge funds had become the most...
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71Oil & Gas NewsNew Mexico BLM land to be leased to oil and gas industry, while Democrats call for drilling ban
Adrian Hedden, Carlsbad Current-Argus—Residents have two weeks to file comments on the federal BLM’s...
