U.S. oil producer Magnolia Oil & Gas Corp aims to at least triple in market valuation in coming years as it develops shale acreage across eastern and southern Texas, Chief Executive Steve Chazen said on Wednesday.Magnolia's shares have rallied…
In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP's shale business turn a profit for the first time.Thousands of automated wells feed data on their performance into the firm's supercomputers each evening…
The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits from crude trading near three-year highs.Drillers added five oil rigs in the week to April 27…
By restraining production, OPEC and its allies have succeeded in eliminating excess oil stocks and accelerating the recovery in prices, but they are paying an increasingly high price in terms of market share. U.S. producers will capture all the growth in global oil consumption this year…
The revolution in U.S. shale oil has battered Canada's energy industry in recent years, ending two decades of rapid expansion and job creation in the nation's vast oil sands. Now Canada is looking to its own shale fields to repair the economic damage…
Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency (IEA), which warned that both trends could continue this year…
Even though the oilfield service market in shale is the place to be in 2017, Rystad Energy says there is clear evidence that offshore projects are still being prioritized by exploration and production (E&P) companies. In fact, for every…
Cubility, a provider of solids control solutions, has launched CubeLink, a technology that aims to improve the transportation of drilling waste. CubeLink transports drilling waste directly from shale shakers or Cubility’s own MudCube…
Colin Welsh Good news at last! In recent months, I have endeavored to counter some of the gloom that has pervaded the oil business for the last eight quarters by highlighting fundamentals such…
Saudi Arabia’s reluctance to cut production to maintain its share of the global crude market has paid off. By not “blinking first”, the Kingdom has succeeded in driving rigs out of the US shale market with current rotary rig counts down 65% from 2014 highs in September…
Image: Brandon Buzarde/Cubility Cubility has appointed Brandon Buzarde as vice president, international sales. Buzarde, who will be based in Houston, will be tasked with increasing…
Danish entrepreneurs are taking on the rig tool market. Emma Gordon explains. Rigtool’s bottomhole assembly wash tool. Images from Rigtools. When Rigtools was set up five years ago…
M-I SWACO, a Schlumberger company, released SCREEN PULSE fluid and cuttings separator. Easily installed onto new or existing shale shakers, the fully pneumatic system delivers drilling fluid recovery of up to 30 b/d and an average drill cuttings waste reduction of 20%…
An oil price below US$70/bbl will not be sustainable long term, according to Norwegian energy analysts Rystad Energy. Speaking at the firm’s offices in Oslo, senior analyst Audun Martinsen outlined how the firm sees current global liquids…
Eckhard Hinrichsen analyses the race for oil and gas reserves as the market liberalizes. The Mexican energy industry is at last open to foreign companies. Investment opportunities abound as the important first licensing rounds loom. The…
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