Shale Oil & Gas News


U.S. Drillers Add Most Rigs Since Feb 2018

Dec 20, 2019

U.S. energy firms added the most oil rigs this week since February 2018 - primarily in the Permian shale - even though producers have been reducing spending on new drilling for much of this year.Companies added 18 oil rigs in the week to Dec…

U.S. Drillers Add Rigs for first Week in Eight

Dec 13, 2019

U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling.Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667, energy services firm…

Croatia Awards Licence to INA for Gas and Oil Exploration

Dec 05, 2019

The Croatian government said on Thursday it had awarded a licence to energy group INA for gas and oil exploration and exploitation on one block in the country's central and mountainous southern area.It gave no financial details.Earlier this…

U.S. Drillers Cut Rigs for 12th straight Month

Nov 27, 2019

U.S. energy firms reduced the number of oil rigs operating for a record 12th month in a row after this week cutting rigs for a sixth consecutive week as producers slash spending on new drilling.Drillers cut three oil rigs in the week to Nov…

MOL Purchases Azerbaijan ACG, BTC Pipeline Stakes

Nov 04, 2019

MOL has signed an agreement with Chevron Global Ventures Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated E&P and mid-stream interests in Azerbaijan, including a 9.57% stake in the Azeri-Chirag-Gunashli (ACG) oil field, and an effective 8…

U.S. NatGas Prices Near 25-year Low as Glut Weighs

Oct 30, 2019

In the shale field that helped launch the U.S. natural gas boom a decade ago, Chesapeake Energy Corp this month set aside its last drilling rig. The problem for the once No. 2 U.S. gas producer was not a lack of gas, but too much of it.A long…

ConocoPhillips Profit Beats Estimates

Oct 29, 2019

US oil and gas company ConocoPhillips' quarterly profit shot ahead of analysts' estimates on Tuesday, as higher shale production offset the impact from lower crude prices and higher exploration costs.Total production, excluding Libya, rose 98…

ProPetro Cuts Almost 150 Workers

Oct 14, 2019

ProPetro Holding Corp this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling.The job cuts reflect slowing shale activity due to weak prices for oil and gas…

Baker Hughes: U.S. Oil Drillers Cut Rigs Again

Sep 06, 2019

U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept…

Baker Hughes: U.S. Cuts Rigs for Fifth Straight Week

Aug 02, 2019

U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row as most independent producers cut spending even though majors were still pushing ahead with investments in new drilling.Drillers cut six oil rigs in the week to Aug…

Husky Energy Beats Profit Estimate

Apr 26, 2019

Canada's Husky Energy Inc beat analysts' estimates for quarterly profit on Friday, as it benefited from improved Canadian crude prices following Alberta's output cuts and investment in a number of refineries and pipelines boosted its margins per barrel…

US to Overtake Saudi in Oil Exports

Mar 08, 2019

United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company…

US Rig Count Lowest Since May 2018

Mar 01, 2019

U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1…

DOE Chief Perry: OPEC Bill Could Spike Oil Prices

Feb 28, 2019

The United States needs to be cautious about pending legislation that would allow the Justice Department to sue OPEC and other oil producers over supply cuts because it could result in higher prices in the long term, U.S. Energy Secretary Rick Perry said on Thursday…

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