Shale Oil & Gas News

 

Texas Oil Drilling Permits Rose 34% in April

May 10, 2018

Texas's energy regulator issued a third more oil and gas drilling permits in April than a year ago, according to data released on Thursday, as higher prices continue to spur an increase in activity.The Railroad Commission of Texas, which regulates the state's oil and gas industry…

US Oil Rig Count Continues Climb

Apr 27, 2018

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…

US Drillers Add Oil Rigs for Third Consecutive Week

Apr 20, 2018

U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices near three-year highs.Drillers added five oil rigs in the week to April 20, bringing the total count to 820…

Is Aramco Share Sale Distorting OPEC Policy? Kemp

Mar 07, 2018

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…

Oil Rises as OPEC Compliance Eclipses US Output

Feb 01, 2018

U.S. production tops 10 mln bpd for first time since 1970 as U.S. inventories rise by 6.8 mln bbls. Oil prices rose on Thursday after a survey showed OPEC's commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970…

Why Canada is the Next Frontier for Shale Oil

Jan 29, 2018

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…

Oil Hits $71 for First Time Since 2014

Jan 25, 2018

Brent reaches $71.20, highest since December 2014; U.S. crude inventories fall for a record 10th straight week. Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U…

IEA Sees Oil Markets Tightening as PDVSA Output Sags

Jan 19, 2018

As U.S. oil output is poised to overtake Saudi Arabia, Venezuelan oil output is at 30-year low - and could fall further. Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017's biggest unplanned output fall and could see a further decline in 2018…

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