After years of plowing money into boosting production and thus depressing oil prices, the U.S. shale patch emerged from the pandemic-inflicted slump with unwavering capital discipline which, combined ...
Tag: shale
Oil Services Industry Entering New Boom Time Thanks To Tight Market
Industrial Fracking Oil Well pumping natural resourcesFracking Oil Well is conducting a fracking … [+] procedure to release trapped crude oil and natural gas to be refined and used as energy get...
Shale Giants Dump Oil Hedges as Losses Spiral Toward $42 Billion
(Bloomberg) — U.S. shale giants stung by billions of dollars in hedging losses are spending big bucks to ditch their positions in a risky bet that prices stay high. Most Read from Bloomberg Comp...
Devon Energy, Diamondback Earnings Soar; Shale Oil Stocks Hike Payouts, Not Production
Devon Energy and Diamondback Energy (FANG) posted better-than-expected first-quarter earnings after the close Monday. Oil prices held above $100 a barrel, while natural gas prices are near their highe...
The King Of Shale Oil, The Permian Basin, Is Still Riding The Wave.
Warning of a petroleum pipeline running along the ground in the Permian Basin on March 2022 in … [+] Midland, Texas. Getty Images Riding the wave. The Permian basin, in West Texas and New Mexico...
Frackers Say Bottlenecks Impede Output Boost as Oil Prices Soar
American shale drillers say there are limits to how much and how quickly they can boost shaky oil supplies following Russia’s invasion of Ukraine, cautioning that supply-chain issues, investors wary o...
Biden’s Russia-Oil Ban Opens Path for Shale Giants EOG, Devon to Fill the Gap
(Bloomberg) — President Joe Biden’s ban on Russian oil imports puts new pressure on U.S. drillers to help fill a supply shortfall that has sent crude prices to the highest levels since 2008. Amo...
$110 Oil Prompts Private Shale Firms To Open The Taps
When rebounding oil demand began pushing benchmarks higher last year, forecasters and traders alike watched the U.S. shale patch with bated breath to see when drillers would start drilling again. Most...
Top shale oil boss warns US can’t replace any Russia shortfall
The head of the US’s biggest shale oil operator said the country would be unable to replace crude supplies from Russia this year, even as he backed calls for a global embargo on its energy exports. Sc...
Biden Called to Unleash Shale to Counter Deepening Energy Crisis
(Bloomberg) — The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale. Mo...
Unleashing U.S. Oil Industry Offers Biden Path To Avoid Energy Crisis
Protesters hold a Ukrainian flag banner during a demonstration against the Russian invasion of … [+] Ukraine in the Times Square neighborhood of New York, U.S., on Thursday, Feb. 24, 2022. Stock...
Pioneer CEO Sheffield Warns U.S. Shale Is Unable to Grow Much More
(Bloomberg) — U.S. shale lacks the capacity to come to the rescue of consumers battling sky-high energy prices with much more crude production, says the boss of the Permian Basin’s biggest oil e...
Shale Giants Swear They Won’t Drill More
(Bloomberg) — The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers...
Shale King Harold Hamm Is Passing Billions to His Heirs Tax-Free
(Bloomberg) — Harold Hamm executed one of the largest wealth transfers in U.S. history last week, handing each of his five children a stake worth about $2.3 billion in Continental Resources Inc....
Shale Billionaire Hamm Hands Most of His Stock to 5 Children
(Bloomberg) — Continental Resources Inc. plunged as much as 44% after founder and majority owner Harold Hamm distributed shares to family members, slashing his stake in the shale driller by more...
U.S. Shale Is Back to Booming
(Bloomberg) — Output in the U.S. shale patch is “re-booming” this year, with research and data analysis firm Lium LLC forecasting production will surge by more than 1 million barrels a day. Most...
U.S. Shale Surge Should Worry Oil Markets, Conoco CEO Says
(Bloomberg) — ConocoPhillips said traders should be worried about strong oil production growth coming out of the U.S. this year and in 2023, potentially echoing the supply surges of the past dec...
U.S. Oil Price Tops $90 For First Time Since 2014
Crude Oil, Fossil Fuel, Price, Growth, Graph getty We’ve had two major boom/bust cycles since then, but 2014 was the last time the price for a barrel of West Texas Intermediate topped the $90 mark. Th...
America’s Winningest Fracker Said To Be Near $2.4 Billion Shale Gas Sale
Trevor Rees-Jones in the “party barn” on his ranch, fall 2015. Matthew Mahon, for Forbes, 2015. If the rumors are true and Dallas billionaire Trevor Rees-Jones is set to sell his Chief Oil...
One of the World’s Dirtiest Oil Patches Is Pumping More Than Ever
TORONTO—Major oil companies, under pressure from investors and environmentalists, are fleeing Canada’s oil sands, the fourth-largest oil reserve in the world and by some measures one of the most envir...
Opinion: What would it take for U.S. oil companies to ramp up production? A lot.
Even with oil prices above $100 a barrel and gas prices averaging over $4 a gallon at the pump, frackers show little interest in ramping up output. Companies including Devon Energy DVN, +1.56%, EOG Re...