OPEC’s power to help lift oil prices by curbing output will be tested by the ability of shale-oil producers and other unconventional suppliers to ramp up production, the World Bank said.
Royal Dutch Shell, through its affiliate Shell Canada Energy, has agreed to sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada to Tourmaline Oil Corp. for a total consideration of approximately $1,037 million.
The era of the monster frac has arrived in North America, and Chesapeake Energy Corp. is singing its praises.
Halliburton and U.S. Silica Holdings moved a record breaking unit train carrying nearly 19,000 tons of U.S. Silica White frac sand from Ottawa, Ill., to Elmendorf, Texas.
When the Organization of Petroleum Exporting Countries started its price war, the U.S. shale boom looked doomed.
After boosting North American sales for the first time during the downturn, Halliburton is determined to raise prices for its services to lock in profits in the world’s largest fracing market.
The world’s largest publicly listed oil company says ample production from U.S. shale regions will keep prices subdued for years to come, disagreeing with others in the industry who have warned about a looming shortage. Rex Tillerson, chief executive officer at Exxon Mobil, presented an upbeat view of how technology will allow companies to pump more, preventing a price “blow out” in the future.
Oasis Petroleum’s double-down on North Dakota’s Bakken shale shows the rapid drop in U.S. drilling costs can make a case for even the ugly ducklings of American shale plays.
Casillas Petroleum Resource Partners, a partnership between Casillas Petroleum Corp. and Kayne Anderson Energy Funds, has closed on the purchase of certain oil and gas assets owned by Continental Resources in the SCOOP play in Oklahoma for an adjusted purchase price of $294 million.
The world should get used to oil prices between $50 and $60/bbl as falling costs in America’s shale fields counteract OPEC’s renewed commitment to supply management.
Don’t expect a major ramp-up of oil production in Oklahoma’s hot new shale plays any time soon, even as companies invest billions of dollars in the region, said Newfield Exploration Co.’s CEO.
Williams Partners LP is facing yet another setback for a $3-billion pipeline project that would carry natural gas out of shale formations in the eastern U.S.
Increased drilling by shale producers buoyed by higher prices will slow the decline in U.S. crude production, a government forecast showed.
The United States is set to double the volume of shale natural gas it’s sending abroad.
To get the maximum performance from new power sections, downhole motors require bearing assemblies that can reliably withstand ever-increasing torque loads.
New products and services
Crude prices of $60/bbl would probably trigger a strong increase in North American oil production while trimming global demand growth, the head of the International Energy Agency said.
Four wells are better than none if you’re trying to assess whether your country could host the next shale boom—but it’s not nearly enough.
Cuadrilla Resources won government permission to hydraulically fracture for natural gas in northern England, ending a two-and-a-half-year battle that veered into debates about the legacy, prosperity and stewardship of Britain’s countryside.
General Electric has a solution for U.S. oil and natural gas explorers struggling to save more money after squeezing drilling costs by more than a third during the past two years.