WorldOil World Oil editorial: Biden is a menace to sound energy policy and industry’s future For several months now, we have told you our concerns about a potential Joe Biden presidency, as relates to the oil and gas industry’s future. Are the oil industry's opportunities for post-coronavirus recovery dwindling in North America? In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy. Frac pumping volumes lowest since 2017 as shale slowdown continues Fracers are blasting less sand into shale wells for the first time in almost three years as oil explorers adjust to lower oil demand and prices amid the coronavirus pandemic. Southwestern Energy to acquire Montage Resources in all-stock deal Based on the 3-day average closing share prices of the companies as of August 11, 2020 and under the terms of the agreement, Montage Resources shareholders will receive 1.8656 shares of Southwestern for each Montage Resources share. U.S. crude production dropped a record 2 MMbpd in May Production of crude oil decreased in the United States in May 2020 by 1.99 million barrels per day, the largest monthly decrease since at least January 1980, according to the U.S. Energy Information Administration’s (EIA) Monthly Crude Oil and Natural Gas Production Report. Range Resources sells Louisiana shale assets at dime-on-the-dollar valuation Range Resources Corp. is selling its Louisiana shale fields for about one-10th of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller. With oil's supermajors in distress, can smaller independents step up and lead a recovery? A disconnect between drilling activity and supermajors' earnings may reveal a shift in industry leadership, as evidence that the oil and gas industry is reaching a bottom emerges. Halliburton looks beyond U.S. shale, charting a “fundamentally different course” “As oil demand recovers, I expect the international business will continue to be a more meaningful contributor to our revenue going forward,” Chief Executive Officer Jeff Miller told analysts and investors during a conference call. “North America production is likely to remain structurally lower in the foreseeable future and has slower growth going forward.” Frac pioneer BJ Services files Chapter 11 bankruptcy BJ Services Company, one of the pioneers of the fracing techniques behind America’s shale revolution, filed for Chapter 11 bankruptcy protection on Monday morning amid a severe downturn in oilfield services demand. Is Warren Buffett's $10B natural gas spend a bet against decarbonization? In this podcast episode, Buffett sees a longer future for natural gas in the U.S., encouraging signs of a recovery in drilling continue to emerge, and the UK seeks to put an expiration date on internal-combustion vehicles.