Forecast ///
The number of active, producing U.S. gas wells slipped 1.6% last year, from 501,535 to 493,421, although, according to the EIA, the country’s gross gas withdrawals hit an 11-year high at 95.8 Bcfd last November.
Shale operators are increasing U.S. crude production in response to oil prices that are, so far, trending more favorably this year, due largely to decisions by OPEC and Russia to curb production.
With oil prices on the rise in 2017, operators added drilling rigs back to many areas of the U.S.
Dr. Roger Bezdek, Contributing Editor
The last 12 months in Washington, D.C., have been incredibly positive for the U.S. oil and gas industry.
Jim Redden, Contributing Editor
Record laterals help feed new pipelines, plants
Kurt Abraham, World Oil
Keeping the caution in our optimism
Alex Endress, World Oil
Operators are still testing the limits of unconventional technology in the Permian basin, but increased drilling activity likely means steady production gains for next year and beyond.
Robert Curran, Contributing Editor
Amid increasing political uncertainty and a stagnant unemployment rate, Canadian operators are still fighting to regain E&P stability and drive pipeline projects forward.
William J. Pike, World Oil
Producers have recently reacted to stagnant oil prices with announcements of cuts in capital spending.
Jeff Moore, Contributing Editor
Energy companies around the world are adjusting their E&P strategies to take advantage of oil rebounding from the price slump of 2015–2016. For some, this means getting into natural gas to rebalance global portfolios that have been heavy with liquids.
Jacques Sapir, Contributing Editor
Is the Russian ruble more weakly linked to oil than before?
Don Francis, Contributing Editor
Go with the flow
Staff, World Oil
Clinging to the notion that they are protecting market share, several OPEC members continue to overproduce deliberately, as do Russian operators, ensuring that the global market remains saturated.
Emily Querubin, World Oil
According to the U.S. Energy Information Administration (EIA), U.S. crude oil and lease condensate proved reserves increased for the sixth consecutive year in 2014.
Roger Jordan, World Oil
The number of producing gas wells in the U.S. held steady last year, despite gas prices remaining stubbornly low.
Roger Jordan, World Oil
The total number of active, producing oil wells in the U.S. dropped slightly during 2015, a trend that looks set to sharpen this year, as the oil price decline begins to exact its toll on the industry.
Kurt Abraham, World Oil
Who knew? After the rapid decline in crude oil prices from mid-2014, most analysts expected 2015 to be a year of recovery, when prices would creep back toward $70/bbl.
Craig Fleming, World Oil
The catastrophic oil price decline wreaked havoc on the U.S. rotary rig count during 2015, with the industry bracing for a continued slowdown this year.
James West, Samantha Hoh, Alexander Nuta, Cameron Schnier, Evercore ISI
Looking at the spending plans of roughly 300 E&P companies worldwide, and factoring in recent oil price declines, North American spending may fall 40-50% in 2016. Capital expenditures, internationally, are set to post a second, consecutive 15% decline.
John England, Deloitte LLP
Looking back at 2015: What happened, what didn’t, and hope for the future