U.S. Onshore ///

API reports that access for development allows oil and natural gas industry to be a major revenue generator for Federal and state governments

The American Petroleum Institute released the following statement regarding the Department of the Interior’s presentation of nearly $500 million in revenue awarded to New Mexico from oil and natural gas production on federal lands:

Marathon Oil reports successful Bakken core extension test in Ajax Area

Marathon Oil Corporation has announced encouraging early production results at an important four-well Middle Bakken pad in the company's Ajax area of the Williston Basin in Dunn County, North Dakota.

DNVGL has been awarded bolt fatigue testing program contract by API

The American Petroleum Institute has awarded a contract to DNV GL, the technical advisor to the oil and gas industry, for the full-scale S-N fatigue testing of large diameter bolts.

Oil rises after report shows large crude-stockpile drop

Oil edged higher after a U.S. industry report signaled a bigger-than-expected draw in crude inventories last week.

U.S. shale becomes industry's safe haven as prices languish

Major oil companies are investing more in U.S. shale, not less, after the recent tumble in crude prices.

`This too shall end': Loews CEO Tisch eyes $75 oil in two years

While oil prices remain stubbornly low despite a pledge by OPEC to curb global output, the head of one U.S. conglomerate is eyeing a rebound that’ll bring crude back to $75/bbl.

Hess has announced its 2019 E&P capital and exploratory budget

Hess Corporation has announced a 2019 E&P capital and exploratory budget of $2.9 billion. Of this, approximately 75% will be allocated to high return growth assets in the Bakken and Guyana.

Conoco sees U.S. shale growth at 25% in 2019, even as oil slides

ConocoPhillips, the world’s largest independent oil producer, sees shale production growing 25% next year even as crude prices tumble, proving the industry’s resilience in volatile markets, said CEO Ryan Lance.

Motley outlook amid new highs in gas production, prices

Jim Redden, Contributing Editor

Despite both production and seasonal gas prices at multi-year highs, asset-holders in the Haynesville and Bossier shales are sending mixed messages as to the breadth of the supposedly percolating recovery.

Permian producers become “victims of their own success”

Emily Querubin, World Oil

Despite a few recent snags, Permian basin production should continue its upward trend through 2019.

Companies in the news

Michele Cowart, World Oil

Companies in the news

What industry leaders expect for 2019

Kurt Abraham, World Oil

By all measures, most of 2018 has been an improvement on 2017, which was markedly better than 2016.

Huawei arrest intensives U.S.-China LNG spat

The arrest of a Chinese technology executive means the tariff war that ensnared LNG may not have reached a cease-fire.

World Oil launches 2018 year-end drilling survey while entering 93rd year of forecasting history

Attention operators! World Oil has launched its 2018 year-end drilling survey, and we need your input to make the upcoming World Oil first-of-year Forecast a success.

Drillers lay down U.S. rigs as oil volatility crushes plans

Oil explorers dialed back on drilling at the fastest pace in 2 1/2 years in U.S. fields as volatile crude prices crippled efforts to plan for growth.

Saudi Arabia juggles Iran and U.S. shale to deliver OPEC deal

Saudi Arabia’s energy minister emerged from days of heated OPEC talks joking that he wasn’t an easy man to be friends with.

Primed-to-pump shale will take OPEC cut but no longer needs it

U.S. shale’s response to OPEC’s decision to cut supply and boost prices: We’ll take it, but we don’t need it.

OPEC talks end without oil-cuts deal as Russia holds back

OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding.

Meet the new Permian, it's double the size of the old one

The U.S.’s fastest growing oil field may have even more to give.

Chevron boosts spending to $20 Billion, first increase since 2014

Chevron Corp. will hike spending by 9.3% next year to $20 billion, its first budget increase since 2014 as it expands investments in the Permian Basin and its Tengiz project in Kazakhstan.