Shale ///
Total investment in Ohio’s resource rich shale energy sector has reached $78 billion since tracking began in 2011, according to a Cleveland State University (CSU) study.
The bolt-on acquisition is in line with Petrofac's stated strategy to position its Engineering & Production Services for growth by diversifying into new markets and geographies.
ConocoPhillips announced a 10-year plan to buy back $30 billion of shares, equivalent to about half of its current market capitalization, as the oil producer attempts to distance itself from the troubled U.S. shale industry.
Dallas Cowboys owner Jerry Jones is among the billionaires circling the distressed U.S. oil and gas patch, looking to pick up assets on the cheap at a time when the state of the industry is scaring off other investors.
Oxy is trading at its lowest in 14 years as investors balked at the amount of borrowing needed to complete the Anadarko deal, and then questioned whether Oxy can produce enough oil to manage the debt burden.
About $83 billion of outstanding debt issued by explorer and producer companies in the U.S. and Canada is yielding at least 10%, the typical threshold for distressed debt.
Chesapeake’s stock has tumbled as much as 43% in recent weeks, following a third quarter earnings report that raised doubts about the company’s ability to continue as a going concern.
Oil and gas producers have a new means of optimizing wellhead production that lowers operating costs while increasing safety, thanks to a newly launched service from Emerson that leverages cloud-based technologies to remotely monitor flow meter performance at the wellhead.
Investments had been picking up in Vaca Muerta, a Maryland-sized shale formation in Patagonia that could turn the troubled nation into a global energy provider. But that was before leftist Alberto Fernandez won the presidential election last month.
Carbo Ceramics Inc. plunged 47% after warning investors it may fail as a going concern in part because its largest frac-sand customer halted purchases.
Halliburton released its PixStar High-Resolution Ultrasonic Imaging Service, a new logging-while-drilling technology that provides real-time images of the borehole to help operators identify fractures, improve wellbore stability and optimize completion design.
Occidental Petroleum plans to sell a four-story office building in the heart of the Permian basin and move employees into a nearby one owned by Anadarko, the oil producer it bought for $37 billion three months ago.
U.S. shale production—the chief source of rapid growth that made the United States the world’s largest oil producer—is slowing down fast, says a new report by IHS Markit.
Gravity's acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland basin.
Chesapeake Energy Corp. collapsed to a 20-year low Wednesday, one day after the shale gas driller warned it may not be able to outlast low fuel prices and issued a “going concern” notice.
Diamondback Energy Inc. said it’s fundamentally changing the way it forecasts future growth after becoming the latest Permian basin shale producer to hit operational hurdles.
The days of relentless production growth from U.S. shale oil fields are ending, potentially aiding OPEC’s years-long effort to drain a worldwide supply glut, according to industry pioneers Scott Sheffield and Mark Papa.
Reflecting growing pain across the energy sector, the Oklahoma-based company’s shares and bonds tumbled Tuesday after it said it may not be viable as a “going concern” if low oil and natural gas prices persist.
“Our members have made great strides in reducing their methane intensity, even as production and throughput increased; these numbers prove that natural gas can be a clean, sustainable fuel, meeting the energy needs of our country and around the globe for years to come," said Richard Hyde, executive director of ONE Future.
OPEC slashed estimates for the amount of oil it will need to pump in coming years, projecting that its share of world markets will shrink until the middle of the next decade amid a flood of U.S. shale supplies.