- Joe Barone, Shale Directories
- Blog
- April 2, 2020
BP slashes capex, cuts US onshore activities
British oil major BP said Wednesday it will slash organic capex by 25% to protect its financial health, in response to the Covid-19 pandemic and ongoing market disruption, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 30, 2020
BP, green investors to draft joint climate resolution
British oil major BP said Friday it will work on its climate change resolution together with green shareholders group Follow This, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 30, 2020
UK’s Hurricane confirms Covid-19 case in oil platform
UK’s independent E&P Hurricane Energy said Friday a crew member has been evacuated from its offshore platform in the west of Shetlands area and tested positive for Covid-19.- Joe Barone, Shale Directories
- Blog
- March 27, 2020
Petrobras cuts production by 3%, slash investments
Brazilian state-run oil company Petrobras said on Thursday it reducing production by 100,000 barrels per day by month-end in a response to the oil price shock and the impacts of Covid-19.- Joe Barone, Shale Directories
- Blog
- March 26, 2020
Sinopec Oilfield Service lifts 2020 capex by 18%
China’s Sinopec Oilfield Service Corporation (SSC) said on Tuesday it will increase its capex this year by 18.4% year-on-year, despite the current market outlook, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
COVID-19 Virus Being Fought with Methane Control Technology!
Jim Willis Editor & Publisher, Marcellus Drilling News (MDN) COVID-19 virus vaccine development, believe it or not, is being aided by methane control technology developed by an ever innovating oil and gas industry.- Joe Barone, Shale Directories
- Blog
- March 24, 2020
North Sea can survive the price rout: WoodMac
The North Sea can survive the ongoing storm in the oil and gas industry in the short-term, principal analyst at Wood Mackenzie Neivan Boroujerdi said on Monday.- Joe Barone, Shale Directories
- Blog
- March 23, 2020
Fitch cuts 2020 Brent price forecast by $21.50/Bbl 📉
Fitch Ratings revised down its short- and medium-term forecasts for crude oil prices, as the market is expected to be “massively oversupplied” in 2020, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
Pennsylvania Governor: Oil & Natural Gas Industry Is a ‘Life-Sustaining Business’
The world is changing daily as we respond to the threat of COVID-19. The need to “flatten the curve” has meant tough decisions about letting certain businesses stay open while requesting or even requiring that others close down.- Joe Barone, Shale Directories
- Blog
- March 20, 2020
Eni plans ‘strong’ cut to capex, cancels share buyback
Italian oil major Eni said on Wednesday it has cancelled its share buyback program, lowered its forecast for Brent crude and is revising its spending plans, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 17, 2020
Crude oil prices plummet on growing surplus
Crude oil prices plummeted on Monday as the coronavirus’ fast spread around the world is killing global oil demand, and supply continues surging, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 17, 2020
Aramco ‘very comfortable’ with oil at $30 a barrel: officials
Saudi Aramco is “very comfortable” with crude oil prices of $30 a barrel and will remain so “for a long time,” officials said on Monday during the company’s first earnings call with investors and analysts.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
Green New Deal Fanatics Have No Concept of What They Propose
Paul Driessen Committee For A Constructive Tomorrow …. …. Green New Deal fanatics are proposing something that is literally impossible and even if it were achievable would destructive of life as we know it.- Joe Barone, Shale Directories
- Blog
- March 16, 2020
Canada’s Husky Energy trims capex, delays projects
Alberta-based Husky Energy has announced plans to trim $1 billion from its budget in 2020 in response to what it called “challenging” global market conditions with the lowest oil prices in three years.- Joe Barone, Shale Directories
- Blog
- March 13, 2020
Matador Resources to reduce drilling program
Texas-based Matador Resources Co. will reduce its drilling program from six rigs to three rigs before June 30. It is active in the Delaware Basin of West Texas and New Mexico, the Eagle Ford in South Texas and the Haynesville Shale in Louisiana.- Joe Barone, Shale Directories
- Blog
- March 13, 2020
Canadian companies cut capex
MEG Energy Corp. is cutting $50 million from its 2020 capital spending. The total will drop from $250 million to $200 million and it has also reduced its production guidance slightly from 95,500 barrels per day to 94,000 barrels per day.- Joe Barone, Shale Directories
- Blog
- March 12, 2020
Saudi Arabia, UAE to flood oil markets in April
As the coronavirus outbreak is declared a pandemic by the World Health Organization, Saudi Arabia and the UAE announced they are increasing crude supply to the market in April by around 3 million barrels per day (Mmbpd), Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Price War on Oil Proves the Power of America’s Shale Revolution
Johnny Williams Bradford County Writer The oil price war now taking place is unimaginably good news for American’s and is all attributable to our shale revolution and the power of our innovation.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Oil price rout to trigger major industry shake-up: WoodMac
The oil price rout may trigger a major industry shake-up, and U.S. independent companies may be forced to act sooner than later, Kallanish Energy learns from Wood Mackenzie experts on Monday.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Oil prices collapse 30%, may dip into $20s
Saudi Arabia added fuel to an already burning oil market by slashing its crude oil prices to Europe, Asia and the U.S.- Joe Barone, Shale Directories
- Blog
- March 10, 2020
Parsley Energy, Diamondback Energy cut Permian drilling
Permian players Diamondback Energy and Parsley Energy announced Monday they are cutting down development activities as an immediate reaction to the crash in oil prices.- Joe Barone, Shale Directories
- Blog
- March 6, 2020
Opec proposes 1.5 Mmbpd cut until end of 2020
Opec agreed on Thursday to recommend an additional 1.5 million barrels per day (Mmbpd) of oil production cuts until the end of 2020, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 4, 2020
Chevron to invest $80B in dividends, share buybacks
Chevron Corp. plans to spend around $75-80 billion on dividends and shareholder buybacks in the next five years, funded largely by growing production in the Permian Basin of West Texas and New Mexico, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
CELDF Ballot Measure Overturned Once Again Because “Unconstitutionally Vague”
It’s a never-ending cycle with the Community Environmental Legal Defense Fund’s unwillingness to accept defeat over the constitutionality of its far-reaching “Rights of Nature” initiatives.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
Oil prices rebound on hopes Opec, central banks will act
Crude oil prices rebounded on Monday after the massive sell-off in commodities and equities last week, on hopes central banks will support their economies and the Opec+ alliance will not disappoint, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
Mercantile & Maritime to end shipping of Rosneft’s Venezuelan oil
Singapore-based Mercantile & Maritime group, a global business operating across the oil and gas value chain, confirmed Monday it will terminate its shipments of Venezuelan oil for Rosneft, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- March 3, 2020
BofA cuts crude price forecast by $8 a barrel
Strategists at the Bank of America’s Global Commodity Research have changed their 2020 forecast for crude oil prices by $8 a barrel, due to the impact of the coronavirus outbreak on the global economy.- Joe Barone, Shale Directories
- Blog
- March 2, 2020
Mexico’s Pemex posts huge 2019 loss
Petroleos Mexicanos posted a $18.3 billion net loss for 2019 — nearly double the previous year’s loss and a major setback to Mexican President Andres Manuel Lopez Obrador’s efforts to revive the debt-saddled state oil company, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 29, 2020
CLCPA Goals Set by Climate Change Zealots Will Only Force Its Repeal
Roger Caiazza Independent Researcher and Publisher,Pragmatic Environmentalist of New York … The New York Climate Leadership and Community Protection Act or “CLCPA” is purely aspirational with no hope of being practicable.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Crude falls for 5th day on demand concerns
Crude oil prices fell for a fifth straight trading day Thursday, to their lowest point in 13 months, as a growing number of new coronavirus cases outside China fueled fears of a pandemic, which could slow the global economy and lower crude demand.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Upstream’s biggest coronavirus fear is prices
Wood Mackenzie said Thursday the biggest commercial fear for the upstream oil and gas sector from the coronavirus epidemic is its impact on commodity prices, not project delays, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 28, 2020
Eni ups Agogo field’s resources by 40%
Italian oil major Eni Thursday announced a 40% increase of estimated oil-in-place volumes at the Agogo oilfield, offshore Angola, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
US crude inventories climb in latest EIA survey
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 21, increased by 452,000 barrels from the previous week, the Energy Information Administration reported Wednesday.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
Crude slides, tumbling deeper into bear market territory
Crude oil prices on average dropped more 2.5% Wednesday after hundreds of new coronavirus cases reported in Asia, Europe and the Middle East fired concerns energy demand would decline, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 27, 2020
Coronavirus outside China obstructs oil market recovery
The further spread of the coronavirus outside China has gotten in the way of the oil market recovery, and is forcing markets to re-assess the severity of the headwinds ahead, IHS Markit said this week.- Joe Barone, Shale Directories
- Blog
- February 26, 2020
Sufficient produced water to handle oil-drilling needs: study
One of the few statements both sides of the subject of drilling for oil and gas utilizing hydraulic fracturing can agree on: Getting either/both fossil fuels out of the ground takes an immense volume of water.- Joe Barone, Shale Directories
- Blog
- February 26, 2020
Brent under $55, WTI under $50 after latest drops
Brent crude oil fell below $55 a barrel Tuesday, dropping for a third day, as fear of the spread of the coronavirus and its impact on oil demand outweighed Opec+ output cuts and Libyan supply losses, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 26, 2020
Coronavirus will meaningfully impact oil demand growth
Global oil production (crude oil and liquids) will increase by 0.7 million barrels per day (Mmbpd), to roughly 102.3 Mmbpd from fourth-quarter 2019 to fourth-quarter 2020, economists at the Federal Reserve Bank of Dallas, Texas, report.- Joe Barone, Shale Directories
- Blog
- February 26, 2020
Libya’s oil production continues to plunge
Blockades at Libyan ports and pipelines have taken away 1.09 million barrels per day (Mmbpd) of crude production from the North African country, resulting in revenue losses of $2.10- Joe Barone, Shale Directories
- Blog
- February 25, 2020
Fact Sheet: Endangered Species Act in Texas
There is a long history of activists in Texas of abusing the Endangered Species Act (ESA), using it as their primary tool in frivolous lawsuits, often times with little benefit for species – often to the detriment of the animals and plants they claim to be aiding.- Joe Barone, Shale Directories
- Blog
- February 25, 2020
Oil slides, posts worst day in more than a month
Crude oil on average slid more than 3.5% Monday, falling into bear market territory as the number of coronavirus cases outside of China jumped, Kallanish Energy reports.- Joe Barone, Shale Directories
- Blog
- February 25, 2020
Bankruptcy judge approves PES refinery’s sale
A U.S. Bankruptcy Court judge has approved the $252 million sale of the Philadelphia Energy Solutions (PES’) refining complex in South Philadelphia, Pennsylvania, to a Chicago, Illinois-based developer.- Joe Barone, Shale Directories
- Blog
- February 24, 2020
Phillips 66 Partners acquires 50% interest in Liberty line
Midstreamer Phillips 66 Partners LP (PSXP) said Friday it’s acquiring from its sponsor, Phillips 66, its 50% interest in the $1.6- Joe Barone, Shale Directories
- Blog
- February 24, 2020
Brazil’s oil, natural gas output sets records in January
Brazil’s oil and natural gas production hit record highs in January, the Brazilian government said last week, Kallanish Energy learns. Last month’s oil production reached 3.17- Joe Barone, Shale Directories
- Blog
- February 21, 2020
North Dakota regulators approve DAPL expansion
The North Dakota Public Service Commission this week voted 3-0 to approve the proposed expansion of the Dakota Access Pipeline (DAPL), which involves building a pump station in Emmons County to help push up to twice as much crude oil through the line daily.- Joe Barone, Shale Directories
- Blog
- February 21, 2020
Crude gains on smaller-than-expected inventory build
Crude oil prices rose Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude inventories, Kallanish Energy reports. Gains, however, were held down by continuing worries about the spread of the Coronavirus outside China.- Joe Barone, Shale Directories
- Blog
- February 20, 2020
PDVSA shakeup designed to stop crude output plunge
Venezuela President Nicolas Maduro is expected to install new leadership at state oil company Petroleos de Venezuela SA, aka, PDVSA, as he hopes to end the crumbling of the nation’s oil industry, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 20, 2020
Oil jumps on slowing virus cases, US move on Rosneft unit
Crude oil prices jumped 2.4% Wednesday as traders’ worries eased about demand declining due to the spread of the coronavirus in China, while supplies tightened as the U.S.- Joe Barone, Shale Directories
- Blog
- February 19, 2020
US crude production barely moves in latest DPR
Crude oil production from the Lower 48 U.S. states’ seven most productive basins/plays will barely move from February to March, the Energy Information Administration’s February Drilling Productivity Report (DPR) projects.- Joe Barone, Shale Directories
- Blog
- February 19, 2020
Crude scarcely moves in Tuesday trading
Crude oil prices were little changed Tuesday, held down by concerns over the impact on crude demand from the coronavirus outbreak in China, and the lack of movement by Opec+ to further lower production.- Joe Barone, Shale Directories
- Blog
- February 18, 2020
Study: Those Who Live Near Oil & Natural Gas Production Most Likely to Support It
Coloradans living near oil and natural gas development are most likely to support this activity, while the industry’s biggest opponents tend to live in areas with little to no production, according to a new study. Key findings: (1) Strong opposition to #fracking is mostly found in places where there is little to no drilling activity.Bernie Sanders Comes To Colorado To Tell State’s Oil And Gas Workers That He Wants To Eliminate Their Jobs
Democratic presidential candidate Bernie Sanders made a campaign stop in Denver this week with a clear message: if elected, his administration will work to ensure that Colorado’s oil and natural gas workers will be out of a job.- Joe Barone, Shale Directories
- Blog
- February 14, 2020
Draft Federal Data: Oil and Natural Gas Methane Emissions Continue to Fall
U.S. methane emissions continue to decline despite significant increases in oil and natural gas development, according to the latest Environmental Protection Agency data.Agency Report: Fracking Is Not Harming Streams in Pennsylvania
Pennsylvania’s shale industry is not having a negative impact on streams in the state, according to a new study by the U.S.- Joe Barone, Shale Directories
- Blog
- February 14, 2020
ND oil production may peak within 5 years: officials
North Dakota’s oil production may peak within five years, as companies finish drilling the most prolific parts of the state, state and industry officials told lawmakers this week, Kallanish Energy finds.- Joe Barone, Shale Directories
- Blog
- February 12, 2020
Coronavirus slashes 25% of global oil demand growth: Rystad
Global crude oil demand growth is expected to plunge by 25%, to 820,000 barrels per day (Bpd), this year due to the coronavirus outbreak, Rystad Energy said Tuesday.- Joe Barone, Shale Directories
- Blog
- February 11, 2020
IPAA Testifies Before Council on Environmental Quality on NEPA Modernization
EID’s Will Allison testified today on behalf of the Independent Petroleum Association of America before the Council on Environmental Quality. The Denver hearing is the first of two such events for CEQ to hear commentary on its proposal to update the National Environmental Policy Act.- Joe Barone, Shale Directories
- Blog
- February 6, 2020
Venezuela exported 14% less oil in January, stocks still fell
Venezuela’s oil exports declined almost 14% in January from December, but crude oil inventories fell, helping state-run company PDVSA deal with a storage glut accumulated due to U.S.- Joe Barone, Shale Directories
- Blog
- February 5, 2020