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Bloomberg US oil prices are more than high enough to make drilling new wells profitable but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Federal Reserve Bank of Dallas. “Until the next administration is decided, we’re in a state of flux when …
U.S. oil output from top shale-producing regions will rise in April to the highest level in four months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Production from the top basins will climb by more than 9,000 barrels per day (bpd) to 9.77 million bpd, the strongest output …
U.S. Oil Output From Top Shale Regions to Rise in April, EIA Says Read More »
U.S. energy giant ExxonMobil Corp is weighing offers for its oil and gas assets in Argentina’s Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward. The comments come after Bloomberg earlier reported that ExxonMobil was …
ExxonMobil Weighs Offers for Argentina Shale Assets – Source Read More »
Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for …
Wall Street Is Warming to Big Shale After $250 Billion of Deals Read More »
U.S. producers blew through forecasts last year, adding the equivalent of another Venezuela to global supplies. As reliably as warm weather returns to West Texas in late February, US shale executives are out on the road this earnings season pledging they’ll keep production growth modest during the next 12 months. The past 12 months offer reason for …
(Reuters) – Shale producer Diamondback Energy said on Monday it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 billion, including debt. The combined company would be the third largest oil and gas producer in the region behind Exxon and …
Diamondback to Buy Endeavor Energy in $26 Billion Mega Shale Deal Read More »
U.S. oil output from top shale-producing regions is due to decline in February for the fifth consecutive month, the U.S. Energy Information Administration (EIA) said in a monthly report on Tuesday. Oil output is set to fall to 9.68 million barrels per day (bpd) next month, driven by declines in the Eagle Ford and Bakken …
U.S. Oil Output Due to Drop in February for Fifth Straight Month, EIA Says Read More »
APA Corp.’s $2.6 billion purchase of Callon Petroleum Co. extends the industry’s strategy of lining up drilling sites without piling on debt. Permian Basin oil and natural gas output may grow in 2024, though at a slower pace than last year. The new year in the shale patch kicked off much as the old one ended, with a hefty all-stock takeover. …
Shale’s Shift to All-Stock Deals Gives It Muscle Against OPEC Maneuvers Read More »
Survey finds closely held group planning less than 5% increase Explorers say they need crude to be above $70 to make a profit By David Wethe – Bloomberg Most of shale’s private explorers in the Permian are planning modest growth this year as one of the main engines of US oil expansion downshifts amid volatile commodity …
Permian’s Private Shale Explorers Expect Modest Growth Read More »
