Tag: Ed Hirs

Column: OPEC’s continued failure — A note on the price of oil

Column: OPEC’s continued failure — A note on the price of oil

Global glut, increased US production impact price of oil By Ed Hirs No one is fooled by the illusion of OPEC production cuts, but it is worse than most think. The price of oil, which has fallen in nominal terms during 2017, has fallen even more in real terms, since oil trades in dollars and […]

By August 9, 2017 0 Comments Read More →
State of the oil patch: Permian Basin slowly ramping up for takeoff in 2017

State of the oil patch: Permian Basin slowly ramping up for takeoff in 2017

Experts expect to see more E&P, service company bankruptcies before next boom starts Despite oil prices hovering in the mid-$40 range, the Permian Basin industry is shaking off two years of hibernation and readying itself for another upturn. The pace of activity has picked up noticeably of late. Apache announced on Wednesday a huge new […]

By September 7, 2016 0 Comments Read More →
Oil bust bankruptcies: Why are the boards of directors still here?

Oil bust bankruptcies: Why are the boards of directors still here?

“Is there any accountability?…These companies’ strategic plans should have adequately managed that risk.” – Hirs By Ed Hirs The spate of bankruptcies among oil and gas producers has reached epic proportions — more than 69 since January 2015 by one count. And the bankruptcy of Energy Future Holding Corp., a group of electricity companies undone by the low […]

Energy economist explains why banning OPEC protects American consumers

Energy economist explains why banning OPEC protects American consumers

“…we [the USA] are more exposed to high prices than we are to low prices.” – Hirs Last week I wrote about a Texas-based oil producers group that is calling for a ban on crude oil imports in order to support domestic producers and disentangle the USA from its costly military commitments in the Middle East. […]

How American shale producers will drive down costs, drive up efficiency

How American shale producers will drive down costs, drive up efficiency

Continuous improvement of American shale technology, operations also important to lowering costs – Charlotte Batson One of the most interesting debates in the American oil patch is the role innovation and new technology will play in reducing costs for shale producers. Is this how America will compete with Saudi Arabia’s famously low cost structure? There are two basic […]