Archive for February, 2016

Sanchez Energy loses $1.5 billion in 2015, says ‘balance sheet remains strong’

Sanchez Energy loses $1.5 billion in 2015, says ‘balance sheet remains strong’

Catarina wells are now over 40% more productive than when Sanchez Energy acquired them Texas-based Sanchez Energy Corporation says it lost $1.5 billion in 2015 despite achieving record oil production and cutting capital expenditures by over a third compared to 2014. “2015 was a strong year for Sanchez Energy despite the most challenging commodity environment we have faced […]

By February 29, 2016 0 Comments Read More →
Range Resources reports Q4 losses, 2016 capex reduced by 45%

Range Resources reports Q4 losses, 2016 capex reduced by 45%

Substantially all activity is focused in Marcellus for 2016, Range Resources expects 8-10% increase in production Fort Worth, TX – Range Resources Corporation says it lost money in Q4 and is cutting its capex by 45 per cent for 2016. “Range continued to perform well operationally during the fourth quarter, despite the challenges from declining […]

By February 29, 2016 0 Comments Read More →
American oil producers’ love-hate relationship with new technology

American oil producers’ love-hate relationship with new technology

American oil engineers are a hard sell for new technology, but innovation always seems to find a way into oil patch Will American oil companies be able to innovate their way to lower production costs? Maybe, according to the experts I interviewed, but their engineering corporate culture both helps and hinders the process. Oil and gas […]

By February 28, 2016 2 Comments Read More →
Shale 2.0 – Permian Basin takes aim at Saudi production costs

Shale 2.0 – Permian Basin takes aim at Saudi production costs

Permian Basin already has shale fields that are profitable under $20/b, how much lower can costs go with Big Data/analytics? It’s an oil price war and American shale producers are bringing out the big guns, according to supporters of the Shale 2.0 model. And that is good news for the Permian Basin, the most prolific shale […]

By February 26, 2016 1 Comments Read More →
Baker Hughes US rig count down by 12, Canadian count down 31

Baker Hughes US rig count down by 12, Canadian count down 31

Rig count ending Feb. 26 2016 HOUSTON_On Friday, Baker Hughes reported another week where fewer rigs were exploring for oil and gas in the United States and Canada. According to the oilfield services giant, this is the eighth straight week where the rig count dropped in the US. During the week ending on Feb. 26, 2016, there was […]

By February 26, 2016 0 Comments Read More →
Americans want government, industry to improve energy security, independence – UT poll

Americans want government, industry to improve energy security, independence – UT poll

47% of Americans support fracking, 37% oppose it (down from 43% in Sept.) – energy poll A majority of Americans say government and industry should collaborate to strengthen US energy security and energy independence, according to the latest edition of the UT Energy Poll. The semi-annual survey polled 2,043 Americans on a wide array of […]

By February 26, 2016 0 Comments Read More →
US stocks back to flat as oil prices pare gains

US stocks back to flat as oil prices pare gains

Slight gain in oil prices Friday morning NEW YORK _ U.S. stocks were flat to lower in mid-afternoon trading Friday as encouraging economic news in the U.S. was weighed down by the price of oil, which has turned lower. Stocks were still on pace to be up for the second straight week, however. Utility stocks […]

By February 26, 2016 0 Comments Read More →
Deepwater Horizon spill: Jury finds former BP rig engineer not guilty

Deepwater Horizon spill: Jury finds former BP rig engineer not guilty

Robert Kaluza rig supervisor on Deepwater Horizon NEW ORLEANS _ A former BP rig engineer was found not guilty Thursday on a charge that his negligence in interpreting a critical test contributed to the 2010 Gulf of Mexico oil spill. Robert Kaluza was a rig supervisor aboard the Deepwater Horizon offshore rig when it exploded, […]

By February 26, 2016 0 Comments Read More →
European distillate oversupply has shippers taking long route around Africa

European distillate oversupply has shippers taking long route around Africa

Longer voyage allows more time to find a buyer/onshore storage, provides a return from higher priced, later delivery date. In Europe, the combination of low winter heating demand, high refinery runs, and increased imports have kept distillate fuel oil inventories in the Amsterdam, Rotterdam, and Antwerp (ARA) area far above normal. Higher inventories have lowered […]

By February 26, 2016 0 Comments Read More →
More gas, oil drilling restrictions sought to save sage grouse

More gas, oil drilling restrictions sought to save sage grouse

Environmental groups sue to save sage grouse in US West BILLINGS, Mont. _ On Thursday, Environmental groups sued to force the Obama administration to impose more restrictions on oil and gas drilling, grazing and other activities blamed for the decline of greater sage grouse across the American West. A sweeping sage grouse conservation effort that […]

By February 25, 2016 0 Comments Read More →