Schlumberger revenue down as recovery in oil patch delayed according to Chairman and CEO Paal Kibsgaard Energy services giant Schlumberger says its revenue continues to drop due to low oil prices and it expects 2016 to be another tough year. The company reported its Q3 earnings late last week and the news was not good. During the
Schlumberger takes hit in Q3, expects a rough 2016 Read More »
Some producers are probably too highly leveraged to survive the borrowing cut, says economist Ed Hirs As the fall banking review of oil and gas company credit fast approaches, a new survey shows that most expect borrowing against reserves to be reduced by an average of 39 per cent. The survey by Haynes and Boone, LLP was conducted prior to the fall
O&G producers’ borrowing against reserves chopped 39% in Oct.? – survey Read More »
Oil and gas industry approval rating goes up as gasoline prices go down Americans’ views of the oil and gas industry continue to improve, with 34 per cent now saying they have a positive view of it. That is up 12 percentage points since 2012, and is one point lower than the 15-year high of 35 per
Gallup: America loving oil and gas industry Read More »
Utica only shale basin expected to increase production Natural gas production in shale regions is expected to drop in September as drilling slows and cannot keep up with the drop off from legacy wells, according to the US Energy Information Administration’s Drilling Productivity Report. Production from these seven shale regions reached a high in May at
Shale natural gas production expected to decline in Sept. Read More »
Shale revolution about to embrace big data, which will lower costs even further A lot of hand-wringing—as well as celebrating—has gone on lately about the reported collapse of the shale revolution. Environmental activists are overjoyed. They see the oil and gas industry getting its comeuppance. U.S. manufacturers, on the other hand, who have been among
Shale Revolution over? Not by a long shot as efficiency improves Read More »
New Mexico gains 3, Louisiana gains 2, Texas, Wyoming, North Dakota, Ohio gain 1 Oilfield services company Baker Hughes Inc.’s latest rig count says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874. Houston-based Baker Hughes said Friday 664 rigs were seeking oil and
Rig count: US down by two to 874 Read More »
IHS study suggests producers, service companies need more familiarity with refracturing Horizontal well refracturing shows a lot of promise for lowering production costs, but there are technical and financial costs to be overcome, according to a new report from analysts IHS. By 2020, refractured wells will account for as much as 11 percent of horizontal
Refracturing wells has potential, but plenty of risk and uncertainty – study Read More »
New study shows water volumes used in fracking varies widely across country, Texas shale formations are highest A new study from the US Geological Survey finds that drillers in the Texas shale formations of Eagle Ford, Barnett and Haynesville-Bossier are among the heaviest water users in the American oil patch. The amount of water required to
Texas shale plays among biggest water users – USGS study Read More »
Medium crude imports to Gulf Coast refineries decreased 45% in Q1 2015 After stopping light crude imports altogether, Gulf Coast refineries are now significantly reducing their imports of medium crude from Middle Eastern producers, according to the US Energy Information Administration. Certain types of crude oil have been affected more than others; for example, the increased economic
Gulf Coast refineries importing no light oil, less Middle Eastern medium crude Read More »
New study says American shale are adjusting to the new low oil price environment The much heralded death of the American shale revolution at the hands of OPEC and the Saudis appears to be premature, according to a new study by consultancy IHS. The report says the compounding effect of high-graded drilling locations and the
American shale revolution lives! High-grade drilling, cost reductions are key Read More »
