Saudi Arabia steps in to, unintentionally, support US shale

Things are looking up in Shalelandia these days. Oil prices, despite the most recent drop, have stayed close to $50 a barrel. Rig-counts and production are rising. Even Saudi Arabia is looking discombobulated. Lest we forget, though, the chief reason things are looking up is because E&P companies fell way down. Back in October, Gadfly surveyed the financial…

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U.S. energy firms descend on West Texas’ Permian Basin as oil recovers

In most U.S. shale oil regions, energy firms are making strategic but cautious bets as the price of oil holds above $50 a barrel. In the Permian Basin of West Texas, the largest U.S. oil patch, the industry poured more than $28 billion into land acquisitions last year – more than triple what they spent…

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US shale producers to contain their enthusiasm as oil hangover eases

Shale oil companies are ready to play chicken with supply and demand again, according to a report by Bloomberg. Roiled by a year that began with crude at a 12-year low and ended with a surprise OPEC agreement boosting prices, U.S. producers including Continental Resources and Pioneer Natural Resources are promising not to overreact —…

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US shale firms go back to work after Trump’s win

American shale producers are redeploying cash, rigs and workers, cautiously confident the energy sector has turned a corner after Donald Trump’s presidential election victory and OPEC‘s recent signal that it plans to curb production. The downturn produced a leaner, more efficient US shale industry that was forced to develop and quickly adapt new technology to compete…

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Eagle Ford shale takes big spending hit during the oil bust: Wood Mackenzie

Across the US, no other oil field has been hit with bigger spending cuts than the Eagle Ford formation, according to a new report by oil industry analysts Wood Mackenzie. Investments in the 26-county Eagle Ford field that is spread across South Texas plummeted by two-thirds to an estimated $10 billion this year from just…

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US shale oil shifting to lower cost curve; more plays viable at $60 bbl: Wood Mac study

A price of $60 or less for a barrel of Brent crude should not hinder the commerciality of most new drilling projects in U.S. tight oil plays, according to the latest study unveiled by Wood Mackenzie, which said its global oil market analysis showed that 70% of such projects and conventional oil projects in the…

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US shale oil well output decline rates slowing

Since the beginning of the U.S. fracking revolution, oil producers have struggled with a frustrating issue: after an initial burst, crude output from new shale wells falls much faster than from conventional wells. However, those well decline rates have been slowing across the U.S over the past few years, according to data analysis provided exclusively…

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