Goldman cuts oil price forecasts, citing US shale resilience
Goldman Sachs Group Inc. cut its oil price forecasts for 2019, citing a re-emerging surplus of oil and resilient U.S. shale production.
shale
Shell ‘in talks’ to buy Endeavor Energy in cut-price deal
Royal Dutch Shell is in negotiations to buy Endeavor Energy Resources LP for about $8 billion, according to people familiar with the matter, or roughly half as much as the Texas oil producer was expected to fetch when it put itself on the block this year.
Crystal ball needed to predict prices thanks to shale boom, trading ‘God’ says
Andy Hall, the oil trader nicknamed “God” for his lucrative calls on crude, says the U.S. shale boom has made it far harder to predict global supplies.
US shale becomes oil industry’s safe haven as prices languish
Big Oil is investing more in U.S. shale, not less, after the recent tumble in crude prices.
BP’s lower 48 unit changes name after completing BHP deal
UK energy giant BP has wrapped up the £8 billion acquisition of BHP Billiton's US share assets.
OPINION: US shale has a glaring problem
Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies are still struggling to turn a profit.
FID surge keeps offshore ahead of shale, Rystad says
A recent surge in final investment decisions (FIDs) on offshore oil and gas projects has set the scene for a healthy increase in offshore investments next year, Rystad Energy analysts said.
Deal frenzy swells with Diamondback’s $8.4bn shale buyout
Diamondback Energy’s agreement to buy Energen Corp. in an $8.4 billion all-stock deal makes it official: The long-awaited Permian Basin buying spree has arrived, promising to shake up the U.S. shale industry.
A week later, analysts still mulling BP’s shale transaction
Almost a week after revealing plans to buy £8 billion worth of US shale assets, BP has yet to convince analysts that the deal with BHP Billiton represents value for money.
Chevron and Exxon courted by fracking firm Sonatrach
Algeria’s energy industry is open for business.
Icahn expected to speed push for SandRidge sale after board win
Carl Icahn’s takeover of SandRidge Energy Inc.’s board means the shale gas explorer’s days are likely numbered.
UK Government support package won’t boost fracking industry, analysts say
A new UK Government support package for fracking won't give the shale gas industry much momentum, analysts said today.
Cuadrilla applies for injunction to stop trespassers at Lancashire shale site
Shale explorer Cuadrilla has applied for an injunction forbidding trespassing at its Preston New Road site in Lancashire.
UK Government unveils support package for fracking industry
The UK Government today unveiled a new package of support measures for shale gas developments, including the creation of a £1.6million fund.
Permian 3.0 shows biggest US oil field has more to give
Call it Permian, version 3.0.
China’s shale output to almost double by 2020, Woodmac says
Chinese shale gas production will almost double between now and 2020, energy consultancy Wood Mackenzie (Woodmac) has predicted.
Argentina to tender shale train to develop Vaca Muerta drilling
Argentina is readying a tender for a $500 million train line that could help unlock the potential of Vaca Muerta, one of the world’s biggest shale plays, Transport Minister Guillermo Dietrich said in an interview.
OPEC acknowledges scale of shale boom as supply outstrips demand
OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.
New conventional projects can compete with US shale, Woodmac analyst says
New conventional oil projects can compete with US shale on value after three years of cost cuts and efficiency drives, an analyst said today.
U.S. drillers boost oil hedging to guarantee 2018 shale surge
U.S. shale drillers have locked in higher prices for almost half of the oil they plan to pump this year, with oil hedges climbing above the historical average as producers take advantage of $60 a barrel oil.
Corpus Christi set to become major oil export hub as shale drilling surges
As West Texas drillers pump more crude in coming years, they'll have to ship almost all of the increase in the Permian Basin's output to buyers overseas – and most of those exports will pour out of Corpus Christi in South Texas, analysts say.
Oil short-selling rears its ugly head as shale boom fears mount
Short-selling is creeping back into the oil market as fears increase that the U.S. will be awash with oil again.
Shell, Blackstone to bid for BHP’s shale division, report says
Shell and private equity firm Blackstone have agreed to make a joint takeover bid for the US shale division of BHP, the world's biggest miner, a news report said.
Total CEO says he doesn’t need Permian Basin shale to thrive
Total SA’s chief executive officer may be one of the few major oil heads who isn’t salivating over the booming Permian Basin shale oil field.
Oklahoma toughens fracking rules as earthquakes worsen
Oklahoma is tightening its rules for fracking after studying a new cluster of earthquakes in one of the hottest U.S. regions for drilling.