Most US shale companies to restore production by end of 3rd quarter
By the end of the third quarter, most U.S. oil producers plan to restore nearly all of the production shut down during the oil crash, according to a new report.
US shale
Chesapeake’s collapse is latest in long line of shale disasters
The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest in a long list of casualties.
Impairments sink Apache to a £3.6billion loss
US energy firm Apache took a £3.6billion pre-tax loss in the first quarter of the year as the oil price crash hit the value of its assets.
Chevron to acquire Anadarko in £38.2bn deal
Chevron has announced plans to buy fellow US oil and gas operator Anadarko Petroleum in a deal worth £38.2bn, the largest upstream takeover since 2015.
BP closing the tight oil gap with BHP swoop, analyst says
BP’s £8 billion acquisition of US shale assets from BHP Billiton will help the oil major close the gap to its peers, an analyst has said.
Halliburton hiring 100 per month to meet Texas fracking demand
Halliburton has hired about 100 new workers each month this year to keep up with surging demand for fracking in West Texas, a sharp turnaround after the job-killing oil bust.
Shale’s super rigs getting bigger paychecks in the oil patch
US oil companies are spending more money on so-called super-spec rigs, machines that churn out wells much faster than older models that led the first shale boom.
Oil could hit $60 if OPEC cuts are extended, analyst claims
Oil could hit $60 a barrel by the year end if the OPEC pact to curb oil output is extended, a leading market analyst has claimed
Bad news for Opec as US shale drillers gear up for $84bn spree
US shale explorers are boosting drilling budgets 10 times faster than the rest of the world to harvest fields that register fat profits even with the recent drop in oil prices.
Asian investment on US shale deals has dried up since downturn
US shale was the hot ticket for Asian investors before the downturn but deals have dried up since 2014, according to analysts Wood Mackenzie.
Shale drillers hold off retiring rigs as cash flows improve
Oil explorers in the U.S. put a pause on their rig cancellations this week as improving technology and rising prices make some basins more profitable.
New maps of Utica shale play available
The US Energy Information Administration has produced new maps that show the structure, thickness, and geologic setting of the Utica Shale play and the location of production wells.
Statoil’s US boss will focus on bottom line not production
Statoil's new US boss will focus on "bottom line" targets rather than production figures as he aims to steer the Norwegian energy giant through the US shale gas maelstrom.
SandRidge contemplates bankruptcy as US shale is battered
SandRidge Energy has hired advisers to evaluate options including a bankruptcy filing, in what could be the most high-profile reorganisation yet in US shale oil industry.
Shale drillers finally buckling as OPEC keeps pumping
US oil drillers are finally beginning to buckle.
Statoil sees oil slump as opportunity to cut costs
Norwegian oil producer Statoil sees the crude price downturn as a chance to slash costs and become more efficient, with a senior executive calling it a "great opportunity" to improve operations.
Fracking pioneer agrees to guide energy policy for Rubio
The co-founder and former chief executive officer of Devon Energy has signed on to shape energy policy for Florida Senator Marco Rubio, who is running for the Republican presidential nomination.
Wood Mac says loss making oilfields unlikely to be shut willingly
Even as millions of barrels of oil are pumped at a loss at current prices, only a fraction of the production has been shut, industry research group Wood Mackenzie said.
OPEC sees deeper decline in rivals’ supply as US shale falters
OPEC forecast a steeper decline in supplies from rival producers this year as the oil-price crash hits the U.S. and Canada.
Swift files for Chapter 11 to become latest US shale victim
The collapse in the oil price claimed its latest shale drilling victim when Swift Energy filed for Chapter 11 bankruptcy in the United States.
US and Iraq will fail to boost crude output in 2016
To understand what the oil price crash will mean for global crude supplies next year, look no further than the two nations that added more barrels to world markets in 2015 than anyone else.
Welcome to the oil market’s new vicious cycle
US shale firms are snapping up $50 oil hedges, risking a rally reversal.
Rose cuts costs to protect its assets
Rose Petroleum said the "radical and far-reaching" cost cutting it took to adapt to low oil prices has left it in a strong position maximise its oil and gas assets in the future.
US shale oil production at risk as debt shackles drillers
As much as 400,000 barrels a day of oil production is at risk as US shale companies like Samson Resources run out of money and are forced to slow drilling.
Why oil producing countries keep on pumping
The big oil producing countries keep on pumping, even though prices are at a six-year low.