FROM THE OIL PATCH
Former Shell CEO: Shell at Disadvantage to U.S.-Listed Rivals
Shell’s former CEO, Ben van Beurden, said on Tuesday that European oil and gas companies will find it increasingly difficult to compete with U.S.-listed rivals.
North Dakota’s Bakken Rig Count Drops as Consolidation Sweeps Oil Patch
Operators in North Dakota’s Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year
US shale drillers deterred from oil output boost by slump in natural gas
US crude oil prices last week climbed to their highest this year, but a weak natural gas market, steeper costs and a focus on shareholder returns over new production are keeping shale drillers from big output increases in the world’s top oil and gas producer. The global Brent oil benchmark
An early ‘Christmas gift’ from OPEC could spark a record year for US shale producers, oil expert Tom Kloza says
The analyst who accurately called oil’s bottom in in 2015 sees a boom for U.S. shale producers. Tom Kloza, who runs the Oil Price Information Service, is crediting OPEC for his optimistic 2018 forecast. “OPEC basically gave a Christmas gift to U.S. shale producers,” the company’s global head of energy
U.S. Crude Production To Decline In 2024 As Shale Activity Stalls
Over the past three years, the U.S. energy sector has enjoyed an oil price boom that has been accompanied by soaring crude production. According to data by the U.S. Energy Information Administration (EIA), crude production climbed from 11.0 mb/d in July to 2020 to an all-time high of 13.3 mb/d in December
M&A Fever Hits Canada’s Oil and Gas Industry
The mergers and acquisitions (M&A) wave sweeping through the U.S. oil and gas industry has reached Canada, which could see a megamerger in the coming months. Smaller deals are already taking place as 2023 saw an increase in the value of transactions in Canada’s oil and gas sector. Unlike
CRUDE OIL WEEKLY UPDATE (Week Ending 04-19-24)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 15.9 million barrels per day during the week ending April 12, 2024, which was 131
NATURAL GAS WEEKLY UPDATE (Week Ending 04-19-24)
In the News (EIA): Market Highlights: Prices Henry Hub spot price: The Henry Hub spot price fell 38 cents from $1.88 per million British thermal
Zekelman Industries Steel Snapshot for April 2024
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) SMU April HR Coil $835 up $20 from March. Nucor announces new spot Hot Rolled Coil
Preston Pipe Report – March 2024
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Last month, we reported on the four projects that are directly impacted by the Biden
Argus Pipe Logix Line Pipe Report – March 2024
(by Rye Druzin, www.pipe-logix.com) Us line pipe prices fell by 2.4% in March, marking increased declines compared to the prior month. Domestic prices fell by
AISI Press Release on Latest U.S. Imports of Steel Products – April 2024
American Iron and Steel Institute, www.steel.org – (04-05-24) Finished Import Market Share Estimated at 23 Percent in March – Based on the Commerce Department’s most