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FROM THE OIL PATCH
US shale companies produce more crude using fewer rigs
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will
New drilling technology to put billions of barrels of oil in reach, analysts say
An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into
The “forgotten” oil basin that’s slated for more growth
The onshore shale boom and the revived political battle over fracking have diverted attention from the offshore Gulf of Mexico — consider it a “forgot about Dre” moment. Why it matters: Analysts see more growth in coming years, but the offshore Gulf’s long-term future may depend partly on the election. Driving the news: Chevron yesterday announced
Norway’s Oil Investment Set for Record High in 2024
Higher costs and ongoing field developments are set to boost oil and gas investments to a record high offshore Norway, the top hydrocarbon producer in Western Europe, according to new data from Statistics Norway. Total investments in oil and gas activity in 2024, including pipeline transportation, are estimated at an
Zombie Wells: A $280 Billion Problem the U.S. Can’t Ignore
One hundred and fifty years of oil and gas production in the United States has left millions of decommissioned wells scattered around the country. While they no longer have much, if any, oil and gas to offer, the wells are still highly productive. Unfortunately, what they’re producing is a veritable
US oil, gas M&A activity jumped 57% last year amid industry consolidation
Dealmaking activity in the oil and gas industry increased 57% last year as energy companies boosted development spending, driven by higher cash flows from profits in prior years, according to a report released on Tuesday. Top energy companies spent $49.2 billion on mergers and acquisitions in 2023, up from $31.4
CRUDE OIL WEEKLY UPDATE (Week Ending 08-30-24)
Crude Oil Summary (EIA) U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending August 23, 2024, which was 175
NATURAL GAS WEEKLY UPDATE (Week Ending 08-30-24)
In the News (EIA): Market Highlights: Prices Henry Hub spot price: The Henry Hub spot price fell 23 cents from $2.12 per million British thermal
Zekelman Industries Steel Snapshot for July 2024
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) SMU July HR Coil $650 down $60 from June. USS is insistent the sale to Nippon
Preston Pipe Report – August 2024
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – Pipeline News – The California Air Resources Board has set a target of capturing 13 –
Argus Pipe Logix Line Pipe Report – July 2024
(by Rye Druzin, www.pipe-logix.com) Us line pipe prices dropped by 1.9% to $2,289/short ton (st) in July, with both the domestic and import markets down.
AISI Press Release on Latest U.S. Imports of Steel Products – August 2024
American Iron and Steel Institute, www.steel.org – (08-07-24) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and