Here’s a look at how the U.S. shale market has changed a month after the Russia-Ukraine conflict began including private operators ramping up horizontal drilling to near-record levels.
RED President Steve Hendrickson examines oil price volatility in a historical context and whether U.S. shale producers should act as a “shock absorber” for oil supply.
Rising costs, supply chain woes and inflation challenges grow amid drive to boost U.S. shale production, analysts say.
Hess also opted to pay roughly $325 million to remove Brent $105 call options and WTI $100 call options in a bid to profit off a steep rise in oil prices, CEO John Hess said at the Scotia Howard Weil Energy Conference.
Exxon Mobil continues to pursue opportunities to divest, and the oil and gas supermajor’s Bakken assets could be worth $5 billion.
Schlumberger’s reservoir mapping-while-drilling services can be used to give operators clearer visuals into their wells and the challenges that befall them.
Production in Argentina’s huge Vaca Muerta Shale formation led the increase, with unconventional oil output rising 55% and making up 39% of the total, or 222,000 bbl/d.
the Colorado Oil and Gas Conservation Commission voted 4-1 to reject Occidental Petroleum’s proposed plan to drill new oil and gas wells in Firestone, Colorado.
“We’re not going to chase growth like we all did over the last 10 years. We’re going to limit our growth to 5% long-term,” Pioneer Natural Resources CEO Scott Sheffield said during a CERAWeek panel focused on U.S. shale.
The U.S. shale industry is challenged to overcome supply chain woes as the energy crisis and years of weak oil and gas investment call for action to meet today’s rising energy demand.