(Oil Price) – In a major U-turn in energy policy, Mexico has unveiled a 10-year plan to reverse a years-long decline in oil and gas production by tapping more unconventional resources through fracking. Petroleos Mexicanos, or Pemex, the world’s most indebted energy firm, has seen declines in its output in recent years as old shallow-water conventional fields mature. Now the government
(Publisher’s Note) – Congratulations to Chris Wright on being confirmed as U.S. Secretary of Energy! (Investing) – WASHINGTON -The U.S. Senate on Monday confirmed Chris Wright, a fracking executive, to be President Donald Trump’s energy secretary. The vote was 59-38, with seven Democrats and one Independent (LON:IOG), who caucuses with Democrats, crossing the aisle. Wright, 60, the CEO of Liberty Energy since 2011,
(Oil Price) – Fracking techniques perfected in the U.S. shale patch could help drill for deeper and hotter geothermal energy resources and slash geothermal costs to make this low-carbon energy source competitive to other clean energy solutions, the International Energy Agency (IEA) said on Friday. Recent advances in horizontal drilling and hydraulic fracturing, “honed through oil and gas developments in North America,” are
(World Oil) – SPM™ Oil & Gas announced that their SPM™ WS 335 Frac Pump has achieved more than 13,000 pumping hours in the Permian before its first overhaul. As conventional frac pumps are commonly rebuilt at 3,000 hours and discarded at 6,000 hours, this milestone demonstrates the WS 335’s ability to last four times longer than traditional pressure pumping
(Oil Price) – Halliburton Company (NYSE: HAL) missed analyst estimates for its third-quarter earnings as weaker North American revenues combined with the impact of an August cyberattack and hurricanes in the U.S. Gulf of Mexico dragged profits down. Halliburton, one of the world’s top three oilfield services providers and leader in the U.S. fracking services market, reported on Thursday adjusted net income per
