Shale – Oil & Gas 360

Argentina’s shale boom propels it past Colombia in oil output

December 31, 2025

(Oil Price)– Argentina, in a surprise development, overtook Colombia to become South America’s fourth-largest oil producer. The country is undergoing a once-in-a-generation unconventional hydrocarbon boom, which began with Buenos Aires nationalizing integrated energy major YPF in 2012. Since then, Argentina’s oil and natural gas output has kept soaring higher, regularly hitting new monthly highs as volumes of shale oil and gas

Why Canada’s hottest shale play is catching the eye of US producers

December 18, 2025

(BOE Report)– U.S. oil and gas producers in search of fresh drilling territory are looking to expand in Western Canada’s Montney basin, a remote yet massive shale play that is already a hotbed of M&A activity and could see more deals soon, according to executives, analysts and advisors. Extensive drilling in U.S. shale fields over the past 15 years or

U.S. shale operators defy $60 oil to sustain production growth

November 7, 2025

(World Oil) – U.S. shale companies are forging ahead with their production plans, adapting to $60 oil prices while grinding out small increases and setting up the industry to add to next year’s record supply glut. Diamondback Energy Inc., Coterra Energy Inc. and Ovintiv Inc. this week announced plans to raise output slightly for this year or 2026 despite oil

Shale drilling Ovintiv increases 2024 oil and gas production target on unexpected Permian success

August 1, 2024

World Oil (Bloomberg) – Shale driller Ovintiv Inc. increased its 2024 production target, the second oil and gas company to do so this year. The company expects to pump the equivalent of 570,000 to 580,000 bbl of crude this year, compared with the previous forecast of 545,000 to 575,000, according to a statement. At the mid ranges of those targets,

Argentinian union strike to affect oil production in Vaca Muerta shale

June 17, 2024

World Oil (Bloomberg) – An Argentinian oil union said it will hold a 48-hour strike to demand higher salaries, potentially affecting production at the Vaca Muerta shale patch. The boycott is set to begin at 8 a.m. local time Tuesday, the workers said in a post on X on Saturday. There has been “no concrete progress” on salary negotiations, the

Shale drilling decreases amid U.S. oil industry consolidation, shareholder returns

June 10, 2024

World Oil (Bloomberg) – Drilling in the U.S. shale patch dropped to the lowest level in almost two-and-a-half years as operators vow to make good on promises to investors for subdued production growth this year. The number of U.S. rigs drilling for oil fell by four to 492, the lowest since January 2022, according to data released Friday by Baker

Booming shale production lifts Exxon, Chevron forecasts as oil and gas earning season kicks off

February 5, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. and Chevron Corp. surpassed earnings forecasts as bigger-than-expected oil output from shale fields helped cushion the blow from weakening crude prices. Exxon rose as much as 1.6% in New York and Chevron climbed 2.8%. Exxon’s outsized result also was aided by a $1.14 billion boost from unsettled derivatives and record fuel production at

Argentina energy mogul bets on shale gas amidst looming presidential election

October 16, 2023

World Oil (Bloomberg) – To get to Marcelo Mindlin’s desk in his downtown Buenos Aires office, guests must walk past a big steel ring — a cross-section of natural gas pipeline. The hunk of metal epitomizes the views of Mindlin, and Argentina’s leaders, on the future of energy: Even as electrification gathers speed, fossil fuels will be needed for decades to

Shale drillers must merge with diversified companies to survive long term, Pioneer CEO says

October 13, 2023

World Oil (Bloomberg) – The independent shale drillers that undermined OPEC’s decades-long grip on global oil markets soon will be a thing of the past as they merge with international giants, according to one of the industry’s founding members. Pure-play shale drillers will be acquired by larger companies within the next five years amid intensifying financial pressures and demand for

Shale drilling in Permian basin shrinks at fastest pace in three years

August 28, 2023

World Oil (Bloomberg) – Operators in the Permian basin pulled back on rig use at the fastest pace in three years as the world’s most prolific shale basin shrinks amid consolidation and the slow return in oil demand. Rigs targeting both crude and natural gas in the West Texas and southeast New Mexico region declined by 7 to 320 this

Shale R&D cuts cast shadow on future of US oil production

May 25, 2023

Yahoo Finance Shale technology advances that propelled the U.S. to the top global oil producer spot with world-beating growth rates are falling fewer and farther between as drilling budgets shrink and with them, the research and development that might deliver the next great leap. Inventions, such as directional drilling and hydraulic fracking, spurred U.S. oil production to the world’s highest

Shale patch unemployment plummets as US explorers vie for crews

November 4, 2022

World Oil (Bloomberg) – Unemployment in the US oil industry plummeted to one of the lowest levels on record as shale explorers scramble for workers to keep production flowing. The jobless rate fell to 0.8% in October from 2.5% in the prior month on an unadjusted basis, government figures released Friday show. That compares with an unemployment rate of

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