Sunday, June 1, 2025
EIA reports decline in 2024 U.S. shale natural gas production- oil and gas 360

EIA reports decline in 2024 U.S. shale natural gas production

(World Oil) – U.S. natural gas production from shale and tight formations, which accounts for 79% of dry natural gas production, decreased slightly in the first nine months of 2024 compared with the same period in 2023, according to a report by the U.S. Energy Information Administration (EIA). If this trend holds for the remainder of 2024, it would mark

Is peak investment coming for the shale patch?- oil and gas 360

Is peak investment coming for the shale patch?

(Oil Price) – Peak oil has been a hot topic lately. Usually, it’s about demand and whether it would peak before 2030 or well after that. Sometimes, however, it’s about supply—and investment. Sometimes, it’s about whether U.S. shale has a future. The Wall Street Journal recently posed this question in an article about an oil county in New Mexico, where some are preparing

U.S. shale drillers use ramp up oil production, calling OPEC+ strategy into question- oil and gas 360

U.S. shale drillers use ramp up oil production, calling OPEC+ strategy into question

World Oil (Bloomberg) – Shale drillers from the Permian basin in West Texas to the Bakken shale of North Dakota have ramped up oil production well beyond what analysts foresaw, pushing output to a record just as OPEC and its allies put the brakes on supplies in a bid to arrest price declines. This time last year, U.S. government forecasters

Tokyo Gas to buy Rockcliff Energy for $2.7 billion in U.S. shale push- oil and gas 360

Tokyo Gas to buy Rockcliff Energy for $2.7 billion in U.S. shale push

World Oil (Bloomberg) — Tokyo Gas Co. said its subsidiary Tokyo Gas America Ltd. will purchase Haynesville shale operator Rockcliff Energy II LLC for about $2.7 billion in a move to expand its U.S. shale gas operations.   Tokyo Gas America will acquire all the shares of Rockcliff, a portfolio company of Quantum Energy Partners, through its ownership interest in

U.S. shale production costs are finally falling- oil and gas 360

U.S. shale production costs are finally falling

Oil Price After years of rising production costs amid post-pandemic inflation, the U.S. Shale Patch can finally breathe a sigh of relief after the cost trajectory hit a turning point. Production costs fell 1% year-on-year in the second quarter, marking the first time they have shrunk in three years.   Drill pipe prices have halved this year, daily rig rates are

U.S. shale “ripe” for takeover boom as producers look for new drilling sites- oil and gas 360

U.S. shale “ripe” for takeover boom as producers look for new drilling sites

World News (Bloomberg) – The U.S. energy patch is ripe for a takeover boom, as oil and gas producers turn to dealmaking to find new sites to drill. Companies are seeking to bulk up and consolidate, particularly in the Permian basin of Texas and New Mexico, the largest and most productive oil field in the U.S., industry experts say. Tie

Chemical giant enters U.S. shale with $1.4 billion acquisition- oil and gas 360

Chemical giant enters U.S. shale with $1.4 billion acquisition

Oil Price One of the world’s largest chemical makers, UK-based INEOS, has entered U.S. oil and gas production after agreeing to buy Eagle Ford assets from Chesapeake Energy for $1.4 billion, thus gaining access to cheaper natural gas.   The deal marks INEOS Energy’s entry as an operator into the U.S. onshore oil and gas market, as it acquires 2,300 wells producing

U.S. shale’s debt detox is a huge win for shareholders- oil and gas 360

U.S. shale’s debt detox is a huge win for shareholders

Oil Price North America’s oil and gas producers have reduced their total debts by $26 billion since the end of 2019 as the shale industry made the structural shift from spending to grow production to increasing shareholder returns and strengthening balance sheets. The significant debt reduction at North American oil and gas producers, coupled with capital discipline at most shale

U.S. shale producers to stay on sidelines if OPEC+ slashes output- oil and gas 360

U.S. shale producers to stay on sidelines if OPEC+ slashes output

Nasdaq A big oil production cut by OPEC+ members will not spur new U.S. oil and gas production, energy executives told Reuters, despite the likely rise in prices that could signal higher profits and inflation pressures.   The Organization of the Petroleum Exporting Countries and its allies, called OPEC+, meets on Wednesday to consider output cuts that could exceed 1 million barrels

U.S. shale on track for $200 billion year, could erase its debt by 2024- oil and gas 360

U.S. shale on track for $200 billion year, could erase its debt by 2024

World Oil (Bloomberg) — U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. High oil prices and disciplined capital spending mean American frackers are on course for their most profitable year on record, part

U.S. shale oil forecasts keep rising as smaller producers lead the way- oil and gas 360

U.S. shale oil forecasts keep rising as smaller producers lead the way

Nasdaq March 2 – Publicly traded U.S. shale firms are not budging on production restraint vows as oil markets surge amid Russia’s invasion of Ukraine, leaving smaller producers to lead output gains during the highest prices in seven years. Oil futures on Tuesday traded up as much as 10% to $107 per barrel, the most since July 2014, as Moscow’s