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Wages for US oil workers set a fresh record in April as a wave of acquisitions in the shale industry has yet to impact the labor force. Average hourly earnings for front-line oil and gas workers rose 0.5% from March to $44.67, according to a Labor Department report released Friday. Compared with a year ago, oil pay …
Oil Paychecks Set a Record Even as Shale Industry Consolidates Read More »
(Reuters) – U.S. oil drillers are sticking to pledges to temper spending on boosting output, keeping the world’s top crude producer on course for slower growth in 2024 in what may ease pressure on OPEC+ to make further supply cuts this weekend. The U.S. has driven growth in global oil supply from non-OPEC producers over …
U.S. Oil Producers Maintain Modest Growth as OPEC+ Eyes Extended Cuts Read More »
Prolific oil and gas developer Double Eagle is exploring a sale of its latest Permian Basin-based producer in a deal that could be worth more than $6.5 billion, including debt, according to people familiar with the matter. The Double Eagle team is expected to launch a sale process for the producer in the second half …
Double Eagle Explores $6.5 Billion Sale of Shale Oil Producer, Sources Say Read More »
Capital for closely held drillers shrinking, Wil VanLoh warns Oilfield services providers have signaled smaller market Energy transition technologies receiving double the investment compared to oil and gas is becoming a major problem for the shale sector and for global supply-demand balances, said Quantum Capital Group Chief Executive Officer Wil VanLoh who manages $25 billion. Public shale …
Lacking Shale Investment a Huge Obstacle, Major Investor Says Read More »
A U.S. regulator’s censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners attended by dozens of shale executives. The U.S. Federal Trade Commission (FTC) on Thursday barred former Pioneer Natural Resources CEO Scott Sheffield from …
U.S. Oil Executive Censure Puts Spotlight on Shale-OPEC Meetings Read More »
HOUSTON, April 22 (Reuters) – As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia. In April, Enterprise Products Partners’ SPOT became the first project to receive a license from the U.S. maritime regulator for …
As Shale Oil Output Slows, One Deepwater Port Struggles for Customers Read More »
Bloomberg US oil prices are more than high enough to make drilling new wells profitable but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Federal Reserve Bank of Dallas. “Until the next administration is decided, we’re in a state of flux when …
U.S. oil output from top shale-producing regions will rise in April to the highest level in four months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Production from the top basins will climb by more than 9,000 barrels per day (bpd) to 9.77 million bpd, the strongest output …
U.S. Oil Output From Top Shale Regions to Rise in April, EIA Says Read More »
U.S. energy giant ExxonMobil Corp is weighing offers for its oil and gas assets in Argentina’s Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward. The comments come after Bloomberg earlier reported that ExxonMobil was …
ExxonMobil Weighs Offers for Argentina Shale Assets – Source Read More »
Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for …
Wall Street Is Warming to Big Shale After $250 Billion of Deals Read More »
