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Wednesday, March 12, 2025

March 15, 2016

It’s Official, Hydraulic Fracturing Produces More than Half of U.S. Crude Oil: EIA

March 15, 2016

Crude from tight oil now the primary source of oil from the U.S. Hydraulically fractured wells now account for the majority of the crude oil produced in the U.S., according to the EIA. Based on the most recent data available, crude oil produced from hydraulic fracturing now makes up 51% of total oil production in the country. The information compiled

Obama Administration Pulls the Plug on Atlantic Offshore Lease Sale

March 15, 2016

The White House changes course on allowing offshore drilling in the Atlantic The U.S. Department of the Interior will not be offering leases for offshore drilling in the Atlantic in its next five-year plan, Secretary of the Interior Sally Jewell said in a press conference today. The decision is a reversal from the administration’s decision in January to offer leases

Linn Energy Says Bankruptcy May Be ‘Unavoidable’

March 15, 2016

From The Wall Street Journal: Linn Energy LLC warned Tuesday that a chapter 11 bankruptcy filing may be “unavoidable” for the oil and gas producer. The company said it has hired financial and legal advisers “to address our liquidity and capital structure, including strategic and refinancing alternatives through a private restructuring,” but added that bankruptcy may be its only option. The warning

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