US shale producers – Oil & Gas 360

U.S. shale drillers to reduce Permian drilling emissions, increase reliability with nuclear reactors

April 1, 2024

World Oil (Bloomberg) – U.S. oil and gas companies including Diamondback Energy Inc. are considering small nuclear reactors to power drilling operations in Texas’s Permian basin, a move aimed at cutting carbon emissions and ensuring reliable access to electricity. Diamondback, the largest independent producer headquartered in the shale-oil region, has signed a nonbinding letter of intent with Oklo Inc. to

U.S. shale producers remain cautious despite oil rally

October 3, 2023

Oil Price Earlier this month, the Dallas Fed reported that the local oil industry was getting more upbeat about the future, expecting higher prices and expanding production. In fact, the Dallas Fed reported that production growth had sped up in the third quarter. The Energy Information Administration, however, had a different message: it forecast a continued decline across the shale patch, led by

U.S. shale producers reveal extent of hit from Texas freeze

February 23, 2021

Reuters Occidental Petroleum Corp, Diamondback Energy Inc and a host of smaller Permian-focused U.S. shale producers on Monday forecast lower oil output in the first quarter, giving the first indications of the hit to the industry caused by last week’s winter storm. Areas of Texas not used to the cold were hit by sub-zero temperatures and record snow falls last

OPEC faces ‘worst of both worlds’ with oil prices in limbo ahead of committee meeting

July 15, 2020

CNBC OPEC is facing “the worst of both worlds” with the current oil market demand outlook, S&P Global Platts’ head of EMEA news said Wednesday ahead of the group’s Joint Ministerial Monitoring Committee (JMMC), where it will announce recommendations for production policy along with its non-OPEC allies. “This demand issue is really key here,” Andy Critchlow, a long time oil

Oil and gas companies set to lose $1 trillion in revenues this year

April 30, 2020

CNBC Oil and gas exploration and production companies, or E&Ps, are slated to lose a staggering $1 trillion in revenues in 2020, according to analysis by research firm Rystad Energy. The E&P industry, which includes oil majors, made $2.47 trillion in revenues globally last year, the firm says. But this year it’s projected to bring in $1.47 trillion, reflecting a

Bankruptcy looms over U.S. energy industry, from oil fields to pipelines

April 23, 2020

Reuters NEW YORK – U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as they struggle under heavy debt loads and a dual supply/demand shock in the worst crisis the oil industry has faced. Fuel demand has tumbled roughly 30% worldwide due to the coronavirus pandemic, and just as the health crisis worsened a

Whiting Petroleum is just the ‘first domino’ to fall in US shale wipeout, strategist says

April 2, 2020

CNBC Wednesday’s Chapter 11 bankruptcy filing for Colorado-based Whiting Petroleum is a grim omen of things to come, experts say, as oil prices face historic collapse amid the coronavirus crisis and the Saudi-Russia oil price war. The company is the first U.S. shale producer to go under since the start of the year, when oil prices began to fall. “I don’t want

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