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Shale

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EIA: Second-Biggest US Shale Output Drop Seen For April

March 9, 2016

U.S. shale oil production in April is expected to chalk up the second-largest monthly decline on record, and the sixth straight monthly decrease, a U.S. government forecast released on Monday showed. Total output is expected to fall by 106,000 barrels per day to 4.87 million bpd, according to the U.S. Energy Information Administration’s (EIA) drilling… Continue Reading »

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McClendon’s Actions Aren’t Uncommon Across US Shale Patch

March 8, 2016

The actions that resulted in former Chesapeake Energy Corp. chief Aubrey McClendon’s indictment aren’t uncommon across the shale patch, lawyers and analysts said. McClendon was charged Tuesday with allegedly violating antitrust laws known as the Sherman Act by coordinating a scheme in which two companies didn’t bid against each other for oil and natural gas leases… Continue Reading »

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Fracking Pioneer Aubrey McClendon Accused Of Rigging Shale Bids

March 3, 2016

Aubrey McClendon has been called a pioneer and a natural gas evangelist. Now he might just be the architect of his own destruction. Three years after being forced out of  Chesapeake Energy Corp., the natural gas company he co-founded, the 56-year-old is facing allegations he worked with an unidentified competitor to keep the price of… Continue Reading »

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IEA: Oil Prices Have Bottomed Out, But Growth Will Not Be Sharp

March 2, 2016

Global oil prices appear to have bottomed out and are expected to rise through this year as investment cuts help to reduce a supply glut, a senior analyst at the International Energy Agency said on Tuesday. Benchmark Brent crude futures were up 44 cents at $37.01 a barrel at 1304 GMT, the highest in eight… Continue Reading »

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OPEC Losing Its Grip On Oil Markets

March 1, 2016

From their opposing positions on U.S. shale to whether freezing – or even cutting – oil production around the world is even possible, the Organization of Petroleum Exporting Countries (OPEC) and Saudi Arabia – its most significant member – appear to be reading from different playbooks. Abdalla Salem El-Badri, OPEC’s executive director, stopped short of… Continue Reading »

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SandRidge Energy To Skip Some Interest Payments, Talk With Bondholders

February 25, 2016

SandRidge Energy Inc, a U.S. shale producer struggling to weather a steep fall in oil prices, said on Wednesday that it will not make interest payments on some of its debt and use its 30-day grace period to negotiate with its bondholders. The Oklahoma City-based company, which last month said it hired restructuring experts as… Continue Reading »

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As US Shale Sinks, Pipeline Fight Sends Woes Downstream

February 24, 2016

Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well. In the two court fights, U.S. energy producers are trying to use Chapter 11 bankruptcy protection to shed long-term contracts with the… Continue Reading »

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Shale Fightback Seen Lifting US Oil Output To Record High By 2021

February 24, 2016

Oil production in the United States will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency (IEA) said on Monday. After an initial dip this year and next, U.S. output is… Continue Reading »

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OPEC Doesn’t Know How It Can ‘Live Together’ With Shale Oil

February 24, 2016

OPEC and U.S. shale may need a relationship counselor. After first ignoring it, later worrying about it and ultimately launching a price war against it, OPEC has now concluded it doesn’t know how to coexist with the U.S. shale oil industry. “Shale oil in the United States, I don’t know how we are going to… Continue Reading »

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