Mexico has fracked just a few test wells, while the U.S. has had nearly 2 million commercial ones. Mexico hasn’t yet produced shale gas, compared to the U.S., which now that the Anadarko play in Oklahoma has been added to the EIA’s Drilling Productivity Report on 7 shale plays is producing 60 Bcf/d of shale gas – over …
America is pumping so much oil that it’s running out of places to keep it all. The U.S. now has nearly 503 million barrels of commercial crude oil stockpiled, the Energy Information Administration said on Wednesday. It’s the highest level of supply for this time of the year in at least 80 years. The …
America is wasting little time getting back into the oil exporting business. Just weeks after Congress lifted a 40-year ban on exporting oil, the first shipments of the black stuff left U.S. ports for Europe. The first freely-traded shipments of U.S. crude are symbolic of the country’s newfound role as a leading producer of oil. …
Source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update Based on EIA’s weekly survey of gasoline prices, the U.S. average retail price for regular gasoline fell to $1.996 per gallon (gal) on January 11, falling below $2.00/gal for the first time since March 23, 2009. The U.S. average retail regular gasoline price had last …
“Shocking” data from Oklahoma may be moving the oil market this week as much as the shouting between Saudi Arabia and Iran, WSJ‘s Nicole Friedman reports. First, data released Thursday showed that while U.S. oil production is falling, overall output is higher than previously reported; new reporting methodology prompted the EIA to revise its production data higher for …
Summary Why OPEC’s current position in the oil industry is misunderstood. The time factor and how it relates to Saudi Arabia and its budget. U.S. shale and companies exposed to it have changed the oil industry forever. It continues to boggle my mind when reading or listening to much of the analysis surrounding the oil …
Summary Since mid-2014, E&P stocks have suffered extreme punishment in the market. Many companies’ prices make them penny stocks, and many more have debt levels which make their equity contribution minimal. The author identifies a group of 33 E&P stocks which the market appears to believe are the “Bottom of the Barrel.” Market capitalizations, debt …
U.S. oil companies will likely pay close to $1 billion this year to put more ethanol and renewables in gasoline and diesel and face even higher compliance costs in 2016 after the U.S. government set targets for alternative fuel use above industry expectations. Higher costs could be passed on to consumers, pushing fuel prices higher …
U.S. crude oil exports jumped nearly 91,000 barrels per day in October, mostly due to a major increase to Canada, foreign trade data from the U.S. Census Bureau showed on Friday. Total U.S. exports were just over 500,000 bpd, according to the data. Exports to Canada were 449,000 bpd, while exports to Italy were 20,000 …
The much-awaited auction of 69 marginal oil and gas fields, which would usher in the revenue-sharing model of contracts, is likely to commence in February. Confirming the contours of the new contract are being finalised, a senior petroleum ministry official told FE, “The exact date of auction would be decided at the highest level of …