News:

Permian Boom a Thorn in OPEC’s Side

Texas is once again making life difficult for OPEC. The Permian Basin of Texas and New Mexico has emerged as the new poster boy of the U.S. shale oil revolution. Land prices in the Permian…

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Oil Majors Plan to Spend Big on U.S. Shale

Big Oil is muscling in on shale country. Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp., are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up…

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Pennsylvania Shale Gas Production Tops 5 TCF in 2016

Pennsylvania posted a 10 percent increase in natural gas production from shale gas plays in 2016 in a year that was marked by a slow recovery in pricing and well drilling. There were 5.05 trillion…

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Texas Drilling Permits Rising as Industry Recovers

The state of Texas approved almost 1,000 oil and gas drilling permits in February, as the industry responds to higher oil prices and slowly moves toward a recovery. The Railroad Commission of Texas, the state’s oil…

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U.S. Rig Count Up 21, 9th Straight Weekly Increase

The number of oil and gas rigs in U.S. fields rose for the ninth straight week as oil companies continue to show optimism in the industry. This week’s U.S. count jumped by 21, a boom…

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Saudis Say OPEC Output Cuts May Need to Be Extended

OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia’s Energy Minister said. The curbs will be sustained if stockpiles are “still above…

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