#rigzone

Can US Shale Producers Innovate Themselves Out of Trouble?

The shale industry was in trouble even when oil was priced at $30 a barrel. Hundreds of small producers across Texas and the Midwest were laden with debt, sweet spots already taken and forcing well operators to tap higher-cost locations. WTI crude at under $20 a barrel, is less than half the $40-plus-a-barrel breakeven needed by the shale industry. The slump in crude prices and a supply glut…

OPEC Aims to Prop Up Oil Prices

At December’s meeting in Vienna, OPECplus agreed production cuts of 500,000 barrels a day for the first quarter of 2020. This is over and above the production cut of 1.2 million b/d (m b/d) announced a year ago. Furthermore, Saudi Arabia continues to shoulder most of the extra voluntary cuts in output, in an attempt to balance the market and support crude prices. However, in reality both Nigeria…

OPEC+ACs Gives Final Sign Off to Oil-Supply Boost

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+ADw-div class+AD0AIg-articlesubtext+ACIAPg +ADw-div class+AD0AIg-articleDate+ACIAPg +ADw-div class+AD0AIg-articleSource+ACIAPg +ADw-p+AD4-by +AKA-Bloomberg+ADw-/p+AD4 +ADw-p+AD4AfAA8-/p+AD4 W. Mahdi, N. Razzouk +ACY-amp+ADs G. Smith+ADw-/div+AD4 +ADw-p+AD4AfAA8-/p+AD4 Saturday, June 23, 2018+ADw-/div+AD4 +ADw-/div+AD4 +ADw-/div+AD4 +ADw-br /+AD4APA-br…

Oil Jumps As OPEC Agrees To Modest Output Hikes

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+ADw-div class+AD0AIg-articlesubtext+ACIAPg +ADw-div class+AD0AIg-articleDate+ACIAPg +ADw-div class+AD0AIg-articleSource+ACIAPg +ADw-p+AD4-by +AKA-Reuters+ADw-/p+AD4 +ADw-p+AD4AfAA8-/p+AD4 Jessica Resnick-Ault +ACY-amp+ADs Andres Guerra Luz+ADw-/div+AD4 +ADw-p+AD4AfAA8-/p+AD4 Friday, June 22, 2018+ADw-/div+AD4 +ADw-/div+AD4 +ADw-/div+AD4 +ADw-br…

Big Oil Eyes US Minority Groups To Build Offshore Drilling Support

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+ADw-div class+AD0AIg-articlesubtext+ACIAPg +ADw-div class+AD0AIg-articleDate+ACIAPg +ADw-div class+AD0AIg-articleSource+ACIAPg +ADw-p+AD4-by +AKA-Reuters+ADw-/p+AD4 +ADw-p+AD4AfAA8-/p+AD4 Valerie Volcovici+ADw-/div+AD4 +ADw-p+AD4AfAA8-/p+AD4 Friday, June 22, 2018+ADw-/div+AD4 +ADw-/div+AD4 +ADw-/div+AD4 +ADw-br /+AD4APA-br class+AD0AIg-clear+ACI /+AD4 +A…

OPEC Insights: Experts Concerned About Supply Gaps, Emerging Markets

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Baker Hughes: US Oil Drillers Cut Rigs For First Time In 12 Weeks

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+ADw-div class+AD0AIg-articlesubtext+ACIAPg +ADw-div class+AD0AIg-articleDate+ACIAPg +ADw-p+AD4-by +AKA-Reuters+ADw-/p+AD4 +ADw-p+AD4AfAA8-/p+AD4 Friday, June 22, 2018+ADw-/div+AD4 +ADw-/div+AD4 +ADw-/div+AD4 +ADw-br /+AD4APA-br class+AD0AIg-clear+ACI /+AD4 +ADw-div id+AD0AIg-c+AF8-img+AF8-wrapper+ACIAPg +ADw-div…