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The Drilling Frenzy Is Over For U.S. Shale
The Drilling Frenzy Is Over For U.S. Shale A few high-profile shale executives say the glory days of shale drilling are over. In a round of earnings calls, the financial results were mixed. A few companies beat earnings estimates, while others fell dramatically short. But aside from the individual performances, there were some more newsworthy […]
OPEC Braces For Drastic Drop In Oil Demand
OPEC Braces For Drastic Drop In Oil Demand OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply elsewhere, and pressure from climate activists. In its World Oil Outlook, OPEC said that demand for its […]
The Warning Signs Are Flashing for U.S. Shale
The Warning Signs Are Flashing for U.S. Shale U.S. oil production growth has slammed on the breaks, as low prices and the loss of access to capital markets has forced a slowdown in drilling. Third quarter earnings reports will soon start to trickle in. Three months ago, the shale industry saw improvement in some of the headline […]
Capital Flight Is Killing The US Shale Boom
Capital Flight Is Killing The US Shale Boom The growth in U.S. shale production is grinding to a halt as low prices put drillers in a financial vice. The slowdown has been unfolding for much of 2019, but the latest slide in oil prices is another blow to cash-strapped companies. Share prices for many E&Ps […]
Oil Discoveries Hit 70-Year Low
Oil Discoveries Hit 70-Year Low The last three years has been the worst stretch of time in seventy years for new conventional oil discoveries. A new report from IHS Markit finds that conventional oil discoveries plunged to a seven-decade low and “a significant rebound is not expected.” Conventional exploration – as opposed to unconventional development, including shale […]
Secret Survey: U.S. Shale In A State Of ‘Deep Anxiety’
Secret Survey: U.S. Shale In A State Of ‘Deep Anxiety’ The financial stress sweeping over the U.S. shale sector has led to a sharp contraction in activity. Oil and gas activity in Texas and parts of New Mexico declined in the third quarter, with the Dallas Fed’s business activity index reporting a reading of -7.4, down […]
Possible Currency War Would Be A Disaster For Oil
Possible Currency War Would Be A Disaster For Oil Oil prices plunged on Friday after the U.S. and China both announced tariff hikes in tit-for-tat fashion. At the same time, markets opened on a positive note early Monday after President Trump struck a more conciliatory tone. But the respite could be brief. Global financial markets are completely at the […]
U.S. Shale Is Doomed No Matter What They Do
U.S. Shale Is Doomed No Matter What They Do With financial stress setting in for U.S. shale companies, some are trying to drill their way out of the problem, while others are hoping to boost profitability by cutting costs and implementing spending restraint. Both approaches are riddled with risk. “Turbulence and desperation are roiling the […]
Is US Shale Cannibalizing Itself?
Is US Shale Cannibalizing Itself? U.S. oil production continues to grow, but the shale industry is in the midst of a deceleration as low oil prices and a financial squeeze slow the pace of drilling. The U.S. added 246,000 bpd of fresh supply in April, the latest month for which data solid is available. That put to […]
Shale Pioneer: Fracking Is An “Unmitigated Disaster”
Shale Pioneer: Fracking Is An “Unmitigated Disaster” Fracking has been an “unmitigated disaster” for shale companies themselves, according to a prominent former shale executive. “The shale gas revolution has frankly been an unmitigated disaster for any buy-and-hold investor in the shale gas industry with very few limited exceptions,” Steve Schlotterbeck, former chief executive of EQT, […]
Two Events That Will Determine Oil Prices
Two Events That Will Determine Oil Prices Two big events over the next two weeks will determine the trajectory for oil prices in the second half of the year. One of those events will take place in Japan, the other in Austria. U.S. President Donald Trump will meet Chinese President Xi Jingping on the sidelines […]
Climate Change Could Trigger Global Financial Crisis
Climate Change Could Trigger Global Financial Crisis A top U.S. financial regulator is worried that climate change could threaten global financial markets. Rostin Behnam, a commissioner at the Commodity Futures Trading Commission (CFTC), said that the financial system was at risk from the growing frequency and severity of storms. “The impacts of climate change affect […]
Escalating Trade War Signals More Pain For Oil
Escalating Trade War Signals More Pain For Oil Trump backed off his proposed trade war with Mexico in the face of intense pressure from business groups and even his own party, but his faith in tariffs remains unbowed. In fact, Trump may have internalized a lesson that presents further risks to the global economy and […]
The Biggest Losers In The Shale Slowdown
The Biggest Losers In The Shale Slowdown Schlumberger saw its debt rating downgraded by S&P due to the unfolding slowdown in drilling by U.S. shale companies. The largest oilfield service company in the world has seen its earnings hit as the shale industry goes through a soft patch. S&P cut Schlumberger’s debt rating to A+, […]
The Undeniable Signs Of A Shale Slowdown
The Undeniable Signs Of A Shale Slowdown The world’s largest oilfield services company said its earnings were hit in the first quarter because of a slowdown in shale drilling activity. “First-quarter revenue of $7.9 billion declined 4% sequentially, reflecting the expected reduction in North America land activity and seasonally lower international activity in the Northern […]
