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Biggest Oil Importer
The title of “World’s Biggest Oil Importer” is a dubious distinction, but one which the U. S. has long held, according to a recent article in “Rigzone”. However, our perennial claim to the title is being threatened by China. In fact, in April of 2015 when U. S. oil production peaked and our imports fell,… Read More
IEA Update
“World Oil” reports that the International Energy Agency (IEA) now predicts global supply and demand being almost in balance by the end of this year. The current oversupply is much smaller than originally estimated, production is lower than anticipated, and demand stronger. The Agency now sees the global oil glut as about 40% smaller than… Read More
DUC to Come Online
There has long been speculation as to the crude oil price necessary for shale operators to frac drilled but uncompleted (DUC) wells, also known as the “fraclog”, and start drilling new wells. According to a recent article in “World Oil”, we now know the answer, at least for one company. With crude prices doubling from… Read More
Permian Sweet Spots
The Permian Basin has long been considered one of three biggest shale plays in the U. S., along with the Bakken in North Dakota and the Eagle Ford in South Texas. It now dominates the domestic rig count with more active rigs than the other major shale plays combined. A recent article in “Oil Voice”… Read More
Devon Asset Sales
“World Oil” reports that in three separate transactions, Devon Energy is selling assets totaling almost $1 billion to undisclosed buyers. These sales include properties in East Texas, the Granite Wash area of the Anadarko Basin, and the Permian Basin. Devon is selling assets producing approximately 22,000 barrels of oil equivalent per day (boepd) in East… Read More
