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Yergin’s Take
“World Oil” reports on Daniel Yergin’s comments at the Global Financial Markets Forum in Abu Dhabi recently. Yergin, the author of The Prize, a Pulitzer Prize winning history of the oil industry, is regarded as one of the foremost authorities on energy matters in the world. Yergin is more optimistic regarding the potential impact of… Read More
From Kicking the Can to Kicking the Bucket
“Rigzone” reports that a study by accounting and consulting firm, Deloitte, found that out of 500 publicly traded oil and gas exploration and production companies, roughly 175 were at risk of bankruptcy. Falling prices have necessitated budget cuts and thousands of layoffs, but this will still not be enough for some operators. The oil and… Read More
Much Sound and Fury Signifying Nothing
Initially, the agreement between Russia, Saudi Arabia, Qatar and Venezuela to freeze production at January levels sparked optimism. Oil market observers thought this might lead to price stability, and ultimately, to recovery. However, optimism did not last long and there is an emerging consensus that the agreement was much like Hamlet’s reflection on life. A… Read More
Shale Production to Drop
“World Oil” reports that shale oil and gas production is finally going to fall. In spite of a 70% drop in the price of crude oil over the last 20 months, production has remained relatively flat. Shale operators have proven very resourceful, employing a number of strategies such as using drilling wells but not completing… Read More
Shale Revival
“Rigzone” reports that despite low prices and falling production, U. S. oil output will recover to a record high of 14.2 million barrels of oil per day (bopd) by 2021 according to the International Energy Agency (IEA). The shale component of U. S. oil output is projected to drop by 600,000 bopd this year and… Read More
