• Benchmark U.S. crude oil for January delivery fell 44 cents to $71.02 a barrel at press time. Brent crude for February delivery fell 5 cents to $76.10 a barrel.
Read MoreTag: Rystad Energy
Global Oil and Gas Exploration Shrinks
Global oil and gas exploration is set to falter this year as the number of licensed blocks and total acreage fall to near all-time lows as the sector struggles to shake off the effects of the Covid-19 pandemic and the ensuing oil market crash, Rystad Energy research shows.
Read MoreShale Producers Facing Hedging Losses
U.S. shale oil producers are in line to suffer more than $10 billion in derivative hedging losses this year if oil prices remain around $100 per barrel, Rystad Energy research showed. Many shale operators offset their risk exposure through derivative hedging, helping them to raise capital for operations more efficiently. Those who hedged at lower prices last year are in…
Read MoreESG on the Oil and Gas Side
Oil and gas companies in the United States are striving to find a balance between ongoing environmental, social and governance (ESG) initiatives and a desire to ramp up production as the world battles a sweeping energy crisis. All the while a larger conversation concerning so-called “greenwashing” – the practice of misleading investors into thinking environmentally unfriendly practices are, in fact,…
Read MorePermian Delaware Output to Hit Record in 2022
Total hydrocarbon production in the Permian Delaware Basin, the top-producing play in the Permian, will hit a record 5.7 million barrels of oil equivalent per day (boepd) average in 2022, according to Rystad Energy research. Spurred on by high oil prices and appealing well economics, total production is set to grow by around 990,000 boepd, almost half of which –…
Read MorePermian Drilling Permits Hit All-Time Monthly High in March
Horizontal drilling permits for new wells in the Permian Basin hit an all-time high in March, with 904 total permit awards, driven by elevated oil prices and production demand, Rystad Energy research shows.
Read MoreThe $100 a Barrel Scenario
Up to 2.2 million barrels per day (bpd) of U.S. tight oil could be unleashed in the event of a supercycle – with oil prices remaining around or above $100 per barrel – driven by growing demand and continued supply tightness, Rystad Energy predicts.
Read MoreRystad Says Productivity of New Wells in the Permian to Hit a Record High
The average productivity of new wells in the Permian Basin is set to hit a record high in 2022, breaching past 1,000 barrels of oil equivalent per day (boepd) due to a surge in lateral well length, Rystad Energy research indicated.
Read MoreThis Week’s Market Buzz
At press time, Brent futures fell 67 cents, or 0.8%, to $87.71 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 58 cents, or 0.7%, to $84.97.
Read MoreDemand for Wisconsin Frac Sand Increased Slightly in 2021
According to Rich Kremer, writing for Wisconsin Public Radio, industry experts say demand for Wisconsin frac sand increased slightly in 2021.
Read More