Government, Business, Fuel

Oil Executives Urge Biden to Unleash Shale

Shale well A worker for Horizontal Well Drillers uses a power washer as a shale-gas well is drilled in Mannington, W.Va. (Ty Wright/Bloomberg)

The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale.

March 4, 2022
Business, Fuel

After Blowing $300 Billion, US Shale Finally Makes Money

Texas oil field A gas flare at a field near Mentone, Texas. (Bronte Wittpenn/Bloomberg)

After years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracking industry seems to have found a sweet spot. It’s poised to generate more than $30 billion of free cash this year.

June 18, 2021
Government, Business

Shale Drillers Puzzle Analysts With $7.4 Billion Merger

Shale An active oil drilling rig stands in Midland, Texas. (Matthew Busch/Bloomberg News)

Shale investors have been demanding more consolidation in the U.S. oil patch. But not exactly a deal like this one.

David Wethe | Bloomberg News
May 25, 2021
Government, Business, Fuel, Logistics

Exports Boosted US Shale Market, but Long-Term Demand Uncertain

The Theo T oil tanker sits docked at a facility in Corpus Christi, Texas, in December 2015. The Theo T oil tanker sits docked at a facility in Corpus Christi, Texas, in December 2015. (Bloomberg News)

These past five years could very well go down as the best years that U.S. shale oil exporters will ever see.

January 12, 2021
Business, Fuel

Shale Driller Sells Gas Fields for Fraction of Purchase Price

A gas flare is seen in a field near Mentone, Texas, in August 2019. A gas flare is seen in a field near Mentone, Texas, in August 2019. (Bronte Wittpenn/Bloomberg News)

Range Resources Corp. is selling its Louisiana shale fields for about one-tenth of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller.

Joe Carroll | Bloomberg News
August 4, 2020
Government, Business, Fuel

US Energy Chief Shrugs Off Permian Oil Slowdown as ‘Pause’

Dan Brouillette Dan Brouillette by Al Drago/Bloomberg

The golden age of U.S. shale is far from over, with an expected slowdown in the Permian Basin likely to be temporary, according to new U.S. Energy Secretary Dan Brouillette.

Stephen Cunningham | Bloomberg News
December 18, 2019
Government, Business, Fuel

Offshore Oil to Peak in 2020, Then Join Shale in Market Drop, Analysts Say

An oil platform in the Gulf of Mexico An offshore oil platform in the Gulf of Mexico. (Getty Images)

Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slowdown that could dramatically rewrite market supply predictions.

November 12, 2019
Government, Business, Fuel

Shale Oil Pioneers Say the Boom Times Are Over

Shale Oil The Texas flag flies at a drilling rig in the Permian basin outside of Midland, Texas. (Brittany Sowacke/Bloomberg News)

The days of relentless production growth from U.S. shale oil fields are ending, potentially aiding OPEC’s yearslong effort to drain a worldwide supply glut, according to industry pioneers Scott Sheffield and Mark Papa.

November 6, 2019
Government, Business, Fuel

Permian Basin Watch: America’s Hottest Shale Play Is Slowing Down

Permian Basin Workers at the Permian Basin. (Daniel Acker/Bloomberg News)

The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing some signs of waning.

Ryan Collins | Bloomberg News
July 16, 2019
Government, Business, Fuel

US Shale’s Blows Leave Middle East Oil Sellers Staggering

oil drilling rig A pumpjack operates as a drill rig sits on a well pad in the Bakken Formation in Williston, N.D. (Daniel Acker/Bloomberg)

The U.S. oil industry is delivering a one-two punch to Middle East producers already reeling from a collapse in prices. A tussle is playing out in the market for so-called light oils, which have a lower sulfur content and are less dense than heavier varieties.

Serene Cheong | Bloomberg News
December 27, 2018