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
Business, Fuel, Logistics

Resurgent Oil Fields Keep Drivers in Short Supply

Oil derricks in the Permian Basin Oil derricks in the Permian Basin. (Jim Hickcox/Flickr)

These are boom times in West Texas. Across the state, the robust shale industry is providing a lift to local economies and trucking companies that serve the region. It’s also a microcosm for the trucking industry overall when it comes to finding drivers to keep the wheels of growth turning.

Dan Ronan | Associate News Editor
December 18, 2018
Government, Fuel

Troubled $4.6 Billion Shale Pipe Hits New Snag on Ruling

Shale Chart Bloomberg News

A $4.6 billion shale gas pipeline that already has been delayed by about a year is facing another setback after a court vacated a key permit.

Rachel Adams-Heard | Bloomberg News
October 3, 2018
Business, Fuel

US Oil Debt Eases

Oil Workers Drilling Shale Oil workers drilling shale (Brittany Sowacke/Bloomberg)

U.S. oil and gas producers expect their borrowing ability to increase over the next few months, leaving them open to invest in new shale assets, particularly the Eagle Ford in Texas.

Kevin Crowley | Bloomberg News
April 10, 2018

America’s Hottest Oil Play Just Needs a Few Thousand Truckers

Oil Worker in Texas Brittany Sowacke/Bloomberg News

When the price of oil collapsed in 2014 and disrupted drilling operations all across Texas’ massive Permian Basin shale formation, truckers were among those hardest hit.

Sheela Tobben | Bloomberg News
December 26, 2017