Shale News Updates

CEO Kaes Van’t Hof said that while he expects prices to stay “higher for longer,” he’s erring on the side of caution regarding exploration and production. 

In a series of anonymous comments from a report released by the Federal Reserve Bank of Dallas, energy executives called out the wide swings in oil prices as the main source of their unease. 

Chevron and ConocoPhillips cut capital expenditure in the Lower 48 by 10% in the first six months of the year while Occidental Petroleum cut spending in the Permian Basin by 20% in that period.

Jeff Currie's 1947 Oil & Gas is preparing to offer shares ahead of a planned listing on London’s Alternative Investment Market next month, according to Bloomberg.

The deal, expected to close in the late third quarter, expands Magnolia's presence in the Eagle Ford Shale basin of south Texas.

For 75 years, petroleum has been the energy source that has powered the U.S. more than any other. That’s about to change.

“We’re losing money hand over fist on gas,” Elevation CEO Steve Pruett said in an interview. “Gas is half our product, so it’s really maddening.” 

The 68% surge in crude prices since the Iran war began roughly five weeks ago is incentive enough to compel American oil executives to ramp up output.

U.S. fracking companies are increasingly sending their idle equipment overseas, finding new markets abroad as growth slows in the shale fields of Texas, New Mexico and elsewhere.

The deal, expected to close in the second quarter, illustrates how shale companies are pushing to consolidate, as many of the best U.S. drilling sites have been tapped.