Scoop-Stack to Hit Record-low in Terms of Average Rig Count in 2020
Scoop-Stack hit a peak, in terms of rig count in 2018, averaging approximately 75 rigs for the year with the majority of them operating within...
Upstream
Oil Price Crashes to Record Low
by Alex Mills
“Classic supply and demand imbalance.” “Perfect storm.” “Insane.” That’s how government and oil industry officials described the historic collapse of crude oil prices this week....
Crude Production Cuts in the US Too Slow to Support the Price as Storage Runs Out by Mid-May
Following the historic fall of the West Texas Intermediate (WTI) futures price for May delivery into negative territory, going as low as negative US$37.6 per...
Global Oil Glut Drives Down Price
by Alex Mills
The oil industry in the United States once again faces dramatic declines in crude oil prices at the hands of foreign countries seeking to bankrupt...
Chemical and Oil Companies to Slash Capex, Slowing Investment Wave
by Joseph Chang
In the wake of the coronavirus and collapse in crude oil prices, chemical, and oil and gas, and midstream companies will all slash capital spending...
Russian Oil and Gas Operators Emerge on Top Despite the Plummeting Oil Prices
Following the news that global oil prices plummeted to an 18-year low on March 18 as a result of the coronavirus-fueled demand shock and the...
Scoop-Stack Shale Play Drilling Activity Driven by Select Counties in Oklahoma
The Scoop and Stack shale plays of Oklahoma may not be as prolific as the Permian Basin or the Bakken shale play. However, acreages across...
Reduction in Gas Flaring Benefits Producers and the Environment
More than 4.6 trillion cubic feet of natural gas were flared globally in 2019. The potential value of this flared gas could be as high...
Were Oil & Gas Producers Hedged For The Recent Price Collapse?
While energy markets continue to be volatile, fewer oil and gas producers have hedges in place than in prior years. In addition, a number of...
Production in Bakken Formation Expected to Drop by 170 Thousand boe Per Day in 2020
Following the expected cuts in capital expenditure (capex) for shale operators in the Bakken due to demand shock from the coronavirus (COVID-19) and supply shock...