Fulfilling his campaign pledge to bring the Keystone XL and Dakota Access pipelines back to the table, President Donald Trump signed executive orders Tuesday reversing the position forged by former President Barack Obama. The orders don’t fast-track either pipeline, but “advance” them for renegotiation. Trump has long said he could obtain a “better deal” for… Read more »
Monthly Archives: January 2017
Oil Economist: Bloodbath Over for Industry; Better Days Ahead
Following 23 consecutive months of declines in oil and gas jobs in Texas, November saw jobs being added to the industry, according to Texas oil economist Karr Ingham. Ingham, who created and maintains the Texas Petro Index (TPI), said after two years of depressed upstream activity, the industry is positioned to bounce back. “This is… Read more »
IEA Sees Significant Gains in US Shale Oil as Prices Rise
(Bloomberg) — Oil-price gains will trigger a “significant” increase in U.S. shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency. “U.S. shale-oil production will definitely react strongly,” Executive Director Fatih Birol said Wednesday in a Bloomberg Television interview in Davos, Switzerland. At $56 to $57 a… Read more »
ExxonMobil’s $5.6B Acquisition Validates Permian as Core Operator Strategy
Exxon Mobil Corp.’s acquisition of 3.4 billion barrels of oil equivalent (Bboe) in New Mexico’s highly-prolific, oil prone section of the Permian Basin, offers good value for the company, and validates the Delaware and operators who have made the Permian Basin their core strategy, industry analysts say. The company is the latest to expand its… Read more »
EIA: US Set To Become Energy Exporter By 2026
NEW YORK, Jan 5 (Reuters) – The United States is projected to become a net energy exporter over the next decade due to rising natural gas exports and falling petroleum product imports, the U.S. Energy Information Administration said on Thursday. While the United States has been a net energy importer since 1953, declining energy imports… Read more »
Shale Specter Haunts OPEC as Oil Seen Rallying Into 2017
After pulling off the biggest oil-market deal in a decade, OPEC faces a new balancing act in 2017: boosting prices without igniting shale. The first shale boom spurred a global supply glut that started prices sliding in mid-2014, and was amplified that November by a pump-at-will OPEC strategy aimed at market dominance. During the ensuing rout, prices… Read more »
