Oil Production in the Permian will surpass 4 million barrels per day (MMbpd) in March. That’s according to the U.S. Energy Information Administration’s (EIA) latest drilling productivity report, which forecasts…
Month: February 2019
Industry NewsDevon to Shed Assets, Focus on US Oil
By admin0HOUSTON, Feb. 20 02/20/2019 By OGJ editors Devon Energy Corp. plans by yearend to sell or spin off its heavy oil properties in Canada and gas production in the Barnett…
Industry NewsAmerica's Shale Boom Keeps Rolling
By admin0(Bloomberg) — America’s surging shale oil production shows little sign of abating, despite industrywide spending cuts, as explorers learn to do more with less. Almost all the independent producers have…
MARKET WATCH: Crude oil prices rise on lower-than-expected API inventory
By admin0HOUSTON, Feb. 21 02/21/2019 By Paula Dittrick OGJ Upstream Technology Editor Light, sweet crude oil prices gained on the New York market Feb. 20 while the American Petroleum Institute estimated…
Industry NewsDeloitte Release 2019 Oil, Gas, and Chemicals Industry Outlook
By admin0Five trends for the oil and gas and chemicals industries. In 2018, global oil demand looks likely to have breached 100 MMbbl/d for the first time, natural gas continues to…