Haliburton: The Era Of Exponential Growth In US Oil And Gas Is Over

Haliburton: The Era Of Exponential Growth In US Oil And Gas Is Over

The era of “exponential” growth in the US oil and gas industry is over as most shale firms are returning cash to investors instead of going into debt to drill more, according to Halliburton, the world’s largest fracking services provider. “We’ll see growing investment, but quite frankly, nothing even close to what we saw from … Read more

Fracking: What’s all the fuss about it in the UK?

Fracking: What’s all the fuss about it in the UK?

CNN — The UK’s world of politics plunged deeper into turmoil on Wednesday night after a debate on fracking led to alleged physical altercations between Prime Minister Liz Truss’ aides and lawmakers from her own Conservative Party. Last month, Truss’ government formally lifted a ban on fracking for shale gas that had been in place … Read more

While Europe Banned Fracking, The US Is Transforming It

While Europe Banned Fracking, The US Is Transforming It

The US has benefitted significantly from fracking over the last decade, with hydraulic fracturing helping producers to access some of the most hard-to-reach fossil fuel resources. But the industry has faced continual criticism from environmentalists who fear the impact of fracking operations on the environment. Instead of moving away from fracking, like many European countries, … Read more

Why Europe Won’t Exploit Its Huge Gas Reserves

Why Europe Won’t Exploit Its Huge Gas Reserves

As energy prices continue to soar across Europe, with gas prices surging 26% on Monday after Russia stopped pumping via Nord Stream 1, the highly contentious fracking debate is now re-emerging on the continent, led by a new British prime minister with fossil fuels on her mind. The European Union–which no longer includes the UK–plans … Read more

US Natural Gas Futures Shed Over 5% On Soaring Output

US Natural Gas Futures Shed Over 5% On Soaring Output

US natural gas futures shed around 5% on Tuesday, hitting a four-week low as soaring output coupled with lower demand forecasts drags prices down, despite the fact that inventories are 11% lower than their five-year norm. US natural gas was down 5.2% at 1:10 pm EST, to $8.38. Output is still holding strong after the … Read more

Liberty Energy Chief Executive: Oil Is Far From Dead

Liberty Energy Chief Executive: Oil Is Far From Dead

“Three decades from now the vast majority of energy will come from hydrocarbons.” This prediction was made earlier this week by Chris Wright, chief executive of Liberty Energy, the second-largest fracking services provider in the US Speaking to Bloomberg, Wright went a lot further, too. He dismissed the idea that there was an energy transition … Read more

Permian Basin On Track For Record September Production

Permian Basin On Track For Record September Production

The largest shale basin in the United States, the Permian, is on track to hit a record 5.408 million barrels per day next month, with production set to rise by 79,000 bpd, according to the Energy Information Administration (EIA). In its latest drilling productivity report released on Monday, the EIA said total output among all … Read more

Halliburton Warns Significant Frack Growth May Be Impossible This Year

Halliburton Warns Significant Frack Growth May Be Impossible This Year

Fracking, or hydraulic fracturing, is an oil extraction technique that involves high-pressure water blended with sand and chemicals, forced into underground rocks known as shale to capture oil and gas. The process was revolutionized by horizontal drilling in the 1980s and 2000s, transforming America into the world’s largest oil producer overnight. American shale drillers have … Read more

Baker Hughes: Oil Market Faces “Unusual Set of Circumstances”

Baker Hughes: Oil Market Faces “Unusual Set of Circumstances”

Baker Hughes (NASDAQ: BKR) missed analyst forecasts of adjusted earnings as it reported on Wednesday a set of what it said were “mixed results” for the second quarter of 2022 due to supply-chain inflation and revenue losses from the suspension of its operations in Russia. Looking ahead, Baker Hughes sees the oil market facing “an … Read more

US Natural Gas Prices Hit Highest Level In 14 Years

US Natural Gas Prices Hit Highest Level In 14 Years

The benchmark US natural gas price soared by more than 7% early on Monday to hit the highest level since the second half of 2008, as Europe races to buy non-Russian gas after Putin’s invasion of Ukraine. At 10:18 am ET, the front-month futures price at the Henry Hub had jumped by 6.37% at $7.755 … Read more