Archive | December, 2017

US shale recovery will leave OPEC with a difficult 2018, IEA says

The IEA said that there were signs that the rise in U.S. crude oil supply was likely to continue into 2018 and upset rivals who are cutting back. U.S. oil producers are staging a dramatic comeback amid a recovering oil price that has allowed many of them to restart operations. Preliminary weekly data suggests that […]

Read more

Atlas Sand Company Announces Plan to Locally Supply the Permian Basin….

Atlas Sand Company Announces Plan to Locally Supply the Permian Basin with 12 Million Tons per Year of High-Quality Frac Sand AUSTIN, Texas, Dec. 19, 2017 /PRNewswire/ — Atlas Sand Company, LLC (“Atlas,” “Atlas Sand,” or the “Company”) is pleased to announce its plan to locally supply the Permian Basin with 12 million tons per year of high-quality […]

Read more

US Shale Oil Drillers Set to Kick Off the New Year with Big Production Gains

Crude oil production from seven major shale regions is set to grow by 94,000 barrels a day in January, the Energy Information Administration forecast. Total output from those regions is seen topping 6.4 million barrels a day next month. RBC’s Helima Croft: US shale production is going to come back in 2018 America’s shale drillers […]

Read more

FourPoint Energy Announces New Equity Financing with Quantum Energy Partners……

FourPoint Energy Announces New Equity Financing with Quantum Energy Partners and Closes the Acquisition of Jointly Owned Properties in the Texas Panhandle FourPoint Energy, LLC announced today a new equity financing and the closing of a strategic upstream and midstream acquisition in the Anadarko Basin. Quantum Energy Partners has agreed to invest $489 million in common equity in […]

Read more

BP Doubles Power of Oil-Finding Supercomputer 

  British oil major BP has more than doubled the power of the supercomputer that discovered 200 million barrels of oil in a hidden Gulf of Mexico cache last year. The machine is now the most powerful commercial research computer in the world, BP said. Last year, BP began testing a new algorithm to image […]

Read more

Something for everyone at AOG 2018

With less than 100 days to go until the doors open for the Australasian Oil & Gas Exhibition & Conference (AOG 2018) in Perth next March, excitement is building for the 37th staging of the leading international oil and gas industry event. Driving that excitement is a noticeable upturn in the oil and gas sector and a list […]

Read more

Will The ‘Digital Oilfield’ Still Need Roughnecks?

  An oil drilling rig pictured in rural DeWitt County, TX Industry insiders say the work might change, but companies will still need the people Some say oilfield workers of the future will need new tech skills, but that at the same time, their jobs will be easier. However it plays out, the industry’s digital […]

Read more

One of the Biggest U.S. Oil Fields Turns to an Unexpected Power Source: Solar

The Belridge oil field near Bakersfield, California, is one of the largest in the country. It has been producing oil for more than a century and last year produced around 76,000 barrels a day, according to operator Aera Energy. Now the oil field is about to become even more remarkable. Its future production will be […]

Read more

Alex Cestero joins PESA Legal Committee and Advisory Board

Alejandro (Alex) Cestero, Senior Vice President, General Counsel, Secretary and Chief Compliance Officer, Frank’s International, has joined the PESA Legal Committee and will serve as Vice Chairman. The Legal Committee offers special educational programs on a diverse range of topics of interest to the legal, risk management and compliance departments of the oilfield service and […]

Read more