Even with crude above $100 a barrel, producers in the Permian and other U.S. shale basins are riding the brakes.
Operators continue to look for field solutions that bring greater efficiencies and cost-savings. With these concerns top of mind, we recently introduced our more streamlined SPM™ Simplified Frac Iron System.
Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion.
The recovery of the shale patch workforce is still years in the making despite the frothy profits that rallying crude prices are generating for U.S. oil companies and their contractors.
A high-performance WBM, with an innovative polymer chemistry, is exceeding operator expectations in reducing operational time and expense, compared to NAF.
Weekly U.S. crude oil production declined for the first time in three months, signaling that soaring costs across the oil fields may be preventing drillers from expanding output.
Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from steel pipe to frac sand to ease any time soon.
It may have taken an investor rebellion, a pandemic and a war in Europe, but U.S. shale oil and gas producers are now on the cusp of making back their losses from the last decade.
Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs.
U.S. shale giants stung by billions of dollars in hedging losses are spending big bucks to ditch their positions in a risky bet that prices stay high.
Shale drillers Diamondback Energy, Devon Energy and Coterra Energy are boosting dividends while keeping oil output flat despite pleas from President Joe Biden to increase supplies and help take some the edge off of inflation.
After driving up prices for everything from steel pipes to frac sand to labor, inflation has finally ensnared the centerpiece of oilfield equipment: the drilling rig.
Continental Resources Inc., Hess Corp. and Matador Resources Co. signaled plans to raise production from U.S. shale basins, a potential harbinger of things to come as Big Oil prepares to report results later this week.
Whitecap Resources Inc., a Canadian conventional and shale driller, plans to increase natural gas activity in the second half of the year to capitalize on a surge in prices, Chief Executive Officer Grant Fagerheim said.
Scott Sheffield has a forewarning for the acreage-restricted private operators helping drive record production in the Permian basin: your annual double-digit growth rates are unsustainable.
Halliburton, which controls more fracing capacity than any other company, predicted North American explorers will boost spending by 35% this year, up from a pre-war forecast of 25%.
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing.
Halliburton Co. said North American oil and natural gas drillers will lift spending by 35% this year, an increase from the biggest fracer’s pre-Russian war forecast.
Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half a decade.
Quantum Energy Partners, one of the largest private-equity players in U.S. shale, is reloading its leadership ranks following the step back of a senior partner earlier this year.
U.S. crude output will grow at a more diminished pace than previously expected as shale producers grapple with higher production and labor costs amid rampant inflation.