Commodity Trade Mantra

Posts Tagged ‘Drilling Rigs’

Victory For Saudi Arabia, North Dakota's Largest Oil Producer Suspends All Fracking

Reuters reports, that North Dakota’s largest producer, Whiting Petroleum, would suspend all fracking, and that Continental Resources has effectively done the same after reporting that it no longer has any fracking crews working in the Bakken shale. It was also a confirmation that the Saudi plan to put high-cost producers on ice is working, if only temporarily.

The Top 12 Media Myths On Oil Prices

The upstream oil and gas industry is not a black hole. Its only when the media gets a hold of it, it all becomes complicated. There is so much hyperbole and unsupported guesswork that investors don’t have a chance. So, in a small effort to set the record straight, let’s see if we can’t dispel some of the misinformation.

U.S. Shale Boom May Come To Abrupt End

I believe US oil production will fall sooner & more sharply than many analysts predict. Average well productivity has decreased by one-third. Every rig taken out of service today has more than 3 times the impact on daily production as before pad drilling became common. A good thing for oil price recovery but maybe not for future shale plays.

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