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Everything is better in a boom, even the GDP | OutPut by Rig Lynx

July 31, 2018

Higher oil prices this year boosted U.S. oil production, and the U.S. oil industry played a large part in Americaâ€™s impressive second quarter economic growthâ€”the fastest growth since the third quarter of 2014. Real U.S. gross domestic product (GDP) rose at an annual rate of 4.1 percent in the second quarter of 2018, according to the â€˜advanceâ€™Â estimateÂ released by

Permian home of the current boom but also home to something else | OutPut by Rig Lynx

July 30, 2018

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The fastest-growing oil region in the U.S. is fueling not only the second American shale revolutionâ€”itâ€™s fueling a subculture of drug and alcohol abuse among oil field workers. The Permian shale play in West Texas is once again booming with drilling and is full of oil field workers, some of which are abusing drugs and alcohol to help

Shell grabs Naga 7 for work in Malaysia | OutPut by Rig Lynx

July 30, 2018

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The company, formerly known asÂ UMW Drilling, said on Friday it would deploy the Naga 7 jack-up rig for the contract. According to Velesto, the estimated contract value is around $25 million, with the start date to be between August 1, 2018, andÂ September 30, 2018. The Naga 7, designed by Gusto MSC, was built in China in 2015. Itâ€™s

Is big oil keeping downstream issues quiet | OutPut by Rig Lynx

July 30, 2018

| Archives

ExxonMobil, Shell and Chevron, the companies they lead, all missed earnings estimates due to issues with their downstream units. At a time when dedicated refiners such as Phillips 66 and Valero Energy Corp. have become the rock stars of the earnings season, the integrated oil majors are struggling to meet optimistic estimates largely based on rising crude

Mexicoâ€™s president making new promises | OutPut by Rig Lynx

July 30, 2018

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Mexicoâ€™s newly elected president has pledged to boost the countryâ€™s long-neglected oil sector. AndrÃ©s Manuel LÃ³pez Obrador has said he is committed to recovering Mexicoâ€™s oil and gas output, which has declined over the past 14 years due to a lack of investment and natural reduction of oil fields. Hisâ€™s proposals include a $4bn injection for state oil company

In case you missed them, hottest news for this past week | OutPut by Rig Lynx

July 29, 2018

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Chesapeake sales $2 Billion of Utica assets to Houstonâ€™s Encino As per the deal, Chesapeake Energy will sell more than 900,000 net acres of leasehold spanning the condensate, liquids-rich and dry gas windows of the Utica play in Ohio. The assets considered for the sale also include approximately 900 wells which produce more than 600 million cubic feet of

Oil experts scratching head over the prices | OutPut by Rig Lynx

July 29, 2018

| Archives

Oil price projections are infamously all over the map, but the current chasm between various pricing forecasts is striking, offering wildly different views. On the low end we have Citibank, which recently stated that Brent oil prices could fall to as low as $45 per barrel within the next year. Citiâ€™s Ed Morse said that Brent could very

Texas breaking records with less rigs and people | OutPut by Rig Lynx

July 29, 2018

| Archives

Six months ago, Texas wasÂ on the cusp of breaking oil production records. In June, crude oil production reached 4.3 million barrels per day, putting Texas on track to â€œshatterâ€ the previous record of 1.263 billion barrels in 1972. â€œWeâ€™re going to blow that record out of the water,â€ Karr Ingham, Texas oil economist and creator of the Texas

Big oil spending cash as reserves are rising | OutPut by Rig Lynx

July 29, 2018

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One of the most significant threats to global oil supplies is the oil industryâ€™s investment slump of 2015 and 2016. The crash in oil prices resulted in significant cuts to capital expenditures, which means that some production will be delayed or canceled. Many companies and agencies have warned that these spending cutsÂ put future oil supplies at risk. As

Oil was set for a comeback but fell short at closing Friday | OutPut by Rig Lynx

July 29, 2018

| Archives

Oil prices were essentially flat early on Friday morning in quiet trade, but were on track for theirÂ first weekly gainÂ in four weeks as tension around a key Middle Eastern chokepoint lent support to the price of oil earlier this week. At 08:07 a.m. EDT on Friday,Â WTI Crude was downÂ 0.24 percent at $69.44, andÂ Brent Crudewas down 0.01 percent at

Author: Admin

Everything is better in a boom, even the GDP | OutPut by Rig Lynx

Permian home of the current boom but also home to something else | OutPut by Rig Lynx

Shell grabs Naga 7 for work in Malaysia | OutPut by Rig Lynx

Is big oil keeping downstream issues quiet | OutPut by Rig Lynx

Mexicoâ€™s president making new promises | OutPut by Rig Lynx

In case you missed them, hottest news for this past week | OutPut by Rig Lynx

Oil experts scratching head over the prices | OutPut by Rig Lynx

Texas breaking records with less rigs and people | OutPut by Rig Lynx

Big oil spending cash as reserves are rising | OutPut by Rig Lynx

Oil was set for a comeback but fell short at closing Friday | OutPut by Rig Lynx

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