Hints and tips:
...Oil producers hedge prices in futures and other derivatives markets to guard against price drops and ensure they have cash to fund drilling, debt payments and other expenses....
...That cash flow is being ploughed into both drilling and carbon capture technology, including CO₂ sequestration facilities, transport pipelines and storage concentrated along the Gulf of Mexico coast....
...Shale groups funnelled unprecedented amounts of cash back to shareholders in the forms of dividends and stock buybacks in 2022, responding to Wall Street demands after a decade of debt-fuelled drilling binges...
...Oil people like cash well enough — but they really like drilling wells....
...Analysts said the move could free Continental to do what public producers have for months been told by Wall Street not to: fire up drilling rigs to capitalise on a surge in oil prices to well above $100...
...It amounts to a “pretty phenomenal outcome”, said Matt Portillo, head of research at investment bank Tudor, Pickering, Holt & Co....
...Biden officials said there was nothing stopping drillers from drilling. Both agreed on another guilty party: Wall Street....
...Better known in the US for its petrol stations, offshore drilling and the Deepwater Horizon oil spill, BP last year pledged to begin reducing crude production, cutting emissions — including rampant flaring...
...Job moves The head of oil group Equinor’s drilling operations Anders Opedal will take over as chief executive of the Norwegian company in November, replacing Eldar Saetre....
...Baker Hughes took a 5 per cent stake in Adnoc’s drilling unit....
...The rise was driven by more US shale drilling....
...In August 2019, Larry Fink, co-founder of BlackRock, the world’s largest asset management group, flew out to the remote wilderness of Lake Iliamna in south-west Alaska....
...Since then, it has tapped debt capital markets, floated a stake in its retail arm, launched plans to trade its flagship crude on an exchange in Abu Dhabi and signed partnerships in drilling, refining, fertiliser...
...HoneyBee Robotics designs mechanical tools for space exploration and was last year awarded a contract from Nasa to send two payloads to the moon for drilling....
...What these owners did not anticipate was that the cost of exploring and recovering oil has not fallen, and hydraulic fracturing of wells has not made their drilling any more efficient....
...The dispute encapsulates thorny questions policymakers face as shale drilling unleashes US gas output while climate scientists urge a sharp reduction in fossil fuel use....
...Offshore driller Ensco has agreed to buy Rowan Cos in an all-stock transaction to create a combined company with an enterprise value of $12bn, the latest round of consolidation in the oil sector as crude...
...The incentives for co-operation are strong but so too are the barriers....
...Mr Rostand said that DUCs would be available to be brought into production in the future, but their contribution could be offset by a slowdown in activity and declining drilling productivity....
...Across the shale industry, drilling activity is increasing even faster than it did in the final stages of its first boom, up until 2014....
...The problem for the region is that as increased drilling also raises US crude production, it will put downward pressure on prices....
...Genel has had failed forays elsewhere — drilling for oil in Angola, the Ivory Coast and Malta with little to show for its efforts. Mr Hayward resigned on Monday....
...At the time, Cobalt’s directors included representatives of Goldman and US private equity firm Riverstone, which had co-founded the oil explorer with $500m in 2005 before an initial public offering in New...
...Other cost reductions arose from internal innovations in well design, drilling and completions....
...Drilling rights are often held by smaller companies that are prepared to sell out, giving larger operators a chance to build positions....
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