Oslo-based Rystad Energy said May 15 that starts of new hydraulic fracturing jobs in U.S. will hit a low in May before a recovery begins in 2020Q3. Rystad said, “The covid-19 pandemic and the low oil price environment it has created continue to affect global energy markets and activity levels by oil and gas producers.” […]
Texas Petro Index declines for 12th straight month to 188.5 in February
Texas Petro Index by petroleum economist Karr Ingham declined in February for the 12th consecutive month to 188.5 from 191.9 a month ago in January 2020 and 213.2 a year ago in February 2019 (down 11.8 percent in past year). The index is based on a comprehensive set of economic indicators in the industry (base […]
Future Oil Price Road Map
Oil Price Stability: Fragile Barring a geopolitical event, latest data indicates a market balance will endure in coming months, keeping oil prices near current levels. Long term, the bias is higher, with growing evidence a supply gap will emerge before 2025. by Paul Kuklinski WTI crude is $67/B, compared to a 1H18 average just over […]
Charting Performances
Permian Break-Even: As Low as $22 a Barrel During the last three years, companies operating in the Permian Basin have drilled much longer laterals and used substantially more complex well completion design in their newer wells with the aim of reaching higher initial production (IP) rates. Well lateral lengths in the Permian have increased in […]