Home / Tag Archives: eia

Tag Archives: eia

Half of continental U.S. oil production comes from new wells

Half of continental U.S. oil production comes from new wells

About half of the oil produced in the continental United States last year came from wells drilled after January 2014, according to the U.S. Energy Information Administration. The data provides insight into the importance of short-cycle shale production and advances in oil industry technologies. Many companies are targeting short-cycle investments, lower-cost projects that take months, rather than years, to come ...

Read More »

EIA forecasts short-term energy outlook

EIA forecasts short-term energy output

The U.S. Energy Information Administration released its short-term energy outlook Tuesday. The report forecasts oil and natural gas production for the next two years. North Sea Brent crude oil prices averaged $32 per barrel, a $1 increase from January prices. Brent crude prices are predicted to average $34 in 2016 and $40 in 2017. The forecast reflects higher –than-expected oil ...

Read More »

EIA: Consumption will drive natural gas prices up

EIA: Consumption will drive natural gas prices up

Natural gas prices are expected to rise, according to the EIA’s latest Short-Term Energy Outlook report. The average natural gas spot price at the benchmark Henry Hub for December 2015 was $1.93 per million British thermal units. That’s the lowest monthly average since March 1999. In the January report, the Nymex futures strip averaged $2.50/MMBtu for 2016 and $2.80/MMBtu for ...

Read More »

U.S. crude stocks probably dipped last week

U.S. crude stocks probably dipped last week

U.S. commercial crude oil stocks probably dipped last week, while distillate and gasoline stocks likely edged higher, a preliminary Reuters survey showed on Monday. The poll of five analysts, taken ahead of weekly inventory reports from industry group American Petroleum Institute (API) and the U.S. Department of Energy’s Energy Information Administration (EIA), estimated, on average, that crude stocks were down ...

Read More »

Low Gas Prices ‘Not Good For Anybody’

cD1hMDE2NDBmOTQ2MjUyMjNiY2M3YmQwZmVkZGZkMTU5MyZnPTdlNTRhMjcyN2YxYjFlMjRhMWU1NmFhNzBmMTI5ZGM1

At least 26 states, including Arkansas and Oklahoma, are paying less than $2 for a gallon of gas, and the national average is the lowest it’s been since 2009. While low gas prices are viewed largely as good for the consumer on a tight budget, the low oil prices have shuttered thousands of jobs in the United States. “It’s not ...

Read More »

Eagle Ford Shale remains bright spot, adds drilling

drilling-rig-863328_640

While the nation is experiencing a drop in the number of active oil and gas rigs, Eagle Ford Shale remains a bright spot in the industry. A Baker Hughes rig count shows that new drilling in the Eagle Ford Shale rose to 75 active rigs. New drilling fell to 225 rigs in the Permian Basin, but rose to eight in ...

Read More »

Oil prices drop after U.S. inventories rise

REUTERS/Tim Wimborne  TBW/LA -

LONDON – Crude oil prices fell on Wednesday after industry data showed an increase in U.S. stockpiles, and as analysts said U.S. output had been surprisingly resilient in the face of lower prices. Brent crude futures <LCOc1> were down 34 cents at $47.10 a barrel by 1446 GMT (09:46 a.m. ET), though they recovered from a low of $47.00 set ...

Read More »

U.S. shale oil output to fall for 8th month in December: EIA

Image: Robert Galloway via Flickr

U.S. shale production is expected to fall for an eighth consecutive month in December, according to a forecast on Monday from the U.S. Energy Information Administration (EIA). Total output is set to decline 118,000 barrels per day (bpd) in December, the biggest monthly decline on record, to 4.95 million bpd, the least since Sept. 2014, according to EIA data going ...

Read More »

U.S. refineries start to return from maintenance: Kemp

cD1hMDE2NDBmOTQ2MjUyMjNiY2M3YmQwZmVkZGZkMTU5MyZnPThjNzVkZDExZDk5YWMwN2Y5OWFhNjAyYWFhMTUxOTAw

LONDON – Total stocks of crude oil and refined products in commercial storage across the United States dropped for the second week running last week, the first back-to-back fall since May, according to the U.S. Energy Information Administration (EIA). More than 1.4 million barrels per day (bpd) of refinery capacity is still offline for routine maintenance and upgrades after the ...

Read More »