By: Idaho Capital Sun – Members of the U.S. Senate Energy and Natural Resources Committee used a Tuesday hearing on the Interior...
DUBAI, May 3 (Reuters) – Iran seized a second oil tanker in a week on Wednesday in Gulf waters, the U.S. Navy...
By: KOSU – Rep. Mark McBride, R-Moore, authored House Bill 2561, which exempts the natural gas industry from the rule. He said...
Story By Irina Slav for Oilprice.com. The end of oil and gas is nigh. In a decade or so, demand will begin...
Story by Andreas Exarheas | RigZone. For the most part, oil and gas professionals are not worried about artificial intelligence (AI). That’s according...
Story by Nissa Darbonne|Oil and Gas Investor. OPEC members hope their 1.16-MMbbl/d cut will get Brent to more than $90, said Scott...
By: CNBC – BP is bracing itself for a shareholder revolt at its annual general meeting on Thursday — some of the...
Despite the 70% drop in the spot price of natural gas over the past year, industry leaders remain optimistic about the future....
By: CNBC – A surprise decision by several OPEC+ producers to voluntarily cut output earlier this month had pushed analyst oil price...
By: Reuters – Russian Deputy Prime Alexander Novak said on Thursday the OPEC+ group of leading oil producers saw no need for...
U.S. energy firms kept the combined land rig count steady at 589 for the week ending December 13, unchanged from the prior week but still down 34 rigs, or 5%, compared to last year, according to Baker Hughes. Oil rigs remained at 482, while gas rigs rose by one to 103, their highest since July. The miscellaneous rig count was down 1.
In South Texas’ Eagle Ford shale, drillers cut two rigs, lowering the basin’s count to 46, the lowest since January 2022.
The rig count dropped 20% in 2023, reversing gains of 33% in 2022 and 67% in 2021, amid weaker energy prices, inflation-driven costs, and a corporate focus on financial discipline over production growth.
U.S. crude output is projected to rise from 12.9 million barrels per day (bpd) in 2023 to 13.2 million bpd in 2024 and 13.5 million bpd in 2025, per the EIA. Meanwhile, natural gas output is expected to decline to 103.2 billion cubic feet per day (bcfd) in 2024 from 2023’s record 103.8 bcfd, as reduced drilling activity begins to impact supply.
Oil futures are down 1% in 2024, while gas futures are up 30% after last year’s steep losses.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
Trying to catch up in oil and gas production is difficult enough. It becomes...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
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