IEA: Permian, Bakken, Eagle Ford Hit Record NGL Production
Associated light, tight oil production in the Permian Basin,...
Associated light, tight oil production in the Permian Basin, Eagle Ford Shale and Bakken was the main driver in NGL hitting a record high of 6.4 MMbbl/d in April, according to the International Energy Agency’s (IEA) July Oil Market Report.
U.S. NGL production was so substantial, it ranked as the fourth largest liquids producer globally.
The report says that U.S. tight oil accounted for 780,000 bbl/d of 2023 gains and represented 94% of the growth in U.S. crude. The U.S. NGL production surge drove propane pricing down to a level competitive with petrochemical feedstock ethane.
The Women’s World Cup begins: American soccer fans are preparing for early morning...
The Women’s World Cup begins: American soccer fans are preparing for early morning wake-ups as the Women’s World Cup kicks off in Australia and New Zealand on Thursday. The youthful US squad plays their first match on Friday in their quest for a third-straight trophy.
Golf’s British Open tees off on Thursday at Royal Liverpool in Merseyside, England. Make it happen, Rory.
San Diego Comic-Constarts Thursday, but the festivities will be scaled down due to the Hollywood walkouts.
At least five people died on Sunday morning in Bucks County, PA, after an estimated 6–7 inches of rain fell in less than 45 minutes, sparking flash floods. As downpours drenched the Northeast and canceled flights, a record-breaking heat wavepeaked in the US South and West, but temps will remain sizzling throughout this week. In Southern Europe, a dangerous “heat storm” forced the Acropolis in Athens to close for a second day, and over a dozen Italian citiesissued heat advisories. This storm is named Charon after the ferryman of the dead in Greek mythology.
Futures are flat to negative following a week that showed our inflation emergency seems to be ending,...
Futures are flat to negative following a week that showed our inflation emergency seems to be ending, and big banks are still raking in big profits. The Fed’s so-called “soft landing” scenario—getting inflation down without tipping the economy into a recession—is a distinct possibility, as long as corporate finances don’t end up being shockingly bad this earnings season. CNBC
Issuance of new drilling permits takes a dive in California
New drilling permits issued by California's Geologic Energy Management Division have plummeted to seven...
New drilling permits issued by California's Geologic Energy Management Division have plummeted to seven so far in 2023, compared to over 200 during the same period last year, even as the backlog of new drilling permit applications exceeds 1,400. The agency is prioritizing applications to permanently close wells, in line with the state's plan to end oil drilling by 2045.
