Story Credit: Will Peischel. New York Times. A century after oil barons scoured Texas for prime plots from which to extract black...
OilPrice.com. Chesapeake Energy will be slowing drilling for 2023 amid a sustained plunge in natural gas prices, with other operators following suit...
Story by Business Insider |Natalie Musumeci | Pro-Kremlin Russian pundits are furious over US President Joe Biden’s surprise trip to Ukraine’s capital...
By – ABC13 – Billy Joe “Red” McCombs, a San Antonio businessman who started as a car salesman and grew an empire...
By – Reuters – Oil prices rose over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major...
By: Forbes – Ahead of Arsenal’s home game against Brentford the Clock End at the Emirates Stadium unfurled a black banner with...
REUTERS. At least three proposed U.S. LNG export plants have likely found enough customers to receive financial approvals this year, according to...
By: Reuters – Russia’s decision to cut its crude oil production by 500,000 barrels per day reflects its inability to sell all...
Bernd Debusmann Jr – BBC News. A public meeting that was meant to ease fears about a toxic chemical train spill in...
By: Diana Furchtgott-Roth – Forbes – Pipelines are the safest way to transport oil and natural gas because the pipeline stays still...
Israel on Sunday launched its heaviest wave of attacks on Gaza since a fragile cease-fire took hold a week ago and said it was suspending humanitarian aid to the territory after accusing Hamas of firing on its forces and violating the truce.
Israel said two of its soldiers were killed in combat in Gaza on Sunday. Gaza’s health ministry initially reported 14 Palestinian deaths across Gaza on Sunday.
Both Israel and Hamas have now accused each other of violating the truce after repeated flare-ups of violence over the past three days. But both made clear on Sunday that they were still committed to maintaining the truce.
The transfer of aid into Gaza has been halted until further notice, according to two Israeli officials who requested anonymity to discuss sensitive issues.
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Oct. 17.
The total oil and gas rig count, an early indicator of future output, rose by one to 548 in the week to Oct. 17.
Despite this week’s rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year.
Baker Hughes said oil rigs held steady at 418 this week, while gas rigs rose by one to 121, their highest since August.
In the Gulf of Mexico, Baker Hughes said the rig count fell by two this week to eight, the lowest since September 2021.
In Texas, the biggest oil and gas-producing state, the rig count dropped by one to 237, the lowest since September 2021.
In Wyoming, the rig count fell by one to 12, the lowest since August 2024.
In Colorado, meanwhile, the rig count rose by one to 15, the highest since April 2024. Oklahoma gained two rigs to 42.
The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices over the past couple of years prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output.
Around 20 independent exploration and production companies tracked by U.S. financial services firm TD Cowen said they planned to cut capital expenditures by about 4% in 2025 from 2024 levels.
That compares with roughly flat year-over-year spending in 2024, increases of 27% in 2023, 40% in 2022, and 4% in 2021.
U.S. stocks closed higher Friday, with all three major benchmarks booking weekly gains as investors shook off concerns about credit losses at regional banks and trade tensions.
The Dow Jones Industrial Average increased 0.5%, while the S&P 500 gained 0.5% and the technology-heavy Nasdaq Composite climbed 0.5%, according to preliminary data from FactSet.
For the week, the Dow rose 1.6%, the S&P 500 advanced 1.7%, and the Nasdaq gained 2.1%, according to preliminary data.
The Yates Oil Field, located in the heart of the Permian Basin, remains one...
Whether the weakness persists will show up first in structure and stocks: if spreads...
Ukraine’s ongoing drone campaign has become a major headache for Moscow, targeting one of...
Operators across the Lower 48 are entering a pivotal new phase of development, where...
The Oklahoma House Energy Committee recently took a hard look at how the Oklahoma...
Algeria has taken another major step to revitalize its oil and gas sector, signing...
OPEC+’s production hikes have been a tool to both punish countries that were overproducing...
In a rare win for both production and environmental performance, a new analysis by...
Despite years of glossy sustainability campaigns and promises to lead the energy transition, the...
by Andreas Exarheas|Rigzone Staff |RigZone.com |Executives from oil and gas firms have revealed their expectations...
By Irina Slav for Oilprice.com | The amount of oil on tankers in transit...
Story By Charles Kennedy |OilPrice.com| Texas’ inventory of orphaned oil and gas wells has...
Have your oil & gas questions answered by industry experts.