OilPrice.Com. There is considerable speculation that the end is drawing close for Colombia’s economically vital hydrocarbon sector. The Andean country’s petroleum industry...
Story By Jeffry Bartash, MarketWatch. Senior officials at the Federal Reserve, or Fed, expect smaller increases in interest rates will “soon be...
By: CNBC – Oxfam on Monday filed shareholder resolutions against U.S. oil giants Exxon Mobil, Chevron, and ConocoPhillips, saying a lack of transparency over their...
Story by Justin Jacobs, Financial Times. BP’s U.S. boss said Washington’s new climate law would put its green plans in the U.S....
By: Barrons – Germany will have to take on more debt than expected in 2023 to combat an energy crisis that has...
By: Reuters – Oilfield services provider Petrofac Ltd (PFC.L) said on Tuesday that Sami Iskander would step down as chief executive officer...
By: FT – Saad al-Kaabi, Qatar’s energy minister and chief executive of its national oil and gas group, has crisscrossed the globe...
HART ENERGY. MIDLAND, Texas—Double Eagle Energy has amassed almost a couple billion in equity commitments for its Double Eagle IV strategic partnership...
By: The National Observer – Canada won’t agree to add language calling for the phaseout of all fossil fuels – including oil...
By: WP – Iron Horse Midstream has announced its plans to construct a new, 200 million ft3/d gas cryogenic processing plant on...
The energy sector is off to a lower start, reeling amid weakness in both the crude complex and broader equity futures. With the benchmark indices hovering around fresh record highs, investors are stepping back this morning as they digest a wave of corporate earnings and ahead of the Fed’s policy announcement tomorrow.
Traders are also reacting to headlines that Saudi Aramco halted their production capacity expansion plans, driving the OFS sharply lower ahead of the bell.
WTI and Brent crude oil futures extended yesterday’s declines into the new session, pressured by lingering concerns over the potential fallout of China's Evergrande being liquidated and reports OPEC+ export data suggests a sluggish start to supply cuts being made. The markets are also positioning themselves ahead of this week’s OPEC+ meeting and while expectations are low that the group will make a decision on oil policy for April, analysts are hoping it could still shed some light on production plans. Aramco, in an indication of the future demand outlook, said it had received a directive from the energy ministry to maintain its maximum sustainable capacity at 12 million barrels a day, and not to continue increasing it to 13 million barrels per day. Meanwhile, Washington vowed to take "all necessary actions" to defend its troops following a deadly drone attack in Jordan by Iran-backed militants, the first U.S. military deaths since the Israel-Gaza war began, putting markets on edge.
On the first day of trading as the front month contract, March natural gas futures are up over 1.5% in early trading, bouncing off yesterday’s sharp pullback. Warmer weather forecasts and continued outages at the Freeport LNG export plant continued to dampen sentiment.
Permian Resources said Jan. 30 it acquired more Delaware Basin acreage in two bolt-on acquisitions and an acreage swap.
The Midland producer executed two separate transactions to acquire 11,500 net leasehold acres and 4,000 net royalty acres in Eddy County, New Mexico for about $175 million.
During Q1 2024, Permian Resources also completed an acreage trade, further reinforcing its position in Lea County, New Mexico.
The company traded into approximately 2,000 net acres with “increased working interest” adjacent to its current position. The company also traded out of approximately 2,000 net acres of non-operated acreage and “lower working interest” operated acreage.
Permian Resources says it expects to begin development on the newly acquired acreage in 2024.
As Chevron Corp markets its Duvernay shale assets, the U.S. oil major is most likely to find a buyer among a handful of mid-sized Canadian firms that are boosting investment in a region that has yet to fulfill its potential, analysts say.
The play is situated in west-central Alberta and currently produces nearly 200,000 barrels of oil equivalent per day (boepd), according to consultancy Wood Mackenzie. It is much smaller than the nearby Montney shale play and the major U.S. plays like the Permian.
Chevron's Duvernay assets could fetch up to $900 million, Houston-based advisory firm Energy Advisors Group estimates.
By Adam Smeltz | UNIVERSITY PARK, Pa. – Oil produced from shale reservoirs drove...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Key Highlights Global oil inventories are expected to grow more than 2 million b/d...
By Andreas Exarheas | RigZone.com |The U.S. Energy Information Administration (EIA) cut its West...
The race to lower costs and accelerate production timelines in the Permian Basin has...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
The U.S. Geological Survey has released a fresh look at the Phosphoria Total Petroleum...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
US crude inventories drop by 6 million barrels, exceeding forecasts Uncertainty over Ukraine peace...
Chevron’s acquisition of Hess closed in July after months of arbitration and integration planning,...
Mergers and acquisitions in the U.S. oil and gas sector surged in 2024, more...
By Clyde Russell (Reuters) – There are early signs that some Asian countries are...
Have your oil & gas questions answered by industry experts.