By: Trent Jacobs – Journal of Petroleum Technology – Facing crippling crude prices and a historic supply overhang, the once-booming US shale sector...
CNBC – An unprecedented collapse in oil demand has forced some producers to come up with “creative” measures in order to find...
Denver Post – Colorado will delay hearings on a major revamp of its oil and gas regulations by several weeks, even as...
David Blackmon – Forbes – With news this morning that Chesapeake Energy is preparing to file for bankruptcy, The Texas Railroad Commission (RRC) will...
Matt Levine – Bloomberg – It will be a little weird if the price of oil goes negative next month. I mean,...
Forbes – At the start of the year, even before big oil and gas companies were clobbered by the global coronavirus or...
The first crude oil had actually been discovered by the Chinese in 600 B.C. and transported in pipelines made from bamboo. However,...
By: Ari Natter – Bloomberg – The oil and gas industry shed nearly 51,000 drilling and refining jobs in March, a 9%...
By: Kenneth Rapoza – Forbes – Sorry, Greta. Sorry, Extinction Rebellion. We haven’t seen the end of the oil industry yet. The...
By: Jordan Fabian and Jennifer A. Dlouhy – Bloomberg – President Donald Trump said his administration is working on a plan to...
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.
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Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
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(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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