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Featured Article
167InvestingEnergy data firm Genscape sold to Verisk for $364m
Gregory Meyer – Financial Times – Genscape, a US company that helped lift the curtain on opaque energy markets, is being sold...
310ExplorationTexas shale towns grapple with growth as oil-bust fears fade
ODESSA, TEXAS (Jennifer Hiller – Reuters) – In west Texas shale towns, the center of the U.S. oil boom, about 3,800 students...
244ExplorationPaths to Profitability in US Unconventionals
Article originally published by McKinsey & Company.By Jeremy Brown, Florian Christ, Tom Grace, and Sehrish Saud After years of high growth, the...
168NationalOil donors shy on Trump’s 2020 campaign, for now
James Osborne – Houston Chronicle – For decades, the U.S. oil and gas industry has provided a reliable bankroll for Republican politicians...
150ExplorationTexas well completions drop 12% through July
(Liz Hampton – Reuters) – The number of oil and gas wells in Texas readied for production fell nearly 12% in the...
203ExplorationPrivate US E&P operators finding innovative ways to lower costs: execs
Starr Spencer – SPGlobal – Houston – Private US exploration and production companies are typically smaller in resources and staff than their larger...
360ExplorationHouston energy employees are about to miss out
Erin Douglas – Houston Chronicle: Texas’ energy sector is slowing down. Energy companies’ profits profits plunged last quarter, prices for crude are stuck in...
368Oil & Gas NewsThe Beginning and End of Joint Tenancy
By Tyler Crowe– Ball Morse Lowe, PLLC. ~ Time, title, possession, ownership interest. The four elements of joint tenancy have endured throughout real property ownership...
273ExplorationThe ‘Cowboy State’ Oil Boom Is Falling Behind
By Tsvetana Paraskova for Oilprice.com – A year ago, the Powder River Basin in northeastern Wyoming was thought to be the next hot...
240ExplorationPermian players Diamondback, Pioneer, Parsley increase production, tighten spending
By Jordan Blum – Houston Chronicle – Some of the top oil producers in the booming Permian Basin reported mixed financial results...
Snippets
- Costly Saudi defences prove no match for drones, cruise missilesRIYADH/DUBAI, Sept 17 (Reuters) - Billions of dollars spent by Saudi Arabia on cutting edge Western military...RIYADH/DUBAI, Sept 17 (Reuters) - Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry.Read More
Saturday's assault on Saudi oil facilities that halved production has exposed how ill-prepared the Gulf state is to defend itself despite repeated attacks on vital assets during its four-and-a-half year foray into the war in neighboring Yemen.
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- Pioneer, Chevron Call On Industry, Others To Tackle Permian Basin FlaringFrom Hart Energy - Pressure by state officials on oil producers and pipeline companies...From Hart Energy - Pressure by state officials on oil producers and pipeline companies is likely needed to address the flaring problem in the Permian Basin, the head of a large Permian pure-play company said.Read More
Though natural gas pipelines providing additional takeaway capacity are welcomed, low natural gas prices, pipeline takeaway commitments and other economic factors remain an issue when it comes to flaring of gas, according to Pioneer Natural Resources Co. CEO Scott Sheffield.
“That’s the biggest issue we have to solve with the producers and with the pipeline companies,” Sheffield said during a recent Permian-focused event hosted by the Center for Strategic & International Studies. “And the states probably need to do a better job of putting more pressure on both groups of people, in my opinion, to solve that problem.”
Full Story - Subscription Required - Oil prices sink on report Saudi output will recover quickly MarketWatch Report: Oil futures dropped sharply on Tuesday, after registering one of...MarketWatch Report: Oil futures dropped sharply on Tuesday, after registering one of the sharpest rallies on record a day earlier, following a report that output from Saudi Arabia will be quick to recover from weekend attacks on major crude facilities which disabled more than half of the kingdom’s daily crude production level.Read More
The Saudis are close to restoring 70% of the 5.7 million barrels per day production lost after the attacks, Reuters reported, citing a top Saudi source briefed on the latest developments. The source also said output will be fully back online in the next two to three weeks.
West Texas Intermediate crude for October delivery CLV19, the U.S. benchmark contract, was down $3.78, or 6.07%, at $59.08 a barrel at 11 AM ET, after the largest daily gain for the most-active contract since Sept. 22, 2008, according to Dow Jones Market Data. WTI finished Monday’s session at its loftiest level since May 21, 2019. - Tulsa's SemGroup to be bought by Energy Transfer PartnersTULSA — Investors rushed to acquire SemGroup Corp. shares on Monday after it and Energy Transfer LP...TULSA — Investors rushed to acquire SemGroup Corp. shares on Monday after it and Energy Transfer LP announced a stock and cash merger transaction valued at about $5.1 billion before markets opened.Read More
The value of a SemGroup unit climbed by $6.22 to $16.50, up about 61% on the day.
The proposed deal, already unanimously approved by both boards, would give SemGroup unit holders $6.80 per unit, plus 0.7275 of an Energy Transfer unit — a cash and equity deal that values SemGroup at $17 a unit.
Read Full Story - US oil prices had their biggest spike in a decade after Saudi attack disrupts global supplyCNN - Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production...CNN - Oil prices spiked Monday after a devastating attack on the heart of Saudi Arabian oil production over the weekend shocked markets and could disrupt the global supply of crude for some time.Read More
US oil futures jumped 14.7%, settling at $62.90 a barrel. It was the biggest spike since January 2009. Futures of Brent crude, the global benchmark, settled up 14.6% at $69.02 a barrel.
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1.0KExplorationHe Paid $1.50 an Acre for Barren Texas Land Now Worth $7 Billion
By Austin Weinstein – Bloomberg – So much of the Texas land in the...
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458ExplorationConcho Resources to sell strip of New Mexico assets for $925 million
(Reuters) – U.S. oil and gas producer Concho Resources Inc said on Tuesday it...
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349ExplorationAnalysis: SCOOP/STACK operators scale back rig activity by 40% so far in 2019
Denver — Operators in Oklahoma’s SCOOP/STACK, once one of the hottest US onshore plays outside...
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264ExplorationExxon Mobil Eyes Oil M&A as Clean Energy Shift Seen Taking Decades
By Kevin Crowley – Bloomberg – Exxon Mobil Corp. Chief Executive Officer Darren Woods is eyeing...
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239ExplorationT. Boone Pickens, larger-than-life energy tycoon and Oklahoma State benefactor, dies at 91
By Cheryl Hall – Dallas Morning News – T. Boone Pickens, legendary energy executive, philanthropist, ardent...
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199Oil & Gas NewsU.S. shale firms cut budgets, staff as oil-price outlook dims
ODESSA, Texas (Reuters) – Oil producers and their suppliers are cutting budgets, staffs and...
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193InvestingSaudi Arabia is dramatically changing its oil exports to China and the US
Natasha Turak – CNBC – Saudi Arabia has seriously ramped up its oil exports...
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104ExplorationGE to lose majority control of Baker Hughes with up to $3 billion share sale
(Reuters) – General Electric is looking to raise up to $3 billion in sale of...
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75InvestingSaudi stock market dives, crude futures to jump after drone attack on oil plants
PUBLISHED SUN, SEP 15 2019 Natasha Turak@NATASHATURAK – CNBC KEY POINTS Saudi Arabia’s stock...
