Oil executives testify in "Gouged at the Gas Station" House hearing
Wednesday's hearing called executives from Exxon (XOM),...
Wednesday's hearing called executives from Exxon (XOM), Shell (SHEL), BP (BP), Chevron (CVX), Devon (DVN) and Pioneer (PXD) to testify on the topic of high US gasoline prices. Unfortunately, the majority of the hearing was consumed by less-than-productive prepared remarks; however, a few comments could be of use to energy investors...READ STORY
Oil Prices Fall. The Market’s Focus Could Be Shifting.
BARRON'S-The story in commodity markets may be changing, at least for now, as doubts...
BARRON'S-The story in commodity markets may be changing, at least for now, as doubts about demand offset worry over supplies.
Oil prices have been rising in response to expectations that sanctions to punish Russia over its invasion of Ukraine will leave less crude available on the international market. The price of crude was soaring, adding to concern about inflation, even before Russia, the world’s biggest oil exporter, attacked its neighbor on Feb. 24. It rose further in response.
Now, efforts to rein in the price, plus a combination of other factors, may be having an effect. The price of Brent oil, the main benchmark grade internationally, has fallen six of the past eight sessions, with a drop of $5.57 per barrel, or 5.2%, to $101.07 on Wednesday.
West Texas Intermediate, the main U.S. grade of crude, lost $5.73 per barrel, or 5.6% to $96.23, also marking its sixth drop in eight trading days.
Evolution Petroleum Closes $26 Million Acquisition of Natgas Assets in Wyoming’s Jonah Field
Evolution Petroleum closed its acquisition of assets in Wyoming’s Jonah Field...
Evolution Petroleum closed its acquisition of assets in Wyoming’s Jonah Field from privately-owned Exaro Energy III LLC for a net purchase price of $26.2 million, the Houston-based company said April 4.
The Jonah Field acquisition will increase pro forma net daily production by 37% to roughly 8,000 boe/d and add about 38 Bcfe of natural gas of long-life PDP reserves to Evolution Petroleum’s portfolio.
Today, I offered a contract drilling hand $424,000 for a 6 month job, and he turned it down. The oilfield is officially back. This is not a joke. #EFT#OOTT
U.S. Natural gas futures are up by more than 5% (+25 cents at...
U.S. Natural gas futures are up by more than 5% (+25 cents at $6.28)as Western nations are set to announce sanctions on Russian gas supplies which will keep U.S. LNG exports near record highs, outweighing forecasts for mild weather and lower heating demand in key consuming regions.
