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• 2022: Lake Mead sinks to its lowest level since 1937
  The water level at Lake Mead, America’s largest reservoir, sank in July to its lowest level...
  The water level at Lake Mead, America’s largest reservoir, sank in July to its lowest level since it was first filled in 1937. The reason? A megadrought that gave the Southwest US its driest 22 years in the last 1,200 or so. The water dipped so low in Lake Mead that at least six corpses have been found, including one that’s probably from a 1980s mob hit. And it wasn’t just Lake Mead. Diminishing water levels across the globe this year threatened economies, stalled the transport of goods, and uncovered archeological surprises.
  
  
  
  A sign marking the top of Lake Mead, now far away from the shoreline
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• First 20,000-psi Drillship Headed to GoM
  Sembcorp Marine has delivered the world’s first 20,000-psi drillship to Transocean, and the unit is...
  Sembcorp Marine has delivered the world’s first 20,000-psi drillship to Transocean, and the unit is slated to start a five-year contract with Chevron Corp. for work in the Gulf of Mexico in the second quarter of 2023.
  
  The rig, which is the second 8th-generation drillship, is based on Sembcorp Marine’s proprietary Jurong Espadon 3T design and was delivered to Transocean subsidiary Triton Titan GmBH.
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• Dallas Fed: Oil and Gas Sector Still Optimistic, Just Not as Much
  Oil and gas activity continued to grow and the sector’s executives continued to be optimistic in the...
  Oil and gas activity continued to grow and the sector’s executives continued to be optimistic in the fourth quarter, but both activity and optimism were significantly muted compared to the third quarter, the Federal Reserve Bank of Dallas reported on Dec. 29 in the release of its quarterly survey of energy companies.
  
  The biggest drag on crude oil and natural gas production growth, cited by 32% of E&P executives, is cost inflation and/or supply chain bottlenecks. A maturing asset base was the second-biggest challenge, cited by 27% of the executives.
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• EIA data shows surprise U.S. crude stock build in latest week
  U.S. crude oil inventories rose unexpectedly last week as imports climbed and exports...

  U.S. crude oil inventories rose unexpectedly last week as imports climbed and exports fell, the Energy Information Administration (EIA) said on Thursday.

  
  

  Crude stocks (USOILC=ECI) rose by 718,000 barrels in the week ended Dec. 23 to 419 million barrels, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel drop.

  
  

  Oil stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) fell by 195,000 barrels in the last week, EIA said.

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• Closing Oil & Gas Prices for Thursday
  Benchmark U.S. crude oil for February delivery...
  Benchmark U.S. crude oil for February delivery fell 56 cents to $78.40 a barrel Thursday. Brent crude for February delivery fell $1 to $82.26 a barrel.
  
  Wholesale gasoline for January delivery rose 1 cent to $2.37 a gallon. January heating oil fell 7 cents to $3.31 a gallon. February natural gas fell 15 cents to $4.56 per 1,000 cubic feet.
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