Chevron's Gulf of Mexico Anchor Project Begins Production
Chevron announced on Aug. 12 that it has started...
Chevron announced on Aug. 12 that it has started producing oil and natural gas from the Anchor project in the deepwater Gulf of Mexico.
Anchor production marks the successful delivery of high-pressure technology rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level, Chevon said in a press release. The $5.7 billion project reached its final investment decision in 2019.
The Anchor semisubmersible floating production unit (FPU) has a gross design capacity of 75,000 bbl/d of oil and 28 MMcf/d of natural gas.
Gasoline prices take another slip downward in Oklahoma
U.S. gasoline prices slipped three cents in the past week to a new national...
U.S. gasoline prices slipped three cents in the past week to a new national average of $3.44 per gallon, while Oklahoma prices fell by three cents to $3.04 per gallon.
Motorists might remember that Oklahoma’s average was $3.15 a month ago. What is surprising is that the cheapest gasoline prices are in Oklahoma-the Panhandle.
According to AAA, Cimarron County, the far western county in the Panhandle, has an average price of $2.75 per gallon. Coal County in the southeast continued with the highest average price of $3.63 per gallon.
Oklahoma City’s average slipped a penny to $3.06. Tulsa’s average dropped 8 cents to $2.94 per gallon, and Lawton’s average declined one cent to $2.93 per gallon.
A pivotal week for cease-fire talks: US, Qatari, and...
A pivotal week for cease-fire talks: US, Qatari, and Egyptian mediators have set Thursday for a final round of negotiations between Israel and Hamas for a cease-fire in Gaza, though Hamas yesterday said it rejected the countries’ invitation for several reasons, including Israel’s assassination of Hamas leader Ismail Haniyeh. On Saturday, Israel drew international condemnation for a strike on a school that killed at least 80 people. Israel said it was targeting a Hamas “command and control center” and that 19 militants had been killed in the strike.
Susan Wojcicki, a longtime Google exec who ran YouTube, died at 56 after living with lung cancer for two years.
Ukrainian forces have pushed 30km inside Russia, Moscow said, in their most extensive incursion into Russian territory since Vladimir Putin invaded in 2022.
The US has offered to pardon Venezuelan President Nicolás Maduro in exchange for him acknowledging he lost the country’s election last month and leaving office in January, per the WSJ.
Rig Count Revival: Tracking the Latest Trends in U.S. Energy
According to Baker Hughes ' report on Friday, U.S. energy firms added...
According to Baker Hughes ' report on Friday, U.S. energy firms added oil and natural gas rigs for the third time in four weeks. The total oil and gas rig count increased by two to 588 in the week ending August 9. Despite this increase, the total count is still 66 rigs, or 10%, below the count from the same time last year.
Specifically, the number of oil rigs rose by three to 485, while gas rigs decreased by one to 97. The overall rig count dropped by about 20% in 2023, following a 33% increase in 2022 and a 67% rise in 2021. This decline was attributed to falling oil and gas prices, higher labor and equipment costs due to inflation, and companies prioritizing debt reduction and shareholder returns over increasing output.
In terms of market trends, U.S. oil futures have risen by about 7% so far in 2024 after an 11% drop in 2023, while U.S. gas futures have declined by approximately 15% so far in 2024 following a 44% plunge in 2023.
