Data compiled by Evercore ISI show the number of permits issued...
Data compiled by Evercore ISI show the number of permits issued for new oil and natural gas wellsacross the lower 48 US states dropped by 3,106 month over month in August, but was 27% higher than August 2021 levels. Permitting activity declined most in the Haynesville Shale and the Permian Basin, by 63% and 25%, respectively, while the Powder River Basin was the only major play to record gains.
Steel Reef Infrastructure has acquired the Bison Midstream natural gas gathering system in northwestern...
Steel Reef Infrastructure has acquired the Bison Midstream natural gas gathering system in northwestern North Dakota from Summit Midstream Holdings in an all-cash deal worth $40 million. The sale comes as Summit Midstream shifts focus to growing its crude oil and produced water gathering systems in North Dakota's Williston Basin.
US oil prices will trade in the $80 to $100 per barrel range in 2023, but global oil stockpiles are largely...
US oil prices will trade in the $80 to $100 per barrel range in 2023, but global oil stockpiles are largely expected to remain tight and supply chain and inflationary pressures will likely continue to hamper fossil fuel production, according to investors surveyed by Barclays at its CEO Energy & Power Conference. A little more than half of the survey respondents projected US oil production growth of 500,000 barrels per day to 700,000 bpd between the fourth quarter of 2022 and the same period of 2023.
A third, outsized rate hike is an unprecedented move by the Federal Reserve. But extraordinary...
A third, outsized rate hike is an unprecedented move by the Federal Reserve. But extraordinary inflation calls for extraordinary measures.
August's hot Consumer Price Index report dashed hopes that the Fed could soon ease up on its hawkish policy, and Jerome Powell has reiterated his commitment to getting prices under control as inflation remains 8.3% higher than a year ago.
The American Petroleum Institute (API) reported a build this week for crude oil of 1.035 million barrels,...
The American Petroleum Institute (API) reported a build this week for crude oil of 1.035 million barrels, while analysts predicted a bigger build of 2.321 million barrels.
In the week prior, the API reported a build in crude oil inventories of 6.035 million barrels after analysts had predicted a draw of 200,000 barrels.
The API reported a build in gasoline inventories this week of 3.225 million barrels for the week ending September 16, compared to the previous week's 3.23 million-barrel draw. Distillate stocks saw a build of 1.538 million barrels for the week, on top of last week's 1.75-million-barrel increase.
Cushing inventories were up by 510,000 barrels this week. Last week, the API saw a Cushing increase of 101,000 barrels. Official EIA Cushing inventory for the week ending September 9 was 24.648 million barrels, down from 24.783 million barrels in the prior week.
