N.D.'s oil and gas production went separate ways in July
New figures from North Dakota's Department of Mineral Resources show that oil production in...
New figures from North Dakota's Department of Mineral Resources show that oil production in the state fell by 2.5% month over month to just over 1 million barrels per day in July, while natural gas output rose 1.3% to 3.1 billion cubic feet per day. Director Lynn Helms attributed the unexpected oil production decline to reduced well completion activity due to workforce shortages.
Trade shifts propel supertanker rates to 2-year high
The cost to charter an oil supertanker has surged to $50,682...
The cost to charter an oil supertanker has surged to $50,682 per day, the highest since June 2020, amid changing global crude oil trade patterns in the wake of Russia's invasion of Ukraine. "You have the disruption caused by the reorganization of European refineries importing non-Russian crude," said Okeanis Eco Tankers Corp. Chief Operating Officer Aristidis Alafouzos.
EIA: US natural gas rig count exceeds pre-pandemic levels
The number of active US natural gas rigs has increased from 112 in early 2020 to 166 as of Sept. 9, reversing...
The number of active US natural gas rigs has increased from 112 in early 2020 to 166 as of Sept. 9, reversing a downward trend observed before the coronavirus pandemic, according to the Energy Information Administration. The main driver of natural gas-directed drilling growth has been the Haynesville Shale, where the gas rig count has jumped by more than half between January 2020 and August 2022.
FedEx shares plunged more than 19% after the delivery giant ditched its earnings outoook. Often...
FedEx shares plunged more than 19% after the delivery giant ditched its earnings outoook. Often considered a bellweather stock, the sinking shipping brand fueled broader concerns of a looming downturn. Dig into the numbers here.
