The recent chaos in the Red Sea, primarily due to attacks by Iran-backed Houthi rebels, has significantly disrupted international oil shipping routes....
In a move set to redefine the landscape of the U.S. natural gas industry, Southwestern Energy and Chesapeake Energy are on the...
As we step into 2024, the natural gas market presents a complex landscape shaped by high production levels, robust storage volumes, and...
In 2023, Russian energy giant Gazprom announced a significant increase in its natural gas supplies to China via the Power of Siberia...
Chevron Corporation (CVX.N), a major U.S. oil company, announced on Tuesday that it is facing significant non-cash writedowns, primarily impacting its oil...
Mach Natural Resources LP, a prominent player in the oil and gas industry, recently finalized the acquisition of various oil and gas...
New Mexico’s Environment Department has taken a significant step towards sustainable water management by proposing a new set of regulations focusing on...
By: S&P Global – The gas and LNG sectors are calmer after an annus horribilis that threatened to derail the very functioning...
Jon Clark, a former economist to the Legislature and current state cabinet secretary, was appointed on Wednesday to manage New Mexico’s substantial...
In a notable move, Houston-based Battalion Oil announced on December 15 its plan to merge with Fury Resources in a $450 million...
U.S. energy firms cut the number of active oil and gas rigs for a third consecutive week, reducing the total by four to 576 as of January 24, the lowest since December 2021, according to Baker Hughes. The rig count is now down 45 rigs, or 7%, from the same time last year.
Oil rigs dropped by six to 472, while gas rigs rose by one to 99. In the Permian Basin, the nation’s largest oil-producing shale region, the rig count fell by six to 298, the lowest since February 2022 and the largest weekly decline since August 2023.
The rig count has declined by 5% in 2024 and 20% in 2023 as lower oil and gas prices pushed energy firms to prioritize debt reduction and shareholder returns over production growth.
Despite potential further declines in crude prices, the EIA projects U.S. crude output will rise from 13.2 million barrels per day (bpd) in 2024 to 13.6 million bpd in 2025. On the gas side, a projected 43% increase in spot gas prices in 2025 is expected to spur higher drilling activity, reversing recent declines. The EIA forecasts gas production will rise to 104.5 billion cubic feet per day (bcfd) in 2025, up from 103.1 bcfd in 2024 and a record 103.6 bcfd in 2023.
Oil futures tallied their first weekly loss in five weeks on Friday as recent comments from President Donald Trump suggested he would pressure major oil producers to boost crude output.
Prices, however, ended slightly higher for the trading session, a day after settling at their lowest in two weeks, as traders continued to weigh uncertainty surrounding the president’s energy policies.
The U.S. stock market closed lower Friday as the technology sector slumped, but all three major benchmarks booked weekly gains after President Donald Trump returned to the White House.
The Dow Jones fell 0.3% Friday, while the S&P 500 shed 0.3% and the tech-heavy Nasdaq Composite dropped 0.5%, according to preliminary data from FactSet. All three indexes booked back-to-back weekly gains, following Trump’s inauguration on Monday.
For the week, the Dow rose 2.2%, the S&P gained 1.7% and the Nasdaq climbed 1.7%, the preliminary data show.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
Trying to catch up in oil and gas production is difficult enough. It becomes...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
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