Weekly Petroleum Status Report
Summary of Weekly Petroleum Data for the Week Ending March 23, 2018 U.S. crude oil refinery inputs averaged about 16.8 million barrels per day during the week ending March 23, Continue Reading
Permian mega-merger expected to save Concho on oil, gas drilling costs
Concho Resources’ $9.5 billion acquisition of rival independent oil and natural gas producer RSP Permian, announced Wednesday, will give the combined company the largest drilling program in the Permian Basin Continue Reading
Concho, RSPP to combine, create largest unconventional shale producer in Permian
Concho Resources Inc., Midland, will acquire RSP Permian Inc. (RSPP) in a $9.5-billion stock transaction to create the largest unconventional shale producer in the Permian basin. The combined company expects to run Continue Reading
Oil Falls After API Reports Major Surprise Crude Inventory Build
The American Petroleum Institute (API) has reported a major surprise build of 5.321 million barrels of U.S. crude oil inventories for the week ending March 23, with the market expected Continue Reading
India’s Reliance Sells Texas Shale Assets For $100MM
Reliance Industries Ltd said on Tuesday its unit would sell some of its shale assets in the United States to privately held Sundance Energy Inc for $100 million, as the Continue Reading
Mexico takes aim at its section of the Eagle Ford shale
The state energy company in Mexico said it signed on with a partner to help extract natural gas from the Eagle Ford shale reservoir in the country. Petróleos Mexicanos, known Continue Reading
Permian Drillers Prepare For Double-Digit Cost Jump
U.S. shale companies expect a double-digit cost increase in services across the oil patch, and the Permian in particular, as the industry recovered from the downturn and is now growing Continue Reading
Offshore Oil Closes In On Shale
Offshore crude oil extraction, including deepwater, is closing in on shale in terms of cost thanks to new production technologies, a senior Chevron executive said at an industry event, as Continue Reading
For Some Wounded US Drillers, the Oil Rout Never Ended
More than a year after exiting bankruptcy, SandRidge Energy Inc. is stuck in stock-market purgatory. The oil and gas explorer has seen its stock sink 37 percent since October 2016, Continue Reading
Oil’s Seven Sisters Enter a ‘Golden Age’, Goldman Sachs Says
Big Oil’s weight in equity indices to rise from 50-year low Cost cuts, recovering oil prices put companies in a sweet spot The world’s largest oil companies have survived a Continue Reading