The Real Reason Big Oil Is Refusing To Boost Production
A stand-off between President Joe Biden and oil and gas producers in the Permian Basin is developing as prices continue to climb. President Biden has accused the oil and gas Continue Reading
Biden Gulf of Mexico Lease Sale Results Are In
A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids. The Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale Continue Reading
Oil Inches Higher After EIA Reports Surprise Crude Draw
Crude oil prices gained today after the Energy Information Administration reported a crude oil inventory draw of 2.1 million barrels for the week to November 12. At 433 million barrels, Continue Reading
Breakeven Price For New Oil Projects Drops In 2021
Rystad: Costs within the upstream sector have come down considerably in 2021 New oil becomes more competitive and significantly cheaper to produce Deepwater and oil sands producers have significantly lowered Continue Reading
U.S. Gulf of Mexico auction attracts pent up demand from oil drillers
The Biden administration’s auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any Continue Reading
Summary of Weekly Petroleum Data for the week ending November 12, 2021
U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending November 12, 2021 which was 32,000 barrels per day more than the previous week’s average. Continue Reading
ExxonMobil bids big in Texas shallow waters during US Gulf Lease Sale 257
Highlights Major made offers for nearly 100 offshore Texas blocks BP bulking up in Norphlet play but also remote Lloyd Ridge Small players active on shallow-water Continental Shelf ExxonMobil looks Continue Reading
Column: U.S. oil drilling likely to accelerate in 2022
U.S. shale producers have added extra drilling rigs much more slowly than during the recoveries that followed the last two oil price slumps, limiting output and helping push local prices Continue Reading
Is The U.S. Shale Patch Refusing To Pump For Political Reasons?
President Biden’s calls on OPEC to increase production were received rather negatively by the U.S. shale patch which believes it can take care of the supply problem While some observers Continue Reading
Biden Gulf of Mexico Lease Sale Results Are In
A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids. The Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale Continue Reading