Occidental’s proposed Anadarko deal would put the company alongside ConocoPhillips in a peer group of two as a super-independent. Occidental Petroleum’s proposed Anadarko Petroleum deal would put the company alongside Continue Reading
Following the news that Chevron had agreed to pay a nearly 40 percent premium to acquire Anadarko Petroleum, investors quickly bid up the shares of other potential acquisition targets. As Continue Reading
Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 Continue Reading
U.S. crude oil stockpiles rose last week to their highest in about a year and a half as imports increased, even as refiners sharply ramped up output ahead of the Continue Reading
Occidental Petroleum Corp. offered to buy Anadarko Petroleum Corp. for $38 billion, launching a potential bidding war for a company that agreed earlier this month to be purchased by Chevron Continue Reading
Summary of Weekly Petroleum Data for the week ending April 19, 2019 U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending April 19, 2019, Continue Reading
A month after unveiling plans to divest assets in Malaysia, Murphy Oil Co. is sharpening its focus on the deepwater Gulf of Mexico. A month after unveiling plans to divest Continue Reading
Assets in the Permian Basin are the US oil industry’s equivalent of the Iron Throne in the TV show Game of Thrones: they are the prize that everyone covets. Occidental Continue Reading
Global oil markets are adequately supplied with “comfortable” levels of spare production capacity, according to the International Energy Agency, ahead of US moves to tighten its oil sanctions on Iran Continue Reading
The American Petroleum Institute (API) reported a build in crude oil inventory of 6.86 million barrels for the week ending April 19, coming in over analyst expectations of a 167,000-barrel Continue Reading
Halliburton said that the market for oilfield services had reached a bottom and was poised for a rebound, a statement that initially led to a jump in its share price. Continue Reading
Regina Mayor, global sector head of energy and natural resources for KPMG, gives her view on the Permian. The Permian is not played out, according to Regina Mayor, global sector Continue Reading
After a decade of the American fracking industry burning through hundreds of billions of dollars more than it earned, this industry previously dominated by shale drilling specialists is entering a Continue Reading
If you think the carnage taking place in the shale oil companies is nearly over, you couldn’t be more wrong. I believe the bloodbath in the shale oil stocks has Continue Reading
The era of oil is coming to an end, with global oil production set to halve in the next five to six years. To avoid a global economic slump, the Continue Reading
Two new projects to enhance the local Permian crude gathering and trunk line infrastructure were announced earlier this week, which could help bolster Permian crude prices by expanding takeaway capacity. Continue Reading
Crude shipments from Iraq plummeted and congestion plagued a main waterway weeks after a fire and chemical spill at the Intercontinental Terminals Co. tank farm. (Bloomberg) — The U.S. Gulf Continue Reading
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country’s largest oil fields, Continue Reading
Investment in the US shale oil industry continues to fall, production growth is slowing and the balance of spending is shifting to other parts of the world, the oilfield services Continue Reading
The the number of active oil and gas rigs fell sharply in the United States this week according to Baker Hughes, bringing the overall rig count below year-ago levels in Continue Reading
The US total oil and natural gas rig count fell by 14 week on week to 1,076, according to S&P Global Platts Analytics, continuing a recent see-saw despite domestic oil Continue Reading
A unit of Surge Energy US Holdings Co. has reportedly drilled a record-setting lateral in the Permian Basin. Moss Creek Resources Holdings, Inc., a unit of Surge Energy US Holdings Continue Reading
The company sees growth in the shallow-water markets, followed by an expansion in deepwater spend in 2020. (Bloomberg) — Schlumberger Ltd. said parts of its international business are finally starting Continue Reading
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country’s largest oil fields, Continue Reading
Oilfield services provider Schlumberger NV on Thursday forecast rising international and offshore exploration spending this year, after posting a 20 percent drop in first-quarter profit due to weak North American Continue Reading
The world’s largest oilfield services company said its earnings were hit in the first quarter because of a slowdown in shale drilling activity. “First-quarter revenue of $7.9 billion declined 4% Continue Reading
Imports of crude oil to the U.S. Gulf Coast dived to their lowest level in almost three decades last week, due to OPEC’s production cuts, unusually low Iraqi shipments, and Continue Reading
U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday. Crude inventories fell Continue Reading
U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending April 12, 2019, which was 22,000 barrels per day less than the previous week’s average. Continue Reading
The U.S. shale boom is upending global oil markets as far as crude flows from West Africa to Europe and other parts of the world, and is squeezing in particular Continue Reading
South Carolina’s Republican-majority Senate advanced a measure on Wednesday that would require the state to block new infrastructure to transport or process offshore oil and gas as state lawmakers fear Continue Reading
Democratic Colorado Governor Jared Polis declared an end to the “oil and gas wars” in the state Tuesday after he signed into law legislation giving local governments more control over Continue Reading
Exxon Mobil said Tuesday, March 5, 2019, that as soon as 2024 it expects to produce the equivalent of more than 1 million barrels of oil per day in the Continue Reading
Crude oil production from the seven key shale regions in the United States is expected to increase by 80,000 bpd from April to hit a record 8.46 million bpd in Continue Reading
The axiom, bigger is better may not apply to everything in Texas. For one thing, the Permian Basin is cranking out so much natural gas that producers are burning it Continue Reading
U.S. crude oil output from seven major shale formations is expected to rise by about 80,000 barrels per day (bpd) in May to a record 8.46 million bpd, the U.S. Continue Reading
Two years ago, investors handed veteran oilman Jim Hackett a $1 billion check and sent him to seek riches in shale drilling. Today, the company he founded with their money, Continue Reading
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil Continue Reading
NEW YORK (Reuters) – U.S. crude oil output from seven major shale formations is expected to rise by about 80,000 barrels per day (bpd) in May to a record 8.46 Continue Reading
Late last week, Chevron announced its decision to takeover Anadarko Petroleum for $33 billion, a deal that could mark a watershed moment for the Permian basin and the U.S. shale Continue Reading
The lack of natural gas pipelines from the booming Permian Basin will hinder oil producers in the region at least deep into 2020, according to a new report from Moody’s Continue Reading
Last week Saudi Aramco — the national oil company of Saudi Arabia and the world’s largest oil company — lifted a veil of secrecy around the company’s operations. For the Continue Reading
Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its Continue Reading
Chevron Corp. has agreed to buy Anadarko Petroleum Corp. in a $33 billion deal that expands its shale-drilling ambitions and places it just behind Exxon Mobil Corp. as one of Continue Reading
The U.S. crude oil production juggernaut continues to move forward. In 2018, U.S. production increased 17 percent over the previous year in a dynamic that is impacting both geopolitics as Continue Reading
Chevron Corporation said on Friday that it had entered into a definitive agreement to buy Anadarko Petroleum Corporation in a stock and cash transaction valued at US$33 billion that will Continue Reading
The nation added two oil rigs and dropped five gas rigs. Coming off a week of adding 19 oil and gas rigs , and the first rig increase in seven Continue Reading
Chevron Corp. has agreed to buy Anadarko Petroleum Corp. in a $33 billion deal that expands its shale-drilling ambitions and places it just behind Exxon Mobil Corp. as one of Continue Reading
The the number of active oil and gas rigs fell in the United States this week according to Baker Hughes. The total number of active oil and gas drilling rigs Continue Reading
The very low natural gas prices in the Permian are dragging down exploration and production (E&P) investment returns in the most prolific U.S. shale oil basin, Moody’s Investors Service said Continue Reading
