Surge of New Permian Basin Oil to Feed Global Supply
Exports of the Permian Basin’s newest kind of oil are set to jump as production surges, exceeding the appetite of U.S. refiners. Sales of the new grade, known as West Continue Reading
US oil and gas rig count falls by six on the week to 1,065: Platts Analytics
Houston — The US oil and natural gas rig count fell by six to 1,065 week on week Thursday, continuing a steady decrease that has been a trend for the Continue Reading
Howard Energy Completes Permian Growth Projects
San Antonio, TX-based Howard Energy has completed several midstream infrastructure projects in the Permian Basin’s Delaware Basin. Howard Energy Partners (HEP) has completed construction on its crude oil and natural Continue Reading
US oil: Occidental’s $56bn gamble on finding value in shale
When Vicki Hollub stood up to speak at Occidental Petroleum’s annual meeting last Friday, she knew she was facing a skeptical audience. After three years as chief executive, she had Continue Reading
Surge of New Permian Basin Oil to Feed Global Supply
Exports of the Permian Basin’s newest kind of oil are set to jump as production surges, exceeding the appetite of U.S. refiners. Sales of the new grade, known as West Continue Reading
U.S. crude stockpiles rise unexpectedly to highest since 2017: EIA
U.S. crude oil stockpiles rose unexpectedly last week, climbing to their highest since 2017 amid a release from the national emergency reserve, while gasoline inventories decreased more than forecast, the Continue Reading
North Dakota oil output totals 1.39 million b/d in March, up 4% on month: state
North Dakota oil production in March totaled 1.39 million b/d, up 4% from February but still below the all-time high earlier in the year, the state’s Department of Mineral Resources Continue Reading
Schlumberger in $400MM Deal to Sell Drilling Assets
Schlumberger is divesting non-core drilling assets to Wellbore Integrity Solutions for $400 million. Schlumberger is selling its businesses and associated assets of DRILCO, Thomas Tools and Fishing & Remedial services Continue Reading
Rising U.S. oil output helping fill gap left by Iran, Venezuela: IEA
The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency said on Continue Reading
ConocoPhillips will not chase expensive Permian deals, CEO says
ConocoPhillips Chief Executive Officer Ryan Lance on Tuesday repeated a pledge to restrain spending, saying the U.S. oil producer would not be drawn into pricey mergers and acquisitions. ConocoPhillips plans Continue Reading