U.S. Shale Pre-Hedge Revenues Set To Hit All-Time High In 2021
The US shale industry is set to achieve a significant milestone in 2021: If WTI futures continue their strong run and average at $60 per barrel this year and natural Continue Reading
New Mexico’s Oil And Gas Royalties Hit Record
New Mexico raked in its highest ever royalty amount from oil and gas leases in April, according to the NM’s State Land Office. The previous record high royalty payments from Continue Reading
U.S. Rig Count Increases To 440 Rigs
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 440. In Continue Reading
M&A Activity In Oil And Gas Drops In March
Mergers and acquisitions in U.S. oil and gas fell by 1.49 percent below the 12-month average last month, according to GlobalData . The biggest deal by far for the month Continue Reading
Oil Trading Giant Looks To Enter The Permian Through Major Asset Sale
Commodity trading major Vitol is reportedly negotiating a deal to acquire the oil wells of Hunt Oil Co. in the Permian Basin. According to Bloomberg , which cited unnamed sources, Continue Reading
Commodity trader Vitol acquires Midland Basin shale acreage in US from Hunt Oil
Upstream assets producing around 40,000 boe/d Associated gas ties in to North American interests Vitol, the world’s largest independent oil trader, has agreed to acquire producing acreage in the Permian’s Continue Reading
Shale CEO Sees Producers Staying Disciplined at $70 Crude Oil
America’s shale producers will keep output in check even as global crude oil prices near $70 a barrel, Ovintiv Inc. Chief Executive Officer Doug Suttles said in an interview with Bloomberg Continue Reading
US land drillers see improving activity in 2021 as E&Ps expand operating spheres
US land drillers’ rig counts are continuing to inch forward, and exploration and production companies are enjoying lower costs as they reap the benefits of efficiency improvements, with increasing activity Continue Reading
US oil, gas rig count climbs 8 to 538, gas rigs hit 1-year high: Enverus
The US oil and gas rig count climbed eight to 538 in the week ended April 28, rig data provider Enverus said, as the number of active gas rigs hit Continue Reading
Oil-rich Bakken Shale shows promise of natural gas growth despite fewer rigs
Although oil production in most US shale basins is not expected to reach pre-coronavirus levels until at least late 2023, additional processing and higher gas-to-oil ratios might still lead to Continue Reading