Oil and gas drilling efficiency in major US basins last year surged by...
Oil and gas drilling efficiency in major US basins last year surged by 30% compared to 2019, with the Permian Basin in Texas and New Mexico achieving a 35% improvement, according to a new Enverus Intelligence Research report. The increased efficiency is attributed to larger-scale operations and wellbore design changes, says report author and EIR director Steve Diederichs, and significantly impacts well costs for top-performing operators.
According to the Energy Information Administration, US crude oil inventories rose by 1.2 million barrels for the week ending May 31 to 455.9 million barrels. The increase puts stockpiles at around 4% below the 5-year average for this time of year. In contrast, gasoline and distillate fuel inventories increased by 2.1 million and 3.2 million barrels, respectively, leaving them 1% and 7% below their five-year averages. Crude oil refinery inputs averaged 17.1 million b/d over the period, with refineries at 95.4% capacity.
Today is the 80th anniversary of D-Day, and this year’s event is especially...
Today is the 80th anniversary of D-Day, and this year’s event is especially poignant: It could be the last major commemoration that involves WWII veterans. People who were 20 years old when Allied soldiers stormed the beaches of Normandy on June 6, 1944, are now 100.
Given the gravitas of this year’s anniversary, organizers are giving it a “last hurrah” feel, holding concerts, parachute drops, ceremonies, and parades in what will be the biggest D-Day commemoration in history. Fewer than 200 WWII vets have traveled to France, supported by aides, to take it all in one final time. President Biden is one of roughly 25 world leaders in Normandy to mark the occasion.
Dollar Tree mulls selling Family Dollar. Sometimes...
Dollar Tree mulls selling Family Dollar. Sometimes when your relationship isn’t working out, it’s best to break up, and that seems to be why Dollar Tree is thinking about selling off Family Dollar, which it acquired in 2015 for almost $9 billion. Yesterday, Dollar Tree said it was thinking about selling the brand off, after shuttering hundreds of stores last quarter. Dollar Tree outbid rival Dollar General to snap up Family Dollar, but the chain turned out to be in bad shape and Dollar Tree has been struggling ever since while Dollar General has thrived.
eBay said it would stop accepting American Express, saying the fees are too high and consumers have other options.
An appeals court paused the Georgia election interference case against former President Donald Trump while it considers whether DA Fani Willis should be allowed to remain on the case.
Hunter Biden probably had an awkward day in court as his exes testified about his drug use in his federal gun charge trial.
Senate Republicans blocked a bill that would guarantee access to contraception nationwide.
A deadly heat dome is hovering over California, Nevada, Arizona, Utah, and South Texas.
Hanesbrands agreed to sell Champion to Authentic Brands Group in a deal that could be worth up to $1.5 billion.
Amanda Knox was reconvicted of slander by an Italian court for making a false accusation while being questioned about the murder of her roommate Meredith Kercher, whose slaying Knox was convicted of before being acquitted on appeal.
According to the American Petroleum Institute, US crude oil inventories...
According to the American Petroleum Institute, US crude oil inventories unexpectedly surged by 4.052 million barrels for the week ending May 24, reversing the prior week's decline of 6.49 million barrels. Inventory levels for gasoline and distillates also diverged during the week, with gasoline stocks dropping 452,000 barrels while distillates climbed 2.045 million barrels to push both fuels further from their seasonal five-year averages.
