S&P Global Platts – In a first ever, Permian forward gas prices settled in negative territory this week as the 2020 market outlook...
CNBC – Outgoing BP chief Bob Dudley on Wednesday criticized sweeping climate proposals from Sen. Bernie Sanders, a top-tier 2020 Democratic presidential candidate, and...
Reuters – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and...
John Kemp – Reuters – U.S. oil and gas production growth is slowing, as lower prices force shale firms to reduce new...
Victoria Advocate – People in the Eagle Ford Shale region who’ve signed leases with Equinor for the mineral rights beneath their land...
Greg Avery – Denver Business Journal – Colorado issued the fewest oil and gas well drilling permits in more than a decade...
Reuters – U.S. energy exports to China, mostly crude oil and natural gas, will climb as the world’s two largest economies struck...
Bloomberg – Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to...
Reuters – U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as...
David Blackmon – Forbes – Forty years ago, the conventional wisdom about oil was that we were running out of it and...
U.S. energy firms added oil and natural gas rigs for a second week in a row this week, boosting the monthly count by the most since November 2022, energy services firm Baker Hughes said in its closely followed report on Friday.
The total oil and gas rig count rose by three to 589 in the week to July 26. Despite this week's rig increase, the total count was still down by 75, or 11% below this time last year.
Oil rigs rose five to 482 this week, while gas rigs fell by two to 101.
In the Permian in West Texas and eastern New Mexico, the nation's biggest oil-producing basin and home to more than half the country's rigs, drillers cut one rig, bringing the count down to 304, the lowest since February 2022.
In the Williston in North Dakota and Montana, drillers added one rig, bringing the count up to 36, the highest since June 2023.
In July, total oil and gas rigs rose by eight, their first monthly increase since February and the biggest monthly increase since November 2022.
Oil rigs rose by three in July, putting the count up for the first month since March, while gas rigs climbed by four in their biggest monthly increase since July 2023.
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