In the energy-rich regions of the United States, regular landowners have a lucrative interest in the legal framework of mineral and royalty rights....
Rimrock Resource Partners LLC closed a $150 million acquisition of Scoop assets, the company announced July 28. The acquisition covers approximately 24,500...
U.S. oil futures settled higher on Friday. On the New York Mercantile Exchange, September WTI settled at $41.60 a barrel. The U.S....
On July 28, 2016, Devon Energy Production LP (DVN) filed a Transfer of Operator (Form 1073) with the Oklahoma Corporation Commission (OCC) transferring...
Devon Energy Corporation (NYSE: DVN) has assets in the very best North American resource plays and a deep inventory of opportunities. After initiating...
BHI revealed a weekly climb in the number of active U.S. rigs drilling for oil–the sixth-weekly climb in seven weeks.The number of...
Back in January of this year, Luxe Energy LLC announced it had acquired about 18,000 net acres in the core of the...
The number of rigs exploring for oil and natural gas in the U.S. increased by nine this week to 440. A year...
The number of rigs exploring for oil and natural gas in the U.S. declined by three this week to 421, snapping three...
With the equity backing of Natural Gas Partners, HighMark Energy was formed in the fall of 2013 to acquire, develop and produce upstream...
Under threats from President Trump that included steep tariffs, President Gustavo Petro of Colombia has relented and will allow U.S. military planes to fly deportees into the country, after turning two transports back in response to what he called inhumane treatment.
The two leaders had engaged in a war of words on Sunday after Colombia’s move to block Mr. Trump’s use of military aircraft in deporting thousands of unauthorized immigrants.
But on Sunday night, the White House released a statement in which it said that because Mr. Petro had agreed to all of its terms, the tariffs and sanctions Mr. Trump had threatened would be “held in reserve.” Other penalties, such as visa sanctions, will remain in effect until the first planeload of deportees has arrived in Colombia, the statement said.
“Today’s events make clear to the world that America is respected again,” it added.
In his inaugural address, Trump claimed he would reclaim the Panama Canal from Panamanian control, criticizing China's infrastructure involvement and high transit fees for US ships. This follows the canal's transfer to Panama in 1999 after decades of US control.
The canal, completed in 1914 at a cost of $13.5 billion (in today's dollars), was handed over to Panama through treaties signed in 1977. Panama has since invested $5 billion in modernizing the canal, generating $2.5 billion annually in transit fees.
Trump's suggestion of forcibly retaking the canal has been criticized by Panamanian and Chinese officials, who emphasize the canal's status as a neutral international waterway.
U.S. energy firms cut the number of active oil and gas rigs for a third consecutive week, reducing the total by four to 576 as of January 24, the lowest since December 2021, according to Baker Hughes. The rig count is now down 45 rigs, or 7%, from the same time last year.
Oil rigs dropped by six to 472, while gas rigs rose by one to 99. In the Permian Basin, the nation’s largest oil-producing shale region, the rig count fell by six to 298, the lowest since February 2022 and the largest weekly decline since August 2023.
The rig count has declined by 5% in 2024 and 20% in 2023 as lower oil and gas prices pushed energy firms to prioritize debt reduction and shareholder returns over production growth.
Despite potential further declines in crude prices, the EIA projects U.S. crude output will rise from 13.2 million barrels per day (bpd) in 2024 to 13.6 million bpd in 2025. On the gas side, a projected 43% increase in spot gas prices in 2025 is expected to spur higher drilling activity, reversing recent declines. The EIA forecasts gas production will rise to 104.5 billion cubic feet per day (bcfd) in 2025, up from 103.1 bcfd in 2024 and a record 103.6 bcfd in 2023.
Oil futures tallied their first weekly loss in five weeks on Friday as recent comments from President Donald Trump suggested he would pressure major oil producers to boost crude output.
Prices, however, ended slightly higher for the trading session, a day after settling at their lowest in two weeks, as traders continued to weigh uncertainty surrounding the president’s energy policies.
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