Oil
Oklahoma Midstream Firm to Move Headquarters to Downtown Tulsa
Superior Midstream has announced that it will relocate its corporate offices to downtown Tulsa, with the move scheduled for January 2025.
Report: U.S. Oil, Gas M&A Activity Soars 57% in 2023 Amid Industry Consolidation
Dealmaking activity in the oil and gas industry increased 57% last year as energy companies boosted development spending, driven by higher cash flows from profits in prior years, according to a report released on Tuesday.
Goldman Sachs Predicts Brent to Fall Amid Soft China Demand
Goldman Sachs on Tuesday said it expected Brent crude prices to fall to $68 per barrel by late 2025 if China oil demand remains flat through end of next year.
Oil Producer APA Explores $1 Billion Sale of Permian Basin Assets: Sources
APA Corp. is exploring the sale of oil and gas drilling properties spread across parts of the Permian basin of Texas and New Mexico, in a deal that could be valued at about $1 billion, people familiar with the matter told Reuters.
Pipeline Capacity Shields Canadian Oil Exports from Rail Strike Impact
A looming labor dispute at Canada's two main railroads is unlikely to significantly reduce oil exports to the United States due to excess capacity on Trans Mountain and other pipelines, people close to the matter said.
Texas Oil Billionaire, Endeavor Energy Founder Autry Stephens Dies at 86
Autry Stephens, the billionaire founder and chairman of Endeavor Energy Resources, died at age 86 after a prolonged battle with cancer, the company disclosed on Friday.
Texas RRC Levies Over $2 Million in Penalties for Oil, Gas Violations
The Railroad Commission of Texas (RRC) has imposed more than $2 million in fines on operators and businesses for violations within the state's oil and gas industry.
Shaping the Future: Strategies for Attracting, Training, and Retaining Energy Sector Talent
Data associated with workforce development is not for the faint of heart. The angst it can cause is especially real for those connected to the energy industry: employers, labor partners, contractors, educators, workforce systems and other stakeholders.
North Dakota Oil Production Drops Again in June, Hits 1.18 Million bbl/d
North Dakota's oil production fell by 22,500 barrels per day (bbl/d) in June to an estimated 1.176 million bbl/d, the state's Pipeline Authority said on Thursday, marking a second straight monthly decline.
U.S. to Purchase Oil Through 2025 After Massive 2022 Drawdown
The U.S. is slowly replenishing the Strategic Petroleum Reserve, planning to buy back millions of barrels of oil for delivery in the first several months of next year, after the largest ever sale from the stockpile in 2022.
Harris Walks Fine Line on Energy, Keeping Voters and Industry Guessing
Is she the climate and anti-pollution warrior who was attorney general of California? Or the pragmatic Number Two in the Democratic Biden administration that oversaw record U.S. oil production and exports.
Corrosion Control: Options for Combating Damage Due to Black Powder in Pipelines
Black powder (BP) is an industry name for the abrasive, reactive particulate contamination present in all gas and hydrocarbon fluid transmission lines. Black powder ranges from light brown to black, and the mineral makeup varies per production field around the world.
Edge Architecture Under Siege: Essential Cybersecurity Strategies for Oil and Gas Leaders
Join our expert panel on August 29, 2024, at 10 a.m. CDT to explore crucial strategies for enhancing cybersecurity in edge architectures. Learn how to prepare for and respond to cyberattacks in the oil and gas sector. Register now to secure your spot!
Libya’s Waha Oil Loses 115,000 bbl/d Due to Pipeline Maintenance
Libya's Waha oil company's production was reduced by 115,000 barrels per day due to maintenance on the pipeline pumping oil from the Waha field to Es Sider port, a company source told Reuters on Wednesday.
Nigerian Army Destroys 27 Illegal Refineries, Seizes 100,000 Liters of Stolen Oil
Nigerian army troops have destroyed at least 27 illicit refining sites and seized stolen crude oil following raids this week on illegal oil bunkering sites in the Niger River delta, an army spokesperson said on Wednesday.
Maverick Natural Resources Explores $3 Billion Sale, Sources Say
The Houston-based exploration and production company, which is owned by energy-focused investment firm EIG, is working with investment bankers at Jefferies on the sale process, the sources said, requesting anonymity as the discussions are confidential.
Texas Oil Regulator Faces Scrutiny as "Zombie" Wells Reemerge
On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged just over a year earlier, hissing gas and bubbling toxic water into the dry Texas dirt.
CPP Investments Acquires $843 Million Stake in Private Midstream Firm Tallgrass Energy
Based in Denver, Colorado, Tallgrass is a leading infrastructure company operating a network of more than 10,000 miles of pipeline assets across 14 states in the U.S.
Oil Investors Slash Positions to Record Low Amid Global Market Turmoil: Kemp
Investors cut their petroleum positions to the lowest level for at least a decade early last week, part of a broad-based retreat from risk amid rising concerns over a global economic slowdown.
Exxon Reports 59 Layoffs to Texas Workforce Commission After Pioneer Acquisition
Exxon Mobil issued a layoff notice to 59 employees as part of its workforce reshuffle following its $60 billion acquisition of Pioneer Natural Resources, according to a filing with the Texas Workforce Commission.
U.S. Shale Boosts Output with Fewer Rigs, Defying Post-Merger Slowdown
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will boost global oil market supplies as OPEC also plans to unwind its output cuts later in the year.
Gran Tierra Reports Fifth Oil Discovery in Ecuador with Charapa-B6 Well
Gran Tierra Energy Inc. has announced its fifth oil discovery in Ecuador with the successful drilling of the Charapa-B6 well on the Charapa block.
Occidental Puts CrownRock Expansion on Hold, Targets Debt Cut
Occidental Petroleum said it will focus on cutting debt and catching up with promised production goals before an eagerly anticipated expansion of its cash distribution program.
U.S. to Buy 6 Million Barrels of Oil for SPR, Building on 5 Million Bought Last Month
The U.S. is seeking to buy another 6 million barrels of oil from energy companies to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said on Monday.
Mexico's New Government to Encourage Pemex Partnerships with Private Oil Firms, Sources Say
Mexico's incoming government will encourage state oil producer Pemex to seek equity partnerships with private oil companies, a model out of favor with the current president, in a bid to boost reserves amid towering debt, according to four sources familiar with the matter.
Dangote Refinery Urges Nigeria to Enforce Crude Supply Law for Local Refiners
The Dangote Oil Refinery has called on Nigeria's upstream oil regulator to force producers to abide by a law that stipulates they supply local refineries, saying that lax enforcement was raising its operational costs.
Iran Pushes Oil Exports to New Destinations, Including Bangladesh and Oman
Iran has sent small shipments of crude oil to new destinations such as Bangladesh and Oman, according to shipping sources and data, the latest sign of Tehran pushing to sustain output at close to its highest in five years.
Citgo Posts $25 Million Q2 Loss Amid Unfavorable Market Conditions, Refinery Maintenance
Citgo Petroleum has reported a net loss of $25 million in the second quarter following unfavorable market conditions and refinery maintenance and upgrades, compared with income of $410 million in the quarter immediately prior.
Energy Transfer Raises 2024 Profit Forecast on Higher Volumes, Acquisitions
Energy Transfer has raised its full year profit forecast after the U.S. pipeline and storage company posted higher second-quarter profit on the back of strong crude and natural gas liquids (NGL) transportation volumes.
NOG to Acquire Additional Uinta Basin Assets for $17.5 Million
Northern Oil and Gas Inc. announced it has exercised its option to acquire a 20% stake in the Altamont Assets in the Uinta Basin. The purchase price is $17.5 million in cash, subject to customary closing adjustments.
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Puerto Bahia, Gasco to Build Liquefied Petroleum Gas Facility in Cartagena, Colombia
- Sempra's Costa Azul LNG Project Delayed by Labor Issues
