E&P
Pieridae Energy Halts Production Due to Low Natural Gas Prices
Pieridae Energy said it has shut-in the production of about 6,250 barrels of oil equivalent per day that flows to a third-party owned and operated facility, in response to low natural gas prices.
Gas-Rich Venezuela Faces Production Challenges Ahead of Election
While it sits atop the world's eighth-largest natural gas reserves and the biggest in Latin America, Venezuela's output fell to 4 Bcf/d this year from almost 8 Bcf/d in 2016, data from consultancy Gas Energy Latin America showed.
Crescent Energy, SilverBow Resources Set to Close $2.1 Billion Merger by July 30
The merger, which follows industry consolidation trends, will position Crescent as the second-largest operator in the Eagle Ford basin.
Judge Pauses Wyoming Oil, Gas Drilling Leases for Environmental Review
A federal judge has ordered the U.S. Bureau of Land Management to pause approving new permits to drill for oil and gas on nearly 120,000 acres of federal land in Wyoming until it finishes reevaluating the environmental impacts of a lease sale.
Biden Administration Considers Expanded Alaska Drilling Protections
The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska's National Petroleum Reserve.
Gevo Surpasses Production Milestone in Renewable Natural Gas
Gevo Inc. has reported reaching a new production milestone in its renewable natural gas business, achieving an annualized rate of approximately 402,000 MMBtu in May.
Bolivia Makes Largest Natural Gas Discovery Since 2005 in "Mega Field"
Bolivian President Luis Arce on Monday announced the discovery of a 1.7 trillion cubic foot natural gas reserve located north of the country's administrative capital, La Paz.
U.S. Coast Guard Warns Hurricane Beryl May Shut Texas Oil Ports
The U.S. Coast Guard warned of possible Texas port closures from Corpus Christi to Houston because of Hurricane Beryl, which is expected to make landfall by Monday morning south of Port Lavaca.
Tropical Storm Beryl Expected to Have Minimal Impact on U.S. Offshore Oil Production
Tropical Storm Beryl is expected to have little impact on U.S. offshore oil and gas production, energy companies said on Friday while evacuating personnel from some facilities out of caution.
U.S. Senate Probes Oil Producers for Alleged Price Collusion with OPEC
The U.S. Senate budget committee on Thursday launched a probe of domestic oil producers about any efforts to illegally coordinate oil prices with OPEC, in the latest effort by Democratic lawmakers to pressure energy companies.
Sinopec Strikes Significant Oil, Gas Flow in South China Sea Well
China's Sinopec Corp has struck a high flow of oil and gas in an offshore exploration well in the Beibu Gulf of the South China Sea, it said on Wednesday.
Germany's Wintershall Dea Makes Gas Condensate Discovery in North Sea
Germany's Wintershall Dea and its Norwegian partners Petoro and DNO have made a gas condensate discovery at the Cuvette prospect in the northern North Sea, the operator said in a statement on Wednesday.
Goldman Sachs: Permian Production, OPEC Capacity Likely to Cap Brent at $75-90/bbl
Goldman Sachs expects robust oil production growth in the Permian Basin, the largest U.S. oilfield, and high OPEC spare capacity to likely support the ceiling of their $75-90 per barrel Brent price forecast in the short run, the bank said in a research note on Tuesday.
States Sue U.S. to Block $7 Billion Rule Requiring Oil Firms to Guarantee Well Dismantling Payments
Texas, Louisiana and Mississippi on Monday sued the U.S. government to block the Biden administration's proposed rule that would require the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover costs of dismantling old infrastructure.
Crescent Energy Acquires SilverBow for $2.1 Billion, Creating Second Largest Eagle Ford Operator
Oil and gas producer Crescent Energy will acquire rival SilverBow Resources in a $2.1 billion deal, creating the second-largest operator in the Eagle Ford basin in Texas.
Chevron Prepares for North Sea Exit After More Than 55 Years
Chevron said it is set to launch the sale of its remaining U.K. North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.
Exxon, Pertamina to Advance Carbon Capture Efforts with Appraisal Drilling in Indonesia
Pertamina and Exxon plan to conduct appraisal drilling for a carbon capture and storage (CCS) hub in Indonesia, with the companies signing an initial storage deal with South Korea's KNOC on Wednesday.
EIA: U.S. Oil Output in Top Shale Regions to Hit Six-Month High in June
Production in the top basins will reach 9.85 million barrels per day (bpd), its highest since December, the EIA said.
Occidental Petroleum Aims to Close CrownRock Deal by August
Occidental Petroleum hopes to close its acquisition of shale oil producer CrownRock before its second-quarter earnings call, CEO Vicki Hollub said on Wednesday, a date that typically falls in August.
Exxon's Liza Unity FPSO in Guyana Hits Peak Output of 252,000 bpd, Executive Says
An ExxonMobil led oil consortium has achieved peak production of 252,000 barrels per day from its Liza Unity production vessel, Exxon Guyana Country Manager Alistair Routledge said on Wednesday.
Occidental Explores Sale of Permian Assets Worth Over $1 Billion, Sources Say
Occidental Petroleum is exploring a sale of a part of its operations in the Permian Basin that could fetch more than $1 billion for the energy producer, according to people familiar with the matter.
ExxonMobil Completes Pioneer Acquisition, Doubling Permian Footprint
The acquisition, finalized on May 3, sees ExxonMobil more than doubling its footprint in the Permian Basin, combining Pioneer's substantial acreage and industry expertise with ExxonMobil's technological prowess and financial strength.
Exxon's $60 Billion Deal with Pioneer Gets FTC Approval, Former Pioneer Exec Barred from Board
U.S. regulators on Thursday gave the go-ahead to Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, but barred Pioneer's former CEO from Exxon's board on allegations he attempted to collude with OPEC to raise oil prices.
Colorado Oil Producers Face New Production Fee in Compromise Deal
Colorado's oil producers are bracing for a new fee associated with their production as part of a compromise the industry reached with environmental groups that were pushing for more stringent regulations on drilling.
NAMCOR Partners with Chevron for Offshore Block Development in Namibia
Namibia's national oil company has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, NAMCOR said on Monday.
Exxon Misses Q1 Profit Estimates Despite Guyana Gains
Exxon Mobil Corp. on Friday missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains.
Hess Profit Soars on Increased Guyana Output, Positive Sign for Exxon
Hess Corp. on Thursday reported first-quarter earnings well above analysts' forecasts, driven by a 28% increase in Guyana oil output, a sign Exxon Mobil's results out Friday could also top forecasts.
U.S. Shale Oil Sector Sees Revival Through Advanced Technology Adoption, Financial Obstacles Remain
Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so.
U.S. Oil and Gas M&A Hits Quarterly Record After Strong 2023
U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year's fierce merger pace centered in the top U.S. shale field, data provider Enverus said on Tuesday.
SLB Profit Rises 14% on Strong International Drilling Demand Amid North American Weakness
Top oilfield services firm SLB reported a 14% rise in first-quarter profit on Friday, in line with analysts' estimates, as higher oil and gas drilling demand in the Middle East and Africa helped offset weakness in North America.
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
