Oil prices will return to above $80 per barrel in the second half of this year. This could continue rising toward $90 due to a deepening supply deficit at Francisco Blanch. This is what the head of commodities research at Bank of America has been telling Bloomberg Television on Friday. This quarter will be a […]
United States commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.0 million barrels from the previous week. At 467.6 million barrels, U.S. crude oil inventories are slightly below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data, reporting inventories as […]
Are you ready to talk more about how the global investment in oil and gas soars? Read further below. 1. Canada Wildfires Curb Gas Output – Canada’s constant state of emergency triggered by rampant wildfires across the province of Alberta. It is taking a heavy toll on gas production in the country. It is now […]
Enterprise Products Partners (EPD.N) first-quarter crude oil pipeline volumes increased slightly. The pipeline and storage company said on Tuesday, helped by production growth in the top U.S. shale basin. Enterprise has remained bullish on oil production from the Permian Basin. It spread across Texas and New Mexico and is looking to build a crude oil […]
U.S. Energy Development Corp., an Arlington-based exploration and production company. They acquired a 25% working interest in the Mascot Project. It is stacked pay asset in core Midland Basin for $225 million cash and other considerations, the company announced. U.S. Energy said it anticipates full development of the project to comprise another $130 million in […]
Investment in new oil and gas production will still be needed in the energy transition. This is as demand will still be there over the next few decades says Mark Carney. He is the former governor of the Bank of Canada and the Bank of England. The world is raising investments in clean energy. However, […]
Companies with a focus on the oil-rich Permian basin are likely to be at the center of the next wave of consolidation in the U.S. energy sector as favorable oil prices prompt cash-rich drillers to tap into the largest source of shale oil. Learn more about this energy deal. Top producers have built a war […]
The Permian Basin is expected to need 115,000 additional workers by 2040, according to the Permian Strategic Partnership. On Thursday, the Federal Reserve Bank of Dallas teamed up with local leaders to better understand the economy in the region with the pandemic now mostly in the past. Read more about this economic success goal. Discussions […]
The Wall Street Journal reports that ExxonMobil, (NYSE: XOM), and Pioneer Natural Resources, (NYSE: PXD) are in preliminary discussions about a permian mega deal merger. There has been a good bit of M&A activity the last year or so in shale country. Quite a bit of which was in the Eagle Ford play in South […]
Oil prices slightly rose on Wednesday as the market waited for U.S. inflation data later in the day. It will likely influence the Federal Reserve’s policy on future interest rate hikes. U.S. West Texas Intermediate rose 77 cents, or 0.95% to $82.29 a barrel. Brent crude climbed 87 cents, or 1.02% to $86.28 a barrel. […]
