As much as 95 percent of oil production in the U.S. section of the Gulf of Mexico has been shut-in. That is the Hurricane Ida Oil Effect. As hurricane Ida passed through it before making landfall in Louisiana earlier today. What is the latest data from the Bureau of Safety and Environmental Enforcement? Some 288 […]
After taking a beating over the past few weeks, oil price rise surging on rising demand optimism. This is a major production outage in Mexico. Also the first full U.S. regulatory approval of a COVID-19 vaccine. October crude and Brent were up 3% to $67.47/bbl and $70.83/bbl, respectively. A day after a 5% surge by […]
What’s the price of oil today? Well, that strongly depends on both where you are. Also at what stage along the resource supply chain you are on. In the realm of mineral rights, there are many different ways in which natural resources are quantified and sold. This includes such as oil, natural gas, and coal. […]
The game is afoot with 2D seismic and a 6-well exploration drilling campaign. This is with evidence of an active petroleum system now confirmed after two test wells in Namibia’s 6.3-million-acre Kavango Basin. That hopes to put this final frontier nation definitively on the commercial oil map. Recon Africa (TSXV:RECO, OTC:RECAF), the junior explorer behind […]
When it comes to owning mineral rights, for many, it’s all about the royalties. No, we are not referring to the King and Queen. Nor talking about the compensation an actor receives from an appearance on a program or advertisement. Instead, mineral royalties in the context of mining are the monthly payments that mineral owners […]
Oil prices fell on Friday but still managed to eke out a slight weekly gain at $68.44/bbl. This is as investors continued to weigh a bullishly tight global market. Mainly against the worrying spread of the coronavirus delta variant. Oil prices have been highly volatile over the past few weeks. With the International Energy Agency […]
The era of cheap natural gas might be gone for good. U.S. natural gas futures climbed to a 31-month high of 4.16/MMBtu on Thursday thanks to forecasts for hotter weather over the next two weeks and soaring global gas prices ensuring that U.S. liquefied natural gas (LNG) exports will remain at record highs. Refinitiv has […]
If you are buying property, then your deed will likely list your new asset’s legal location. The term “legal location” is not always useable in property leases and sales. Still, it is entirely necessary if you are entering into a mineral rights agreement. In this article, we will define the term “legal location” in the […]
For an industry in trouble, the offshore oil and gas industry is doing pretty well. This is especially in terms of discoveries and final investment decisions. So far this year, 21 new offshore projects have received a final investment decision. This is according to Westwood Global Energy Group. At the same time, there are a […]
New Mexico broke an oil production record in May, pumping an average of 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports, citing government data, that New Mexico produced more oil than North Dakota, and it did so for three months in a row to May. New Mexico also […]
