The most likely scenario brings about a slowdown in consumption growth and energy sources savings. Oil and natural gas will remain the most consumed source of energy. It is a projection in the United States by 2050 by The Department of Energy (DOE, its abbreviation in English). Energy in the country will grow in this […]
Russia’s invasion of Ukraine set off the latest shock to international energy markets. It is renewing a call among politicians at the state and national levels. Mostly Republicans so far, they are requesting to reduce the heavy U.S. reliance on imports. It is by ramping up oil and gas production in places like Colorado. Republican […]
ENID — A broad-based recovery is underway regarding the state of the oil and gas industry in Oklahoma. Operators of all sizes are making investments right now, said Brook Simmons. He is the president of Petroleum Alliance of Oklahoma. The industry recovery receives support by higher commodity prices. It is after a “challenging, multi-year readjustment […]
More oil and gas pipelines are coming to southeast New Mexico. This is as operators in the Permian Basin seek to up fossil fuel production in response to growing demand. More people are now expecting an oil and gas surge. Odessa, Texas-based Saulsbury Industries announced Feb. 16 it received multiple contracts to build about 16.5 […]
A total of 74 billion-dollar deals were undertaken in the oil and gas industry last year. This is in comparison to only 40 in 2020 says GlobalData. The leading data and analytics company notes that oil price recovery encouraged companies to undertake more high-value deals. This is to push forward their growth plans. The largest […]
The number of active drilling rigs in the United States rose by 22 this week—the 16th straight weekly increase to the number of oil and gas rigs in the United States and the largest single-week rise since February 2018. Continue reading to learn more about U.S Rig Count. The total rig count now sits at […]
According to AAA, the average price per gallon in Connecticut was $3.58. It was a massive gas price increase! There is more pain at the pump across Connecticut and nationwide as gas prices climb higher once again. “It sucks. It’s terrible, I hate it,” said Aiden Roche of Bristol. “Frustrating, yeah I’m not OK with it. […]
As U.S. oil rises toward $100 a barrel, producers in some high-cost shale basins are buying properties and adding rigs and frack crews in places that fell silent when prices crashed early in the pandemic two years ago. U.S. drillers get busy in costly shale basins now. Benchmark U.S. prices last week topped $93 a […]
There are three recent acquisitions of oil- and gas-producing assets in the Permian Basin. And yes, it moved more than $1 billion in the last week! This is as the market for fossil fuels in the U.S. grows along with production in the basin. This is one of the nation’s most active. Domestic oil was […]
LATEST OIL NEWS – Oil had its biggest January gain in at least 30 years as robust demand outpaced fresh supply. The global benchmark settled above $91 a barrel, posting a 17% gain this month. The combination of booming demand, scratchy supply and dwindling stockpiles has helped crude soar this month, with top banks and […]
