The oil tanker industry faces brighter prospects in the coming months with more crude sets to arrive on the international markets, according to the Nordic American Tankers. In its second-quarter update, tanker operator Nordic American Tankers said that “Demand for oil is going up. OPEC is raising its output.” “Current high oil, gas, and electricity […]
⚠️ IMPORTANT LEGAL DISCLAIMER: The information provided on this page is for general informational purposes only and does not constitute legal, financial, or investment advice. Oil and gas laws, mineral rights regulations, and royalty structures vary significantly by state and jurisdiction. While we strive to provide accurate and up-to-date information, no guarantee is made to […]
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 […]
The wellhead price is one of the most important — yet often misunderstood — concepts in oil and gas economics. It directly impacts how revenue is calculated at the source and plays a major role in determining profitability across the entire production lifecycle. Understanding how the wellhead price works, how it differs from market benchmarks, […]
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 […]
⚠️ IMPORTANT LEGAL DISCLAIMER: The information provided on this page is for general informational purposes only and does not constitute legal, financial, or investment advice. Oil and gas laws, mineral rights regulations, and royalty structures vary significantly by state and jurisdiction. While we strive to provide accurate and up-to-date information, no guarantee is made to […]
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 […]
⚠️ IMPORTANT LEGAL DISCLAIMER: The information provided on this page is for general informational purposes only and does not constitute legal, financial, or investment advice. Oil and gas laws, mineral rights regulations, and royalty structures vary significantly by state and jurisdiction. While we strive to provide accurate and up-to-date information, no guarantee is made to […]
