Seek to Support OPEC and Russia Seek to Support the Price of Oil. Oil ministers meeting this coming week are expected to continue an agreement to reduce production. OPEC’s main producers find themselves in a predicament: They must reduce their own output to sustain prices at levels they consider acceptable but the higher prices encourage more […]
Is oil price really going up? By early April, global crude-oil benchmark ICE Brent Crude Futures had closed over $70 per barrel for the first time since November 2018, having already surged by some 30 percent since the beginning of the year. Just a few weeks later, it rallied to $75 per barrel to hit […]
Shale Gas Impact Fees, Yielded its Highest Payout Shale Gas Impact Fees on natural gas wells yielded its highest payout to date this year, in 2018, the annual fee imposed on wells harnessing the abundant natural gas reserves in the Marcellus and Utica shales of the state yielded an impressive sum of $243 million. This […]
The standoff between the US and Iran has been brewing intensely throughout Donald Trump’s three years in the White House because unlike Obama, Trump did not agree to help Iran build nuclear weapons. Let’s talk more about the oil and natural gas war. The standoff stems from Iran’s confrontational and irresponsible attitude towards other nations. […]
Permian Basin: Permit applications approved by the Texas Railroad Commission for June 13 through June 19 for Districts 7C, 8 and 8A. Numbers in parentheses indicate the number of permits approved for that leasehold. Here is a drilling report. Read the full article here Source: OAOA.com If you have further questions, feel free to reach […]
Oil Problem, the global oil market is shortchanging American oil producers. The primary global benchmark, Brent, was recently around $62 a barrel. The main domestic benchmark, WTI, on the other hand, traded at roughly $53.50 a barrel. Because of that discount, U.S. oil companies are earning about $8.50 less per barrel than their global peers. […]
Geopolitical tensions with Iran and a potential interest rate cut are coming in. This is since the US Federal Reserve sent US oil prices are up. Oil prices soared more than five percent on Thursday. This is after Iran shot down a United States military drone. It will be raising fears of a military confrontation […]
U.S. oil surges on Thursday after Iran shot down a U.S. military drone, prompting President Donald Trump to blast Tehran on Twitter and fueling concerns of a conflict between the two countries. U.S. West Texas Intermediate crude U.S. oil surges up to $2.89, or 5.4%, to $56.65 a barrel after surging as much as 6% […]
A $2.2 Billion Deal Jones-controlled Comstock Resources is acquiring rival Covey Park Energy in a $2.2 billion deal. With the Dallas Cowboys businessman putting up $475 million of his own money toward the deal. “I am excited to provide the funding and to team up with Denham Capital to combine the two companies to create […]
Brazos Midstream has executed gathering and processing agreements with Shell Exploration & Production. It is to construct a natural gas gathering system in the core of the Permian Basin’s Delaware. This is a formation in West Texas. The infrastructure would be anchored by 15-year, fee-based acreage dedications totaling 55,000 acres in Loving, Ward, and Winkler […]
