Large independent exploration and production companies against oil majors. West Texas shale play economic, a factor that has large independents and oil majors jockeying for dominance by filing ever-larger batches of drilling down permits. Exxon Mobil is preparing 25 horizontal wells spread out in Glasscock, Loving, Pecos, Reeves, and Winkler counties. The oil major has […]
Q4 gasoline demand is only about 4-6% lower than the three summer months . Come winter, domestic demand will be ramping up 50%, with overall needs this year rising even more because of more LNG exports. Read the full article here Source: Forbes.com
Traders have scrambled to calculate what the limit move in oil would be, after Saturday’s drone attack on the ‘’world’s most important oil processing plant’’. Let’s talk more about this oil price explosion. And moments ago, Brent crude reopened for trading, exploding almost 20% higher, its biggest jump in 28 years time. Bloomberg notes that […]
Oil prices gain and traded higher on Wednesday after an industry report said U.S. crude stockpiles fell last week. Brent crude futures rose 51 cents, or 0.6 percent, to $62.89 a barrel by 0405 GMT, while West Texas Intermediate (WTI) futures were up 54 cents, or 0.9 percent, to $57.94 a barrel. Prices had ended […]
While fracking has been going on in the U.S. since the late 1940s, it wasn’t until just after the turn of the century that it began to be increasingly used in conjunction with horizontal drilling. That marriage of technologies ushered in the fracking boom and resulted in a renaissance of oil and gas production. The […]
YOUNGSTOWN, Ohio – Oil and natural gas production in Ohio’s Utica-Point Pleasant shale play rose in the second quarter. This is as 614.22 billion cubic feet of gas and 5.81 million barrels of oil were produced. Most are by wells in the state. Those numbers are up from 609.45 billion cubic feet of gas and […]
Big Oil companies are betting $50 billion on oil and gas projects. Noting that the approval of these projects suggests the industry is still firmly on a path. The path that diverges from the Paris Agreement goals. In a report “Breaking the Habit – Why none of the large oil companies are ‘Paris-Align’. What they […]
The U.S. deputy energy secretary told CNBC Monday that America wants to achieve energy dominance regardless of what happens to oil prices. OPEC has struggled to shore up crude futures this year. It has once again raised questions about whether the Middle East-dominated group really wields that much influence over world crude markets. Read the […]
ODESSA, Tx. (KOSA) The Texas Transportation Commission voted unanimously on Thursday to provide an additional $2 billion in funding to improve Permian Basin roads. With the Texas Transportation Commission approving $2 billion for transportation infrastructure, more than $5 billion total will be funneled into Permian Basin roads over the next 10 years. Read the […]
World energy demand is growing, and America’s oil and natural gas companies are investing to meet it — sustainably. That’s critical because International Energy Agency projections show that fossil fuels will supply 78% of global energy needs by 2040, even as renewable sources expand. Read more below about the American Petroleum Institute Oil report. U.S. […]
