My 2 Favourite TSX Energy Stocks for December 2023
December 20, 2023
2023-12-20 19:00:00 ET This year, energy stocks are on a roller coaster ride amid volat…
Shale bosses anticipate more oil megadeals — some express concerns about consolidation
December 20, 2023
World Oil (Bloomberg) — Shale bosses are bracing for more megadeals in the U.S. oil industry — and some fear the consequences of consolidation. Executives predict more monster acquisitions after Chevron Corp.’s $53 billion takeover of Hess Corp. and Exxon Mobil Corp.’s purchase of Pioneer Natural Resources Co. for $59.5 billion in October, according to a quarterly survey by the Federal Reserve Bank of Dallas.
US Gulf of Mexico oil auction is largest since 2015
December 20, 2023
Nasdaq New throughout, adds sale results, statements from oil industry and environmental group (Reuters) -A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025. The auction total was the highest of any federal offshore oil and gas lease
Brent breaks past $80 barrier as Houthis attack Red Sea
December 20, 2023
Oil Price Brent crude oil broke past the $80 resistance level on Wednesday, as tensions in the Middle East continued to rise and as Houthi attacks on Red Sea shipping showed no signs of easing, prompting concerns of price-impacting disruptions to the energy trade. At 10:38 a.m. ET on Wednesday, Brent was trading at $80.20, up 1.22% on the day,
U.S. crude oil inventories increase by 2.9 million barrels
December 20, 2023
Weekly Crude Oil Storage as of December 15, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.9 million barrels from the previous week. At 443.7 million barrels, U.S. crude oil inventories are 1% below the five year average for this time of year, according to the EIA crude oil and petroleum
Frontier Carbon Solutions secures first permits for Sweetwater carbon storage hub in Wyoming
December 20, 2023
World Oil (WO) – Frontier Carbon Solutions, a project developer in the carbon capture, utilization, and sequestration (“CCUS”) sector, has received the first three Class VI UIC permits issued by the Wyoming Department of Environmental Quality (“DEQ”). This key milestone for Frontier’s first carbon storage hub in southwest Wyoming, the Sweetwater Carbon Storage Hub represents the first Class VI permits
Canadian oil producers may wait for elections before cutting emissions
December 20, 2023
Oil Price Several small-sized Canadian oil and gas producers prefer to wait and see if Prime Minister Justin Trudeau and his Liberals will survive the 2025 election instead of investing a lot of money and cutting production now to start complying with a federal framework to slash emissions by 2030. “Say that we would have to spend significant capital (to
U.S. shale drillers to cut spending after 2023 oil production boom
December 20, 2023
World Oil (Bloomberg) – Closely held operators, once the engine to the Permian’s shale growth coming out of the pandemic, are now expected to lead U.S. oil drillers into spending contraction next year. Private oil and natural gas operators are projected to cut their budgets by 4% to an average of $34.4 billion in 2024, according to the 39th annual global
