August 1, 2024

BREAKING NEWS- Chevron’s $53 billion Hess merger delayed again as ExxonMobil arbitration drags into 2025

August 1, 2024

World Oil (Bloomberg) – Chevron Corp.’s $53 billion proposed takeover of Hess Corp. suffered another setback as an arbitration hearing to settle an ownership dispute with Exxon Mobil Corp. won’t be held until next year. The international arbitration panel handling Exxon’s claim that Chevron’s acquisition does not give it the right to control Hess’ stake in a Guyanese oil project

U.S. oil & gas Jobs are disappearing despite record production

August 1, 2024

Oil Price U.S. oil production is breaking records, but employment numbers have dropped in five out of six months this year as operational efficiencies allow operators to continue to boost production with fewer rigs and workers, the Texas Oil & Gas Association (TXOGA) said last week in a cautionary note. Texas, home to the biggest shale basin, the Permian, has seen crude

Shale drilling Ovintiv increases 2024 oil and gas production target on unexpected Permian success

August 1, 2024

World Oil (Bloomberg) – Shale driller Ovintiv Inc. increased its 2024 production target, the second oil and gas company to do so this year. The company expects to pump the equivalent of 570,000 to 580,000 bbl of crude this year, compared with the previous forecast of 545,000 to 575,000, according to a statement. At the mid ranges of those targets,

Dominion Energy posts fall in second-quarter profit on higher expenses

August 1, 2024

U.S. News Dominion Energy posted a fall in second-quarter profit on Thursday, as higher interest and maintenance costs weighed on the electric utility. Higher-for-longer interest rates continue to weigh on the utilities sector, making dividend-paying stocks such as REITs and utilities less attractive and driving up borrowing costs. The company’s interest expenses rose to $469 million in the second quarter,

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 18 Bcf

August 1, 2024

Natural Gas Inventories as of July 26, 2024 The EIA has released its natural gas inventory report, showing a net increase of 18 Bcf as of July 26, 2024. Working gas in storage was 3,249 Bcf as of Friday, July 26, 2024, according to EIA estimates. This represents a net increase of 18 Bcf from the previous week. Stocks were

BREAKING NEWS- Chevron’s $53 billion Hess merger delayed again as ExxonMobil arbitration drags into 2025

U.S. oil & gas Jobs are disappearing despite record production

Shale drilling Ovintiv increases 2024 oil and gas production target on unexpected Permian success

Dominion Energy posts fall in second-quarter profit on higher expenses

Weekly Gas Storage: Inventories increase by 18 Bcf

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