May 2, 2025 – Oil & Gas 360

Netherland, Sewell & Associates, Inc. (NSAI) to host its Oil & Gas Property Evaluation Seminar in Dallas, Texas May, 5-6, 2025

May 2, 2025

(Oil & Gas 360) – April 22, 2025 – For over 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. (NSAI) has hosted its highly regarded Oil & Gas Property Evaluation Seminar. This content-rich program is designed to give non-technical energy professionals such as bankers, investors, analysts, lawyers, accountants, and new oil and gas industry professionals a basic education detailing

New budget proposal cuts clean energy funding, expands fossil fuel research

May 2, 2025

(Oil Price) – President Trump’s newly released 2026 budget proposal aims to slash over $15 billion in federal support for carbon capture and renewable energy programs, signaling a sharp pivot toward fossil fuels and nuclear energy—and away from climate-focused policy. The White House plan, which proposes $163 billion in total cuts to non-defense spending, also scraps $6 billion in funding for

OPEC+ moves up video conference to discuss June oil production – Bloomberg

May 2, 2025

(Investing) – The Organization of Petroleum Exporting Countries and allies (OPEC+) has rescheduled its video conference to discuss oil production levels for June. The meeting, initially planned for May 5, will now take place on Saturday, according to a report from Bloomberg, citing delegates who requested anonymity due to the private nature of the information. The upcoming meeting has the potential

Permian Basin growth fuels ExxonMobil’s quarterly success

May 2, 2025

(Oil Price) – First-quarter earnings at ExxonMobil (NYSE: XOM) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. Despite the lower earnings compared to a year ago, Exxon expressed confidence that the structural and cost-saving measures of the past few years have prepared it to weather the

Chevron meets Wall Street profit estimates but cuts buybacks in Q2

May 2, 2025

(BOE Report) – Chevron on Friday reported first-quarter earnings that met Wall Street estimates, but said it would spend less on share repurchases in the current quarter, reflecting the shaky economic outlook faced by Big Oil. The company’s share repurchases this year could be between $11.5 billion and $13 billion, said Chevron Chief Financial Officer Eimear Bonner, which would be in

Trump Administration sues Michigan to halt state’s fossil fuel lawsuit plan

May 2, 2025

(World Oil) – The Trump administration sued Michigan and Hawaii seeking to block the states from suing oil companies for damage caused by climate change, less than two months after the U.S. Supreme Court rebuffed a Republican bid to derail such legal efforts. The U.S. claims the anticipated lawsuits interfere with federal policy on greenhouse gas regulation and are an

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count decreased by 3 is at 584

May 2, 2025

This week’s Baker Hughes Rig Count shows that the U.S. decreased by 3 over last week, resulting in a total count of 584 rigs. Canada had a decrease of 8 over last week, resulting in a total Canadian count of 120 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Haynesville region experienced an increase this

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