(Oil Price) – U.S. natural gas prices are set to rise through 2035, following a decade of low Henry Hub prices, as the AI data center boom and the expansion of U.S. LNG export infrastructure will underpin strong demand, analysts at Wood Mackenzie say. During the decade to 2025, the benchmark U.S. Henry Hub prices remained in a narrow range of between $2
(World Oil) – Superior Energy Services has entered into a definitive agreement to acquire Sonic Holdings, LLC, expanding its production equipment and wellsite services portfolio with the addition of a provider of electric feed-through technologies, drilling wellheads and aftermarket services. Financial terms of the transaction were not disclosed. The acquisition is expected to close during the third quarter of 2026. Founded in 2017,
(Oil Price) – Up to 75% of the previous oil flows through the Strait of Hormuz are expected to return to the market by the end of the year, but significantly lower oil prices aren’t guaranteed for 2027 as the ongoing U.S.-Iran tensions are unlikely to be resolved for good soon, Fereidun Fesharaki, chairman emeritus of FGE NexantECA, told CNBC on Monday. Before
(World Oil) – bp has agreed to sell its non-operated interest in the Bay du Nord project offshore Newfoundland and Labrador, Canada, to operator Equinor, continuing its strategy of simplifying its upstream portfolio and focusing capital on higher-value opportunities. The transaction includes bp’s interests across 10 licenses associated with the Bay du Nord development, representing an average 37.2% working interest. Financial terms were not
(BOE Report) – The world has absorbed with surprising ease the loss of over a billion barrels of oil supply since the Iran war began, but, with long-term peace elusive and buffer reserves now drained, it still faces the looming risk of future price spikes. Tehran’s throttling of the Strait of Hormuz in response to the U.S. and Israeli attacks
(Investing) – Oil prices were stable around pre-Iran war levels on Monday as Saudi Arabia slashed its official selling prices and after OPEC+ agreed to further increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering. Brent crude futures fell 4 cents, or 0.06%, to $72.08 a barrel at 1322 GMT after settling 0.45%
This week’s Baker Hughes Rig Count shows that the U.S. increased by 7 last week, resulting in a total count of 580 rigs. Canada decreased by 7 over last week, resulting in a total Canadian count of 190 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford, and the Permian experienced an increase this week.
