Yahoo Finance U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillips the $22 billion deal to acquire Marathon Oil,
World Oil Publisher’s Note: APA Corporation will be presenting at EnerCom Denver- The Energy Investment Conference, August 18-21, 2024. Register to attend. (WO) – At the 2024 Suriname Energy Oil and Gas Summit, Javier Rielo, Senior Vice President Americas, Exploration & Production for TotalEnergies, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V, the Suriname National Oil Company, announced several
Oil Price The energy ministers of heavyweight OPEC+ producers dismissed the bearish market reaction to the group’s latest oil production plan, saying that market participants and analysts will realize soon that the alliance did the right thing in communicating its intentions. While OPEC+ extended this weekend most oil output reductions into 2025, it said it could begin unwinding some voluntary cuts after
World Oil (WO) – The second day of the Energy NL Annual Conference & Exhibition 2024 got underway today with a morning address by the Honourable Seamus O’Regan Jr., Minister of Labour and Seniors, who outlined the Government of Canada’s efforts to support energy development, including amendments to the Atlantic Accord. Following Minister O’Regan, Gary Murray, President and CEO, Newfoundland
Oil Price The $12-billion secondary share offering of Saudi oil giant Aramco has drawn strong demand from foreign investors, sources with knowledge of the matter told Bloomberg on Thursday. Saudi Aramco launched on Sunday a secondary public offering of 1.545 billion shares of the company, representing approximately 0.64% of the company’s issued shares. Aramcos’s share offer sold out in hours after opening
Natural Gas Inventories as of May 31, 2024 The EIA has released its natural gas inventory report, showing a net increase of 98 Bcf as of May 31, 2024. Working gas in storage was 2,893 Bcf as of Friday, May 31, 2024, according to EIA estimates. This represents a net increase of 98 Bcf from the previous week. Stocks were
World Oil (WO) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released new research that analyzes which oil and gas plays show the greatest rate of increase in drilling speeds and whether well costs correlate with drilling speeds. In addition, the report looks at how well designs are affecting drilling efficiencies. “Cost reduction efforts to improve capital efficiency
Oil Price U.S. officials and lawmakers have recently met with Venezuelan opposition politicians and supervisors of state-owned refiner Citgo Petroleum, as Venezuela seeks to pause an ongoing court-ordered auction of shares, sources close to the discussions have told Reuters. The sale process of shares to pay creditors and claimants against Venezuela’s oil asset appropriation and debts owed by Citgo was launched by a
U.S. News WASHINGTON – The United States could revive some of its recently retired nuclear power plants to help meet rising demand for zero-emissions electricity, or add reactors to existing sites, Energy Secretary Jennifer Granholm said in an interview. The administration of President Joe Biden believes nuclear power is critical to meeting greenhouse gas reduction goals and decarbonizing the economy
Yahoo Finance (Bloomberg) — Oil advanced from a four-month low as traders tried to establish a price floor after several days of declines. West Texas Intermediate rose after five straight days of losses, hovering near $74 per barrel. The market had entered oversold territory as a result of OPEC+’s plan to boost supply in October. Prices edged lower earlier in
Weekly Crude Oil Storage as of May 31, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.2 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
Oil Price OPEC’s crude oil production rose by 145,000 barrels per day (bpd) in May compared to April, as Iraq continues to pump above its quota and boosted output alongside African producer Nigeria, the monthly Reuters survey showed on Tuesday. OPEC produced a total of 26.63 million bpd in May, an increase of 145,000 bpd compared to April, according to the Reuters
