Market volatility has crude oil prices making huge swings, both up and down, with markets reacting to even just a …
HOUSTON, TX–(Marketwired – Feb 12, 2016) – Yuma Energy, Inc. (NYSE MKT: YUMA) (NYSE MKT: YUMA-PA) (“Yuma”) and privately held Davis Petroleum Acquisition Corp. (“Davis”) jointly announced today that they have entered into a definitive merger agreement for an all-stock …
Prices for U.S. crude oil benchmark WTI were up over 12% at 1:20 p.m. EST today on continued hopes that OPEC would cut production in order to bolster …
The U.S. rig count continued to fall in the week ended February 12, 2016, according to the latest information from Baker Hughes (ticker: BHI, BakerHughes.com). In the last six months, the total number …
The people working in American industry can be pretty darned resilient and very creative when markets get rough. Oil and gas producers and oilservice companies are certainly …
From Bloomberg.
Russia’s deficit goal is in jeopardy this year after crude resumed its selloff, leaving the government few options to stabilize public finances, according to Moody’s Investors Service.
“The new fall in oil prices poses significant difficulties for achieving …
From Bloomberg.
A defense Canadian oil producers had against the plunging price of crude is crumbling as hedges expire amid projections that crude will continue to decline.
Hedges that shielded companies such as Crescent Point Energy Corp. and Whitecap Resources …
From Bloomberg.
Repsol SA plans to shut down its unprofitable Varg oil deposit in the North Sea, the first time a Norwegian field will be closed because of the crude-price collapse.
“Varg has been cash-negative since August 2015,” the company …
From the EIA:
EIA’s Petroleum Supply Monthly, published on January 30, includes crude oil production estimates for Oklahoma based on EIA monthly survey data. The new estimates are roughly 100,000 barrels per day more than those generated by the …
From the USA Today
DETROIT — In matter of weeks, maybe days, Midwest motorists will see gasoline prices drop below $1 a gallon for the first time since 1999, but the stock market is in a depressive funk.
What gives? …
The price of oil today approached a new low of $26.21 per barrel today, the lowest since May 8, 2003, when it hit $26, before bouncing up on news of a …
The continued growth of global economies will continue to drive demand for energy around the world, according to BP’s (ticker: BP, BP.com) 2016 Energy Outlook.
According to the …
A press release from Royal Dutch Shell (ticker: RDSA, Shell.com) today announced that the company has received permission to complete its $70 billion purchase of …
From Reuters
LONDON (Reuters) – The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni <ENI.MI>, Exxon <XOM.N> and Statoil <STL.OL>, allowing them to explore …
From the EIA:
Tight oil production in the United States increased from 2007 through April 2015, based on estimates in EIA’sDrilling Productivity Report (DPR), and accounted for more than half of total U.S. oil production in 2015. Tight oil …
Wilks Brothers, LLC (the “Offeror“) announced that it has acquired ownership of an aggregate of 3,034,000 additional common shares (the “Common Shares“) in the capital of Trican Well Service Ltd. (the “issuer“) on the …
From Reuters
LONDON (Reuters) – Britain will offer more flexible North Sea oil and gas licences in its next tender round, the head of Britain’s oil regulator said on Thursday, a bid to make exploration work in the mature basin …
From BNN:
Much as oil spilled from a broken pipeline will slowly seep into topsoil, the effects of the ongoing crash in crude prices is spreading across the Canadian economy.
The more obvious consequences – billions of dollars in lost …
From Bloomberg:
Fuel producers from India to South Korea are finding that rising refined products from China are cutting the profit margins they’ve enjoyed from cheap oil to the lowest in more than a year. Worse may be coming.
China’s …
From Calgary Herald:
Alberta’s auditor general criticized Alberta Energy Wednesday for failing to assess the performance of its oil and gas royalty reduction programs and for failing to assess the potential impacts of a cyber attack on the industry.
With …
From the Silicon Valley Business Journal
Google won an important battle in a larger war last week when the National Highway Traffic Safety Administration (NHTSA) told the company that it would consider the artificial intelligence system that pilots its autonomous …
Williams Partners L.P. (NYSE: WPZ) announced today that it has executed long-term contracts with two shippers for Gulf Connector, a 475,000 dekatherm per day expansion of the Transco pipeline system to connect U.S. natural gas supplies with global liquefied natural …
From the San Francisco Business Times
Wells Fargo prompted some to do a double-take this week when it provided more details on its exposure to the troubled oil-and-gas industry as investors gauge the fallout of plunging oil prices on the …
From the Durango Herald
Lines have been drawn over a Master Leasing Plan being considered by the Bureau of Land Management that would dictate where oil and gas development would be allowed on BLM-controlled lands.
…
In this multi-part interview, NAPIA and Energy Directions President Mike Smolinski talks about oil demand, supply, price shocks, and a coming rebalance, with a detailed look at how today’s oil market fundamentals will affect U.S. oil and gas producers, oilservice …
From Reuters:
The U.S. Department of Energy approved ConocoPhillips’ application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export terminal in Alaska over the next two years starting Feb. 19.
The Kenai …
From CBC:
Oil producing Saskatchewan First Nations are suing the federal government in a class action lawsuit. They say the government hasn’t done enough to develop the resources on First Nations.
The lawsuit is being represented by Poundmaker Cree Nation …
From The Wall Street Journal:
Kuwait plans to increase its crude production by 150,000 barrels a day by the third quarter of the year despite the current slump in oil prices, the managing director of international marketing at Kuwait Petroleum …
From The Wall Street Journal:
Oil’s sharp rally quickly deflated Wednesday after traders focused on growing stockpiles of gasoline and distillates as evidence of the stubborn glut in oil markets.
Oil prices shot up more than $1 in about two …
