Crude Oil News

U.S. rig count increased by 8 this week, at 392

U.S. rig count increased by 8 this week, at 392

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had an increase of 8 over last week, resulting in a total count of 392 rigs. Canada had a decrease of 3 over last week, resulting in …

Source: Reuters

Lack of overhauls at U.S. refiners could stall industry recovery

Reuters


NEW YORK/HOUSTON – U.S. oil refiners are predicting a strong recovery in fuel demand in the second half of this year as vaccination rates increase and workers are expected to resume commuting and taking vacations.

But oil processors appear …

February 5, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Oil hits highest in a year on growth hopes, OPEC+ cuts

Reuters


NEW YORK – Oil prices hit its highest in a year on Friday, closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies.

Oil was also supported as …

Northern Oil and Gas, Inc. Announces Transformational Acquisition in the Marcellus Shale

Northern Oil and Gas, Inc. Announces Transformational Acquisition in the Marcellus Shale

HIGHLIGHTS Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern&…

Source: libertyfrac.com

Liberty Oilfield Services Inc. announces Fourth Quarter and Full Year 2020 financial and operational results

Oil and Gas 360


Publishers Note: Please join us at The Energy Venture Investment Summit presented by EnerCom and Colorado School of Mines, Liberty Oilfield Services Chief Executive Officer, Chris Wright will be one of our keynote speakers this coming

The Energy Venture Investment Summit-Transitional Energy Interview

The Energy Venture Investment Summit-Transitional Energy Interview

Oil and Gas 360


Publishers Note: A Greener Future with Renewable Baseload Geothermal Energy: Transitional Energy – Presenting at The Energy Venture Investment Summit presented by Colorado School of Mines and EnerCom – Feb 10 – 11, 2021. 

Exclusive

The Energy Venture Investment Summit-Atargis Energy Interview

The Energy Venture Investment Summit-Atargis Energy Interview

Oil and Gas 360


Publishers Note: A new wave energy converter to enable utility scale power production: Atargis Energy – Presenting at The Energy Venture Investment Summit presented by Colorado School of Mines and EnerCom – Feb 10 – 11,

Source: Reuters

Chesapeake Energy cuts 15% of workers as it emerges from bankruptcy

Reuters


U.S. shale oil and gas producer Chesapeake Energy Corp plans to cut 15% of its workforce, an email sent to employees revealed, as it closes on new financing that will allow it to emerge from bankruptcy court protection next …

Source: Reuters

Sumitomo quits U.S. shale oil with sale of Eagle Ford stake

Reuters


TOKYO  – Japanese trading house Sumitomo Corp has quit the shale oil business in the United States by selling its stake in a project in the Eagle Ford during the October to December quarter of 2020, a company spokesman …

FSource: euters

Reliance’s unit to sell Marcellus shale assets for $250 million

Reuters


BENGALURU – Reliance Industries Ltd said on Thursday its unit will sell its interest in certain upstream assets in the Marcellus shale in the United States for $250 million in cash to Northern Oil and Gas Inc.

The assets, …

Source: Reuters

Royal Dutch Shell Plc Fourth Quarter 2020 Interim Dividend

Oil and Gas 360


The Hague, February 4, 2021 – The Board of Royal Dutch Shell plc (“RDS” or the “Company”) today announced an interim dividend in respect of the fourth quarter of 2020 of US$ 0.1665 per A ordinary …

Patterson-UTI Energy Reports Financial Results for the Three Months and Year Ended December 31, 2020

Patterson-UTI Energy Reports Financial Results for the Three Months and Year Ended December 31, 2020

Patterson-UTI Energy Reports Financial Results for the Three Months and Year Ended Decemb…

Argentina’s Vaca Muerta tight oil deposit is now producing at record levels, matching US well scores

Argentina’s Vaca Muerta tight oil deposit is now producing at record levels, matching US well scores

Rystad Energy


February 3, 2021

The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a

EnerCom and Colorado School of Mines invite you to The Energy Venture Investment Summit, February 10 – 11, 2021

EnerCom and Colorado School of Mines invite you to The Energy Venture Investment Summit, February 10 – 11, 2021

Oil & Gas 360


EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announce a preliminary list of Presenting Companies and Keynote speakers for the first annual

February 3, 2021 - 3:40 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
Source: Reuters

Exclusive: Private equity firm bids for Canada’s idled Come-by-Chance refinery

Reuters


Private equity firm Cresta Fund Management has offered to buy a majority stake in North Atlantic Refining Ltd (NARL), owner of the idled Canadian 135,000 barrel-per-day Come-by-Chance refinery, according to a letter reviewed by Reuters.

The Dallas-based firm said …

Source: Reuters

Big Oil CEO says going green ‘will have a cost for everybody’ — and governments need to explain that

CNBC


LONDON — The chief executive of French oil major Total called on governments to explain the cost of carbon neutrality pledges, urging policymakers to make the “affordability” of an energy transition clear to everybody.

His comments come at a

Source: Reuters

Earthstone provides update, 2021 guidance and announces proved reserves

Eathstone Energy


Record Annual Production Beats Top End of 2020 Full Year Guidance by 6%; Planned Resumption of Drilling Program

 

Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone”, the “Company”, “our” or “we”), today provided an operations

Source: Reuters

Repsol hires JPMorgan to spin off renewables unit, El Confidencial reports

Reuters


MADRID – Spanish oil and gas company Repsol has hired JPMorgan as an investment bank to spin off its renewable unit as early as June, Spanish on-line media El Confidencial reported on Wednesday citing financial sources.

The Spanish company …

February 3, 2021 - 1:30 pm Crude Oil News, Energy News, International, Renewable Energy
Source: Reuters

Pandemic pushes Exxon to historic annual loss, $20 billion cut in shale value

Reuters


HOUSTON -Exxon Mobil Corp on Tuesday posted a historic annual loss after the COVID-19 pandemic hammered energy prices and the company reduced the value of shale gas properties by more than $20 billion.

loss, $20 billion cut in shale …

Source: Reuters

U.S. refiners talk up renewable projects after a year of lousy fuel demand

Reuters


Following a year of grim losses amid pandemic lockdowns that dented demand for fuel as people stuck close to home, the largest U.S. independent refiners are promoting plans to boost production of renewable fuels.

Renewable fuels represent a silver …

Source: Reuters

Oil prices near 1-year highs after stocks drawdown, supply deficit forecast

Reuters


LONDON – Both benchmark oil contracts hovered near their highest levels in about a year on Wednesday, boosted by a drawdown in U.S. crude and gasoline stocks that added to demand recovery hopes fueled by OPEC+’s forecast of a …

Source: Reuters

OPEC+ maintains oil policy amid price rally

Reuters


LONDON – OPEC+ maintained its oil output policy at a meeting on Wednesday as the price of crude hit its highest in almost a year, a sign that deep supply cuts are draining inventories despite an uncertain outlook for …

U.S. crude oil inventories decrease by 1.0 million barrels

U.S. crude oil inventories decrease by 1.0 million barrels

Weekly Crude Oil Storage as of January 29, 2021

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.0 million barrels from the previous week. At 475.7 million barrels, U.S. crude oil …

EnerCom and Colorado School of Mines invite you to The Energy Venture Investment Summit, February 10 – 11, 2021

EnerCom and Colorado School of Mines invite you to The Energy Venture Investment Summit, February 10 – 11, 2021

Oil & Gas 360


EnerCom, Inc., a nationally recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announce a preliminary list of Presenting Companies and Keynote speakers for the first annual

February 2, 2021 - 3:40 pm Closing Bell Story‎, Crude Oil News, Energy News, TOGC25
The Energy Venture Investment Summit-US Strategic Minerals Interview

The Energy Venture Investment Summit-US Strategic Minerals Interview

Oil and Gas 360


Publishers Note: A new dawn of commercialization of CO2 capture: US Strategic  Minerals – Presenting on February 11, 2021 at 9:25 a.m., at The Energy Venture Investment Summit presented by EnerCom and Colorado School of

The Energy Venture Investment Summit-Cowboy Clean Fuels Interview

The Energy Venture Investment Summit-Cowboy Clean Fuels Interview

Oil and Gas 360


Publishers Note: Utilize subsurface coal seams as geobio-reactors to produce low-carbon renewable natural gas : Cowboy Clean Fuels – Presenting on February 11, 2021 at 9:05 a.m. at  The Energy Venture Investment Summit presented by

Source: CNBC

An industry ‘operating on borrowed time’: Energy experts on the increasing risks ahead for Big Oil

CNBC


LONDON — Big Oil endured a brutal 12 months by virtually every measure last year and the global oil and gas industry faces significant challenges and uncertainties as it seeks to recover.

In 2020, the coronavirus pandemic coincided with …

February 2, 2021 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Pandemic drives oil major BP to first loss in a decade

Reuters


LONDON – BP plunged to a $5.7 billion loss last year, its first in a decade, as the pandemic took a heavy toll on oil demand, and the energy company warned of a tough start to 2021 amid widespread …

Source: Reuters

OPEC experts meet as rising oil prices mask demand worries

Reuters


LONDON -OPEC+ experts were holding a virtual meeting on Tuesday as a rise in oil prices to their highest in almost a year masked persistent concerns about a recovery in oil demand.

The Joint Technical Committee began its meeting …

Source: Reuters

ExxonMobil reports results for fourth quarter 2020 and provides perspective on forward plans

Oil and Gas 360


Fourth Quarter and Full-Year 2020 Results

 

  • Fourth quarter loss of $20.1 billion included unfavorable identified items of $20.2 billion, primarily non-cash impairments; earnings excluding identified items were $110 million, or $0.03 per share assuming dilution