Exploration and Production (E&P)

Source: World Oil

Shell may restart hurricane-hit Gulf platforms ahead of schedule

World Oil


(Bloomberg) –Royal Dutch Shell is hoping to restart its Ursa oil and gas platform in the U.S. Gulf of Mexico as early as the first half of November, according to a person familiar with the matter who asked …

Source: Reuters

Guyana seeks a 135-mile subsea gas pipeline to extend its energy win streak

World Oil


HOUSTON (Bloomberg) –Guyana will likely become one of South America’s top oil producers over the next four years, but the world’s newest petrostate increasingly sees gas as the bedrock for growing its domestic economy.

Work will begin on …

Source: Reuters

OPEC misses crude output targets, straining global oil supply

World Oil


(Bloomberg) –OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic.

OPEC+ cut its production 15% deeper than planned in …

Source: CNBC

After the gas crisis, the Arctic could be Russia and Europe’s next flashpoint

CNBC


A new cold front could open up in the political tension between the European Union and Russia over energy. This time in the Arctic.

 

On Wednesday, the EU put forward proposals that could see it pushing to ban

Source: Reuters

Oil above $80 spurs a Permian shale drilling revival

World Oil


HOUSTON (Bloomberg) –Oil prices around $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks.

Only this time, the surge …

Source: Reuters

Shell flags $400 million hurricane hit, but boost from soaring prices

Reuters


LONDON (Reuters) – Royal Dutch Shell warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August’s Hurricane Ida.

However, in an update ahead of quarterly results this month, the oil major also …

Source: Reuters

Column-Hurricane Ida’s lingering effects tighten global oil market: Kemp

Reuters


LONDON – Hurricane Ida’s extensive and unexpectedly lingering disruption to output in the Gulf of Mexico has been the single most important factor contributing to the surge in oil prices over the last month.

Damage to offshore installations has …

Source: World Oil

Record operating costs are slowing the U.S. shale drilling revival

World Oil


HOUSTON (Bloomberg) –America’s oil producers are boosting output at a slower place as record costs hammer the shale patch, according to a survey of industry executives.

Out of 47 responding companies that supply producers with everything from software …

Oil will climb to $90 by year-end: Goldman Sachs

Oil will climb to $90 by year-end: Goldman Sachs

Fox Business


Goldman Sachs Group Inc. raised its forecast for global crude oil prices to reach $90 per barrel by the end of this year, up from $80, due to supply disruptions in the Gulf of Mexico and signs of …

Source: Reuters

Fossil fuel extraction limits coming, says U.S. Interior Secretary

World Oil


WASHINGTON (Bloomberg) –Interior Secretary Deb Haaland suggested a sharply limited role for fossil fuel extraction on U.S. federal lands and waters in her most expansive comments yet on the administration’s overhaul of oil and gas leasing.

She said …

Source: Reuters

Oil heads for third week of gains as supply tightens

Reuters


LONDON  -Oil prices declined on Friday to $77 a barrel, holding near a three-year high as they headed for a third straight week of gains, supported by global output disruptions and inventory draws.

The rally was slightly dampened by …

Source: Reuters

Oil prices at two-month highs on tight supplies

Reuters


LONDON – Oil prices rose on Thursday, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.

Brent crude was up 28 cents, or 0.4%, …

Source: Reuters

OPEC warns natural gas crisis may create oil market turbulence

World Oil


(Bloomberg) –As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets.

Iraq expects higher demand for crude as the shortfall of gas forces consumers to look …

Source: Reuters

Oil prices rise on falling U.S. crude inventories

World Oil


(Bloomberg) –Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes.

West Texas Intermediate …

Source: Reuters

Oil set for fourth weekly gain with high energy prices in focus

World Oil


(Bloomberg) –Oil headed for a fourth weekly gain supported by signs of a tighter market and a wider rally in energy prices.

West Texas Intermediate, which dipped on Friday, has still climbed about 4% this week. Investors have …

Source: World Oil

Oil prices climb as U.S. crude, gasoline inventories tighten

World Oil


SINGAPORE (Bloomberg) –Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market.

Global benchmark Brent rose above $74, while West Texas Intermediate advanced for a fourth day. The …

Source: Reuters

As oil-well backlog shrinks, U.S. shale may upset investors and drill more

Reuters


Publisher’s Note: Northern Oil and Gas, Inc. was a presenter at EnerCom’s The Oil & Gas Conference, view their replay at 1:00pm MST. 

U.S. energy producers have cut so deeply into a once-large reserve of oil wells waiting to …

Source: Reuters

OPEC sees oil supply disruptions boosting demand for its crude

World Oil


(Bloomberg) –OPEC predicted stronger demand for its crude on a combination of rising global fuel consumption and output disruptions elsewhere.

The latest data from the group indicate that the world will continue to face an oil supply deficit …

Source: Reuters

Oil rallies to $73 on tight U.S. supplies, Biden-Xi call

Reuters


LONDON – Oil rose to around $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost.

About …

Source: Reuters

EIA reports sharp decline in drilled but uncompleted shale well count

World Oil


WASHINGTON – Based U.S. Energy Information Administration’s latest Drilling Productivity Report, 5,957 drilled but uncompleted wells (DUCs) were in the United States in all DPR regions in July 2021, the lowest for any month since November 2017.

The …

Source: Reuters

Oil slides 2% on worries about weak demand

Reuters


CALGARY, Alberta – Oil prices fell on Tuesday on concerns about weak demand in the United States and Asia, although ongoing production outages on the U.S. Gulf Coast helped to limit losses.

Industry analysts said a strengthening U.S. dollar …

Source: Reuters

Oil steady as U.S. jobs report disappoints

Reuters


LONDON -Oil prices were steady on Friday after a U.S. jobs report indicated a patchy recovery amid the pandemic but the demand picture remained bright globally and the aftermath of a U.S. hurricane also checked losses.

Brent crude futures …

Source: Reuters

Democrats want to add new drilling bans to Biden’s $3.5T infrastructure bill

World Oil


WASHINGTON (Bloomberg) –Endangered desert fish would get millions of dollars in federal funding while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats.

The details were summarized …

Source: Reuters

Oil edges higher on US fuel demand, extends rally

Reuters


NEW YORK -Oil prices edged higher on Wednesday, extending gains for a third session, after U.S. government data showed that fuel demand has climbed to its highest since the start of the COVID-19 pandemic.

Brent crude rose 42 cents …

Source: Reuters

OPEC sticks to oil demand view despite virus, sees more U.S. shale coming

Reuters


LONDON -OPEC on Thursday stuck to its prediction of a strong recovery in world oil demand in 2021 and further growth next year, despite concerns about the spread of the Delta coronavirus variant that has weighed on prices.

The …

Source: Reuters

U.S. calls on OPEC and its allies to pump more oil

Reuters


U.S. President Joe Biden’s top aides are pressuring OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to global economic recovery.

Biden’s national security adviser Jake Sullivan criticized the …

Source: callon.com

Callon Petroleum’s Primexx acquisition sends its shares lower

World Oil


HOUSTON (Bloomberg) –Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch.

The Houston-based oil explorer agreed to buy closely held Primexx Energy Partners Ltd.

Murphy Oil Corporation Announces Second Quarter 2021 Results

Murphy Oil Corporation Announces Second Quarter 2021 Results

Exceeds Production Guidance, Accelerates Debt Reduction Plan, Publishes 2…

Source: World Oil

Halliburton and Voltagrid team to reduce Chesapeake Energy’s Marcellus shale emissions

World Oil


HOUSTON– Halliburton Company and VoltaGrid LLC announced the first successful deployment of an advanced electric fracturing solution. This project is the first pad in a multi-year contract with Chesapeake Energy Corporation with more than 140 stages in the …

Source: Reuters

Analysis: Riding the oil price rebound: Gulf states to accelerate asset sales

Reuters


DUBAI – Saudi Aramco and other Gulf oil producers are following in the footsteps of Abu Dhabi with plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalising on a rebound in crude …