OAG360 – Page 37 – Oil & Gas 360

Prairie Operating Co. announces effective date of reverse stock split, corporate name change and stock symbol change

October 16, 2023

Oil and Gas 360 HOUSTON, TX, Oct. 16, 2023 (GLOBE NEWSWIRE) — Prairie Operating Co. (OTCQB: CRKR; the “Company” or “Prairie”) today announced that on October 12, 2023, the Company filed with the Delaware Secretary of State a Certificate of Amendment to the Certificate of Incorporation of the Company, effective as of earlier today, to effect a reverse stock split

Argentina energy mogul bets on shale gas amidst looming presidential election

October 16, 2023

World Oil (Bloomberg) – To get to Marcelo Mindlin’s desk in his downtown Buenos Aires office, guests must walk past a big steel ring — a cross-section of natural gas pipeline. The hunk of metal epitomizes the views of Mindlin, and Argentina’s leaders, on the future of energy: Even as electrification gathers speed, fossil fuels will be needed for decades to

As oil majors cast shale nets, Texas oilman Sheffield made Pioneer the prized catch

October 16, 2023

Nasdaq HOUSTON – Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top U.S. shale basin and plotted to make his then-$24 billion Pioneer Natural Resources PXD.N the oilfield’s biggest prize. The CEO concentrated the business, exiting less productive properties and dumping an in-house service arm, and set out a mission to make Pioneer the leanest,

Oil falls below $90 a barrel on report of US-Venezuela deal

October 16, 2023

Investing HOUSTON -Oil futures fell on Monday on a report the U.S. and Venezuela could soon reach a deal to ease sanctions on Venezuela if a presidential election date is set, while traders see the Israel-Hamas conflict not affecting crude supplies in the short term. Brent futures were down 59 cents, or 0.67%, at $90.27 a barrel at 10:30 CDT (1532

COLUMN-Investors dumped oil among fastest rates in last decade: Kemp

October 16, 2023

Nasdaq LONDON – Portfolio investors have dumped positions in petroleum at some of the fastest rates in the last decade in the most recent week as the bullish sentiment that built up after OPEC⁺ production cuts evaporated. Investors reacted negatively to the end of the squeeze on inventories around the NYMEX delivery point, oil prices breaking lower, rising borrowing costs,

Shell shares hit record high with stronger focus on oil, gas business

October 16, 2023

World Oil (Bloomberg) – Shell Plc shares hit a record high as rising energy prices and the new CEO’s stronger focus on the core oil and gas business attracted investors. Shares of the company rose as high as 2,763 pence in London on Monday, marking a threefold increase from the pandemic-era low of 878.3 pence three years ago. The price

Shale drillers must merge with diversified companies to survive long term, Pioneer CEO says

October 13, 2023

World Oil (Bloomberg) – The independent shale drillers that undermined OPEC’s decades-long grip on global oil markets soon will be a thing of the past as they merge with international giants, according to one of the industry’s founding members. Pure-play shale drillers will be acquired by larger companies within the next five years amid intensifying financial pressures and demand for

Expansion of rice whale’s critical habitat in Gulf of Mexico to negatively impact oil, gas operations, Texas regulator warns

October 13, 2023

World Oil AUSTIN- The Railroad Commission of Texas has submitted comments in response to the National Marine Fisheries Service (Service) proposal to designate a huge swath of waters in the Gulf of Mexico – approximately 28,270 square miles – as expanded critical habitat for the Rice’s whale without sufficient data. The zealous proposal may lead to major limitations when transporting

EXPLAINER-What impact will the Israel/Hamas war have on oil?

October 13, 2023

Nasdaq LONDON – A war between Islamist group Hamas and Israel poses one of the most significant geopolitical risks to oil markets since Russia’s invasion of Ukraine last year. While oil flows have not yet been affected, analysts and market observers point to two major implications if the conflict escalates. First, the U.S. could tighten or step up enforcement of

ANALYSIS-Diesel release valve: China poised to save West from shortages again

October 13, 2023

Nasdaq As the northern hemisphere heads into winter, the U.S. and European oil sectors are counting on rising exports from Chinese refineries to ease tight global supplies of diesel, heating oil and jet fuel. China is the world’s top oil importer and largest energy consumer. Typically, energy has flowed into China, not out of it. Growing Chinese refining capacity has,

France mulls extending windfall tax on oil and power giants

October 13, 2023

Oil Price France is considering an extension of its windfall tax for oil and power companies into the new year, according to French lawmaker Jean-Rene Cazeneuve, who shared the plan on X. The plan, hatched by the National Assembly’s finance committee, is part of a proposed amendment to France’s budget bill for 2024 and would serve to offset higher costs for

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had a decrease of 3 this week, at 622

October 13, 2023

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 3 over last week, resulting in a total count of 622 rigs. Canada had a decrease of 13 over last week, resulting in a total Canadian count of 193 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Eagle Ford,

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