Oil Price North Dakota’s production of crude oil is returning to full force at a quicker pace than first suggested by authorities, new data from the state’s regulator showed on Friday. Crude oil production in the Peace Garden State is now down by between 30,000 and 80,000 bpd after extreme cold led to operational challenges. Associated natural gas production—the natural
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 2 over last week, resulting in a total count of 621 rigs. Canada had a decrease of 7 over last week, resulting in a total Canadian count of 230 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford,
Oil Price The OPEC+ group doesn’t have any plans to alter the current oil production policy and cuts when the alliance’s monitoring panel meets next week, OPEC+ delegates told Bloomberg on Friday. OPEC’s Joint Ministerial Monitoring Committee (JMMC), which takes stock of oil market developments and recommends actions to the full ministerial meetings, is scheduled to hold an online meeting on February 1. Part
US News LONDON -Oil eased on Friday but was heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand sentiment, while Middle East supply concerns added further support. The United States, the world’s biggest oil consumer, registered faster than expected economic growth in the fourth quarter, data showed on Thursday. Oil demand
Oil and Gas 360 January 25, 2024 Reported net income attributable to Valero stockholders of $1.2 billion, or $3.55 per share, for the fourth quarter and $8.8 billion, or $24.92 per share, for the year Reported adjusted net income attributable to Valero stockholders of $8.8 billion, or $24.90 per share, for the year Returned $1.3 billion to stockholders through dividends
Natural Gas Inventories as of January 19, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 356 Bcf as of January 19, 2024. Working gas in storage was 2,856 Bcf as of Friday, January 19, 2024, according to EIA estimates. This represents a net decrease of 326 Bcf from the previous week. Stocks were
Oil & Gas 360 ENGLEWOOD, Colo., Jan. 24, 2024 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), a leading carbon abatement company that commercializes drop-in fuels and chemicals for difficult to decarbonize sectors, today provided a business update. Gevo also expects to publish an updated corporate investor presentation to its website. RNG: Non-GAAP cash EBITDA of $7-16 million is expected in
Nasdaq West Africa-focused Tullow Oil TLW.L said on Wednesday it was on track to deliver about $600 million free cash flow over the next two years to achieve its stated target of $800 million from 2023 to 2025, sending its shares about 8% higher. The London-listed oil and gas explorer said the start-up of Jubilee South East offshore Ghana drove production and
Oil Price Traders are selling West Texas Intermediate futures in anticipation of further strong production growth. As a result, prices are weakening further despite the uncertainty of such an outlook. In fact, expectations from the industry and the EIA are for much slower U.S. oil production growth this year. But that has had no effect on trader behavior. The latter
Oil Price Global oil demand remains pretty solid and could surprise to the upside this year, tightening market balances and potentially leading to higher prices, Claudio Galimberti, head of global oil macro research at Rystad Energy, told Bloomberg in an interview this week. So far into 2024, oil prices have remained stuck in a narrow trading range of around $75 to $80
BOE Report Oil prices were little changed in Asian trading on Wednesday as weak demand and a recovery in supply limited the market’s reaction to mounting geopolitical risk. The front-month March contract for Brent crude inched up 5 cents to $79.60 a barrel as at 0138 GMT. U.S. West Texas Intermediate crude ticked up 7 cents to $74.44 a barrel.
Oil and Gas 360 Net income of $0.74 per diluted share. Adjusted net income per diluted share1 of $0.86, excluding losses in Argentina primarily due to currency devaluation. Revenue of $5.7 billion and operating margin of 18%. Cash flow from operations of $1.4 billion and free cash flow2 of $1.1 billion. 2024 first quarter dividend increases by $0.01 per share to $0.17 per share. HOUSTON–(BUSINESS WIRE)–Jan. 23, 2024– Halliburton Company (NYSE: HAL) announced today net income of $661 million,
