Post Tagged with: "Production"

Source: Oil Price

North Dakota oil production climbing back faster than anticipated

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 …

Source: Reuters

U.S. crude production breaks records

Oil Price


U.S. crude oil production hit an all-time high in August, according to new data published by the Energy Information Administration on Tuesday, with production surpassing pre-covid levels. U.S. field production of crude oil reached 404.6 million barrels during …

Source: Reuters

U.S. crude oil production surges to record high in Q3 2023, EIA reports

World Oil


(Bloomberg) – U.S. crude oil production surged to a record during the third quarter and is expected to climb further above 13 MMbpd as the nation increasingly plays a vital role in supplying global markets.

U.S. oil production …

U.S. oil and gas production begins to flatten: Kemp

U.S. oil and gas production begins to flatten: Kemp

Nasdaq


LONDON – U.S. crude oil production was essentially flat in May compared with April – a sign lower prices and a slowdown in drilling activity are finally causing output to peak and turn down. Crude and condensates production for …

SM Energy announces certain second quarter 2023 activity: 2.6 million shares repurchased, production up, capital expenditures down, and entered agreements to acquire 22,800 oily net acres

SM Energy announces certain second quarter 2023 activity: 2.6 million shares repurchased, production up, capital expenditures down, and entered agreements to acquire 22,800 oily net acres

Oil and Gas 360


Publisher’s Note: SM Energy will be a presenter at the 28th annual EnerCom Denver – The Energy Investment Conference that brings together energy companies, investors, analysts, and key industry leaders. Register to attend at www.enercomdenver.com

Source: Reuters

Shale R&D cuts cast shadow on future of US oil production

Yahoo Finance


Shale technology advances that propelled the U.S. to the top global oil producer spot with world-beating growth rates are falling fewer and farther between as drilling budgets shrink and with them, the research and development that might deliver …

Source: Reuters

U.S. oil exports may be rising but production isn’t

Oil Price


Exports of crude oil from the United States have surged since Russia invaded Ukraine last year, with Europe turning into the biggest buyer of U.S. crude. The story is pretty much the same as in gas. And so …

Source: Reuters

Future of U.S. shale drilling dependent on Q4 earnings

World Oil


(Bloomberg) — U.S. shale companies are set to post yet another strong set of earnings, off the back of robust oil and gas prices in the fourth quarter. But the biggest question for analysts and investors remains whether …

Business groups urge Biden administration to support domestic energy production, offshore leasing program

Business groups urge Biden administration to support domestic energy production, offshore leasing program

World Oil


The American Petroleum Institute, Consumer Energy Alliance, Louisiana Mid Continent Oil and Gas Association, National Oceanic Industry Association and U.S. Chamber of Commerce today joined with more than 80 trade groups representing a diverse cross section of industries …

June 6, 2022 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News
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: Reuters

Volatile energy markets are here to stay, global watchdog warns

CNBC


Energy prices around the world are at record highs as a power crunch hits Europe and Asia — and the International Energy Agency warned Wednesday that volatility is here to stay.

In its annual report, the Paris-based agency said …

Source: Reuters

COLUMN-How high are oil prices really? Kemp

Nasdaq


How high are oil prices really and what signal are they currently sending to producers and consumers about the need for more output and lower fuel use?

The strength of a price signal depends on both the real level …

Source: Reuters

Saudi Arabia may raise Sept crude prices for 2nd month

Reuters


SINGAPORE – Top oil exporter Saudi Arabia is expected to raise prices across various grades of crude oil it sells to Asia in September for a second straight month, tracking the strength in Middle East benchmarks, trade sources said.…

Source: Reuters

Oil slips but set to end week steady on tight supply

Reuters


LONDON – Oil slipped further below $74 a barrel on Friday but was on track to end the week little changed after a surprising recovery from Monday’s slide, underpinned by expectations that supply will remain tight as demand recovers.…

Colombia’s Ecopetrol 2020 net profit down 87.3%, to invest up to $15 billion by 2023

Colombia’s Ecopetrol 2020 net profit down 87.3%, to invest up to $15 billion by 2023

Reuters


BOGOTA – Colombia’s majority state-run oil company, Ecopetrol, will make up to $15 billion of organic investment between 2021 and 2023, it said on Tuesday, as it reported an 87.3% drop in 2020 net profit.Colombia's Ecopetrol 2020 net profit down 87.3%, to invest up to $15 billion by 2023- oil and gas 360The company will invest …

Source: Reuters

Oil producers eye long road to recovery as Texas begins to thaw

Reuters


NEW YORK – Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as …

Source: Reuters

Oil prices close to 13-month highs, supported by Texas cold snap

Reuters


LONDON- Oil prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in the oil-producing state of Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe.…

Source: Reuters

Oil hits 13-month highs as market re-balances

Reuters


LONDON – Oil prices soared on Monday to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply reined in.

Brent crude was up 88 cents, or 1.4%, at $63.31 a barrel …

Northern Oil and Gas, Inc. Announces Business and Operations Update

Northern Oil and Gas, Inc. Announces Business and Operations Update

Oil and Gas 360


Northern Oil and Gas, Inc. Announces Business and Operations Update

Northern Oil and Gas, Inc. Announces Business and Operations Update- oil and gas 360

 

HIGHLIGHTS

  • Reaffirms mid-point of Q4 2020 production guidance and narrows range to 34,000 – 36,000 Boe per day
  • Reiterates 2021 $40+ WTI base case outlook
Source: Reuters

Battered energy sector could get reprieve from ‘golden cross’ chart signal

Reuters


Energy, Wall Street’s worst performing industry in 2020, could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday.

The bullish development in S&P 500 energy sector …

December 31, 2020 - 2:30 pm Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

A historic oil price collapse, with worries headed into 2021

Reuters


NEW YORK – This year was like no other for oil prices.

Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility. In April, U.S. crude …

Source: Reuters

Analysis-U.S. shale oil just had its worst year and the pain could bleed into 2021

Reuters


HOUSTON/NEW YORK  – U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good.

Deep spending cuts that …

Source: Reuters

OPEC cuts 2021 oil demand outlook again as pandemic impact lingers

Reuters


LONDON – Global oil demand will rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus pandemic, OPEC said on Monday, hampering efforts by the group and its allies to support the market.…

December 14, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

U.S. offshore oil workers flee as storm Zeta heads toward Gulf of Mexico rigs

Reuters


HOUSTON – Oil producers on Monday were evacuating offshore production platforms in the U.S. Gulf of Mexico as the 27th named storm of the season strengthened overnight and looked likely to threaten the United States as a hurricane.

BP, …

October 26, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Source: Reuters

ExxonMobil CEO warns of job cuts coming for employees in US, Canada

Fox Business


ExxonMobil Chairman and CEO Darren Woods warned that job cuts are coming for employees in the U.S. and Canada as part of an ongoing plan announced earlier this year to “redesign work processes and improve cost competitiveness.”

While …

October 22, 2020 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Jobs
Source: Reuters

Russia’s Novak says premature to talk about OPEC+ plans beyond 2020

Reuters


MOSCOW – Russia’s energy minister said on Tuesday it was too early to discuss the future of global oil production curbs beyond December, less than a week after saying plans to reduce the output restrictions should proceed.

OPEC and …

October 20, 2020 - 12:07 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

OPEC+ will ensure oil prices do not plunge again, says OPEC chief

Reuters


LONDON – The OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, OPEC’s Secretary General said on Thursday, adding that demand has been recovering more slowly …

Source: Reuters

Oil prices fall as supply concerns ease

Reuters


LONDON – Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended and U.S. producers began restoring output after Hurricane Delta.

Brent crude LCOc1 fell 57 cents, or 1.3%, …

Source: Reuters

OPEC, in major shift, says oil demand to plateau in late 2030s

Reuters


LONDON – World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus …

Source: Reuters

Six Norway oil and gas fields shut as strike escalates

Reuters


OSLO – Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said.

The strike will cut Norway’s total output capacity by just over 330,000 barrels …

October 5, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News