Friday, February 7, 2025

Oil Prices Likely to Rally Through the End of 2016

Oil prices up over 1.5% as the end of the year approaches Both international and U.S. crude benchmarks were up over 1.5% Tuesday as oil prices continue to rally and 2016 draws to a close. U.S. crude oil prices have surged more than 25% since mid-November following the announcement that OPEC plans to cut production by roughly 1.2 MMBOPD starting

Iraq Valve- oilandgas360

Kurdistan Will Not Cooperate with Iraq on Production Cuts

Kurdistan says Iraq will need to shoulder the burden of cuts Iraq’s central government in Baghdad will be responsible for meeting the production cuts set forth in the OPEC production deal without Kurdistan, according to Kurdish news network Rudaw. Kurdish officials have dismissed claims that the Kurdistan Regional Government (KRG) will cooperate with the Iraqi central government on production cuts.

Mexico Delays Next Phase of Auctions as Fuel Scarcity Increases

Mexico will announce the winners in the second round of offshore auctions three months later than expected Mexico will delay the announcement of winners for Round 2 of its oil and gas auction in order to allow more companies to take part, and to incorporate modifications suggested by the industry. The delay will push the timeline back on announcing the

Resolute Energy Corporation Announces Closing of Common Stock Offering and Exercise of Option

Resolute Energy Corporation (NYSE: REN) (the “Company” or “Resolute”) today announced that it has closed its previously announced underwritten public offering of 4,370,000 shares of its common stock (the “common stock”), which includes the full exercise by the underwriters of their option to purchase an additional 570,000 shares of common stock. The net proceeds from the offering, including as a result

Natural Gas Jumps on Cold-Weather Forecasts

From The Wall Street Journal: Natural gas prices surged Tuesday as forecasts turned colder. Natural gas for January delivery rose 8 cents, or 2.18%, to $3.742 a million British thermal units on the New York Mercantile Exchange. The more heavily traded February contract recently rose 7.2 cents, or 1.96%, to $3.75 a million British thermal units. Weather models are suggesting

Shale Specter Haunts OPEC as Oil Seen Rallying Into 2017

From Bloomberg: After pulling off the biggest oil-market deal in a decade, OPEC faces a new balancing act in 2017: boosting prices without igniting shale. The first shale boom spurred a global supply glut that started prices sliding in mid-2014, and was amplified that November by a pump-at-will OPEC strategy aimed at market dominance. During the ensuing rout, prices in New York