Tuesday, January 28, 2025

Energy XXI Gulf Coast Plans to Spud Development Well in June

Energy XXI Gulf Coast releases Q1 results Energy XXI Gulf Coast, Inc. (ticker: EXXI), the post-bankruptcy incarnation of Gulf of Mexico operator Energy XXI, reported operational and financial results for the first quarter of 2017. Highlights: Produced an average of approximately 41,000 barrels of oil equivalent (“BOE”) per day in the first quarter of 2017, of which 71% was oil Reported

Oil Above $50/bbl In Anticipation of OPEC Cuts

Saudi Arabia predicts no opposition to cuts Oil is above $50/bbl again as traders anticipate an OPEC agreement to continue price cuts. Crude oil closed the day at $53.75/bbl for Brent and $50.81/bbl WTI, continuing gains since the 17th. It currently seems highly likely that OPEC will agree to extend production cuts, especially after an announcement by the Saudi Energy

BP Announces First Oil from North Sea Project

Quad 204 develops Schiehallion, Loyal fields BP (ticker: BP) announced first oil today from its Quad 204 project, redeveloping the Schiehallion and Loyal fields in the North Sea. The Schiehallion and Loyal fields have been producing since 1998, producing an estimated 400 MMBOE in total. Both fields are west of Shetland, and are directly north of Scotland. BP estimates that

We want Private Companies to Operate Oil & Gas Storage Here: China

Chinese authorities announce plans to further reform the country’s oil and gas sector; call for increased imports of low-priced U.S. natural gas China has said it will allow private companies to invest in the country’s oil and gas storage sector, the government said in a document laying out changes it plans to make to the energy sector. In a document