Thursday, November 28, 2024
Illinois Frac Ban

With Big Players Come Big Rig Counts: XOM, COP, CVX Report Q2

In the past two days ExxonMobil Corporation (ticker: XOM), Chevron Corporation (ticker: CVX), and ConocoPhillips (ticker: COP) all reported second quarter earnings and gave operational updates. ExxonMobil ExxonMobil earned $3.4 billion in Q2, which brought the company’s earnings for the year-to-date to $7.4 billion. This represents a 97% improvement from the same quarter of 2016—in which Exxon earned $1.7 billion.

Moving Oil by Rail - Oil & Gas 360

Shipping Energy: What’s Safe, What’s Not?

Shipping choke points could be security threat The EIA estimates that approximately 61% of the total world petroleum supply—or 58.9 million BOPD—travelled in maritime tankers. The oil in these tankers represents nearly 28% of the world’s shipping in weight alone. The EIA defines oil chokepoints as narrow channels along widely used global sea routes. Some of these points are so

Cabot’s Lower Marcellus Wells Have Best EUR in Onshore U.S. Gas

Price realizations increase ~40% YOY Cabot Oil & Gas (ticker: COG) announced second quarter results today, showing earnings of $21.5 million, or $0.05 per share. After adjusting for certain special items, Cabot’s net income for Q2 was $64 million, or $0.14 per share. Second quarter production was a cumulative 173.1 Bcfe, which is 14% higher than Q2 2016 production levels.

Roughnecks at drill site.

WTI Nears $50 as U.S. Rig Count Resumes Growth

Seven land rigs, one offshore are activated Oil rose even as U.S. drilling activity returned to growth, according to the most recent edition of Baker Hughes’ weekly rig count. West Texas Intermediate recorded its strongest weekly gain of the year on Friday, hitting $49.71, up 8.6% for the week. Brent rose $1.01 to $52.50 a barrel, showing more than 9%

Russia Cuts U.S. Diplomats in Reaction to Sanctions

From Fox News Russian President Vladimir Putin finally took his revenge on Friday, responding to a months-old censure from the Obama administration and new Congressional sanctions by closing down several American facilities in Russia and ordering a reduction in the number of U.S. diplomats allowed in the country. Following the U.S. Senate’s approval on Thursday of fresh, sweeping sanctions against