Friday, December 20, 2024
Canadian Heavy Oil Prices are Falling Faster than Global Crude Benchmarks - Oil & Gas 360

All-Time High for U.S. Crude Exports

Widening spread incentivizes marketers to export abroad: Fed U.S. crude oil exports went from 1.29 MMBOPD in Sept. to 1.78 MMBOPD in Oct., an all-time high according to the Federal Reserve Bank of Dallas. The crude oil export ban was lifted in Dec. 2015 and infrastructure was built or modified to help exports. One major construction project was the Ingleside

Crude Oil on the Rise

Saudi Arabias move to dispel doubts over Russia’s readiness to extend output curbs sent WTI and Brent crude oil benchmark prices up 2.32% and 2.10%, respectively. Recently Saudi Arabia’s Energy Minister Khalid AL-Falih said that OPEC will announce the extension of production when the group meets on November 30. OPEC and non-OPEC countries including Russia made a deal in to

Rig Count Rises on Gas Drilling

Eight more rigs, all drilling for gas Drilling activity in the U.S. increased this week, according to the latest edition of Baker Hughes Weekly Rig Count. The number of active rigs in the U.S. increased by eight, rising to a total of 915. Land-based rigs added five, closing the week at 893. Three offshore rigs came online, meaning there are

Anadarko Announces $4.2-4.6 Billion Capital Budget for 2018

Anadarko Petroleum (ticker: APC) released its 2018 capital expectations and guidance. According to the company’s press release, out of the company’s $4.2-4.6 billion dollar budget, approximately 80 percent will be directed towards the Delaware and DJ basins, as well as the Gulf of Mexico. The remaining budget will be spent on international operations, exploration and LNG development. Spending in the