Monday, December 23, 2024
Ovintiv closes Midland basin acquisition for over $4 billion, completes Bakken asset sale for $825 million- oil and gas 360

Ovintiv closes Midland basin acquisition for over $4 billion, completes Bakken asset sale for $825 million

World Oil (WO) – Ovintiv Inc. closed the previously announced acquisition of core Midland Basin assets, adding approximately 1,050 net 10,000 foot well locations and approximately 65,000 net acres of largely undeveloped land adjacent to Ovintiv’s existing Permian operations. The company has acquired all the leasehold interest and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra

EIA sees record U.S. shale output despite slow growth- oil and gas 360

EIA sees record U.S. shale output despite slow growth

Oil Price The biggest U.S. shale regions are expected to produce a record-high level of crude oil in July, but growth is sputtering and set to be the slowest since December 2022, data from the Energy Information Administration showed on Monday. The seven main shale-producing regions in the United States are expected to pump 9.375 million barrels per day (bpd) of crude

OPEC data shows Saudi oil production cuts will “sharply” tighten global markets- oil and gas 360

OPEC data shows Saudi oil production cuts will “sharply” tighten global markets

World Oil (Bloomberg) – Saudi Arabia’s latest oil production cuts are set to tighten global markets sharply next month, data from OPEC show. Even before the kingdom announced its surprise new measures just over a week ago, the Organization of Petroleum Exporting Countries expected that world inventories would deplete rapidly in the second half amid a post-pandemic recovery in fuel

Oil soars nearly 4% ahead of Fed rate decision- oil and gas 360

Oil soars nearly 4% ahead of Fed rate decision

Oil Price The oil markets continue to be volatile and unpredictable, with WTI and Brent crude making significant gains on Tuesday’s morning session just a day after prices took a big plunge on growing Wall Street bearishness. At 10:13 a.m. EST, Brent crude for July delivery was trading at $74.50/barrel, good for a 3.7% gain, while WTI crude for July delivery climbed by a

Goldman Sachs slashes oil price forecast by nearly 10% as Russian supply recovers- oil and gas 360

Goldman Sachs slashes oil price forecast by nearly 10% as Russian supply recovers

CNBC Goldman Sachs analysts slashed their oil price forecast by almost 10% on the back of whey they see as increasing supply and slower demand for crude. According to a report released late Sunday, the investment bank lowered its Brent outlook for December to $86 a barrel, down from $95 a barrel. In the same report, Goldman also revised down