(Investing) – Oil prices fell 1% on Friday and were headed for a weekly loss, as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone planned supply increases and extend deep output cuts to the end of 2026. Brent crude futures were down 72 cents, or 1%, to $71.37 per barrel at 1415 GMT. U.S. West
(World Oil) – Crescent Energy Company has announced the signing of a definitive agreement to acquire Eagle Ford assets from Ridgemar Energy for upfront consideration of $905 million plus future oil price contingent consideration, subject to customary purchase price adjustments. The acquisition is directly offset Crescent’s core Central Eagle Ford position and builds upon its significant acquisition activity in
(Oil Price) – Brazilian oil giant Petrobras, in partnership with Colombia’s state-run Ecopetrol, has confirmed the largest natural gas discovery in Colombia’s history. Drilling results from the Sirius-2 well, located in the Guajira Offshore Basin, have revealed over 6 trillion cubic feet (Tcf) of gas in place—enough to potentially double the country’s existing reserves. Petrobras holds a 44.44% stake in the
(World Oil) – Gradient Geothermal, a Denver, Colorado-based company that generates geothermal energy derived from existing oil and gas production and infrastructure, will provide Chord Energy, an independent North American oil and gas exploration and production entity, geothermal power generation and fluid cooling services. This first of its kind deployment of Gradient Geothermal’s proprietary technology removes heat from produced fluids and
(Oil & Gas 360) – DALLAS–(BUSINESS WIRE)–Dec. 5, 2024– Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that it has executed a definitive agreement whereby Matador would contribute Pronto Midstream, LLC (“Pronto”), Matador’s wholly-owned midstream subsidiary, to San Mateo Midstream, LLC, Matador’s midstream joint venture (“San Mateo”), for a total implied valuation of Pronto of approximately $600 million. At the closing of the transaction, Matador will receive
(Oil & Gas 360) – PITTSBURGH, Dec. 5, 2024 /PRNewswire/ — CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced today it has entered into a definitive agreement to acquire the natural gas upstream and associated midstream business of Apex Energy II, LLC (“Apex”), a portfolio company of funds managed by Carnelian Energy Capital Management, L.P. (“Carnelian”), in the Appalachian Basin
(Investing) – LONDON – OPEC+ at its Dec. 5 meeting made further changes to its oil production policy, by delaying a planned increase in output further into next year as it faces a weaker oil demand outlook. The oil producer group on Thursday pushed back the start of oil output rises by three months until April 2025 and extended the full
Natural Gas Inventories as of November 29, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 30 Bcf as of November 29, 2024. Working gas in storage was 3,937 Bcf as of Friday, November 29, 2024, according to EIA estimates. This represents a net decrease of 30 Bcf from the previous week. Stocks were
(Oil Price) – This week, the OPEC+ group is meeting to discuss when and how to begin easing the ongoing production cuts. The alliance looks to have dug itself deeper into a position between a rock and a hard place, again. Although they are not publicly admitting it, OPEC and its allies want to keep oil prices fairly high, as many
(World Oil) – Saudi Aramco is moving closer to building a giant carbon capture and storage project at its main refining and chemicals hub at Jubail, on the kingdom’s Gulf coast. The oil producer signed a shareholders’ agreement with partners Linde Plc and SLB to develop the facility, which aims to capture and store 9 million tons of carbon dioxide
(Oil Price) – Thanks to a U.S. license for Spanish energy major Repsol to import Venezuelan crude, Spain’s crude oil imports from the South American country have hit this year the highest level since 2006, according to Spanish government data. So far this year, Spain has imported about 2.6 million metric tons of crude oil from Venezuela, per data from Spanish
(BOE Report) – CALGARY, AB, Dec. 4, 2024 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce its 2025 capital and operating budget. The 2025 budget continues to generate free funds flow(1) in support of ongoing returns to shareholders, and further investment to capture value across Tamarack’s significant asset base. Highlights of the 2025 Budget Production Growth and Capital
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