World Oil (Bloomberg) — In a windswept desert southwest of Buenos Aires, black steel tubes the length of school buses extend in a line toward the horizon. The scene is the clearest sign yet that one of the world’s biggest shale plays finally has a shot at living up to its promise. Workers in the geological formation known as
Oil and Gas 360 Publishe’s Note: Northern Oil and Gas will be presenting on Monday, August 8, 2022 at 11:20 a.m. (MST) at EnerCom Denver- The Energy Investment Conference next week on August 8-10, 2022. You can still register to attend and schedule one-on-one meetings. Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG” or the “Company”) today announced that its
World Oil (Bloomberg) — The White House believes the Organization of Petroleum Exporting Countries has room to raise oil production, should an upcoming visit by President Joe Biden to the Middle East yield any agreements. “We do believe there is a capacity for further steps that could be taken,” National Security Advisor Jake Sullivan said in a press conference on
World Oil (Bloomberg) — The OPEC+ coalition ratified an oil-production increase that completes the return of supplies halted during the pandemic, while deferring discussions on its next move for another day. The 23-nation group led by Saudi Arabia rubber-stamped plans to add 648,000 barrels a day in August, restoring the final tranche of the 9.7 million barrels a day that
World Oil (Bloomberg) — India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft PJSC as international buyers turn down dealings with Moscow over its invasion of Ukraine. State processors are collectively working on finalizing and securing new six-month supply contracts for Russian crude to India, said people
Yahoo Finance BRUSSELS – European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil. OPEC has resisted calls by the United States and the International Energy Agency to pump more crude to cool prices which reached a 14-year
U.S. continues to import less while exporting more Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower, the EIA said today in a new report. Gross energy imports have been generally decreasing
Devon’s early ’18 production from Delaware, STACK up 20% over 2017 average Devon Energy Corp. (ticker: DVN) accelerated production growth in early 2018. The company’s Delaware Basin and STACK assets are producing approximately 195,000 BOEPD. The combined daily production rates from these two assets represent a 10% increase over the fourth quarter of 2017, and a ~20% increase compared to
Exxon Mobil Corporation (ticker: XOM) added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of 2017 production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016. According to the company, ExxonMobil’s reserves life at current production rates is 14 years. During
Marathon Petroleum Corp. (ticker: MPC) earned $2.02 billion, or $4.09 per diluted share, in Q4 2017. This is significantly more than in Q4 2016, where the company had earnings of $227 million, or $0.43 per diluted share. FY 2017 earnings saw a significant increase as well – $3.43 billion, or $6.70 per diluted share. Compared to FY 2016’s $1.17 billion,
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