Fox Business President Trump is expected to visit the Permian Basin in West Texas Wednesday and make a stop at the Double Eagle Energy in Midland, the White House announced. During his visit, the president will tour an oil rig and address how the U.S. has become a dominant energy power, from reducing regulation, expediting the approval of projects and providing an impetus for private investment
Reuters Chevron Corp’s surprise $5 billion all-stock deal for oil producer Noble Energy should spell the end of this year’s deal drought, setting a price benchmark that will trigger more buys, according to mergers and acquisition bankers, lawyers and analysts. The COVID-19 pandemic destroyed fuel demand and left dozens of energy companies without the prospect of drilling their way out
RarePetro Oil & Gas Publishers Note: Another great industry insight article from Kevin Olson at RarePetro. Abstract Financial markets attempted to buoy benchmark prices as oil and gas markets became volatile in Q1 2020. This created a disconnect in the price spreads between the NYMEX WTI futures benchmark and regional spot prices. The disconnect continued to grow at the beginning
Houston Chronicle The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the world of energy. In such places, mom-and-pop outfits run so-called stripper wells, which generate no more than 15 barrels a day. After crude’s crash in 2014, they were forced to
Journal of Petroleum Technology Oil & Gas Publishers Note: Excellent piece by Steve Rassenfoss. Our host, Michael Tanner, on the 360 Digital Closing Bell reported on the Texas Railroad Commission has been invited to the next OPEC meeting. This is huge! Oil producers have asked Texas regulators to consider bringing back the system created to end a supply glut during
ExxonMobil Woods told investors that ExxonMobil (stock ticker: XOM) is planning capital expenditures of between $30 billion to $35 billion annually through 2025, consistent with previous guidance. For 2020, the company anticipates an investment level of up to $33 billion, depending on the progress of individual projects. Key Takeaways: Advantaged projects, industry-leading growth opportunities and favorable cost environment support earnings
Houston Chronicle Chevron Corp. plans as much as $80 billion in dividends and share buybacks over the next five years, boosting distributions by 20 percent compared with the most recent pace of payouts as the U.S. oil giant ramps up production and returns from the Permian Basin. Mike Wirth, who took over as chief executive officer little more than two
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter and year ended December 31, 2019. Pioneer reported fourth quarter net income attributable to common stockholders of $344 million, or $2.06 per diluted share.
Chron A storied oil company that got its start in East Texas is seeking its latest fortune in the Permian Basin of West Texas. Founded in in 1934, Hunt Oil Co. drilled its first oil wells in the Piney Woods of East Texas, and over the decades it developed projects around the globe. Closer to home, the independent and privately
EIA U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average first full month of oil production from new wells in regions tracked by EIA’s Drilling Productivity Report (DPR) has generally increased. These growing initial production rates have helped tight oil production
Houston Chronicle Houston pipeline operator Enterprise Products Partners has started operations at two new natural gas processing plants this week. The company announced on Thursday morning that it had started its Bulldog cryogenic natural gas processing plant in the Haynesville Shale of East Texas. Located in Panola County, the plant, can process 200 million cubic feet of natural gas per
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