World Oil (Bloomberg) – U.S. crude oil production reached the second-highest level on record in July as output from Texas’s Permian basin soared to an all-time high. The nation’s production rose to 12.991 MMbpd, the highest since a peak of 13 MMbpd in November 2019, according to data from the Energy Information Administration. Most of the gain came from Texas, where
Oil Price Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts, intergovernmental forum International Carbon Action Partnership (ICAP) said in a new report on Wednesday. ETSs generally set the total amount of greenhouse gases that can be emitted by operators or sectors. The cap is gradually
World Oil AUSTIN – Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas industry following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. “Despite President Biden’s delusional desire to transition away from fossil fuels, Comptroller Hegar’s announcement reinforces the fact that oil and gas literally fuels every facet of our lives
Reuters As the Biden administration contemplates expanding punitive measures on Russia for its invasion of Ukraine, a big hurdle lies closer to home: the American consumer. U.S. drivers are embarking on summer vacations with gasoline prices averaging more than $5 a gallon for the first time ever. And rising oil and natural gas prices are helping to boost inflation
Reuters Dec 15 – U.S. implied consumer petroleum demand surged to an all-time high last week on the back of holiday demand and travel – even as the Omicron variant of coronavirus threatens to dent oil consumption in coming months. Overall crude stockpiles fell due to rising exports, and inventories for gasoline and distillates were also down, the U.S. Energy
CNBC Chevron said Friday that it generated the highest free cash flow on record during the third quarter, as surging commodities prices and lower operational costs boosted operations. The oil giant beat top- and bottom-line estimates for the period, earning $2.96 per share on an adjusted basis. Revenue jumped more than 80% year over year to $44.71 billion. Wall Street
From Reuters U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen
From Reuters Spot power prices in Texas almost tripled for Tuesday on forecasts demand for electricity would hit record levels over the next week as consumers crank up their air conditioners to escape a heat wave blanketing much of the state. High temperatures in Houston, the biggest city in the Lone Star State, were expected to reach almost 100 degrees
Canal surpasses LNG’s three-vessel record set in April From Seatrade Maritime News The Panama Canal reached a new milestone Monday after the successful transit of four liquefied natural gas (LNG) ships with a beam of up to 160 feet (49 metres) in a single day through the neopanamax Locks and with it broke the record set on 17 April 2018,
North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February. In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day. February was another good month of production for the state, reaching an all-time high for natural gas production. The commission reported natural gas
Antero spent $1.28 billion on drilling and completions in 2017, producing an average of 2,253 MMcfe/d Full-year and Q4 2017 spending Antero Resources (ticker: AR) spent $1.282 billion on drilling and completions in 2017. The company invested $204 million for land, excluding $176 million for proved property acquisitions, $346 million for gathering and compression systems and $195 million for water
Bonanza Creek Energy, Inc. (ticker: BCEI) exceeded the company’s high-end of Q4 2017 estimates by producing 14.8 MBOEPD. The company is expecting Rockies production to grow by 20% in 2018 and in 2019 Bonanza Creek said it expects an increase of 50% or more. Expanding core footprint in DJ with French Lake “In 2017, we secured our strategically important leasehold
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