Stratas Advisors says even with the reported drawdown in U.S. crude inventories, the price of Brent crude oil remains below the upward channel that had been in place since January of this year.
Tivoli Midstream acquired the Chocolate Bayou from Ascend Performance Materials, including storage and land for development.
ProPetro has entered a three-year agreement to provide electric hydraulic fracturing services for Exxon Mobil’s operations in the Permian Basin.
Phoenix Capital Group’s acquisition of 1,500 net royalty acres in Duchesne County, Utah, brings the company's investment in the Uinta Basin to more than $60 million, the company said.
Hedge funds and other money managers sold the equivalent of 95 MMbbl in the six most important petroleum futures and options contracts over the seven days ending on April 23.
The accord will be included in the G7 energy ministers' final communique to be released on April 30.
Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.