Chesapeake to complete Eagle Ford basin exit with SilverBow deal August 14, 2023 U.S. natural gas producer Chesapeake Energy (CHK.O) said on Monday it would sell its remaining Eagle Ford assets to SilverBow Resources (SBOW.N) for $700 million, completing its exit from the south Texas basin. The company’s asset sales in the basin has generated…
North America Drops Multiple Rigs August 07, 2023 North America has gone back to losing rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on August 4. The region dropped 10 rigs week on week, taking its total count to 847, comprising 659 U.S. rigs and 188 Canada rigs,…
Strategists Project 9.3MM Barrel USA Crude Inventory Drop August 01, 2023 Macquarie strategists projected that U.S. crude inventories will be down 9.3 million barrels for the week ending July 28 in a new report sent to Rigzone on Monday. “This follows a 0.6 million barrel draw for the week ending July 21, with the total…
Global oil and gas investment rises even as demand slows risking overcapacity in the sector Energize Weekly, June 21, 2023 Global demand for oil is set to slow in the next five years even as investment in oil industry infrastructure is projected to grow, risking an overcapacity in production, according to the International Energy Agency…
More US natural gas producers join lower-emission gas trading hub 13 June 2023 Two US natural gas producers have joined certified natural gas trading platform CG Hub, adding 1 billion cubic feet per day of liquidity through the service. Seneca Resources and Northeast Natural Energy joined the first commodities trading platform for certified natural gas…
U.S. oil and gas auction brings nearly $80 million to federal coffers 25/05/2023 The United States on Thursday carried out its first sale of oil and gas drilling rights on federal lands since President Joe Biden’s landmark climate change law was passed, attracting more than 78 million dollars in high bids for leases in New…
Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets Energize Weekly, May 31, 2023 Seven of the world’s “supermajor” oil companies are cleaning up their greenhouse gas emissions in large part by offloading some of the dirtiest assets to small companies who are often poor environmental performers, according to a Columbia University study.…
Chevron’s $7.6B purchase of PDC Energy creates the biggest oil and gas company in Colorado May 23, 2023 Chevron Corp. is buying PDC Energy in a $7.6 billion deal that will make it by far and away the largest oil and gas producer in Colorado and continues a trend in the state of bigger companies…
Standard Chartered Dubs Latest USA EIA Data Highly Bullish May 02, 2023 In a new report sent to Rigzone on April 28, analysts at Standard Chartered said the latest Energy Information Administration (EIA) weekly data was “highly bullish” according to the company’s U.S. oil data bull-bear index, which they said rose 47.7 week on week…
Biden Budget Proposes Elimination of Oil, Gas Tax Subsidies March 14, 2023 U.S. President Joe Biden’s 2024 budget proposes to eliminate tax subsidies for oil and gas, a White House fact sheet has revealed. “The president is committed to ending tens of billions of dollars of federal tax subsidies for oil and gas companies,” the…
U.S. drillers cut the most oil and gas rigs in a month since June 2020 – Baker Hughes February 27, 2023 U.S. energy firms in February cut the most oil and natural gas rigs in a month since June 2020, with the gas rig count falling to the lowest since April, energy services firm Baker…
December weather led to 13% decline in North Dakota oil and gas production 02-16-23 North Dakota oil production fell 13% in December and fell below 1 million barrels per day for only the fourth month since early 2017. The sharp drop, however, was expected after the state was hit by bad weather in December. A…
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