Pietro D
Pitts
Hart Energy
What's Affecting Oil Prices This Week? (Sept. 16, 2024)
With expectations for more favorable supply/demand fundamentals and improvement in the sentiment of oil traders, Stratas Advisors forecast higher oil prices with the price of Brent crude moving back above $80.
Chevron Pushing Longer Laterals in Argentina’s Vaca Muerta Shale
Chevron Corp., already drilling nearly 2.8-mile laterals at its Loma Campana Field in Argentina, wants to drill even longer horizontals, an executive told Hart Energy.
Francine Closes, Restricts Oil Export Ports, Shuts in 42% of GoM Oil
In addition to hampering ports and refineries, an estimated 41.74% of Gulf of Mexico oil production, or 730,472 bbl/d, has been shut in.
US Drillers Add Oil, Gas Rigs for First Time in Five Weeks
The oil and gas rig count rose by eight in the week to Sept. 13 to 590, returning to mid-June levels. The increase was the biggest since the week to Sept. 15, 2023.
Diamondback Closes $26B Endeavor Deal, Forming Last Permian ‘Sandbox’
Diamondback Energy’s merger with Endeavor Energy Resources forms a company with pro forma production of 468,000 bbl/d (816,000 boe/d) on total Permian acreage of about 838,000 net acres.
As Crude Markets Turn Bearish, Will OPEC Come to the Rescue?
Despite oil futures prices sliding since August, OPEC continues to keep supplies up, to the bafflement of analysts.
Industry Warns Ruling Could Disrupt GoM Oil, Gas Production
The energy industry slammed a reversal on a 2020 biological opinion that may potentially put an indefinite stop to oil and gas operations in the Gulf of Mexico—by December.
Hurricane Francine Shuts in Quarter of GoM Oil, Gas Production
The Bureau of Safety and Environmental Enforcement reported that 130 platforms and several rigs were affected as the storm approached the Louisiana coast.
US Oil Firms Evacuate Staff, Cut Drilling Ahead of Storm Francine
Francine is moving toward U.S. Gulf of Mexico waters and predicted to become the fourth hurricane of the Atlantic season.
What's Affecting Oil Prices This Week? (Sept. 9, 2024)
Within the context of lower oil prices and disappointing economic data, members of OPEC+ have decided to delay the unwinding of voluntary cuts, which were expected at the end of September.