What's Affecting Oil Prices This Week? (Aug. 5, 2024)

Despite heightened geopolitical tensions, Stratas Advisors expects oil prices to be under pressure again this week with oil prices being affected by the selloff in the equity market.

Kissler: US Must Protect the Petrodollar to Defend the Dollar

Rumblings that the petrodollar is dead are likely overstated, but the demise of the long-time practice would have far-reaching implications for the U.S.

Genesis Energy: First Oil at GoM Field Pushed Back to 2Q 2025

Genesis Energy’s is awaiting a floating production vessel to connect its SYNC pipeline in the Gulf of Mexico to the delayed Shenandoah deepwater project.

Exxon Pairs Record Pioneer Output with Record Legacy Permian Volumes

After closing a $63 billion acquisition of Pioneer Natural Resources, Exxon is the largest producer in the Permian Basin—and the entire U.S.

Occidental Closes $12 Billion Acquisition of CrownRock

Occidental has already started the process of reducing debt incurred through its acquisition of CrownRock LP with an $817 million sale in late July of Delaware Basin assets to Permian Resources.

APA Ratchets Up Permian Activity to Stoke US Oil Growth

APA Corp. expects an 8% uptick in its U.S. oil production in fourth-quarter 2024 compared to second-quarter 2024 as the company continues to connect more wells in the Permian Basin.

Viaro Energy to Buy Shell, Exxon’s North Sea Assets

When the transaction is completed, Viaro Energy will control 11 fields that produced 28,000 boe/d in 2023, 5% of the U.K.'s total gas production.

Big Barrels: Meet Ohio’s New Utica Oil Play

After a false start in the early 2010s that went underwater with overwhelmingly low oil and associated-gas prices, a new group of Ohio drillers is going after the Utica’s volatile oil window. They’re talking now. Here’s what they’re up to.

As Chevron Deal Delays, Hess’ Bakken Oil Production Spikes 17%

Hess Corp. is producing and spending more as it awaits completion of Chevron’s proposed $53 billion acquisition, helping the E&P lift volumes in the Bakken and offshore Guyana.

NOG’s Banner 2Q: Biggest M&A Deals, New Basins, Record Production

Non-operated specialist Northern Oil & Gas (NOG) had a banner second quarter, inking its largest acquisition ever in Utah and hitting record quarterly production.