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.
Stratas Advisors forecasts that OPEC+ will continue to manage supply in a proactive manner while non-OPEC supply growth is expected to be more modest during 2024 and 2025 than seen in 2023.
Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.
B&W will convert the plant’s two coal-fired boilers to natural gas by designing and installing burners, air systems, fans and other equipment.
Baker Hughes said oil rigs fell three to 496 this week, their lowest since November, while gas rigs rose one to 103.
Magnolia Oil & Gas said it paid $125 million to a private operator to acquire the acreage, which has minimal production.
Energy Transfer reported record first-quarter crude volumes and expects demand for petrochemicals to continue rising.
Sitio Royalties closed its acquisition of 13,062 net royalty acres. CEO Chris Conoscenti has a strong pipeline of minerals acquisition opportunities.
Republican president candidate Donald Trump courted the CEOs of Venture Global, Cheniere Energy as well as representatives from Chevron, Continental Resources, Exxon and Occidental Petroleum, the Washington Post reported.
Producers should be aggressive in locking in desirable crude oil prices on an abnormal market strength.
Crude output gains from the Permian Basin will keep U.S. oil production relatively flat entering the 2030s, offsetting declines from mature oily basins, according to Enverus Intelligence Research.
APA Corp. plans to curtail gas and NGL production in the U.S. owing to weak Waha prices but remains confident it can deliver in the Permian Basin, CEO John Christmann said during a quarterly webcast with analysts.
Crescent Point Energy is divesting non-core assets to boost its portfolio for long-term sustainability and repay debt.
During the Offshore Technology Conference 2024, project managers for Chevron’s Anchor Deepwater Project discussed the progress the project has made on its journey to reach first oil by mid-2024.