Industry & Analysis
News
August 05, 2024
ADNOC Drilling’s second quarter and first half 2024 revenue increased to $935 million and more than $1.8 billion, up year-on-year by 29% and 26%, respectively. This growth has been driven by the expansion of operations across all business segments.
News
August 05, 2024
Kent will support the portfolio with their highly experienced CSU workforce while implementing its best-in-class commissioning processes, systems, and tools throughout the program of works, including its custom-built Commissionability (TM) software.
News
August 04, 2024
Shell is the last of the European majors to report their results and, like its peers, the company’s profits were underpinned by crude prices that averaged about $85 a barrel during the second quarter. These strong upstream earnings helped to offset weakness elsewhere, notably in refining and natural gas trading.
News
August 02, 2024
Chevron CEO Mike Wirth has been extolling the virtues of the Lone Star State’s oil and gas business climate for at least half a decade.
News
August 02, 2024
The Pioneer takeover closed in early May, helping lift Exxon’s overall production by 15% on a sequential basis, and setting the stage for daily output to average more than 4 MMbbl this year.
News
August 01, 2024
The bipartisan legislation introduced by Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY) seeks to strengthen American energy security by accelerating the permitting process for critical energy and mineral projects of all types in the United States.
News
August 01, 2024
The international arbitration panel handling Exxon’s claim that Chevron’s acquisition does not give it the right to control Hess’ stake in a Guyanese oil project has scheduled the hearing for May, the companies said.
News
July 31, 2024
An aging oil province like the North Sea, where most fields are heavily depleted and the remaining untapped resources are costly to develop, cannot tolerate these extra burdens, the oil and gas industry said.
News
July 30, 2024
Upstream M&A activity notched its third consecutive quarter of heightened value with more than $30 billion transacted. That brings year-to-date activity, including July deals, to nearly $90 billion and nearly $250 billion transacted in the last 12 months. Prior to the latest run of consolidation, quarterly M&A value had only topped $30 billion three times since the start of 2017.
News
July 30, 2024
Eco (Atlantic) Oil & Gas Ltd., an oil and gas exploration company focused on the offshore Atlantic Margins, has announced its audited results for the year ended March 31, 2024.
News
July 30, 2024
The contracts were awarded to Exxon Mobil and Macquarie. The oil will be delivered to the reserve’s Bayou Choctaw storage site from October 1 through December 31, the Energy Department said.
News
July 29, 2024
European energy companies have been grappling with competing forces — the negative impact of low natural gas prices and falling refining margins due to weak fuel demand, against the positive effect of higher crude prices amid OPEC+ supply cuts. For Eni, the upside outweighed the downside.
News
July 29, 2024
The Biden administration wants more money to purchase oil as it seeks to expand its efforts to refill the depleted U.S. emergency cache.
News
July 27, 2024
Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracing, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019.
News
July 26, 2024
Noble Corp. and Diamond Offshore Drilling Inc. announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their pending merger.
News
July 26, 2024
National energy associations strongly support the Energy Permitting Reform Act of 2024, introduced by Senate Energy Chairman Joe Manchin and Ranking Member John Barrasso.
News
July 25, 2024
Energy Workforce & Technology Council President Tim Tarpley released a statement regarding the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY).
News
Texas regulator highlights problems in federal orphan well plugging program in testimony to Congress
July 25, 2024
Earlier this week, Texas Railroad Commissioner Jim Wright testified before the U.S. House Committee on Natural Resources, where he spoke in favor of bipartisan legislation to provide states with more flexibility to utilize the orphan well plugging funds provided to states under the Infrastructure, Investment, and Jobs Act.
News
July 25, 2024
Through the transaction, H&P will increase its Middle East rig count from 12 to 88 rigs, 71 of which are in Saudi Arabia, Oman and Kuwait. Based on award activity to date, the pro forma company would be one of the larger rig providers in the Middle East.
News
July 25, 2024
In tweets and campaign memos, Republican are resurfacing Harris’ previous anti-fracing stance to show how out of touch with voters in politically important states such as Pennsylvania.
News
July 24, 2024
Prices for natural gas would “skyrocket” if fracing was banned. That’s according to Toby Rice, chief executive officer of shale driller EQT Corp., marking one of the first prominent voices in the fossil fuel industry to comment on the election after President Joe Biden said he would end his candidacy.
