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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. View the full article
Two production trains are increasing production already. They will be followed by the third train as early as the end of next week. Full production is expected in August, people said, asking not to be identified because the information was not made public. View the full article
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. View the full article
Transocean Ltd. issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. The aggregate incremental backlog associated with these fixtures is approximately $656 million. View the full article
Having already obtained all other relevant local and regulatory authorities’ authorizations, this achievement will allow Eni to proceed to with the sale of Nigerian Agip Oil Company Ltd (NAOC Ltd), Eni’s wholly owned subsidiary focusing on onshore oil & gas exploration and production as well as power generation in Nigeria, to Oando PLC, Nigeria’s leading national energy solutions provider. View the full article
A bankruptcy judge on Wednesday approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant. View the full article
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. View the full article
Russia plans to make extra crude oil production cuts to compensate for pumping above its OPEC+ quota in October and November this year, then between March and September of 2025. The compensation cuts will be made to account for overproduction that has occurred from April, Russia’s Energy Ministry said in a Telegram statement. View the full article
Matador executives on a Wednesday earnings conference call with analysts credited the better-than-expected well performance to drilling efficiency improvements such as crews spending less time drilling wells and hydraulic fracturing more wells simultaneously. View the full article
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. View the full article
Westerton Access, a global provider of specialist subsea inspection, maintenance and integrity services to the energy market, announced the appointment of James Griffin, who has joined the business in the role of Regional Manager, overseeing sales and operations for the company’s Europe and West Africa business unit. View the full article
Russia plans to make extra crude oil production cuts to compensate for pumping above its OPEC+ quota in October and November this year, then between March and September of 2025. The compensation cuts will be made to account for overproduction that has occurred from April, Russia’s Energy Ministry said in a Telegram statement. View the full article
Matador executives on a Wednesday earnings conference call with analysts credited the better-than-expected well performance to drilling efficiency improvements such as crews spending less time drilling wells and hydraulic fracturing more wells simultaneously. View the full article
Prices for natural gas would “skyrocket” if fracking 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. View the full article
Since its creation in 2019, the Permian Strategic Partnership has doubled its membership and committed $153 million in philanthropic investments to generate over $1.5 billion in community support and collaborative investments. View the full article
TechnipFMC has been awarded a “substantial” contract by Petrobras to supply flexible pipe for the pre-salt fields offshore Brazil. The contract covers the design, engineering, and manufacture of flexible pipe for water injection and gas lift.
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Boasting 18 discoveries in Block 15 alone, ExxonMobil is intensifying its exploration and production activities in the country, aligning with national objectives to maintain production above 1.1 MMbpd through 2027. View the full article
Hot weather has contributed to a wildfire outbreak in Western Canada, with 170 burning in Alberta alone — 53 of them out of control. The equivalent of about 388,000 bpd of oil production and 13,400 bpd of natural gas are within 10 km (6.2 miles) of blazes that are at least 10 hectares (25 acres) in size, according to Alberta Wildfire geographic data and Alberta Energy Regulator June production data. View the full article
Recent exploration in deepwater and neighboring regions has revealed significant potential in the Cretaceous channel sand plays and shelf clastics above the carbonate platform. Untapped potential also exists in the carbonate platform and syn-rift areas. View the full article
GEPetrol’s transformation into a competitive operator follows a trend of similar NOC restructuring in Africa, all of which have enhanced the competitiveness and capacity of the respective NOCs. These include Angola’s Sonangol, the Nigerian National Petroleum Corporation, Algeria’s Sonatrach, and more. View the full article
Energean plc has taken Final Investment Decision (“FID”) for the Katlan development project offshore Israel. The Katlan area will be developed in a phased approach through a subsea tieback to the existing Energean Power FPSO. View the full article
Saudi Aramco, which had previously been in talks to purchase a stake in Tellurian, is another potential partner, said Saul Kavonic, an energy analyst at MST Marquee in Sydney. Abu Dhabi National Oil Co., as well as Japanese buyers and U.S. infrastructure players, could also invest in Driftwood, he said. View the full article
The well was tested to produce over 6,290 boed, the first well of such productivity in Wushi Sag. The discovery is expected to become a medium-sized oilfield. The total proved oil in-place of Wushi oil fields has exceeded 629 MMboe. View the full article
Other highlights of Senator Joe Manchin's Energy Permitting Reform Act of 2024 include new limits on federal agency timelines to make project decisions. It also would require annual lease sales for both offshore wind and oil projects and expedite approval of electric transmission lines, according to a summary. View the full article
The retreat by one of Britain’s biggest oil and gas companies underscores the challenge facing the UK government in developing floating offshore wind into a major industry, just as costs for the technology have increased. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
