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Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
Emissions from the Permian basin dropped 60% from March to April last year as oil producers shut in wells and cut back on new ones due to tumbling crude prices. But methane emissions are now back at pre-pandemic levels as drilling ramps up, according to the non-profit Environmental Defense Fund. View the full article
Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half a decade. View the full article
Special-purpose acquisition companies have targeted electric vehicles, fintech, healthcare and even space this year, largely avoiding oil -- until now. View the full article
Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. View the full article
The Biden administration is considering triggering tougher anti-smog requirements that could curb drilling across parts of the Permian Basin, the world’s biggest oil field that straddles Texas and New Mexico. View the full article
Permex Petroleum Corporation, a junior oil and gas company based in Dallas, was approved for a permit to drill on its property in Martin County, Texas. View the full article
Perenco announced it has completed the acquisition of Glencore’s corporate entities holding its entire Chad Upstream oil interests. View the full article
Using the Dixstone-owned Nuada Self-Elevated Class 82 SD-C jack-up drilling rig, the Moke-East exploration well, located between Lukami and Motoba fields in the DRC coastal basin, encountered a 24 ft net oil-bearing column. The offshore discovery will be tested and the well completed in the coming weeks. View the full article
Pennsylvania is in the final stages of approving a new rule that would crack down on methane emissions from older oil and gas infrastructure, while exempting a vast number of low-producing wells. View the full article
A $1 billion project to haul natural gas from Pennsylvania to New Jersey has become the latest casualty of opposition to pipelines across the U.S. View the full article
Penn Virginia Corporation and Lonestar Resources US Inc. have entered into a definitive merger agreement under which Penn Virginia will acquire Lonestar in an all-stock transaction. View the full article
Petroleos Mexicanos is measuring crude production at a warmer temperature than government regulators, inadvertently inflating the oil giant’s output figures, according to people familiar with the practice. View the full article
Mexico’s state-owned oil giant Petroleos Mexicanos will resume paying its debt maturities this year, ending a government policy of covering its amortizations to help the beleaguered driller shore up its finances, according to a Finance Ministry official. View the full article
Pemex fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field. View the full article
Petroleos Mexicanos is replacing its finance chief as President Andres Manuel Lopez Obrador tightens his grip on the struggling state oil giant. View the full article
Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. View the full article
The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. View the full article
Pemex is said to be planning to trim its crude oil exports next year as it cranks up domestic fuelmaking to supply an economy bouncing back from the pandemic. View the full article
Petroleos Mexicanos reported a small increase in third-quarter production after adding new wells, which more than offset the impact of two accidents at its offshore operations. View the full article
Pemex is under pressure to prove that the company is increasing production under the government of President Andres Manuel Lopez Obrador, who swept into power in late 2018, promising to revive it by rolling back the liberalizing energy reforms of his predecessor. View the full article
Mexico President Andres Manuel Lopez Obrador, the great champion of his beloved but beleaguered state-owned oil giant, may be making his boldest move yet to keep it afloat. View the full article
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt. View the full article
Mineral Resources Development Company Limited (“MRDC”) and Twinza Oil Limited (“Twinza”) have obtained all internal approvals and executed a series of binding agreements for MRDC to take an up to 50% Participating Interest in the Pasca A Development Project. Additionally, the companies agreed to cooperate in the acquisition and development of other oil and gas assets in Papua New Guinea. 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.
