Light, sweet crude oil prices gained moderately on Apr. 12 to settle at nearly $63.90/bbl for the May contract while Brent for June gained on the London market to settle above $71/bbl. US natural gas futures prices edged down on Apr. 12 following the Apr. 11 release of the US Energy Information Administration’s Weekly Natural […]
Baker Hughes: US rig count down 3 units to 1,022
The US drilling rig count dropped 3 units to reach 1,022 rigs working for the week ended Apr. 12, according to Baker Hughes data. The count is up 14 units from the 1,008 rigs working this time a year ago. Source: News
Gripes about Trump’s pipeline orders don’t speak for ‘the world’
In their gripes about US President Donald Trump’s Apr. 10 executive orders supporting pipeline construction, activists resorted to familiar artfulness. Source: News
Qatargas lets offshore jackets contract for North field
Qatargas has let a contract to McDermott International Inc. for engineering, procurement, construction, and installation for expansion of North field offshore facilities in Qatar. Source: News
Deal to acquire Anadarko positions Chevron as Permian leader
Chevron Corp. has agreed to buy Anadarko Petroleum Corp. in a cash and stock deal that values Anadarko at $50 billion and creates growth opportunities for Chevron in areas that play to its operational strengths. Source: News
Buru mobilizes rig for Ungani field drilling program
Buru Energy Ltd., Perth, has reported that the rig for a three-well program in its Ungani field onshore Canning basin and surrounding exploration area in the Kimberley region of Western Australia was mobilized from Perth. All 44 containers holding the modularized rig will be at the Ungani-6 location soon. Source: News
BP reported exiting Chinese shale gas PSCs
BP PLC is reported to be planning to withdraw from its two production-sharing contracts covering exploration for natural gas in Sichuan basin shale. Source: News
US Tenth District first-quarter energy activity flat, outlook higher
The Federal Reserve Bank of Kansas City’s first-quarter Energy Survey revealed that energy activity in the Tenth District was essentially flat, but the outlook for future activity rose moderately. Firms reported that oil prices needed to average $52/bbl for drilling to be profitable, down slightly from 6 months ago and below both current and expected […]
MARKET WATCH: NYMEX crude drops more than $1/bbl as US crude stockpiles build
Light, sweet crude oil prices fell just over $1/bbl on the New York market and Brent crude oil prices fell almost as much in London as US crude stockpiles reach high levels not seen in almost 17 months. US crude oil inventories for the week ended Apr. 5 increased by 7 million bbl from the […]
ESAI Energy: Russian crude exports to reach a multiyear high
Russian crude exports will reach a multiyear high of 5.7 million b/d in April, 400,000 b/d higher than average exports in the previous 5 months, according to a market alert released by ESAI Energy. As the past few years’ fluctuations in Russian exports have shown, uncommonly high exports are accompanied by greater flows of Russian crude […]