Oil & Gas Journal Archive
- Baker Hughes: US rig count down 10 units to 1,012
- Chrysaor to acquire ConocoPhillips’ UK oil and gas business for $2.675 billion
- MARKET WATCH: Crude benchmarks drop despite lower US crude supplies
- CAPP 'encouraged' by Alberta premier-elect
- FERC staff issues final EIS for Gulf Liquefaction LNG project
- IOCs recorded high reserve replacement, low F&D costs in 2018, analysis shows
- Majors scoop up acreage in offshore Argentina bid round
- Dixit appointed CEO of Cairn Oil & Gas
- DOE announces up to $39 million in oil, gas R&D project grants
- EIA: US shale production to reach 8.46 million b/d in May
- Colorado’s governor signs Senate Bill 181 into law
- EIA: US crude inventories down 1.4 million bbl
- MARKET WATCH: Brent crude prices approaching $72/bbl
- Jones Energy files voluntary bankruptcy
- Concho, Frontier create Midland basin midstream joint venture
Jones Energy Inc. has filed a prepackaged plan of reorganization under Chapter 11 of the US Bankruptcy Code designed to convert to equity all its funded debt. The company said the plan will enable it to maintain operations as usual.
Brent crude oil prices on the London market gained more than 50Â¢ to settle at $71.72/bbl on Apr. 16 and continued rising Apr. 17 in early trading on concerns about tightening world oil supplies. Crude oil supplies have declined this year with US sanctions on Venezuela and Iran. Meanwhile, major producers, including Russia, also are holding back production.
US crude oil inventories for the week ended Apr. 12, excluding the Strategic Petroleum Reserve, decreased by 1.4 million bbl from the previous week, data from the US Energy Information Administration showed. At 455.2 million bbl, US crude oil inventories are 2% below the 5-year average for this time of year, the report indicated.
Colorado Gov. Jared Polis (D) signed S.B. 181, which imposes new restrictions on oil and gas activities in the state, into law on Apr. 16. The measure was designed to strengthen local governments’ authority over such operations, its sponsors said when they introduced it on Mar. 1.
The US Energy Information Administration forecasts crude oil production from seven major shale formations will climb 80,000 b/d in May to a record 8.46 million b/d, EIA said in its Monthly Drilling Productivity Report.