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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.

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 Gas Storage Report, which showed a build in underground gas storage across the Lower 48.

Aramco Overseas Co. BV, a subsidiary of Saudi Aramco, will purchase a 17% stake in South Korean refiner Hyundai Oilbank, supporting Aramco’s oil placement strategy by providing a dedicated outlet for Arabian crude to South Korea.

Marathon Petroleum Corp., through subsidiaries including Speedway LLC, agreed to acquire a 900,000-bbl capacity light product and asphalt terminal and 33 NOCO Express retail outlets in Buffalo, NY, from NOCO Inc., building on prior investments to “maximize refinery utilization,” the company said.

Joseph A. Mills has been appointed executive chairman of Roan Resources Inc. and has assumed the duties of principal executive officer on an interim basis following the resignation of Tony Maranto as chairman, chief executive officer, and president, for personal reasons.


RT @AnteroResources: Appalachian producers like Antero have helped the region break production records and boost local economies. https://t

WV’s Natural Gas Industry Committed to Reducing Emissions - West Virginia Oil and Natural Gas Association https://t.co/FoHCuY1fXI

RT @MarcellusGas: Penn State researchers: Methane emissions from gas wells & infrastructure in the 'mighty Marcellus Shale' are just a tiny…