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
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.