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Oil Wells Per Location in Lower 48 US States More Than Double in Past Decade, EIA Says

(Reuters) – The U.S. Energy Information Administration said on Wednesday that it estimates that the average number of oil wells completed simultaneously within 50 feet of each other in the Lower 48 states has more than doubled over the past decade. The agency said that simultaneous well completion per location had increased from 1-1/2 wells …

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WIND WARNING: Orsted Cancels Major UK Wind Project as Economics Worsen

Summary • CEO blames higher costs, interest rates and execution risks • Q1 core profit above forecasts • British government hopes to revive the project (Reuters) – Orsted will no longer build a major offshore wind farm in Britain, it said on Wednesday, citing a deteriorating global business environment for renewables and dealing a blow …

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Oil Rises as Market Eyes US-China Trade Talks, Lower US Output

Summary • U.S.-China to meet over the weekend • U.S. crude stocks seen falling 800,000 barrels in EIA report • API showed U.S. crude, gasoline stocks fell, sources say LONDON, May 7 (Reuters) – Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade …

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