Conventional Energy

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Shale’s Shift to All-Stock Deals Gives It Muscle Against OPEC Maneuvers

Conventional Energy, Energy Topics & Technology, Latest, Oil, Shale, US News / By

APA Corp.’s $2.6 billion purchase of Callon Petroleum Co. extends the industry’s strategy of lining up drilling sites without piling on debt. Permian Basin oil and natural gas output may grow in 2024, though at a slower pace than last year. The new year in the shale patch kicked off much as the old one ended, with a hefty all-stock takeover. …

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Oil Tankers Continue Red Sea Movements Despite Houthi Attacks

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed. The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than …

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Oil Rises Over a $1 as Middle East Crisis, Inflation Fight in Focus

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Hapag-Lloyd to continue avoiding Red Sea/Suez Canal 300,000 bpd of supply still offline in Libya American Petroleum Institute weekly data due at 2130 GMT (Reuters) – Oil prices rose by more than $1 on Tuesday after sliding in the previous session as markets weighed Middle East tensions against demand worries and rising OPEC supply. …

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U.S. Natgas Prices Drop 4% With Oil Futures, Ample Inventories

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas futures dropped about 4% on Monday because the country has ample amounts of gas in storage and the coldest weather expected over the next week will likely hit over the long U.S. Martin Luther King holiday weekend when many businesses and government offices are shut. Analysts said there was currently about 12.2% …

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Shell Signs 20-year Supply Deal With Canadian LNG Upstart

CDN and International News, Conventional Energy, Latest, LNG / By

British Columbia project adds to Shell’s LNG Canada position First binding deal for project targets Asia energy markets By Ruth Liao Shell Plc. signed a long-term deal to buy liquefied natural gas from a Canadian floating export facility to serve energy markets in Asia. The deal, which calls for 2 million metric tons a year of LNG …

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Permian’s Private Shale Explorers Expect Modest Growth

Conventional Energy, Latest, Oil, Shale, US News / By

Survey finds closely held group planning less than 5% increase Explorers say they need crude to be above $70 to make a profit By David Wethe – Bloomberg Most of shale’s private explorers in the Permian are planning modest growth this year as one of the main engines of US oil expansion downshifts amid volatile commodity …

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Oil Prices Settle Higher on Middle East Tensions

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary U.S. Secretary of State Blinken visits Middle East U.S. employment data shows increased hiring and wages Rig count declines for third time in four weeks Maersk diverts vessels from Red Sea for foreseeable future (Reuters) – Oil prices settled higher on Friday as U.S. Secretary of State Antony Blinken began a week-long sweep through …

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Southwestern and Chesapeake Energy Near $17-Billion Merger

Conventional Energy, Latest, Mergers and Acquisitions, Natural Gas, US News / By

Southwestern Energy and Chesapeake Energy are close to a merger that would create a roughly $17-billion company that would rank as one of the largest U.S. natural-gas producers, the Wall Street Journal reported on Friday. The deal could come together as soon as next week, the report said, citing people familiar with the matter, provided …

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