Auto Added by WPeMatico
(Reuters) – On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged just over a year earlier, hissing gas and bubbling toxic water into the dry Texas dirt. Dressed …
Texas Oil Regulator Under Scrutiny as Zombie Wells Gush Back to Life Read More »
(Reuters) – Oil prices were broadly steady on Wednesday, as concerns that conflict may spread in the Middle East and threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures slipped 10 cents, or 0.1%, to $80.59 a barrel by 1057 GMT. U.S. West Texas Intermediate crude futures …
Oil Holds Pricing as Fears over Middle East Ease Read More »
HOUSTON, (Reuters) – An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. …
New Drilling Technology to Put Billions of Barrels of Oil in Reach Read More »
Greater operating efficiencies in the top U.S. shale patch are squeezing out more oil without higher spending, according to the latest output numbers, which will boost global oil market supplies as OPEC also plans to unwind its output cuts later in the year. Producers are extending their wells to as much as three miles, squeezing …
U.S. Shale Companies Produce More Crude Using Fewer Rigs Read More »
Summary Brent benchmark saw the biggest percentage gain this year US to send guided missile submarine to Middle East Wider war could lead to US embargos on Iranian crude: analyst (Reuters) – Oil prices jumped by more than 3% on Monday, rising for a fifth consecutive session on expectations of a widening Middle Eastern conflict …
Oil Prices Jump on Prospect of Widening Middle East War Shrinking Supply Read More »
Company pushes further into ranks of biggest energy producers Acquisition follows C$1.5 billion Bonavista deal last year Tourmaline Oil Corp. agreed to buy Crew Energy Inc. for C$1.3 billion ($947 million) as Canada’s biggest gas driller pushes to grow production in anticipation of rising gas demand for power and exports. The all-stock transaction is valued at approximately C$6.69 …
Tourmaline Oil to Buy Crew Energy in $947 Million Deal Read More »
There’s little doubt that avoiding the most dire effects of climate change requires phasing out power stations that burn coal, the biggest source of carbon dioxide emissions. Yet the opposite is happening. Even as temperatures on Earth smash new records and scientists warn the climate is reaching dangerous tipping points, the amount of coal being …
We’re Burning More Climate-Warming Coal Than Ever. Why? Read More »
HOUSTON, Aug 12 (Reuters) – Exxon Mobil issued a layoff notice to 59 employees as part of its workforce reshuffle following its $60 billion acquisition of Pioneer Natural Resources, according to a filing with the Texas Workforce Commission. Exxon said more than 1,500 Pioneer employees were offered jobs as part of the merger. Pioneer had roughly …
Layoffs Begin – Exxon Reports 59 Layoffs to Texas Agency Post-Pioneer Acquisition Read More »
(Reuters) U.S. natural gas futures rose more than 1% to a near three-week high on Monday, supported by a drop in output in recent days and forecasts for hotter weather that should boost the amount of gas power generators burn to keep air conditioners humming. Front-month gas futures for September delivery on the New York …
US Natgas Hits Near 3-Week High on Output Drop, Hotter Weather Forecasts Read More »
(Reuters) The U.S. is seeking to buy another 6 million barrels of oil from energy companies to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said on Monday. The solicitation of oil for the SPR is the first for delivery into the facility’s Bryan Mound, Texas site since it underwent maintenance work …
US Seeks 6 Million Barrels of Oil for Strategic Petroleum Reserve Read More »
