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(Reuters) – Oil prices were steady on Monday near five-month highs as markets expect tighter supply from OPEC+ cuts and attacks on Russian refineries while upbeat Chinese manufacturing data supported an improving demand outlook. Brent crude was 10 cents lower at $86.90 a barrel by 1115 GMT after rising 2.4% last week. U.S. West Texas …
Oil Stays Near Five-Month Highs as Tighter Supply Looms Read More »
Chesapeake Energy Corp. plans to put 80 new natural gas wells into suspended animation by the end of this year with an eye to turning them on when prices for power-plant and heating fuel rebound from the lowest prices in years. The company already has drilled 15 such wells that are sitting in reserve, Chief Operating …
Chesapeake Is Stockpiling New Gas Wells to Await Higher Prices Read More »
Hess Corp on Thursday said in a securities filing that its board unanimously recommended shareholders vote in favor of the company’s sale to Chevron Corp, and that Exxon Mobil had initially supported the deal. The $53 billion deal’s closing has been delayed by a second request for information by the U.S. Federal Trade Commission and by contract arbitration …
Hess Board Recommends Shareholders Vote in Favor of Chevron Merger -Filing Read More »
Oil and gas production in Texas, Louisiana and New Mexico decreased in the first quarter of 2024, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly survey of energy activity. The survey of executives at 147 energy firms suggested a small decline in production. A natural gas production index also turned negative …
Oil and Gas Production Decreased in the First Quarter – Dallas Fed Read More »
Bloomberg Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into a void left by banks exiting assets they worry pose too big a climate risk. The value of private credit deals in the oil and gas industry topped $9 billion in the 24 months through 2023, …
Banks Shying Away From Fossil Fuels Bolster Private Credit Deals Read More »
Exxon Mobil is ahead of schedule with its plan to double the size of its liquefied natural gas (LNG) portfolio to 40 million tons per annum (mtpa) by 2030 and will focus on selling its own gas rather than trading that of third parties, the company’s LNG chief said on Thursday. Exxon is revamping its …
Exxon Ahead of Schedule on Doubling LNG Portfolio, Exec Says Read More »
Debottlenecking maintenance underway through early May Additional capacity to be marketed directly by Texas producer Freeport LNG will increase its production of liquefied natural gas following repairs that are due to be concluded in early May, the company’s chief executive officer said in an interview. Maintenance will increase the Texas facility’s capacity to 16.5 million metric …
Freeport LNG to Increase Production by 10% Following Repairs Read More »
Exxon Mobil will bring its Permian basin output up to 2 million barrels per day by 2027, while it also ramps up production in Guyana, Vice President of Global Exploration John Ardill said on Tuesday at a conference in Houston. Exxon has grown its position in the Permian significantly since 2017, when it acquired some …
Exxon Mobil Eyes 2 Million Bpd of Output in the Permian by 2027 Read More »
U.S. oil production will grow to exceed 14 million barrels per day and then plateau, ConocoPhillips CEO Ryan Lance forecast on Tuesday. Output in the top U.S. shale field, the Permian basin of West Texas and New Mexico, will rise between 300,000 bpd and 400,000 bpd this year, he said in remarks at the CERAWeek energy energy …
U.S. Oil Output to Exceed 14 Million bpd and Then Plateau, Says Conoco chief Read More »
HOUSTON, March 19 (Reuters) – Chevron was surprised when Exxon Mobil filed for arbitration over Chevron’s plans to buy Hess’s Guyana oilfield stake, Chevron CEO Michael Wirth said on Tuesday. The dispute threatens to derail Chevron’s $53 billion takeover of Hess. The 30% stake in the prolific Exxon-operated Stabroek oilfield in Guyana is Hess’s most valuable asset. Exxon says …
Chevron Surprised When Exxon Filed for Arbitration Over Guyana – CEO Read More »
