Halliburton Launches Horizontal Drilling Resistivity Service
Halliburton Co.’s EarthStar 3DX provides real-time data for operators to reduce risk and increase reservoir contact.
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BP Targets 25% Resource Recovery from Eagle Ford Refracs
BPX employs a strategy that’s “a little bit country, a little bit rock and roll” to maximize assets across the portfolio, especially in the Eagle Ford, says Shawn Holzhauser, vice president for development.
Black Stone Enters, Amends Haynesville Deals with Revenant, Aethon
Black Stone Minerals entered into a development agreement in the Shelby Trough with Revenant Energy and amended an agreement to have 50,000 acres returned by Aethon Energy in exchange for reducing annual well commitments.
Goldman Remains Cautious on Oil Prices as Higher Iranian Supply Prospects Weigh
Goldman Sachs said on Sunday it is retaining a cautious outlook on oil prices, as pressure from likely elevated Iranian supply and higher OECD commercial inventories will offset support from stronger global GDP growth. “We are maintaining our Brent/WTI oil price forecasts of $60/56 ($4 below the forwards) for the remainder of 2025 and $56/52 …
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EU Likely to Propose to G7 to Lower Price Cap on Russian Oil to $50 Per Barrel
The European Union will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said. “This is something which we flagged from the Commission’s side in the context of the 18th …
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Lifting US Sanctions on Iran Could Crush China’s ‘Teapot’ Oil Refineries
By Ron Bousso Summary Chinese independent refineries accounted for 77% of Iran 2024 exports Iranian imports are discounted, offering profits uplift Removal of sanctions will undermine teapots’ business model LONDON, May 19 – The possible lifting of U.S. sanctions on Iran’s oil exports could deal a fatal blow to independent Chinese refineries that have thrived by …
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What’s Affecting Oil Prices This Week? (May 19, 2025)
Oil prices continue to move upwards, but the outlook is murky with the fate of tariffs still undecided and potential OPEC+ production increases.
How BP Top Brass Can Get an Elliott-Backed Revamp
May 19 (Reuters Breakingviews) – Elliott Investment Management’s next big move at BP is installing board leadership it likes. The U.S. activist, which now holds 5% of the struggling $78 billion oil major, understandably wants a swift replacement for departing Chair Helge Lund. While suitable candidates aren’t exactly abundant, some exist. The sooner a new …
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First LNG Ship Bunkering Hub in US Gulf Coast Secures Permits to Start Work
(Reuters) – A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG …
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North Dakota Oil E&Ps plan Drop in Rigs on Weak Prices, State Says
Oil producers in the state, home to the Bakken play, have started to slow output and dropped rigs as prices have fallen below $65, the price required to break even.