US Gas Rig Count Falls to Lowest Since January 2022
The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to March 22.
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CERAWeek: Human Oversight, Machine Power: AI’s Future in Energy
A CERAWeek panel tackles how AI’s hunger for complexity can devour the energy industry’s toughest challenges.
Exxon Ahead of Schedule on Doubling LNG Portfolio, Exec Says
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 …
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U.S. Natgas Prices Ease 1% to Three-Week Low on Mild Forecasts
U.S. natural gas futures eased about 1% to a three-week low on Thursday on forecasts for milder weather over the next two weeks than previously expected, ample gas in storage and expectations gas flows to liquefied natural gas (LNG) export plants would remain low through May due to outages at Freeport LNG’s plant in Texas. …
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Summit Midstream Partners to Sell Utica Assets to MPLX for $625 Mln
(Reuters) – Pipeline operator Summit Midstream Partners said on Friday it would sell its Utica assets to a unit of midstream energy company MPLX LP for about $625 million in cash. The Marcellus and Utica shale, spread across Pennsylvania, West Virginia and Ohio, are among the regions where U.S. drillers have been cutting the number of gas …
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Ukraine Says Russian Oil Refineries Are Legitimate Targets
(Reuters) – A Ukrainian deputy prime minister said on Friday Russian oil refineries were legitimate targets for its forces, after a media report said the United States, a close ally, had asked Kyiv to stop conducting drone strikes on refineries. Ukraine dramatically stepped up its attacks on Russian energy facilities this month, launching numerous long-range drones to …
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CERAWeek: Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
Global oil consumption is outpacing expectations this year Oil executives gathered in Houston confident on demand outlook The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak. The unabated thirst for crude contributed to an increasingly confident tone from executives …
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Mexico’s Pemex Put Off Repairs Despite Vast Methane Leak
(Reuters) – Mexican state energy company Pemex put off urgent repairs and maintenance at an important offshore platform for months, resulting in methane spewing into the atmosphere, according to internal documents and three sources familiar with the infrastructure. Methane, the main component of natural gas, is a much more potent driver of global warming in …
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Epsilon Energy Ltd. Announces Full Year 2023 Results
HOUSTON, March 20, 2024 (GLOBE NEWSWIRE) — Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today reported its financial results for the fourth quarter and full-year ended December 31, 2023. Epsilon’s highlights for full-year 2023 include: Net revenue interest (NRI) total production of 9.0 Bcfe (24.6 MMcfe per day) for the year ended December …
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ChampionX Agrees to Acquire RMSpumptools, Expanding Reach in International, Offshore Production Technologies Markets
THE WOODLANDS, Texas, March 22, 2024 (GLOBE NEWSWIRE) — ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX), a global leader in oilfield technology, announced today it plans to acquire RMSpumptools Limited, a business unit of the energy division of UK-based James Fisher and Sons plc (“JFS”). The unit designs and manufactures highly engineered mechanical and …