US Drillers Add Oil, Gas Rigs for First Time in Eight Weeks
For January, total oil and gas rigs fell by seven, the most in a month since June, with both oil and gas rigs down by four in January.
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ONEOK Completes EnLink Midstream Takeover for $4.3B
ONEOK had agreed to acquire the remaining stake in EnLink in November 2024 for $4.3 billion after having acquired the controlling interest a month prior.
Ovintiv Closes Montney Acquisition, Completing $4.3B in M&A
Ovintiv closed its $2.3 billion acquisition of Paramount Resource’s Montney Shale assets on Jan. 31 after divesting Unita Basin assets for $2 billion last week.
Liberty Capitalizing on Power Generation as Completions Stay Flat
New Liberty Energy Inc. CEO Ron Gusek says company is ‘uniquely positioned’ to deliver modular units for data centers.
Trudeau Says Canada Would Respond to Tariffs, Warns of Tough Times to Come
(Reuters) – Canada will respond immediately and forcefully if the United States goes ahead with a threat to impose tariffs, Prime Minister Justin Trudeau said on Friday, warning Canadians that they could be facing tough times. President Donald Trump has set a Saturday deadline to slap a 25% tariff on imports from Canada and Mexico. …
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OPEC+ Unlikely to Change Output Policy When Panel Meets on Monday, Sources Say
(Reuters) – OPEC+ is unlikely to alter existing plans to raise output gradually when it meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC and its de facto leader Saudi Arabia to bring down prices. The meeting of top ministers from the Organization of the Petroleum Exporting …
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Phillips 66 Reports Fourth-Quarter Results and Announces Next Phase of Strategic Initiatives
Fourth Quarter Reported fourth-quarter earnings of $8 million or $0.01 per share; adjusted loss of $61 million or $0.15 per share Earnings impacted by $230 million pre-tax of accelerated depreciation related to Los Angeles Refinery Returned $1.1 billion to shareholders through dividends and share repurchases Record NGL fractionation and LPG export volumes in Midstream Record …
Canada’s Imperial Oil Quarterly Profit Falls on Weak Crude Prices
Canadian oil producer Imperial Oil posted a fall in fourth-quarter profit on Friday, as lower crude prices offset higher production and stronger refinery-capacity utilization.Benchmark crude prices fell 3% in 2024. The company still raised its quarterly dividend by 20% to between 60 and 72 Canadian cents per share. Imperial’s upstream production for the October-December quarter was …
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Oil Producer Chevron Uses Term ‘Gulf of America’ After Trump Renaming Order
HOUSTON, Jan 31 – U.S. oil producer Chevron used the term “Gulf of America” instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump’s order to rename the ocean basin. The name change was part of a flurry of executive orders Trump issued …
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Ovintiv Announces Closing of Montney Asset Acquisition
DENVER, Jan. 31, 2025 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (“Ovintiv” or the “Company”) today closed the previously announced acquisition of certain Montney assets from Paramount Resources Ltd. The acquisition adds approximately 70 thousand barrels of oil equivalent per day (“MBOE/d”) of production, 900 net 10,000 foot equivalent well locations, and approximately 109,000 net acres of land, …
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