E&P Highlights: June 4, 2024
Here’s a roundup of the latest E&P headlines, with new contracts awarded and larger commitments made for oil and gas exploration in South Korea and Australia.
Latest
Exclusive: Continental Dives Deep Into Anadarko’s Complexities
The Anadarko Basin’s complexities are not stopping Continental Resources from capitalizing on its resources and eyeing acreage that may possibly be on the market soon following the closing of some big deals, the company’s Vice President of the Anadarko Basin Aaron Chang told Hart Energy’s Nissa Darbonne at SUPER DUG.
International Battery Metals Names New CEO
Iris Jancik will succeed Garry Flowers as IBAT CEO when she takes the helm in mid-August.
U.S. Henry Hub Natgas Prices Fall to Four-Year Low in May
U.S. spot natural gas prices at the Henry Hub benchmark in Louisiana fell to a four-year low in May, according to data from financial firm LSEG. Gas prices averaged $2.12 per million British thermal units (mmBtu) in May, their lowest since falling to a 25-year low of $1.75 during the month in 2020. That compares …
U.S. Henry Hub Natgas Prices Fall to Four-Year Low in May Read More »
U.S. Oil Futures Draw Renewed Interest from Hedge Funds: Kemp
Portfolio investors purchased petroleum contracts for the first time in seven weeks as traders squared up short positions ahead of a meeting of OPEC⁺ ministers to decide production policy in the second half of 2024. Hedge funds and other money managers purchased the equivalent of 21 million barrels in the six most important futures and …
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U.S. LNG Exports Rise in May as Freeport LNG Returns to Production
U.S. exports of liquefied natural gas (LNG) rebounded in May as Freeport LNG, the country’s second-largest exporter of the superchilled gas, returned to full production and as more supplies flowed to Asia, preliminary data from LSEG showed. The U.S. is the world’s largest exporter of LNG and a key supplier to Europe since Russia’s invasion …
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Enbridge Completes Acquisition of Questar Gas Company
CALGARY, AB, June 3, 2024 /CNW/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (“Enbridge” or the “Company”) announced today the closing of its acquisition of the Questar Gas Company (“Questar Gas”) and its related Wexpro companies (“Wexpro” and collectively with Questar Gas, “Questar”) from Dominion Energy, Inc. (“Dominion”). The Questar Gas utility will be doing business in Utah as Enbridge Gas …
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What’s Affecting Oil Prices This Week? (June 3, 2024)
For 2024, Stratas Advisors says increasing supply will be more challenging unless U.S. producers start ramping up their capital expenditures and drilling programs beyond their current plans.
Regional Banks Take Advantage of Large Lenders’ Oil, Gas Hesitancy
Regional banks are picking up market share and rallying the U.S. upstream sector.
OPEC Output Cuts Seen as Bearish by Analysts
WTI and Brent oil prices inched lower as investors weighed extended OPEC+ supply cuts.