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New Drilling Technology to Put Billions of Barrels of Oil in Reach

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Offshore, Oil, Pinned Primary, US News / By

HOUSTON, (Reuters) – An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. …

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Oil Extends Gains for Fifth Session Supported by Mideast Tensions

Latest, Oil, Pinned Primary, US News / By

Oil prices rose for a fifth consecutive session on Monday, holding on to last week’s more than 3% gains, as U.S. recession fears eased while geopolitical tensions in the Middle East supported prices. Brent crude futures climbed 22 cents, or 0.3%, to $79.88 a barrel by 0458 GMT, while U.S. West Texas Intermediate crude futures …

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Exxon’s Dominance May Not Be Good for Exxon

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

By Robert Cyran NEW YORK, Aug 2 (Reuters Breakingviews) – Exxon Mobil  is barging ahead of rival Chevron. Second-quarter figures reported on Friday showed the $520 billion oil giant churned out $9.2 billion of profit, thanks to the benefits of its $60 billion deal for Pioneer Natural Resources and record production in oil fields in Texas and offshore South …

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U.S. Oil and Gas Mergers Continue at Furious Pace in Q2

Energy Topics & Technology, Latest, Mergers and Acquisitions, Pinned Primary, US News / By

By Gary Mcwilliams Big dollar deals like Conoco-Marathon Oil driving activity Average price paid per undeveloped property up 68% this year Exxon’s deal for Pioneer kicked off latest wave of mergers HOUSTON, July 30 (Reuters) – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big …

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Harris Backs Off Fracking Ban as GOP Campaigns on Past Position

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pinned Primary, US News, Well Optimization / By

Harris supported ban on extraction method as candidate in 2019 Reversal shows focus on vice president after Biden dropped out Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracking, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. Harris’ previous anti-fracking position …

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Baker Hughes Sees Lower North America Activity; Bets on Foreign Demand

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By Reuters (Reuters) – Baker Hughes  cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. …

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Goldman Sachs Says Next U.S. President to Have Limited Tools to Significantly Boost 2025 Oil Supply

Conventional Energy, Latest, Oil, Pinned Primary, US News / By

July 25 (Reuters) – Goldman Sachs  said on Thursday that whoever wins the U.S. presidential election in November will have limited tools to significantly boost domestic oil supply next year. Strategic petroleum reserve stocks are low and regulatory easing may only significantly boost U.S. long-run supply, the bank said in a client note. Oil prices rose …

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Explainer: What Are Harris’ Business Views? Friendly to Big Tech, Aggressive in Climate Fight

Energy Commentary, Energy Topics & Technology, Environment, Latest, Pinned Primary, US News / By

(Reuters) – U.S. Vice President Kamala Harris is potentially poised to become the Democratic presidential nominee in the November election. Here are her views and actions related to some key business topics. BIG TECH As a candidate for California attorney general, Harris reportedly assured potential donors that she was “a capitalist.” She has generally been seen as …

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U.S. Senators Introduce Bill to Speed Approvals of Energy Projects

Conventional Energy, Latest, LNG, Natural Gas, Oil, Pinned Primary, US News / By

The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. …

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Texas Tanker Bottleneck Grows on Slow Freeport LNG Restart after Beryl

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The number of liquefied natural gas (LNG) tankers waiting to load at Freeport LNG in Texas has increased since the U.S. second largest exporter of the supercooled gas halted processing ahead of Hurricane Beryl’s landfall last week, according to shipping data on Thursday. Beryl made landfall on July 8 near Matagorda, on the Texas coast, …

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