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The US Coast Guard said Saturday no remaining sheen was observed on Pacific waters following reports of a potential oil spill south of Los Angeles near Huntington Beach. Officials on Friday responded to an oily sheen 2.5 miles (4 kilometers) long and 0.5 miles wide near the Emmy and Eva oil platforms, about 2.8 miles off Huntington …
Coast Guard Says No Sheen Left After Potential Oil Spill Near LA Read More »
Amplify, California Resources deny connection to possible leak Investigation focused on area near site of 2021 crude spill California officials are investigating a potential oil spill south of Los Angeles near Huntington Beach, close to where a serious offshore leak occurred in 2021. The US Coast Guard on Friday reported an oily sheen 2.5 miles (4 kilometers) …
California Investigates Potential Offshore Oil Spill Near Los Angeles Read More »
Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals. On Wednesday, Exxon filed an arbitration claim that could block Hess’ proposed merger with Chevron. …
Chevron’s CEO Faces Challenges of a Lifetime With Hess Bid Read More »
Summary OPEC+ expected to make a decision in March on output cuts Spare capacity at multi-year highs- analyst For table of crude price forecasts, click Feb 29 (Reuters) – Analysts were less bullish on oil in February for a fourth straight month, with ample supplies seen holding prices near $80 a barrel this year as …
Oil Prices Expected to Remain Tethered Near $80 a Barrel Read More »
As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends. But according to more …
Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics While Preserving Low Leverage; …
For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or …
Tumbling U.S. Natural Gas Prices Prove Unstoppable, Hurting Producers Read More »
A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger of gas-producing Texas 224-200 on a mostly party-line …
Republican lawmakers opposing President Joe Biden’s pause on LNG export approvals said the U.S. House of Representatives will vote on Friday on a bill to take those approvals out of the hands of the Department of Energy. The bill has been in development since before the move last month by Biden, a Democrat, to pause …
U.S. House to Vote on Biden’s LNG Political Pause Friday, White House Defends Move Read More »
(Reuters) – Shale producer Diamondback Energy said on Monday it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 billion, including debt. The combined company would be the third largest oil and gas producer in the region behind Exxon and …
Diamondback to Buy Endeavor Energy in $26 Billion Mega Shale Deal Read More »
