Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth. SourceContinue Reading
Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said. SourceContinue Reading
Rally-to-rout oil price gyrations show how the cartel’s internal rifts threaten the stability of the global economic recovery amid concerns about inflation, and tarnished the group’s self-image as a reliable steward of the oil market. SourceContinue Reading
Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’ patented poroelastic response measurement [PRM] technology, and the companies will perform joint research and development in the PRM technology space. SourceContinue Reading
Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt. SourceContinue Reading
Oil jumped to the highest in more than six years after a bitter fight between Saudi Arabia and the United Arab Emirates plunged OPEC+ into crisis and blocked a supply increase. SourceContinue Reading
The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions. SourceContinue Reading
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. SourceContinue Reading
The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. SourceContinue Reading
The group’s oil ministers were unable to reach a compromise, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic. SourceContinue Reading
