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North Dakota oil production swells as wells go back online | Star Tribune

The steep oil price drop in the spring caused a big dip in production, but the industry is back to more normal levels.

North Dakota’s oil output soared 14% in August as more wells shut down earlier in the spring because of the coronavirus crisis came back online.

“It is nice to note that we are back on the road again to healthy production,” Lynn Helms, director of North Dakota’s Mineral Resources…

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#business #energy #flaring #Fracking #North Dakota #oil and gas #Oil Country Media #oil prices #oil production #operators #shale

ConocoPhillips to Buy Shale Rival Concho for $9.7 Billion - WSJ

ConocoPhillips to Buy Shale Rival Concho for $9.7 Billion – WSJ

The acquisition gives ConocoPhillips, the largest oil producer in Alaska, a much larger footprint in the hottest oil field in the U.S., the Permian Basin of Texas and New Mexico. The combined company would be the largest U.S. oil independent, with output in the Permian second only to Occidental Petroleum Corp. , according to a JPMorgan Chase & Co. analysis of Enverus data.

“Sector consolidation…

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#business #Concho #ConocoPhillips #energy #energy industry #oil and gas #Oil Country Media #Permian Basin #sector consolidation

US Shales M&A Activity | Deloitte US

In March 2020, Deloitte developed this research report exploring the latest in shale oil news and shared a roadmap for extracting more value from shale mergers and acquisitions. We now expect that the plunge in oil prices and COVID-led demand uncertainty will likely pause and change the calculus of M&A activity in shales. Although consolidation might be a necessity for many US shale operators to…

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#business #Eagle Ford #energy industry #EUR #oil and gas #oil and gas industry #Oil Country Media #operators #Permian Basin #production #shale #well spacing

DUG Permian Basin and DUG Eagle Ford Virtual Conference is LIVE! | Hart Energy

Today is the day! Day 1!

The DUG Permian Basin and DUG Eagle Ford Virtual Conference is live at 9 a.m. CDT today!

Log on for complimentary access!dugpermian.live/Oil-Country-Media

Please share this link with your team, customers & colleagues because all sessions are available on-demand, meaning they are available to watch at your convenience!

Hear from operators & analysts discuss technology,…

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U.S. crude oil exports have fallen in each month since their record high in February - Today in Energy - U.S. Energy Information Administration (EIA)

U.S. crude oil exports have fallen in each month since their record high in February – Today in Energy – U.S. Energy Information Administration (EIA)

September 22, 2020

U.S. crude oil exports reached a record high in February 2020 and have since fallen in each month, based on data through June, according to the U.S. Energy Information Administration’s (EIA) Petroleum Supply Monthly. However, U.S. crude oil exports in the first half of the year are still higher than they were in the first half of 2019. Monthly crude oil imports declined sharply…

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#business #crude oil #energy #energy industry #exports #global demand #oil and gas #petroleum #petroleum products

Oil Up, Clawing Back After Overnight Spill By Investing.com | Armenian American Reporter

By Adam Claringbull

Investing. com– Oil were up on Tuesday early morning in Asia, as Tropical Storm Beta in the Gulf of Mexico compromised. However, strong falls came overnight as international COVID-19 cases made a revival, pressing WTI Futures back listed below $40.

were up 0.41% to $41.61 by 11:52 AM ET (4:52 AM GMT) and increased 0.46% to $39.72.

Oil rates were buoyed as Tropical Storm Beta…

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#API #energy industry #oil and gas #oil and gas industry #oil price #oil prices

Fortuna Resources LLC Partners with Och-Ziff Affiliates to Pursue Oil and Gas Acquisition and Development Opportunities | PRN Newswire | Oil Country Media

HOUSTON, May 16, 2016 /PRNewswire/ —

Fortuna Resources Holdings, LLC (“Fortuna”) announced that certain affiliates of Och-Ziff Capital Management Group LLC (NYSE: OZM) (“Och-Ziff”) have committed $75 million to Fortuna, with an option to increase to $150 million. The investment is focused on expanding Fortuna’s activities in the West Texas Permian Basin and related areas through acreage and…

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#business #energy #energy industry #Och-Ziff #oil and gas #Oil Country Media #oil country tubular goods #Permian Basin #private energy #prn newswire

North Dakota oil output rose about 20% in July | Reuters

North Dakota oil production jumped to more than 1 million barrels a day in July for the first time in two months but remained below its peak as the coronavirus pandemic continued to hamper output in the state’s Bakken shale field, a state official said on Tuesday. — Read on www.reuters.com/article/usa-oil-north-dakota/north-dakota-oil-output-rose-about-20-in-july-idUSL1N2GC29O

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#Bakken #energy industry #hydraulic fracturing #oil and gas #shale

RRC: Drilling permits continue to rise in Midland region, across the state - Midland Reporter-Telegram

RRC: Drilling permits continue to rise in Midland region, across the state – Midland Reporter-Telegram

The Midland district dominated in August when it came to drilling permits, new oil completions and new gas completions, according to the Railroad Commission of Texas. The RRC reported the region – 8 – accounted for 55.9 percent of the 377 drilling permits in the state. The 211 in the Midland district was 176 more than the North Texas district. The number of drilling permits continued the trend of…

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#business #energy #energy industry #oil and gas #Oil Country Media #Permian Basin #permits

Oil companies idle production as U.S. Gulf Coast braces for hurricane | Reuters

HOUSTON (Reuters) – Offshore platforms and one refinery along the U.S. Gulf Coast shut down on Sunday as they prepared for a second hurricane strike in less than a month.

Phillips 66 PSX.N began shutting its 255,600 barrel-per-day (bpd) Alliance, Louisiana, refinery as Tropical Storm Sally was forecast to pass just west of the plant, 24 miles (38 km) south of New Orleans.

Other refineries in…

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#business #Offshore #oil and gas #Oil Country Media

New Analysis Shows Gulf Coast States Among Hardest Hit by Proposal to Ban Federal Leasing and Offshore Development - TXOGA

New Analysis Shows Gulf Coast States Among Hardest Hit by Proposal to Ban Federal Leasing and Offshore Development – TXOGA

Ban Would Jeopardize Over 200,000 Gulf Coast Jobs, Millions in Revenue for States

September 9, 2020

AUSTIN – The Texas Oil and Gas Association (TXOGA), Louisiana Mid-Continent Oil and Gas Association (LMOGA) and the American Petroleum Institute (API) today released a new analysis warning of negative consequences from a proposed ban on federal leasing on natural gas and oil development on public…

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#ban on federal leasing #business #energy #kristenoctg #natural gas #Offshore #oil and gas #Oil and Gas Jobs

AG Jennings announces suit to hold Exxon, American Petroleum Institute, 29 others accountable for climate change costs - State of Delaware News

AG Jennings announces suit to hold Exxon, American Petroleum Institute, 29 others accountable for climate change costs – State of Delaware News

Claims include Negligent Failure to Warn, Trespass, Nuisance and Consumer Fraud Act violations

Attorney General Kathy Jennings announced Thursday that Delaware is suing 31 fossil fuel companies on behalf of the state’s residents and businesses to hold them accountable for decades of deception about the role their products play in causing climate change, the harm that is causing in Delaware, and…

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#American Petroleum Institute #business #climate change #energy #energy industry #Fossil Fuels #oil and gas #Oil Country Media

Trump extends Florida offshore drilling pause, expands it to Georgia, South Carolina | TheHill

President Trump on Tuesday moved to block oil and gas drilling off the coasts of Florida, Georgia and South Carolina until mid-2032, a decade longer than drilling is currently delayed off Florida’s Gulf Coast.

“I will sign a presidential order extending the moratorium on offshore drilling on Florida’s Gulf Coast and expanding it to Florida’s Atlantic Coast as well as the coasts of Georgia and…

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#american business #Biden #business #Deepwater Horizon #energy #energy independence #energy industry #Offshore #oil and gas #Pro American energy policies #The Hill #Trump Administration

Hurricane Laura has minimal impact on Calcasieu Pass LNG - Offshore Energy

Hurricane Laura has minimal impact on Calcasieu Pass LNG – Offshore Energy

The company noted that the hurricane made landfall in Louisiana early in the morning of Thursday, August 27, and passed directly over the project site.

A walk-through inspection of most areas of the site following the storm confirmed that the project site’s robust storm protection system, including a perimeter wall and storm water pumping system, performed as designed, the company said in its…

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#business #energy #Hurricane Laura #LNG #Offshore #oil and gas

U.S. oil production rose to 10.4 million bpd in June: EIA - Reuters

U.S. oil production rose to 10.4 million bpd in June: EIA – Reuters

NEW YORK (Reuters) – U.S. oil production rose in June, but did not fully recover from a dramatic plunge in May, according to a government report on Monday.

U.S. oil output rose 420,000 barrels per day in June to 10.436 million barrels a day, the U.S. Energy Information Administration said in a monthly report on Monday. Production remained far below April levels of 11.99 million bpd.

Production in…

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#american business #energy industry #oil and gas #Oil Country Media #texas oil

Permian oil drillers bounce back with biggest rig hike this year - Midland Reporter-Telegram

Permian oil drillers bounce back with biggest rig hike this year – Midland Reporter-Telegram

Drillers in the Permian Basin of West Texas and New Mexico led the rest of the nation in expanding the rig count. With crude stabilizing above $40 a barrel, the total number of active U.S. oil rigs rose by 11 to 183 this week, according to Baker Hughes Co. data released Friday.

Photo: James Durbin/The Oilfield Photographer/ Midland Reporter-Telegram Buy Photo

(…

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#oil and gas #Permian Basin #The Oilfield Photographer

Offshore oil and gas production is crimped by Gulf storms | AP News

Offshore oil and gas production is crimped by Gulf storms

By DAVID KOENIG August 23, 2020

Oil and gas production in the Gulf of Mexico was slowed Sunday by the approach of two storms that led companies to remove workers from more than 100 offshore platforms.

The Interior Department said that based on company reports at midday, 114 platforms had been evacuated. That is 18% of the staffed platforms…

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#american business #business #energy industry #Hurricane Marco #industry challenges #Offshore #oil and gas #Oil Country Media #Tropical Storm Laura

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