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ERCOT Directors Resign

Industry Headlines

New Institutions Join API MSI Initiative Share your comments
Sunday, February 28, 2021The American Petroleum Institute and the Louisiana Mid-Continent Oil & Gas Association have announced that two new educational institutions have joined API's Minority Serving Institution initiative.

Large Oil and Gas Find Made in Bohai Bay and More Share your comments
Saturday, February 27, 2021Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Oil Futures Slide As Dollar Gets Stronger Share your comments
Friday, February 26, 2021Oil fell the most since November.

Texas Freeze Highlights Energy Paradox Share your comments
Friday, February 26, 2021Rigzone recaps some oil and gas market hits and misses for the week ending Feb. 26, 2021.

Oil Set for Fourth Monthly Gain Share your comments
Friday, February 26, 2021Oil is heading for a fourth monthly gain with the global market tightening as investors await the OPEC+ meeting next week.

ERCOT Directors Resign Share your comments
Friday, February 26, 2021Four unaffiliated directors from the Electric Reliability Council of Texas (ERCOT) board have resigned, according to a filing seen by Rigzone on the Public Utility Commission of Texas website.

Oil Prices Mixed Amid Tighter Market Signals Share your comments
Thursday, February 25, 2021Oil flipped between small gains and losses.

DOE Awarding up to $46MM for Geothermal Projects Share your comments
Thursday, February 25, 2021The U.S. Department of Energy's Frontier Observatory for Research in Geothermal Energy Initiative has selected 17 projects to receive up to $46 million in funding.

Oil Up with Global Market Tightening Share your comments
Thursday, February 25, 2021Oil extended gains after closing at the highest level in more than a year as a slump in U.S. crude production following the cold blast and shrinking European stockpiles tightened the market further.

Light Crude Clears $63 Share your comments
Wednesday, February 24, 2021Oil surged to the highest in more than a year.


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Exploration

Baker Hughes Count Shows 400+ USA Rigs Share your comments
Saturday, February 27, 2021Baker Hughes reported the total number of rotary drilling rigs operating in the United States crossed the 400-mark this week.

Offshore Bill Would Give States More Say in Oil and Gas Leasing Share your comments
Friday, February 26, 2021The bipartisan bill would give coastal state governors a bigger role in opening offshore oil and gas development.

Karish North Contract Goes to TechnipFMC Share your comments
Thursday, February 25, 2021This Nov. 2020 image shows the Energean Power FPSO under construction at Admiralty Yard in Singapore. PHOTO SOURCE: Energean plc

Petronas Makes Oil and Gas Discoveries Share your comments
Wednesday, February 24, 2021Petronas announced two separate discoveries on Wednesday; Hidayah-1, an oil discovery offshore Indonesia, and Dokong-1, a gas discovery offshore Malaysia.

Aker BP Awards Norwegian Sea 4D Survey Share your comments
Wednesday, February 24, 2021Shearwater will use its SW Tasman and SW Cook multi-purpose vessels for the project. PHOTO SOURCE: Shearwater GeoServices

Morocco Subsea Project Gets on Fast Track Share your comments
Wednesday, February 24, 2021The deal will facilitate front-end design, engineering, procurement, construction, installation, and operations of the Anchois project.

Petronas Taps TechnipFMC Unit for Deepwater Project Share your comments
Tuesday, February 23, 2021PETRONAS Carigali has awarded a deepwater development contract to FMC Wellhead Equipment.


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Production

Scoop Stack Oil Output Slashed Share your comments
Thursday, February 25, 2021Production in Oklahoma's Scoop Stack shale play is forecasted to hit 342,000 barrels of oil per day and 5.8 billion cubic feet per day this month, according to GlobalData's latest report.

Is US Shale No Longer a Threat to OPEC+? Share your comments
Wednesday, February 24, 2021OPEC and its allies no longer need to be worried about competition for market share from the US, according to Pioneer's CEO.

Biden Keystone XL Snub Props Up Crude-by-Rail Share your comments
Wednesday, February 24, 2021Oil exports by rail from Canada have more than tripled since July.

Oxy Expects 40% Unused Pipeline Capacity from Permian Share your comments
Wednesday, February 24, 2021The company's expected 485,000 bpd of Permian oil equivalent production represents just 60% of its committed pipeline capacity.

Well Plugging Starts in Pioneering North Sea Field Share your comments
Tuesday, February 23, 2021Plugging operations began last month in conjunction with the planned shutdown of the Veslefrikk field. PHOTO SOURCE: Øyvind Hagen/Equinor

Neptune Starts Gjoa P1 Production Share your comments
Tuesday, February 23, 2021Neptune Energy announced Tuesday that production has started from the Gjoa P1 development in the Norwegian sector of the North Sea.


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Finance and Investing

Oil Benchmark Revamp Sees Opaque Swaps Trading Surge Share your comments
Thursday, February 25, 2021A planned overhaul of how the world's most important benchmark crude price is calculated has caused a surge in trading of swaps used to hedge North Sea oil prices.

Big Oil Posts Record Loss in 2020 Share your comments
Tuesday, February 23, 2021The five integrated supermajors – ExxonMobil (NYSE: XOM), BP (NYSE: BP), Shell (NYSE: RDS.A), Chevron (NYSE: CVX), and Total (NYSE: TOT) – posted a combined record loss of $76 billion in 2020.

Eni Reports Surprise Quarterly Profit Share your comments
Friday, February 19, 2021Eni SpA posted a surprise fourth-quarter profit as crude prices began to recover and the contribution of low-carbon businesses helped offset the impact of the coronavirus pandemic.

Chesapeake Energy Emerges from Chapter 11 Share your comments
Thursday, February 11, 2021Chesapeake Energy Corporation (NASDAQ: CHK) has announced that it has successfully concluded its restructuring process and emerged from Chapter 11.

Total Beats Earnings Estimates Share your comments
Tuesday, February 09, 2021Total SE bucked the trend of a disappointing fourth quarter for Big Oil, reporting earnings that exceeded expectations and pledging more cash for cleaner energy.

Shell Deepens Big Oil Disappointment Share your comments
Thursday, February 04, 2021Royal Dutch Shell Plc deepened the disappointment of Big Oil's fourth quarter, reporting net income that fell short of expectations and weak cash flow.


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Company Operations

Pemex Turns Another Profit Share your comments
Friday, February 26, 2021Petroleos Mexicanos had its first back-to-back quarterly gains in four years.

Ecopetrol Chief Defends $4B Utility Deal Share your comments
Friday, February 26, 2021Investors see the deal as a cash-strapped federal government forcing a state-run company to bail it out.

International Oil Cos Primed for V-Shape Recovery Share your comments
Friday, February 26, 2021International oil companies are primed for a V-shaped recovery in free cash flow and may generate record figures this year if oil prices average $55 a barrel, according to Wood Mackenzie.

Granholm to Champion Biden Climate Agenda Share your comments
Thursday, February 25, 2021DOE oversees the USA's nuclear warhead arsenal, the Strategic Petroleum Reserve, and billions of research dollars.

Exxon Filing Shows 98% Oil Sands Reserves Drop Share your comments
Thursday, February 25, 2021Exxon Mobil Corp. erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves.

ADNOC Shipping Arm Buys 6 Very Large Crude Carriers Share your comments
Thursday, February 25, 2021ADNOC's shipping and maritime logistics arm, ADNOC Logistics & Services, has announced the acquisition of six Very Large Crude Carriers.

Exxon in $1B+ North Sea Deal Share your comments
Thursday, February 25, 2021ExxonMobil (NYSE: XOM) has signed an agreement with HitecVision for the sale of most of XOM's non-operated upstream assets in the UK central and northern North Sea.


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