Oil & Gas News

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IEA Cuts Oil Demand Growth Forecast Again

Industry Headlines

US Drops Six Oil, Gas Rigs
Monday, June 17, 2019 The U.S. dropped one oil rig and five gas rigs for a net loss of six rigs for the week.

API Urges Trump to Renegotiate with China
Monday, June 17, 2019 The American Petroleum Institute has signed a letter urging Trump to get back to the negotiating table with China.

Oil Short-Selling Surges
Monday, June 17, 2019 Oil skeptics are gaining ground fast as the outlook for global demand worsens.

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Brent Holds Gains as Saudis Seek Cut Deal
Monday, June 17, 2019 Brent crude held gains as Saudi Arabia expressed hope that OPEC and its allies will agree to extend production cuts into the second half.

Oil Prices Down for the Week
Friday, June 14, 2019 The WTI is down 2.7 percent and Brent is down two percent.

Investors Focus on Trade War
Friday, June 14, 2019 For now, the war that really worries oil investors is the deepening trade conflict between the U.S. and China.


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Exploration

New Oil and Gas Discovery in Norwegian Sea
Monday, June 17, 2019 Equinor, along with its partners, makes an oil and gas discovery in the Norwegian Sea.

Austin Chalk Seismic Survey Planned
Thursday, June 06, 2019 A large-scale, multi-client Austin Chalk seismic survey is set to begin this September.

W&T, Kosmos Strike Oil in US Gulf of Mexico
Tuesday, June 04, 2019 W&T Offshore (operator) and project partner Kosmos Energy have made an oil discovery at the Gladden Deep exploration well in the U.S. Gulf of Mexico.

Eni Wins Blocks Offshore West Africa
Tuesday, June 04, 2019 Eni has been awarded two new exploration blocks offshore Ivory Coast.

UK Offers Acreage in 31st Round
Tuesday, June 04, 2019 The UK Oil and Gas Authority offers 37 license areas over 141 blocks, or part-blocks, to 30 companies as part of the 31st Offshore Licensing Round.

E&P Companies' Costs Hit 10-Year Low in 2018
Monday, June 03, 2019 The world's total exploration and development (E&D) costs in 2018 was the lowest since 2009, according to the U.S. Energy Information Administration (EIA).


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Production

Gas Enjoys Bonanza Year in 2018
Wednesday, June 12, 2019 Natural gas had a bonanza year in 2018, according to BP's latest statistical review of world energy.

US 2018 Oil, Gas Output Surges Outpaced All Countries
Tuesday, June 11, 2019 U.S. natural gas and crude oil production increased last year at the fastest pace ever for a single country.

North Sea Culzean Field Starts Production
Tuesday, June 11, 2019 Total has started up production from the offshore UK Culzean gas condensate field.

Goldman Sees Hard Path to OPEC+ Extension
Tuesday, June 11, 2019 Uncertainty over oil supply and demand fundamentals is making it tougher for Russia and Saudi Arabia to reconcile their differences.

Alberta's Oil Cuts Find Sweet Spot
Monday, June 10, 2019 Alberta may have finally found the right level for its oil curtailment program.

US Oil Output to Set More Records in 2019
Thursday, June 06, 2019 Rystad Energy forecasts new all-time highs for U.S. crude output in May 2019 and the end of the year.


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Finance and Investing

Aramco to Peel Back Financial Veil
Thursday, June 13, 2019 Aramco is preparing to host its first earnings call in August to discuss half-yearly results.

Will Occidental's $38B Gamble Be a Shale Win?
Friday, June 07, 2019 Oxy is aiming for billions of dollars' worth of cost savings and productivity gains from the Anadarko deal, but many investors remain skeptical.

Fitch Cuts Pemex to Junk
Friday, June 07, 2019 Fitch Ratings downgraded Petroleos Mexicanos for a second time in five months.

Energy Stocks Hurt By Oil Slump Want Value Investors
Thursday, June 06, 2019 The Russell 3000 reconstitution later this month will be key for energy companies vying for investor attention, given an already low weighting in the index.

Seadrill Plunges Again
Monday, May 27, 2019 Seadrill fell further in Oslo trading after Carnegie Investment Bank AB cut its target price by 88 percent.

Schlumberger Suffers Credit Hit
Monday, May 27, 2019 Schlumberger had its debt rating lowered by S&P Global Inc.


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Company Operations

C&J Energy and Keane to Merge in $1.8B Deal
Monday, June 17, 2019 Two Houston-based oilfield services companies have agreed to merge in order to form a leading company with an expansive footprint in active U.S. basins.

Is Permian's Parsley Energy a Top Target for Buyers?
Friday, June 14, 2019 But major producers are wary of scooping up smaller rivals as would-be sellers are demanding too much money.

Schulich Buys 5 Percent of MEG Energy
Friday, June 14, 2019 Canadian investor Seymour Schulich says he bought about 5 percent of MEG Energy Corp.

Aker Solutions Appoints New CFO
Friday, June 14, 2019 Aker Solutions has appointed Ole Martin Grimsrud as its new chief financial officer.

Phillips 66 JVs to Tackle Projects Worth $4B+
Tuesday, June 11, 2019 Phillips 66 has formed two 50/50 joint ventures which will tackle projects worth over $4 billion.

Schlumberger Alum to Lead KCA Deutag
Monday, June 10, 2019 Joseph Elkhoury will succeed Norrie McKay at KCA Deutag.

Comstock to Acquire Covey Park in $2.2B Deal
Monday, June 10, 2019 Comstock Resources is acquiring Covey Park Energy in a push to become a leader in the Haynesville Basin.


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