Oil & Gas News

Governor Issues Disaster Declaration for Southeast Texas

Industry Headlines

Top Headlines: Valaris Employee Reported Missing from Rig
Saturday, January 28, 2023Check out some of Rigzone's top stories during the last week.

Big Oil Saw Record $199Bn Profits In 2022 But 2023 Will Be Different
Saturday, January 28, 2023ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but the outlook for 2023 does not look so bright.

Oil Posts First Weekly Loss of the Year
Friday, January 27, 2023Bulls approached and quickly withdrew from oil's 100-day moving average, driving crude to its first weekly loss since the start of the year.

Governor Issues Disaster Declaration for Southeast Texas
Friday, January 27, 2023The declaration will further support Texas' recovery efforts in response to extensive damage sustained due to tornadic activity in Pasadena, Deer Park, and neighboring Southeast Texas communities.

Oil Traders Weigh Up Market This Week
Friday, January 27, 2023One of Rigzone's regular market watchers takes a look at demand trends, oil price moves, and a surprising Henry Hub development.

Gasoline Price More Expensive Than Year Ago Levels
Friday, January 27, 2023The price of regular gasoline in the U.S. is more expensive than year ago levels.

World Still Waiting to See What China Reopening Means
Friday, January 27, 2023Macquarie Group, Goldman Sachs and FGE focus on China's reopening.

EU Considers Capping Russian Fuel Prices at $100
Friday, January 27, 2023The European Union is floating a plan to cap the price of Russian diesel at $100 a barrel.

Offshore Rigs Set For Very Busy Year In 2023
Thursday, January 26, 2023Rig activity stood out in several regions in 2022 and there is no reason to expect anything different in 2023, Westwood Energy believes.



Trinity To Spud Jacobin Well In Second Quarter Of 2023
Friday, January 27, 2023Trinity Exploration & Production has made the decision to drill the Jacobin well in the second quarter of 2023.

Neptune Spuds One More Adorf Gas Production Well
Wednesday, January 25, 2023Neptune Energy has begun drilling at its operated Adorf Z18 gas production well in the municipality of Georgsdorf in northwestern Germany.

Norway To Offer More Acreage In Next Licensing Round
Wednesday, January 25, 2023The Norwegian Ministry of Petroleum and Energy has sent a proposal for the announcement of the APA 2023 licensing round.

Zephyr Hits More Hydrocarbons In Paradox Basin
Friday, January 20, 2023Zephyr Energy has come across a significant influx of hydrocarbons at the State 36-2 LNW-CC well at the company's flagship project in the Paradox Basin, Utah, U.S.

Three60 Contracted To Help Isle Of Man Reach Energy Independence
Thursday, January 19, 2023Three60 Energy has secured a significant drilling contract with Crogga Limited to help the Isle of Man achieve energy independence.

Land Rig Activity In Key Regions Set To Rise In 2023
Monday, January 16, 2023Westwood Global believes that there is a generally positive outlook for the land rig market at the start of 2023, albeit with some caveats.

Eni, Chevron Make Significant Gas Discovery Off Egypt
Monday, January 16, 2023Eni has made a significant new gas discovery at the Nargis-1 exploration well located in the Eastern Mediterranean Sea, offshore Egypt.



OPEC+ Delegates Expect Committee to Recommend Steady Output
Wednesday, January 25, 2023Saudi Arabia and its partners will hold a review of output levels on February 1.

COPL Starts Oil Production At Cole Creek Unit In Wyoming
Tuesday, January 24, 2023COPL has started oil production from the Frontier 1 sands at its 100 percent-owned and operated Cole Creek Unit in Wyoming.

Wressle Surpassing Expectations
Wednesday, January 18, 2023Wressle oil field has continued to perform beyond expectations, generating high production and revenues.

Petrobras' FPSO Guanabara Producing At Maximum Capacity
Tuesday, January 17, 2023Petrobras has informed that the FPSO Guanabara installed in the Mero field in the Santos Basin pre-salt reached its maximum production capacity.

Norway Set To Earn Over $200Bn From Oil And Gas In 2023
Tuesday, January 17, 2023Norway's oil and gas operations in the North Sea will continue to churn out cash as it maintains high production to help support Europe's energy crisis.

Santa Cruz Sur Production Hits Peak In Q4 2022
Monday, January 16, 2023Production levels at the Santa Cruz Sur field in Argentina hits highest levels in 2022 during the fourth quarter.


Finance and Investing

Chevron Falls After Posting Disappointing Quarterly Result
Friday, January 27, 2023Chevron Corp. posted disappointing fourth-quarter results.

Chevron to Buy Back $75B in Stock After Record Profit
Thursday, January 26, 2023Chevron Corp. plans to buy back $75 billion of shares and increase dividend payouts.

Fossil Fuel Profits Roar Back
Thursday, January 26, 2023Oil and gas companies' contribution to the S&P 500 Index's earnings has nearly doubled from a year ago.

Halliburton, Schlumberger Increase Dividend
Wednesday, January 25, 2023Both Halliburton and Schlumberger announced notable dividend increases.

Higher Volumes Bump Baker Hughes' Revenues In Q4
Wednesday, January 25, 2023Baker Hughes saw its quarterly revenues edge up 8 percent year-on-year on the back of record orders in the fourth quarter.

China Oil Giants See Profits Surge
Sunday, January 22, 2023China's oil giants said preliminary net income for last year surged.

ADNOC Adds HSBC, ADCB, EFG on Mega IPO Of Gas Unit
Sunday, January 22, 2023ADNOC has added banks including HSBC and EFG to help arrange the planned initial public offering of its natural gas business, sources said.


Company Operations

Petrobras Completes $1.6B Sale Of Albacora Leste Field To Petro Rio
Friday, January 27, 2023Petrobras has finalized the sale of its total interest in the Albacora Leste production field, located in the Campos Basin, to Petro Rio.

RWE-National Grid JV Submits Bid For New York State Wind Rights
Friday, January 27, 2023Community Offshore Wind has proposed to provide New York State with energy from 1.3 GW of offshore wind capacity to power nearly 500,000 homes.

Eni And Sonatrach Pen Emissions Reduction Agreements
Friday, January 27, 2023Eni and Sonatrach have signed strategic agreements to accelerate emissions reduction and strengthen energy security.

BSEE Checks Out Coastal Virginia Offshore Wind Project Progress
Friday, January 27, 2023Bureau of Safety and Environmental Enforcement Director Kevin Sligh met with coastal Virginia offshore wind project representatives.

Maersk Supply Service Bags Buzios 6 Project Job Off Brazil
Friday, January 27, 2023TehnipFMC turned to Maersk Supply Service for the towing and mooring job for Petrobras's Buzios 6 project.

Former Brazilian Senator Takes Over Petrobras Helm
Friday, January 27, 2023The Board of Directors of Petrobras has unanimously appointed former Senator Jean Paul Terra Prates as the new chief executive officer.

Exxon Building Largest Renewable Diesel Plant In Canada
Friday, January 27, 2023ExxonMobil will invest about $560 million to move forward with the construction of the largest renewable diesel facility in Canada.

Matador Resources Company Announces $1.6B+ Deal
Thursday, January 26, 2023The deal is expected to close early in the second quarter of 2023.

TSC Subsea Targets Expansion Into New Markets
Thursday, January 26, 2023Remotely deployed subsea NDT inspection specialist TSC Subsea has set its sights on new markets in 2023.