Top Headlines: 88 Energy Makes Billion Barrel Oil Announcement and More

Top Headlines: 88 Energy Makes Billion Barrel Oil Announcement and More
Check out some of Rigzone's top stories during the last week.

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

88 Energy Makes 1 Billion Barrel Oil Announcement

88 Energy Limited has reported a maiden, independently certified prospective resource estimate of 1.03 billion barrels of oil - on a gross mean, unrisked basis - for the Project Icewine East development.

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Oil Supermajors Continue to Hold Back on Investment

Oil supermajors continue to hold back on investment as mid-year guidance remains mostly firm, a new report from Fitch Solutions Country Risk & Industry Research noted.

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USA Senate Passes Inflation Reduction Act

The U.S. Senate passed the Inflation Reduction Act, which has been dubbed the most consequential energy legislation in decades.

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W. Virginia Bans Five Banks From State Deals Over O&G, Coal Stance

West Virginia State Treasurer Riley Moore named five banks ineligible for state banking contracts due to their stance on fossil fuels funding.

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USA Drops Rigs

The U.S. rig count dropped by three week on week, according to Baker Hughes’ rotary rig count published on August 5.

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Brent-WTI Oil Price Spread at Highest Point Since 2014

The price spread between Brent and West Texas Intermediate oil increased to a high of $13.26 per barrel on July 29, the highest price spread since January 14, 2014, the U.S. Energy Information Administration highlighted in its latest short term energy outlook.

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To contact the author, email andreas.exarheas@rigzone.com



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