Many of the liquefied natural gas (LNG) export facilities already under construction or in planning will not be needed in the future if the world is to reach net zero greenhouse gas emissions by 2050, the International Energy Agency said in a bombshell report this week. The world’s oil and gas needs in a net…
Tag / Oil prices
SubscribeOil prices
Articles from Oil prices
Crescent Point Sees Duvernay Driving Steady Improvement in 2021
Crescent Point Energy Corp. regained profitability and emerged as an unconventional natural gas producer during the first three months of this year. The Calgary producer predicted steady improvement for the rest of 2021 would result from the C$900 million ( $720 million) purchase in February of 500 square miles of liquids-rich Duvernay formation acreage from…
No More Oil, Natural Gas Fields Needed on Road to Net Zero, IEA says
No more investments in new oil and gas fields should be sanctioned if the world is to have a shot at achieving net zero greenhouse gas (GHG) emissions by 2050, the International Energy Agency (IEA) said Tuesday. The world’s oil and gas needs in a net zero world can be met by projects greenlit as…
SilverBow Expanding Eagle Ford Oil Prospects as Prices Climb, Costs Decline
Eagle Ford Shale pure-play SilverBow Resources Inc., long weighted to natural gas, is looking to step up its oil inventory and develop more wells in the Austin Chalk formation to expand the South Texas inventory. Executives highlighted recent well results and the outlook for 2021 during the recent first quarter earnings call. During the first…
Pioneer Claims No. 1 Permian Producer Spot with DoublePoint, Parsley Acquisitions
With two big transactions completed in a matter of months, Pioneer Natural Resources Co. has become the largest producer in the Permian Basin and should produce up to 700,000 boe/d-plus in 2022, CEO Scott Sheffield said Wednesday. The Dallas-based independent this week completed a $6.4 billion purchase of privately held West Texas competitor DoublePoint Energy…
CNX Still Sees Utica Shale in Longer-Term Growth Plan
CNX Resources Corp. got a lift from stronger first quarter commodity prices as it continued executing on a broader seven-year plan it laid out in 2020. The company said free cash flow (FCF), up for the fifth consecutive quarter, came in at $101 million. It has also increased its full-year FCF guidance to $450 million…
Liberty Sees Slowly Improving Fracture Market, E&Ps More ‘Comfortable’ with OFS Price Hikes
Denver-based Liberty Oilfield Services Inc. is reporting a “slowly improving market” in the Lower 48 for pressure pumping services, with customer conversations becoming more constructive, CEO Chris Wright said Wednesday. Speaking during the 1Q2021 conference call, Wright noted that the oilfield services (OFS) operator has doubled the size of its platform since the start of…
Total Reports Big Gains on 1Q Oil, Natural Gas Prices
A considerable jump in global oil and natural gas prices during the first quarter supported a big gain in profits for French supermajor Total SE. Commodity prices were strong during the period as the world continued recovering from Covid-19, while colder weather in the northern hemisphere helped drive natural gas demand. Total said average oil…
Hess Considering Adding Third Bakken Rig on Strong Oil Prices
Hess Corp. is considering adding a third rig in the second half of 2021 in the Bakken Shale of North Dakota if oil prices remain strong, executives said during an earnings call. Adding a fourth rig in the future “would get output to 200,000 b/d and make the Bakken a $1 billion/year free cash flow…
Diamondback Raises 2021 Output Guidance Following Permian Deals
Lower 48 player Diamondback Energy Inc. has raised its production guidance for 2021, reflecting the acquisition of two Permian Basin operators earlier this year. The company said Monday it was targeting 2021 oil production of 218,000-222,000 b/d, or 360,000-270,000 boe/d, following the completion of its purchases of Guidon Operating LLC in February and QEP Resources…