Oil

3Bear Energy LLC, a privately held midstream company based in Denver, said it has entered into definitive agreements with an unidentified anchor shipper to develop, own and operate a gathering and processing system serving the northern part of the Permian Basin in New Mexico’s Delaware sub-basin.

Several of the world’s largest oil and natural gas companies with operations in Houston have joined leading U.S. businesses and state organizations to publicly oppose so-called bathroom bills under consideration by the Texas legislature.

Petro River Oil Corp. said Tuesday it struck oil at its Sunset Boulevard prospect in California’s San Joaquin Basin.

The American Petroleum Institute (API) reported this week that the estimated total number of oil and natural gas wells drilled and completed during the second quarter increased 62% from the year-ago quarter.

Crude oil exports have inched upward this year, reaching the highest monthly level on record of 1.1 million b/d in February, the Energy Information Administration (EIA) said Tuesday.

North Dakota’s chief energy regulator on Tuesday called the latest oil and natural gas production numbers “happy, happy, happy,” despite continuing low commodity prices.

U.S. onshore unconventional growth began to exhibit “material and persistent” monthly output growth in the first quarter after bottoming out in mid-2016, a trend likely to continue through 2017, according to an analysis by Rystad Energy.

Linn Energy Inc. has agreed to sell a portion of its assets in California’s San Joaquin Basin to an undisclosed buyer for $263 million as it continues to reduce its debt.

Rebalancing the global oil glut is going to take more than a temporary pullback by the world’s largest producers because U.S. unconventional production is overwhelming any shortfall and coming back faster than anticipated, the International Energy Agency said.