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Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts

Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts

U.S. crude production held steady last week while demand ticked lower even amid Thanksgiving holiday travel. Oil prices pushed higher Wednesday, though gains developed prior to the government data release. Market speculation that OPEC and its allies could further slash production through this year and into 2023 propelled bulls. Brent crude prices hovered around $85/bbl…

November 30, 2022
Enterprise’s Oil Export Terminal Offshore Texas OK’d to Apply for Permit

Enterprise’s Oil Export Terminal Offshore Texas OK’d to Apply for Permit

Enterprise Products Partners LP’s proposed 2 million b/d oil export terminal, to be sited offshore Texas, is inching forward after federal approval was given to apply for a permit. The Maritime Administration (MARAD) in its 94-page Record of Decision said before a license is issued and construction begins on the Sea Port Oil Terminal, aka…

November 29, 2022
U.S. Crude Production Steady as Demand Drops Ahead of Holiday

U.S. Crude Production Steady as Demand Drops Ahead of Holiday

U.S. exploration and production (E&P) companies kept output for the week ended Nov. 18 at 12.1 million b/d, even with the prior week and generally on par with the level maintained through the fall, according to the Energy Information Administration (EIA).   E&Ps raised production to a pandemic-era high of 12.2 million b/d at points in…

November 28, 2022
Texas Upstream Employment on A Roll, with 2,800 Jobs Added in October

Texas Upstream Employment on A Roll, with 2,800 Jobs Added in October

Upstream oil and natural gas employment in Texas grew in October, with 2,800 jobs added for the month, according to state data. The gains in oil and gas extraction, as well as support jobs, were even more impressive after the Texas Workforce Commission (TWC) revised upward the job gains in September to 2,200 from an…

November 28, 2022
Oil Activity Picks  Up, Natural Gas Slows Down Ahead of Thanksgiving Holiday

Oil Activity Picks Up, Natural Gas Slows Down Ahead of Thanksgiving Holiday

Driven by gains in the oil patch, the U.S. rig count added two rigs overall to reach 784 during the holiday-shortened work week ended Wednesday (Nov. 23), according to updated numbers published by oilfield services provider Baker Hughes Co. (BKR). Four oil-directed rigs were added in the United States for the period, partially offset by…

November 23, 2022
Lesser Prairie-Chicken Listed as Endangered or Threatened in Five States, Posing Oil and Natural Gas Hurdles

Lesser Prairie-Chicken Listed as Endangered or Threatened in Five States, Posing Oil and Natural Gas Hurdles

The lesser prairie-chicken, whose habitat is spread across five U.S. states, has been listed as endangered or threatened under the stringent Endangered Species Act (ESA), which may lead to issues for future oil and natural gas development. The U.S. Fish and Wildlife Service (USFWS) earlier this month listed two distinct population segments (DPS) of the…

November 22, 2022
Domestic Crude Production Flat as Demand Dips, Global Economic Headwinds Gather

Domestic Crude Production Flat as Demand Dips, Global Economic Headwinds Gather

U.S. oil production held steady last week, just shy of the pandemic-era high, even as demand slowed amid warnings of economic headwinds. The Energy Information Administration (EIA) said Wednesday that output for the week ended Nov. 11 was on par with the previous week at 12.1 million b/d. That kept production levels within 100,000 b/d…

November 16, 2022
Oil Exports Fuel Record Quarter for Corpus Port in South Texas

Oil Exports Fuel Record Quarter for Corpus Port in South Texas

U.S. crude oil exports drove another record quarter for the Port of Corpus Christi in South Texas as Western European buyers continue to shift away from Russian crude imports following the Kremlin’s invasion of Ukraine, it said Monday. A record of 48.3 million tons set in the third quarter surpassed the previous tonnage record of…

November 16, 2022
Spurred by Haynesville, Appalachia, Lower 48 Natural Gas Output to Continue Climbing in December

Spurred by Haynesville, Appalachia, Lower 48 Natural Gas Output to Continue Climbing in December

The Haynesville Shale and the Appalachian Basin will lead continued growth in domestic natural gas production from November to December, with output from seven key U.S. regions set to rise more than 500 MMcf/d month/month to nearly 96 Bcf/d, according to updated modeling from the Energy Information Administration (EIA). In its latest Drilling Productivity Report…

November 15, 2022
U.S. OFS Jobs Near Pre-Pandemic Levels in October, with Texas Top Employer

U.S. OFS Jobs Near Pre-Pandemic Levels in October, with Texas Top Employer

Jobs in the U.S. oilfield industry rose slightly in October from a month earlier, with employment at its highest level since September 2021, according to the Energy Workforce & Technology Council. The domestic oilfield services (OFS) and equipment sector rose by an estimated 124 jobs to 640,282 in October, according to preliminary data from the…

November 15, 2022
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