Oil

International natural gas and oil market activity is accelerating, and North American service capacity is tightening, with pricing “moving up in both markets,” Halliburton Co. CEO Jeff Miller said Tuesday. Miller helmed a conference call with analysts to discuss third quarter results, noting the Houston-based oilfield services (OFS) giant is using the technology honed in…

Domestic crude production held even last week as demand dipped slightly and inventories edged up, the U.S. Energy Information Administration (EIA) said Wednesday. U.S. exploration and production (E&P) companies kept output for the week ended Oct. 21 at 12.0 million b/d, flat with the prior week and roughly in line with the level maintained through…

International natural gas and oil market activity is accelerating, and North American service capacity is tightening, with pricing “moving up in both markets,” Halliburton Co. CEO Jeff Miller said Tuesday. Miller helmed a conference call with analysts to discuss third quarter results, noting the Houston-based oilfield services (OFS) giant is using the technology honed in…

In case the message was missed in August, when Chancellor Olaf Scholz returned to Germany without the LNG he had sought, Prime Minister Justin Trudeau said again that Canada is no fossil fuel warehouse for deliveries on demand. At the National Arts Centre in Ottawa this week, Trudeau only gave Scholz a promise to work…

American exploration and production (E&P) companies raised oil output modestly last week as overall petroleum demand recovered some ground after multiple declines earlier in the fall, the U.S. Energy Information Administration (EIA) said Wednesday. U.S. oil production last week increased by 100,000 b/d to 12.0 million b/d, EIA said in its latest Weekly Petroleum Status…

Natural gas futures soared over the summer months, driving up costs for utilities that bought gas ahead of the fall months and then passed along the hikes to consumers, federal data show. More energy inflation lurks as winter weather will drive higher gas demand and OPEC-plus production cuts could propel oil prices. The U.S. Department…

With a big acquisition completed, Permian Basin pure-play Ring Energy Inc. expects to see its oil and natural gas volumes nearly double in 4Q2022 from the midpoint of guidance. The independent, headquartered in The Woodlands north of Houston, recently issued guidance to the end of the year. The company during 3Q2022 completed a $465 million…

President Biden warned of “consequences” for Saudi Arabia after OPEC-plus dismissed U.S. objections and said it would slash crude production, a move that could send global oil prices and gasoline costs for Americans surging. The Biden administration said the plan by the cartel, to cut output by up to 2 million b/d next month, would…

A result of both higher retail prices and higher forecast consumption, the Energy Information Administration (EIA) expects U.S. households to spend more on energy this winter compared with the 2021-22 heating season, with the largest increase for homes that heat with natural gas. The agency’s latest Winter Fuels Outlook, included in its updated Short-Term Energy…