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More shale, who cares? Saudi Arabia pushes for at least $70 oil

2 days ago DieselGasoil Comments Off on More shale, who cares? Saudi Arabia pushes for at least $70 oil
DUBAI/LONDON (Reuters) – Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh’s share of global crude markets might be further eroded. FILE PHOTO: U.S. President Donald Trump welcomes Saudi Arabia’s Crown Prince Read More

Penn Virginia and Denbury Mutually Agree to Terminate Merger Agreement

2 days ago DieselGasoil Comments Off on Penn Virginia and Denbury Mutually Agree to Terminate Merger Agreement
HOUSTON, March 21, 2019 (GLOBE NEWSWIRE) — Penn Virginia Corporation (“Penn Virginia” or the “Company”) (NASDAQ: PVAC) today announced it has mutually agreed with Denbury Resources Inc. (NYSE: DNR) (“Denbury”) to terminate their previously announced merger agreement. “After careful consideration, the Penn Virginia board of directors decided that it is in the best interests of Read More

Harvest Oil & Gas Schedules Fourth Quarter and Full Year 2018 Earnings Release on Friday, March 29, 2019

2 days ago DieselGasoil Comments Off on Harvest Oil & Gas Schedules Fourth Quarter and Full Year 2018 Earnings Release on Friday, March 29, 2019
HOUSTON, March 21, 2019 (GLOBE NEWSWIRE) — Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest”) today announced plans to release 2018 fourth quarter and full year results on Friday, March 29, 2019 prior to market open. In addition, Harvest will announce its 2018 year-end proved reserves and 2019 guidance. In conjunction with the release, Harvest Read More

US 'oil weapon' could change geopolitics forever

3 days ago DieselGasoil Comments Off on US 'oil weapon' could change geopolitics forever
The United States became the world’s top oil producer in February, and now it may use its leverage to reinforce its position as a geopolitical force. In a dynamic that shows just how far US oil production has come in recent years, the US Energy Information Administration (EIA) said on Monday that in the last two months Read More

Block Energy's West Rustavi field in Georgia discovers oil and gas

3 days ago DieselGasoil Comments Off on Block Energy's West Rustavi field in Georgia discovers oil and gas
3/20/2019 LONDON — Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to report that Total Drilled Depth (‘TDD’) has been reached at well 16a (’16a’ or ‘the well’) at its West Rustavi field after the successful completion of horizontal sidetracking operations. A TDD of 8,724 ft (2,659 Read More

As U.S. oil supply grows, so does its influence on global prices

4 days ago DieselGasoil Comments Off on As U.S. oil supply grows, so does its influence on global prices
By Alex Longley and Sheela Tobben on 3/20/2019 LONDON and NEW YORK (Bloomberg) — For a glimpse into what the global oil price might look like one day, a good place to look is the Dutch port of Rotterdam. There, at a key hub for Europe’s oil trading and Refining, crude imported from the U.S. Read More

'Perfect storm' of tight supply & global demand drives oil prices higher

4 days ago DieselGasoil Comments Off on 'Perfect storm' of tight supply & global demand drives oil prices higher
Oil prices have risen far higher and faster than most analysts expected, with major banks now changing their forecasts as a perfect storm of factors forms around oil markets. “The latest Brent rally has brought prices to our peak forecast of $67.5/bbl, three months early,” Goldman Sachs wrote in a note. The investment bank said Read More

Oil majors rush to dominate U.S. shale as independents scale back

4 days ago DieselGasoil Comments Off on Oil majors rush to dominate U.S. shale as independents scale back
EDDY COUNTY, NEW MEXICO (Reuters) – In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles. Natural gas flares off at a production facility owned by Exxon near Carlsbad, New Mexico, U.S. February 11, 2019. Read More

Rotork electric actuators used in U.S. shale oilfield pipeline’s solar solution

4 days ago DieselGasoil Comments Off on Rotork electric actuators used in U.S. shale oilfield pipeline’s solar solution
3/19/2019 Photo: Rotork IQ3 intelligent multi-turn electric actuators. BATH, UK — Rotork IQ3 intelligent multi-turn electric actuators have been specified for use in solar powered control stations for water gathering pipelines in the U.S. Located in the oilfields of West Texas and New Mexico, the intelligent systems allow for the remote operation of single-stage isolation Read More