US energy report forecasts drop in Haynesville and Appalachia shale output but US oil production to hit records
The US government’s short-term energy report for June forecasts declines in natural gas production in the Haynesville and Appalachia shale basins before a rebound in 2025 backed by higher benchmark Henry Hub gas prices, while also forecasting annual record production in 2024 and 2025 for US crude oil.
ExxonMobil and Chevron profits hit by lower natural gas prices as takeover deals progress amid Guyana dispute
ExxonMobil Corp. and Chevron Corp. reported first-quarter declines in profits and revenues on lower natural gas prices while both are advancing with their major takeover transactions amid a pre-emption dispute over key assets in the new South American oil and gas hub of Guyana.
US will use new ‘cone of uncertainty’ for better forecasting and hurricane warnings for Gulf Coast and elsewhere
The official start of the Atlantic Hurricane season is still three months away but forecasters say it’s never too early to start preparing for what may or may not come in 2024, especially along the Gulf Coast of Texas and Louisiana.
US majors ExxonMobil and Chevron return second-best performances in 10 years boosted by Permian and LNG
US majors ExxonMobil Corp. and Chevron Corp. recorded their second-largest annual profits in 10 years as oil and natural gas production increased and Chevron shipped record LNG cargoes from Australia even amid work stoppages.
US energy outlook forecasts lower Henry Hub price to the end of March on higher production and storage levels
The United States energy outlook for December has forecast lower benchmark Henry Hub natural gas spot prices for the rest of the winter heating season to March 2024 because of higher production and storage levels.
Vital Energy agrees three transactions worth $1.17 billion to boost acreage and reserves in Permian Basin
Vital Energy Inc., the Tulsa, Oklahoma-based exploration and production company, has signed three transactions worth around $1.17 billion to add nearly 53,000 net acres to its assets in the Midland and Delaware areas of the Permian Basin with significant proved oil and natural gas reserves.
US natural gas production remains at high levels led by Permian Basin associated gas despite lower prices
US dry natural gas production has remained at relatively high levels throughout 2023 despite a decline in US natural gas prices with growth driven by the Permian Basin where most of the natural gas is produced from associated gas produced from oil wells.
US M&A activity continues for Permian Basin assets as Civitas Resources makes entry with deals worth $4.7Bln
Civitas Resources Inc., the US oil and natural gas company headquartered in Denver, has made a “transformative” entry into the Permian Basin by acquiring assets of two companies for $4.7 billion with a mixture of debt, stock and cash in the latest round of merger and acquisition activity in the sector.
ONEOK in $18.8Bln deal with Magellan to combine oil and gas hub assets in US Gulf Coast and Mid-Continent
US energy infrastructure company ONEOK Inc. has signed a definitive merger agreement with Magellan Midstream Partners in a cash-and-stock transaction valued at around $18.8 billion to combine the two Oklahoma-based energy groups.
US hurricane forecasters expect less active season but with risk of disrupting LNG exports and Gulf Coast energy
A leading US meteorologist group has forecast a slightly less active US Gulf Coast and Atlantic hurricane season in 2023 but with the continued risk of temporary shut-downs of oil and gas production and LNG export facilities and project sites.
