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Shale drilling decreases amid U.S. oil industry consolidation, shareholder returns

(Bloomberg) – Drilling in the U.S. shale patch dropped to the lowest level in almost two-and-a-half years as operators vow to make good on promises to investors for subdued production growth this year. […]

Shelf Drilling secures $66 million drilling contract offshore West Africa

(WO) – Shelf Drilling, Ltd. has secured a 15-month award for the Shelf Drilling Tenacious jack-up rig for drilling operations offshore West Africa. Source: Shelf Drilling The award will begin in direct continuation […]

Savannah Energy post $260.9m revenue gain in 2023

– Targets 1GW+ of renewable energy projects by year end Kunle Kalejaye Leeds, England — Savannah Energy audit report shows its total revenues as at December 31 2023 stood at US$260.9 million, 11% ahead of […]

Norway gas flow to Britain resumes after repair

*Gas pipeline linking Norway and the UK. Oslo — The flow of Norwegian gas to northern England via the Langeled pipeline resumed on Friday as repairs were completed following a June 2 outage that triggered […]

Zephyr Energy completes drilling operations in Paradox basin onshore Utah

(WO) – Zephyr Energy plc provided an update on drilling operations on the State 36-2R LNW-CC well at the company’s flagship project in the Paradox basin onshore Utah. Drilling operations have been completed […]

U.S. oil and gas wages set April record despite shale industry consolidation

(Bloomberg) – Wages for U.S. oil and gas workers set a fresh record in April as a wave of acquisitions in the shale industry has yet to impact the labor force. Average hourly […]

Biden administration to purchase 6 MMbbl of oil for Strategic Petroleum Reserve as prices drop

(Bloomberg) – The Biden administration is buying six million more barrels for the nation’s oil reserve as it continues to take advantage of a dip in prices to refill the depleted cache. The […]

COP29 host Azerbaijan sees natural gas demand rising despite “phase-out” plans

(Bloomberg) – Months after UN-led climate talks, the demand for natural gas from the host of this year’s COP29 is growing in Europe and elsewhere. Shah Deniz platform (Source: bp) Azerbaijan, which has […]

‘Ugandan anti-oil pipeline activist detained’

*East African Crude Oil Pipeline Kampala — A Ugandan activist campaigning to stop the development of a $5 billion crude oil pipeline in east Africa by France’s TotalEnergies and others has been detained by Uganda’s […]

OPEC+ ministers reject bearish reaction to “gradual” oil production increase plans

*OPEC+ barrel stock Newswire – OPEC+ ministers rejected oil’s bearish reaction to its decision to gradually boost crude production from October and predicted the market will eventually see that the group’s policy is correct. The […]