Production

Data shows crude oil stock drawdown tempered by builds in refined products

News

Refineries have potentially already begun shifting more production towards distillate as gasoline demand has not kept pace with production US crude oil stocks declined last week, in line with market expectations, but inventories of distillates and gasoline saw surprise builds, EIA data showed Wednesday according to S&P Global Platts. US commercial crude stocks fell 3.228 million barrels […]

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Thanks to shale, Marcellus and Utica see manufacturing resurgence

Uncategorized

Thanks to shale development, good things are in the works for Appalachia that equate to more jobs, greater economic stimulation, and new manufacturing opportunities Basin that encompasses Pennsylvania, Ohio and West Virginia has a long history of being a manufacturing hub. This region in the Ohio Valley and throughout Southwestern Pennsylvania recently went from being

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US becomes net exporter of natural gas by 2018, first time since 1950s.

News

By 2040, net exports of natural gas reach 7.5 Tcf, which is 18% of total U.S. production The growth in total U.S. dry natural gas production projected in the Annual Energy Outlook 2016 (AEO2016) Reference case results mostly from increased development of shale gas and tight oil plays, according to the US Energy Information Administration.

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Devon Energy to sell $1 billion of upstream assets in East Texas, Midland Basin

Energy Financial

At Dec. 31, 2015, proved reserves for the assets amounted to 31 million Boe OKLAHOMA CITY – Devon Energy Corp. says it has entered into agreements with undisclosed parties to sell nearly $1 billion of non-core upstream assets in east Texas, the Anadarko Basin and an overriding royalty interest in the northern Midland Basin. The largest transaction is

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WPX Energy oil production up in Delaware Basin – adds rig, completing 15-20 DUC wells

Energy Financial

WPX building crude oil gathering system in Stateline area of Delaware Basin TULSA, Okla. – WPX Energy says it is increasing its full-year oil production guidance to an average of 39 to 41 million b/d, up 5 per cent from previous guidance of 37 to 39 million b/d. Guidance for total equivalent production is up 3 per

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Conventional oil, gas discoveries outside North America continue to decline

News

2015 marked lowest year for discovered oil and gas volumes since 1952, IHS Says HOUSTON, Texas– Volumes for conventional oil and gas discoveries outside of North America have continued their multi-year decline, and the results are dramatic – just 12 billion barrels of oil equivalent (BOE, includes natural gas) estimated recoverable resources were discovered in

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