Production ///

Permian basin seen growing to largest oil patch in the world

The Permian shale play is all about setting records. Now, the region will probably become the world’s largest oil patch over the next decade.

EIA: Pennsylvania’s natural gas production continues to increase

Pennsylvania’s marketed natural gas production averaged a record 15 Bcfd in 2017, 3% higher than the 2016 level. This production is largely from shale plays in the Appalachian basin. Pennsylvania accounted for 19% of total U.S. marketed natural gas production in 2017 and produced more natural gas than any other state except Texas.

Petrobras announces start of production at Búzios field, in the Santos basin

Petrobras has started production of Búzios field, in the pre-salt of the Santos basin, by means of platform P-74.

Here come the petrodollars, back to save global asset prices

The recent surge in oil prices is poised to boost global assets as crude-producing states deploy replenished stashes of petrodollars, according to a growing chorus of analysts.

BNK Petroleum reports its best 30-day IP rate of 630 boed in Oklahoma's SCOOP

BNK Petroleum Inc. has announced that the Glenn 16-2H well (100% working interest) averaged over 630 boed, of which 540 bbl are oil, for the last 30 days. The production from the well, which is located in BNK’s Tishomingo field, in the SCOOP region of Oklahoma, is currently producing over 620 boed, of which 515 bbl are oil (85%).

Trump trade war spurs India to import more oil, drones from U.S.

India is seeking more oil, drones and aircraft from the U.S. to help narrow its $28-billion trade surplus amid rising concerns of possible collateral damage to its economy from President Donald Trump’s trade spat with China.

Goldman Sachs echoes Saudi view that oil rally won't hurt demand

Goldman Sachs Group Inc. sees oil’s rally the same way as Saudi Arabia: it won’t check the world’s soaring thirst for crude.

Santos announces Barossa FEED decision that could double production in Northern Australia

Santos has announced that agreement has been reached with our joint venture partners to enter the front-end engineering and design (FEED) phase for the development of the Barossa project to backfill Darwin LNG (DLNG).

Echo Energy reports oil to surface at second workover in Argentina

Echo Energy plc, the Latin American focused upstream oil and gas company, has announced the successful and safe completion of the second workover of the three-well workover campaign at the Company's Fracción D asset, onshore Argentina.

Libya pipeline attack cuts oil output amid fragile recovery

An attack on an oil pipeline supplying Libya’s biggest export terminal has reduced the North African country’s production by at least 80,000 bpd and would take several days to repair, the National Oil Corp. said Sunday.

Trump's oil woes are investors' gain as fuel demand boosts price

President Donald Trump started a tug of war with the oil market and lost the first round.

SDX Energy announces gas discovery at LNB-1 well, Morocco

SDX Energy announced that a conventional natural gas discovery has been made at its LNB-1 exploration well in Morocco.

Canadian rail union discussions near deadline as strike looms

Canadian Pacific Railway is trying to hammer out a deal with two unions to avoid a labor strike that threatens to disrupt Canada’s second largest railroad for the second time in three years.

BP and Reliance sanction second phase of deepwater gas development, India

BP and Reliance Industries announced the sanctioning of the “Satellite cluster” project in Block KG D6, offshore India.

U.S. oil rush spurs triangle trade as output, exports soar

Rapid increases in U.S. oil output are forcing some traders and producers to try alternative ways of pricing crude.

Wood, Roue and Cisco open oil and gas center in Mexico

Wood, Cisco and Roue Consultores have opened a new Oil and Gas Advanced Technology Centre (ATC) in Naucalpan, Estado de Mexico.

Trump slams OPEC as cartel pushes harder for high oil prices

U.S. President Donald Trump slammed OPEC for inflating oil prices after the cartel showed a willingness to further tighten crude markets.

A first for Panama Canal: Three LNG tankers crossed in a day

Three LNG tankers sailed through the Panama Canal on the same day, marking a first for the newly expanded waterway and highlighting the booming global gas trade.

Oil market faces tense wait as Iran sanctions too close to call

Global markets for equities, currencies and metals have all been whipsawed by the uncertainty over what President Donald Trump’s next geopolitical move would be. Oil’s about to have a turn.

U.S. LNG gets a big cheer in one of Russia's small neighbors

One of Russia’s European neighbors is fully embracing U.S. liquefied natural gas.