Production ///

Alberta’s oil supply cuts find a sweet spot

Alberta may have finally found the right level for its oil curtailment program that has sent local oil prices on a roller coaster for the last few months.

Oil drillers scale back U.S. activity as crude falls into bear market

U.S. crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory.

Texas producers experiment, pumping gas down wells amid glut

Texas drillers may have found a solution to the stubborn natural gas glut that’s forced them to either burn it off into the air, or pay others to take it away.

Companies in the news

Emily Querubin, World Oil

Sparrows Group has won contract renewals worth an estimated £30 million on the UKCS.

First oil

Kurt Abraham, World Oil

U.S. EIA sees continued woes for Venezuelan oil output

Regional report: Russia

Mike Slaton, Contributing Editor

Between rocks and hard places

Global gas market grew rapidly in 2018

Armelle Lecarpentier, CEDIGAZ

It was a remarkable year for the global natural gas market during 2018. Natural gas supply and demand grew at their fastest pace since 2010

Technology center to be established for developing Achimovsky-strata oil deposits in Russia

Gazprom Neft and the Government of the Yamalo-Nenets Autonomous Okrug are to expand their cooperation in developing viable technologies for exploiting Achimovsky-strata oil deposits.

IEA: Asia demand set to power global gas growth over the next five years

After another record year, global demand for natural gas is set to keep growing over the next five years, driven by strong consumption in fast-growing Asian economies and supported by the continued development of the international gas trade.

Markets lose hope for Pemex rescue

Fitch Ratings downgraded Petroleos Mexicanos for a second time in five months, plunging the world’s most indebted oil company into junk status.

Saudis optimistic about OPEC+ cut extension after talks with Russia

Saudi Arabia’s top oil official said he was sure that OPEC+ will extend production cuts into the second half of the year after holding talks with Russia.

New wells boost Wyoming oil production to highest level in 25 years

The Wyoming State Geological Survey (WSGS) completed its 2019 update to the Interactive Oil and Gas Map of Wyoming.

Hurricane Energy reports first oil at Lancaster EPS, offshore UK

Hurricane Energy, a UK company focused on developing hydrocarbons in naturally fractured basement reservoirs, provided an update on its Lancaster field development.

Lukoil enters hydrocarbon production project in the Congo

PJSC Lukoil concludes an agreement with New Age M12 Holdings Limited to acquire a 25% interest in the Marine XII license in the Republic of Congo for $800 million in cash.

E&P companies need to prove they can be competitive, analysts say

The Russell 3000 reconstitution later this month will be key for energy companies vying for investor attention, given an already low weighting in the index, according to Barclays Capital Inc.

Putin highlights differences with Saudis as OPEC+ decision looms

One year ago, Saudi Arabia and Russia reached an agreement that set a new direction for the oil market.

China's pipeline reform to supercharge gas demand

China’s pipeline reform is poised to spur competition in its natural gas industry, lowering prices and supercharging demand.

Shell promises significant increase in returns to investors

Shell plans to shower its investors in money, pledging returns of $125 billion between 2021 and 2025 -- twice as much as a decade earlier.

Oil in Alberta jumps most this year as fires shut output

Canadian heavy oil in Alberta surged the most since December after wildfires forced a second producer in the region to shut in some operations.

Murphy Oil Corporation closes GOM acquisition for $1.227 billion

Murphy Oil Corporation has announced that its wholly owned subsidiary, Murphy Exploration & Production Company - USA, has closed the previously announced strategic deepwater Gulf of Mexico acquisition from LLOG Exploration Offshore, L.L.C. and LLOG Bluewater Holdings, L.L.C.