Record US diesel prices squeeze farmers; food prices may rise
Addie Yoder is a farmer in northeast Missouri who grows corn, soybeans, and cattle. She uses two combines, 3 semi-trucks, and several tractors to harvest and transport the crops from mid-September until late October. She said that with diesel prices at all-time highs, and only one 'combine' requiring 300 gallons…
Oil eases and Treasury yields fall as tech leads Wall St. to a higher close
Wall Street rebounded on Thursday, as falling US Treasury yields, easing oil prices and solid labor data helped the markets to move past 'the Federal Reserve’s first interest rate increase in more than?three years. The Nasdaq led a broad rally in the US stock market, which helped all three major US indexes close sharply higher.
White House calls for additional refinery waivers in order to lower pump prices
According to two officials in the administration, the White House asked federal environmental regulators for permission to allow small oil refineries across the country to mix less biofuels than originally planned into their gasoline and Diesel. This is part of an effort to ease the pump price. This outcome would?please?
North Dakota oilfield activities expected to increase in the second half of the year, regulator states
The 'Department of Mineral Resources' in North Dakota said that oilfield activity will increase in the second half of the year, as operators speed up completions and add more rigs to take advantage of high oil prices. The Iran conflict and disruptions in Middle Eastern oil supply have kept prices high, which has encouraged producers to increase activity.
Electricity prices rise in the US Midwest amid heatwave
The wholesale electricity price in the U.S. Midwest spiked to more than $500 a megawatt-hour on Tuesday as wind production?came below 'forecasts' and hot weather taxed fossil fuel plants. Prices spiked most along the Nebraska/Iowa border, near MidAmerican Energy coal plants. MidAmerican Energy is a utility owned and operated by Berkshire Hathaway.
State regulator: North Dakota oil production expected to remain steady, despite the price decline
North Dakota's regulator stated that energy companies will likely keep crude production steady in North Dakota this year, the state with the third largest oil production in the United States, despite the sharp drop in oil prices following the signing of an interim agreement between the United States, Iran, and the end of their war.
U.S. oil companies in North Dakota are cautious about drilling despite rising prices
?U.S. Oil operators in North Dakota are cautious about increasing?drilling? despite the sharp rise in oil price caused by the Iran War. They want to know if the higher prices will last for long enough to justify the new investment. Mark Bohrer is the assistant director for the Oil and Gas Division of the State's Industrial Commission.
North Dakota crude production to increase as operators target high oil prices
A state regulator announced Tuesday that North Dakota's crude production is expected to increase in the coming months due to surging oil prices, which are encouraging operators to increase their activity. Operators in North Dakota, the third largest oil producing state, are responding to higher oil prices by?boosting?
US crude production still down by 500,000 barrels per day (bpd) from winter storm, according to consultancy estimates
According to Energy Aspects consultancy, around half a million barrels of crude oil per day or 0.5% of the global supply was offline in the United States on Thursday as an Arctic blast gripped large areas of the country in the aftermath of a weekend winter storm. This week, production outages in the U.S.
US crude production returns to normal after winter storm's massive impact
U.S. crude oil production recovered on Thursday, after a winter storm ravaged the production. Losses peaked over the weekend at 2'million barrels of crude oil per day. Analysts revised their output forecasts for the month of January as a result. Justin Kringstad of the North Dakota Pipeline…
US crude and natural gas production recovers after winter storms ravage output
U.S. crude and?natural-gas producers brought wells online on Wednesday following a severe storm that swept across the country at the weekend. The storm strained energy infrastructure and power systems. According to Energy Aspects consultancy, domestic crude production is down by around 600,000 barrels a day. This represents 4% of the total output.
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers lost as much as 2 million barrels per day or 15% of their production during the weekend. This was due to a winter storm which ravaged the nation, straining the?energy grids and infrastructure. Energy Aspects estimates that oil production outages peaked at 2 million barrels per day on Saturday.
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers of oil lost up to two million barrels per day, or about 15% of the nation's production, over the weekend as a winter storm swept through the country, straining the energy infrastructure and the power grids. According to a report by?consultancy energy?Aspects, oil production outages peaked Saturday.
Select Eagle Ford assets are being sought by RPT-Exxon XTO.
Exxon Mobil subsidiary XTO Energy, which is part of the oil major Exxon Mobil, is looking for buyers to purchase?some assets? in the Eagle Ford shale in South Texas. In recent days, ?top ?U.S. Two sources said earlier that Exxon, the oil giant, opened a virtual dataroom to start marketing the assets.
Exxon's XTO division seeks buyers for Eagle Ford assets
Exxon Mobil subsidiary XTO Energy, which is part of the oil major Exxon Mobil, has confirmed in a'statement' that it is looking for buyers for its assets located in South Texas’ Eagle Ford shale.basin. Two sources said that Exxon, the top U.S. energy company, opened a "virtual data room" to start marketing its assets in recent days.
Analysts and state regulators say that US crude production will fall due to cold weather.
Energy Aspects reported that state regulators and analysts?said? on Friday that U.S. crude production is expected to'slip' as cold weather forces operators to shut down?production? in key-producing areas. This could lead to a loss of up to 300,000 barrels a day. According to Energy Aspects…
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
Three people with knowledge of the matter have confirmed that Devon Energy and Coterra Energy are looking at a possible merger. This could result in one of the biggest independent shale producers in the United States. The combination would be among the biggest between U.S. producers of energy in recent years. This comes at a time when U.S.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
People familiar with the matter have confirmed that Devon Energy and Coterra Energy were exploring the possibility of merging, which could result in one of the biggest independent shale producers in the United States. The U.S. oil market is still under pressure from the?near term global oil glut, and Venezuela's increased supply in the coming years.
Carnelian, a buyout firm, raises eyebrows by trying to sell multiple assets in the energy sector.
Carnelian Energy Capital is selling six of its North American oil-and-gas production investments. This comes at a time when private equity firms are under increasing pressure to return more cash to investors and increase their exits. The move, which represents most of Carnelian's oil and gas producing companies…
Sierra Club takes on fossil fuels in the US electricity grid
The Sierra Club announced on Tuesday that it is challenging the decision of a U.S. Federal Energy regulator to expedite connecting fossil fuel power stations to major electrical grids, at the expense renewable energy. The environmental group submitted a petition to the D.C. Circuit Court…