Shell In Advanced Discussions to Buy LLOG Exploration for Over $3B
Shell is in advanced discussions to buy LLOG Exploration offshore in a deal valued at more than $3 billion. This would increase the oil major's portfolio of upstream oil and gas producers by acquiring one of the biggest privately owned oil and natural gas producers in the U.S. Gulf. Sources said that the parties were in advanced talks, and that an agreement was close. One source added that the deal could be signed by the end the year.Sources?advised that there is no guarantee that a deal would be reached between Shell and Covington, Louisiana based producer and spoke under?conditions of anonymity for private deliberations.Shell declined to make a comment.
Baker Hughes reports that US drillers have added rigs to their fleet for the fourth time in just five weeks.
Baker Hughes, a leading energy services company, said that U.S. companies added drilling rigs this week for the fourth time within five weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by five in the week ending December 5. This is its highest level since late November. Baker Hughes reported that oil rigs increased by six this week to 413, the highest level since late November. Gas rigs, on the other hand, fell by one, to 129, which is their lowest level since late November. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
In Brazil, oil majors have united to oppose the Subsea7/Saipem merger
Public documents show that oil majors in Brazil are united against a merger proposed between energy contractors Subsea7 & Saipem. Cade, the antitrust agency, has requested new data from both firms on Friday for its investigation. In a filing in November to Cade, the Brazil oil industry group IBP stated that a new company, called Saipem7 would be strong enough to impose extra costs, delay projects, and force some clients into exclusive, long-term contracts. Cade, weeks after IBP's comment, which represents the oil majors of Brazil, sent Cade a request for additional data on Friday. Cade said it was lacking the information needed to analyze the proposed merger.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since September. In the week ending November 21, the oil and gas rig counts, a good indicator of future production, increased by five, to 554 - its highest level since June. Baker Hughes reported that oil rigs increased by two this week to 419, the highest level since October. Gas rigs also rose by two, to 127. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
US Natural Gas Futures Ease 1% on Ample Gas in Storage
U.S. natural gas futures eased about 1% on Thursday on near-record output and ample amounts of gas in storage despite near-historic flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected.The price decline also came despite a federal storage report that showed energy firms pulled gas out of storage for the first time this winter during last week's cold weather.Front-month gas futures for December delivery on the New York Mercantile Exchange fell 3.7 cents, or 0.8%, to $4.513 per million British thermal units (mmBtu) at 10:33 a.m. EST (1533 GMT).The U.S.
Baker Hughes reports that US oil and gas drillers have added rigs to their fleet for the third time in just four weeks.
Baker Hughes, a leading energy services company, said that U.S. energy companies added oil and gas rigs this week for the third consecutive time in just four weeks. The number of oil and gas rigs, a good indicator of future production, increased by two in the week ending November 7 to 548. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs remained at 414 in this week's report, while gas-rigs increased by three to 128 - their highest level since August 2023. The number of miscellaneous drilling rigs decreased by one, to six.
Fugro's profits beat estimates, but the company is still cautious about Q4
Dutch geological data specialist Fugro reported stronger-than-expected core earnings on Friday, but cautioned that worsening conditions in the offshore wind sector and tighter spending by energy firms could weigh on its performance in the final quarter. The third-quarter adjusted earnings (EBITDA), which includes interest, taxes, amortization, and depreciation, fell by 22% on an annual basis to 108.6 millions euros ($126.7) but was still higher than the consensus estimate of 89 million dollars. Mark Heine, chief executive of the energy company…
Energy Traders Steer Shipping Toward Greener Horizons
The maritime industry is charting a new course toward decarbonization, yet this time round it is not only traditional shipowners at the helm. Major energy and commodity traders, whose shipping operations often carry large carbon footprints, are now investing in cleaner and more efficient shipping. With the International Maritime Organization (IMO) calling for a 40% reduction in shipping’s carbon intensity by 2030 from 2008 levels, these players are now deploying new methods to cut emissions at sea. Retrofitting old vessels or even order state-of-the-art tankers with clean fuel capacity…
Oil Prices Slip, Pressured Over Global Supply Glut
Oil prices fell by nearly 2% on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.Brent crude futures were down $1.06, or 1.7%, at $60.23 a barrel as of 1312 GMT, while U.S. West Texas Intermediate futures fell $1.03, or 1.8%, to $56.51.Oil traders' concerns have shifted from under-supply to over-supply, the futures contract structure of the global benchmark Brent showed.The six-month spread for Brent shows contracts for earlier loading are trading below those for later loading…
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in six weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation this week, the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10 to 547. Baker Hughes reported that the total number of rigs is down 39, or 7% from this time last. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August.
Baker Hughes reports that US oil and gas drillers have cut back on rigs in the US for the first time in six-weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have reduced the number of oil rigs in operation for the first time in six weeks. The number of oil and gas rigs, a good indicator of future production, dropped by two in the week ending October 10. Baker Hughes reported that oil rigs dropped by four this week to 418, while gas-rigs increased by two to 120 – their highest level since August. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S. gas…
Baker Hughes reports that US oil and gas drillers have reported the same number of rigs for the week, 549.
Baker Hughes, a leading energy services company in the United States, said that this week U.S. firms kept the number oil and gas rigs almost unchanged. In the week ending October 3, the rig count, including a miscellaneous group, which is an early indicator of future production, remained at 549. Baker Hughes reported that the total number of rigs was 36, or 6.2% lower than this time last. Baker Hughes reported that oil rigs dropped by two this week to 422 while gas rigs increased by one to be at 118. Oil and gas rig counts declined by approximately 5% in 2020 and 20% in 2030 as lower U.S.
Baker Hughes reports that the US oil and gas rig counts have reached their highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the fourth consecutive week for the first since February. The number of oil and gas drilling rigs, a good indicator of future production, increased by seven in the week ending September 26 to 549, its highest level since June. Baker Hughes reported that despite this week's increase in rigs the total count is still 38 rigs or 6% lower than this time last year. Baker Hughes reported that oil rigs increased by six this week to 424, the highest level since July. Gas rigs, on the other hand, fell by one, to 117, which is their lowest level since July.
Baker Hughes reports that the US oil and gas rig count has reached its highest level since June.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for a fourth consecutive week for the first since February. In the week ending September 26, the oil and gas rig counts, a leading indicator of future production, increased by seven, to 549, its highest level since June. Baker Hughes reported that oil rigs increased by six this week to 424, the highest level since July. Gas rigs, on the other hand, fell by one, to 117, which is their lowest level since July. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since February. In the week ending September 19, the oil and gas rig counts, a good indicator of future production, increased by three, to 542. This is its highest level since July. Baker Hughes reported that despite this week's increase in rigs the total number was still 46 rigs or 8% lower than this time last year. Baker Hughes reported that oil rigs increased by two this week to 418, the highest level since July. Gas rigs remained at 118.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the third consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and gas rigs this week for the third consecutive week for the first since February. Oil and gas rig counts, an early indicator for future production, increased by three in the week ending September 19. This is their highest level since July. Baker Hughes reported that despite the increase in rigs this week, the total number of rigs was still 46, or 8%, below what it was at this time last. Baker Hughes reported that oil rigs increased by two this week to 418, the highest level since July. Gas rigs remained at 118.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added natural gas and oil rigs this week for the second consecutive week for the first since April. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending September 12. Baker Hughes reported that oil rigs increased by two this week to 416, the highest level since July. Gas rigs remained at 118. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S. gas and oil prices in the…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 7 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since seven weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending September 5. Baker Hughes reported that despite this week's increase in rig count, the total number was still 45 rigs or 7.7% below what it was at this time last year. Baker Hughes reported that oil rigs increased by two this week to 414, while gas-rigs decreased by one to just 118. Oil and gas rig counts declined by around 5% in 2020 and 20% in 2023, as lower U.S.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on oil and gas rigs for the second consecutive week. The number of oil and gas drilling rigs, a good indicator of future production, dropped by two in the week ending August 29 to 536, the lowest level since August 2021. Baker Hughes reported that the total number of rigs is down 47 or 8.1% from the same time last year. Baker Hughes reported that oil rigs increased by one this week to 412, while gas-rigs decreased by three to 119. Oil and gas rig counts are expected to decline by 5% and 20% respectively in 2024, as the lower U.S.
Baker Hughes: US drillers have cut oil and gas rigs four times in the last five weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of rigs for the fourth consecutive week. The number of oil and gas drilling rigs, a leading indicator of future production, dropped by one in the week ending August 22 to 538, the lowest level since mid-July. Baker Hughes reported that the number of rigs has dropped by 47 this week. Below this time last Year. Baker Hughes reported that oil rigs dropped by one this week to 411, while gas-rigs remained at 122. The number of rigs in the largest oil and gas producing state of the country,, fell by two, to 240.