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U.S. oil production falls to lowest since October 2018: EIA   Jun 03, 2020
U.S. oil production fell last week to 11.2 million barrels per day, the lowest since October 2018, the Energy Information Administration said on Wednesday. Reuters  

Offshore Drillers Buckle Up As Tropical Storm Cristobal Approaches   Jun 03, 2020
Meanwhile, oil companies active in the Gulf of Mexico are monitoring storm developments and taking early precautionary measures, Reuters reported. Shell, Chevron, Exxon, BP, Hess Corp, and Murphy Oil, the report said, were not, however, evacuating platform staff yet. According to the National Hurricane Center, Cristobal will weaken to a ... Crude Oil Prices  

Gas leak forces closure around Guy St. and Rene-Levesque Blvd. in downtown Montreal   Jun 03, 2020
A natural gas leak forced the closure of the intersection at Guy St. and Rene-Levesque Blvd. on Wednesday morning. CTV News  

Devon Energy Announces Third-Quarter 2020 Cash Dividend For Common Stockholders   Jun 03, 2020
Devon Energy Corp. (NYSE: DVN) announced today that its board of directors has declared a quarterly cash dividend on Devon’s common stock for. YAHOO!  

Oil Drops With Swelling Fuel Stockpiles Signaling Weak Demand   Jun 03, 2020
Oil turned lower after U.S. government data showed fuel demand isn’t recovering as quickly as first believed.American gasoline supplies rose to the highest level in more than a month and distillate inventories jumped by the most since January 2019, YAHOO!  

OPEC+ keen to keep U.S. shale in check as oil prices rally   Jun 03, 2020
When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in U.S. output. Now that crude has rallied on the back of those cuts from below $20 a barrel to $40 or more, YAHOO!  

Upstream survivors in the Permian Basin will look like this   Jun 03, 2020
The energy sector's place in the S&P 500 hit a multi-decade low while restrained equity valuations and elevated short interest suggest caution across E&Ps. Bloomberg  

Oil Falls Back On Large Fuel Build   Jun 03, 2020
A day after the American Petroleum Institute surprised market yet again with a crude oil inventory draw, pushing prices up, the Energy Information Administration also reported an inventory decline, at 2.1 million barrels for the week to May 29. At 532.3 million barrels, the authority said, crude oil inventories were 12 percent above the five ... OilPrice  

4 Key Factors That Could Kill the Upside Momentum for Oil   Jun 03, 2020
However, crude’s rise from the bottom could encourage the shale patch to ramp up or resume drilling activities. In fact, the sharp gains in the price have already prompted EOG Resources EOG and Parsley Energy PE – carrying a Zacks Rank #3 (Hold) - to plan for potential revival of production. This will offset the output curbs elsewhere and ... YAHOO!  

How is Improving Crude Price Triggering Rapid Shale Recovery?   Jun 03, 2020
As crude oil prices are recovering from historic lows to more than $35 per barrel, the early signs of shale recovery are in sight. This highlights shale’s preparedness to quickly adjust to crude pricing. YAHOO!  

NGL Update: How Are Macro Headwinds Impacting Midstream   Jun 03, 2020
While NGL production was relatively resilient through April, production is expected to decrease slightly on average in both 2020 and 2021 relative to 2019. Mids Seeking Alpha  

WPX Energy Announces Public Offering of Senior Notes   Jun 03, 2020
WPX Energy (NYSE:WPX) announced today that it has commenced an underwritten public offering of $500 million of senior unsecured notes due 2028. YAHOO!  

Line 3 needed despite oil market drop, Enbridge tells Minnesota regulator   Jun 03, 2020
The severely weakened oil market is a "short-term" disruption that does not change the need for Enbridge's (ENB +1%) Line 3 pipeline across northern Minnesota, the company tells the state's Pu Seeking Alpha  

Saudi, Russia reach deal on oil cuts, raising pressure on laggards   Jun 03, 2020
OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters. Reuters  

OPEC+ Meeting in Doubt Over Oil-Quota Cheating Dispute   Jun 03, 2020
The June meeting of OPEC+ nations is in doubt as Saudi Arabia and Russia press other nations to make firm commitments to implementing supply curbs. Bloomberg’s Julian Lee reports on "." (Source: Bloom Bloomberg  

Oil Erases Gains With OPEC+ Meeting in Doubt Over Quota-Cheating   Jun 03, 2020
Oil erased gains as the OPEC+ meeting was put in doubt over cheating by some nations on their output-cuts deal.The producer group won’t hold an early meeting on June 4, and a scheduled gathering next week was also threatened, YAHOO!  

Five Things You Need to Know to Start Your Day   Jun 03, 2020
The parties seeking to reach an agreement will also be aware that the rising prices mean U.S. shale production will start to come back on stream, meaning a balance will have to be found that maintains market share. Bloomberg  

PNGRB says lacks powers to regulate setting up of LNG pumps   Jun 03, 2020
Oil regulator PNGRB has said it has no powers to regulate setting up of LNG dispensing stations and any entity can set up such fuel outlets anywhere in the country. YAHOO!  

CNX Announces Intention to Redeem $400 Million of Its Outstanding 5.875% Senior Notes Due 2022 and Provides Financial Update   Jun 03, 2020
CNX Resources Corporation (NYSE: CNX) ("CNX" or the "company") today announced that it intends to redeem $400 million (the "Called Notes") of its $823.795 million aggregate principal amount of outstanding 5. YAHOO!  

Kenya’s Oil Project With Tullow Ends With No Investment Plan   Jun 03, 2020
Tullow Oil Plc’s export and testing of Kenya’s crude under a pilot plan ended June 2, as timelines for development in the East African nation slowed. Bloomberg  

German foreign minister: Trump is “pouring oil on the fire” with threat to deploy US military   Jun 03, 2020
Germany’s foreign minister Heiko Maas criticised Donald Trump’s threat to deploy the military to quash ongoing protests over the killing of unarmed black man George Floyd by the police, accusing the US president of “pouring oil on the fire. YAHOO!  

Mukesh Ambani Won the World’s Most Expensive Sibling Rivalry   Jun 03, 2020
Being the brother of Asia’s richest man is harder than you think. Even by the sky-high standards of Indian nuptials, the wedding of Akash Ambani and Shloka Mehta in March of last year was ambitious. The festivities began in the Swiss Alps, Bloomberg  

Patterson-UTI Reports Drilling Activity for May 2020   Jun 03, 2020
PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of May 2020, the Company had an average of 80 drilling rigs operating. For the two months ended May 31, 2020, the Company had an average of 92 drilling rigs operating. YAHOO!  

U.S. shale producers begin restoring output as oil prices turn higher   Jun 03, 2020
U.S. shale oil producers are beginning to reverse production cuts as prices recover from historic lows, underscoring shale's ability to quickly adjust to pricing and posing a challenge to OPEC as it considers extending production curbs. YAHOO!  

OPEC+ Meeting in Doubt Due to Dispute Over Oil-Quota Cheating   Jun 03, 2020
A meeting between OPEC and its allies this month was in doubt as Saudi Arabia and Russia drew a hard line over quota cheating by some nations.The two leaders of OPEC+ told other members that talks pla YAHOO!  

China Is Getting Its Hooks Deeper Into Middle East Oil Supplies   Jun 03, 2020
(Bloomberg) -- China is an ever-more important customer for Middle Eastern oil producers as they scramble to find buyers in the wake of the coronavirus.The region’s petro-states shipped about one in every three of their crude exports last month to the Asian country. YAHOO!  

COVID-19 Fuels Fire Sale Of Oil & Gas Assets   Jun 03, 2020
Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas OilPrice  

Why the market might have got the Oil India share price wrong   Jun 03, 2020
Good shares at cheap prices are what the very best investors look for. At this time of economic turmoil and market volatility, could Oil India (NSI:OIL) be YAHOO!  

Kimbell Royalty Partners: A Landlord With A Near 10% Secure Yield   Jun 03, 2020
Kimbell Royalty Partners is the landlord of one of the largest oil basins on Earth, along with numerous other oil basins. The company is in a tough spot - like Seeking Alpha  

Canadian Natural Resources (CNQ) Investor Presentation - Slideshow   Jun 03, 2020
The following slide deck was published by Canadian Natural Resources Limited in conjunction with this event. Download PDF. 1 36 Seeking Alpha  

What U.S. shale's woes mean for Canada's oil and gas industry   Jun 03, 2020
The struggles of U.S. shale oil could have implications for the Canadian oil and gas sector, whether it’s on prices or discussions around energy security.  

China drives global oil demand recovery out of coronavirus collapse   Jun 03, 2020
China's oil demand has recovered to more than 90% of the levels seen before the coronavirus pandemic struck early this year, a surprisingly robust rebound that could be mirrored elsewhere in the third quarter as more countries emerge from lockdowns. YAHOO!  

The Weakest 6-Month Momentum Picks From The S&P 100   Jun 03, 2020
I am posting some basic momentum research results for S&P 100 index components over the last six months. This article focuses on and pictures the 10 weakest equ Seeking Alpha  

LanzaJet launches to make renewable jet fuel a reality   Jun 03, 2020
Over a fifteen year stretch, LanzaTech has developed technologies that can turn carbon emissions into ethanol that can be used for chemicals and fuel. Today, the company announced the spinout of LanzaJet alongside its corporate partners Mitsui, YAHOO!  

Natural Gas May Be the Next Commodity to Trade Below Zero   Jun 03, 2020
The specter of negative prices is hanging over energy markets more than a month after oil’s unforgettable crash below zero.While crude has staged a rapid recovery after a deal by the biggest producers to curb a surplus, YAHOO!  

BlackRock focuses on China credit, oil and travel in Asia   Jun 03, 2020
The world's biggest asset manager, BlackRock Inc , called out oil stocks, domestic tourism and debt in China and India as investment opportunities in its Asia outlook on Wednesday. Reuters  

Brent oil rises to $40 amid hopes for output cuts, recovery   Jun 03, 2020
Oil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend production cuts and a recovery from the coronavirus pandemic will spur fuel demand. YAHOO!  

Venezuela's oil exports sink to 17-year low, choked by U.S. sanctions   Jun 03, 2020
Washington has imposed sanctions on Venezuela to starve President Nicolas Maduro of oil revenues - the OPEC nation's main source of foreign income - and break his grip on power. The measures have reduced exports and deepened the country's economic crisis but Maduro has held on, YAHOO!  

U.S. Oil Output Continues Its Steady Decline   Jun 03, 2020
New Mexico was one of only three states to increase its production in March. Production was up by 9 kb/d to 1,105 kb/d. California's slow output decline has res Seeking Alpha  

Occidental Slashes Dividend Again   Jun 03, 2020
Quarterly payout reduced to $0.01 per share. Move will save $360 million per year. WTI rebound a welcome sight. Seeking Alpha  

Gen III Oil Corp. Grants Stock Options   Jun 03, 2020
Gen III Oil Corp. (“Gen III” or the “Company”) (GIII.V) (ISRJF) announces that it has granted 600,000 stock options to the Company’s Executive Vice President, Mark Redcliffe, entitling him to purchase one common share for each option held at a price of $0. YAHOO!  

Natural Gas Price Prediction – Prices Rebound but Remain Despressed   Jun 03, 2020
Natural gas prices edged higher consolidating its recent decline after hitting a contract low on Monday. Demand was flat in the latest week and despite a decline in the number of active rigs, prices continued to decline. YAHOO!  

Priviti Oil & Gas Opportunities Limited Partnership 2013 granted exemptive relief by the Alberta Securities Commission   Jun 03, 2020
Priviti Capital Corporation, the Investment Fund Manager for Priviti Oil & Gas Opportunities Limited Partnership 2013 (“POGO 2013” or “the Fund”), was granted exemptive relief by the Alberta Securities Commission (the “ASC”) pursuant to a decision issued on April 24, YAHOO!  

U.S. oil companies monitor Gulf of Mexico storm   Jun 03, 2020
U.S. oil companies are monitoring the first tropical storm of the 2020 Atlantic hurricane season to threaten the offshore oil patch in the U.S.-regulated northern Gulf of Mexico. Reuters  

Climate resolutions fail at Chevron, Exxon   Jun 03, 2020
Forty-six percent of investors backed the Chevron proposal, compared with 25 percent of Exxon Mobil shareholders. The votes came just weeks after nearly 55 percent of shareholders for Phillips 66, which operates a joint venture chemical company with Chevron, approved the same resolution. Some investors have increasingly pushed climate-related ... YAHOO!  

Natural Gas May Be the Next Major Commodity to Trade Below Zero   Jun 03, 2020
The specter of negative prices is hanging over energy markets more than a month after oil’s unforgettable crash below zero. Bloomberg  

U.S. Oil Drillers Restart Production As Prices Recover   Jun 03, 2020
Nick Cunningham is an independent journalist, covering oil and gas, energy and environmental policy, and international politics. He is based in Portland, Oregon. Shale drillers are bringing some shuttered oil production back online as the glut eases. The total amount of shut-in production in the Bakken stood at 475,000 bpd on May 28 ... OilPrice  

Australia pins hopes on elusive gas panacea for climate, economy woes   Jun 02, 2020
Australia is working on plans for a gas-driven recovery from COVID-19 that will help the country adapt to a low-carbon future, with the conservative government tiptoeing away from its vocal support for coal. YAHOO!  

Trump administration putting trust in global oil producers ahead of OPEC+ meet   Jun 02, 2020
The Trump administration believes ahead of an expected OPEC+ meeting this week that major oil producers such as Saudi Arabia and Russia will honor their pledges to cut crude production and will not damage the global economy by changing course, YAHOO!  

Pablo Soria de Lachica Comments on the Possibility of a New Financial Crisis due to Oil Collapse   Jun 02, 2020
MEXICO CITY, MEXICO / ACCESSWIRE / June 2, 2020 / The oil industry is in the grips of what is regarded as its greatest distress ever, going through a crisis that has shaken even a market accustomed to the rapid succession of peaks and troughs. YAHOO!  

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