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TORC Oil & Gas Ltd. Announces Completion of Annual Credit Facility Redetermination   Jul 01, 2020
CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TOG.TO) is pleased to announce the Company's credit facility has been confirmed at $425 million , with the borrowing base determination dates unde YAHOO!  

W&T Offshore Announces Updated Investor Presentation Has Been Posted to Its Web Site   Jul 01, 2020
W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. The Company currently YAHOO!  

ConocoPhillips Provides Update on Production Curtailment Activities   Jul 01, 2020
ConocoPhillips (NYSE: COP) today announced its estimated production curtailment impacts for the second quarter of 2020 and provided comments on future curtailments. YAHOO!  

Crude Oil Price Forecast – Crude Oil Markets Continue Consolidation   Jul 01, 2020
Crude oil markets have been grinding back and forth over the last couple of days, and as a result it has been ideal for scalping the market. YAHOO!  

Displaced Oil Employees Find New Life in the HVAC Industry   Jul 01, 2020
As job markets across the United States continue to struggle in the wake of the COVID-19 outbreak, the impact of the virus on oil production is threatening severe consequences for the global economy. YAHOO!  

Shell takes $22bn hit over low oil prices   Jul 01, 2020
Shell, one of the world's largest oil companies, has warned that the low price of oil could reduce the value of its assets by up to $22bn (£17.9bn). It said it expects oil to change hands at $60 per barrel in the long term and to be priced at $35 this year and $40 next year. YAHOO!  

Oil Search slashes a third of jobs, pledges more senior roles for PNG nationals, women   Jul 01, 2020
Papua New Guinea-focused oil and gas firm Oil Search said on Wednesday it has axed a third of its workforce amid slumping demand, in a shake-up that also aims to reserve more senior positions for Papua New Guinea (PNG) citizens and women. Reuters  

Sanchez Energy Successfully Completes Financial Restructuring; Emerges as Mesquite Energy, Inc.   Jul 01, 2020
Sanchez Energy Corporation today announced that it has completed its financial restructuring and emerged from Chapter 11 as a privately held corporation under the name Mesquite Energy, Inc. (“Mesquite Energy” or the “Company”). Associated Press  

S.Korea's June crude oil imports drop 14.5% y/y - preliminary data   Jul 01, 2020
South Korea's June crude oil imports fell 14.5% to 73.3 million barrels from a year earlier, preliminary data from the Ministry of Trade, Industry and Energy showed on Wednesday. Final data will be released later this month by state-run Korea National Oil Corp (KNOC). Reuters  

Range Resources: An Interesting And Potentially Profitable Play For The Current Environment   Jul 01, 2020
Range Resources is one of the most significant natural gas producers in the United States. The company owns considerable acreage in the very natural gas-rich ba Seeking Alpha  

ExxonMobil, Employees and Retirees Contribute More Than $1.4 Million to Illinois Colleges and Universities   Jul 01, 2020
Thirty accredited Illinois colleges and universities will receive more than $1.4 million as part of the ExxonMobil Foundation’s Educational Matching Gift Program. ExxonMobil employees and retirees contributed nearly $400, YAHOO!  

Enetics and NYSEARCH Announce Availability of Remote Natural Gas Distribution Monitoring Sensor   Jul 01, 2020
Enetics, Inc., in cooperation with NYSEARCH, has completed development and beta testing of GasComm®, an intrinsically safe sensor that provides gas utilities with a cost-effective method of providing autonomous operational monitoring of their steel pipe distribution gas network. YAHOO!  

US Oil & Gas Rig Tally Hits Record Lows for 8 Straight Weeks   Jul 01, 2020
If the crude price recovery sustains, since more people are getting back to work on easing lockdown measures, many explorers will consider adding rigs in oil plays. YAHOO!  

Alberta CEOs release plan to ensure Albertans are the most adaptable, innovative & progressive workforce in Canada   Jul 01, 2020
The current crises have magnified already-present challenges for Alberta’s economy and people, such as sluggish growth, high unemployment, declining investment and a faded reputation as a dynamic place of innovation. YAHOO!  

TOTAL (TOT) Boosts Output in Brazil With Second FPSO on Lara   Jul 01, 2020
TOTAL's (TOT) oil output from Brazil is set to increase from the current level with the start-up of the second FPSO on Lara. YAHOO!  

Saudi Arabia Eyes Total Dominance In Oil And Gas   Jul 01, 2020
Saudi Arabia’s Energy Minister Prince Abdulaziz claimed last week that the Kingdom will be the world’s biggest hydrocarbon producer “even” in 2050 OilPrice  

Ecuador's Petroecuador awards Phillips 66 tender to buy Oriente crude   Jul 01, 2020
Ecuador's state-run oil company Petroecuador said on Tuesday it had awarded U.S. refiner Phillips 66 the right to buy 3.6 million barrels of Oriente crude in a spot-market tender launched earlier this week. Reuters  

Analysis of COVID-19 Impact: Sliding Sleeves Market 2020-2024 | Introduction of New Oil and Gas Exploration Policies to Augment Growth | Technavio   Jul 01, 2020
Baker Hughes, a GE company, D&L Oil Tools, Halliburton Co., National Oilwell Varco Inc., NCS Multistage Holdings Inc., Nine Energy Service, Inc., Sapex Group Ltd., Schlumberger Ltd., Schoeller ... YAHOO!  

Gas South Partners with MooveGuru to Offer Natural Gas to New Homebuyers   Jul 01, 2020
Gas South, a leading natural gas provider in the Southeast, announced this month a new partnership with MooveGuru, an automated mover engagement provider. Through this partnership, the two entities wi YAHOO!  

Natural Gas Price Prediction – Prices Rise but Fail to Clear Resistance   Jun 30, 2020
Natural gas prices rallied for a second consecutive trading session rising nearly 2% after surging 11% on Monday. This came as no external weather factors were driving the price. The weather is ... YAHOO!  

Australia's Oil Search slashes 34% workforce   Jun 30, 2020
Australia's Oil Search on Wednesday said it has reduced its total workforce by around 34% under its cost restructuring review to cushion the blow from subdued oil prices as a result of the coronavirus pandemic. Reuters  

Forum Energy Technologies, Inc. Announces Executive Management Changes   Jun 30, 2020
Forum Energy Technologies, Inc. (NYSE: FET) (the "Company") announced today that, as part of its continuing cost reduction plan, the corporate executive team will be reduced and reorganized. Changes to the executive team will be effective July 10, YAHOO!  

ConocoPhillips To Restart Part Of Curtailed Oil Production   Jun 30, 2020
ConocoPhillips expects to start bringing back in July part of the oil production it had curtailed in the second quarter in response to the low oil prices Crude Oil Prices  

Gear Energy Ltd. Announces Operational Update, Guidance for 2020 and Extension of Borrowing Base Redetermination   Jun 30, 2020
Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ... YAHOO!  

'The days of $100 oil are over': Bubba Trading founder   Jun 30, 2020
The days of $100 oil are over,” says Bubba Trading founder and CEO Todd Horwitz. “There's going to be a lot less usage and a lot less demand because we can’t get the economy open in full. So how are we going to start to continue to use oil? YAHOO!  

Occidental gives Wyoming until July 8 to bid on assets   Jun 30, 2020
Occidental Petroleum (NYSE:OXY) has extended the deadline for bids on the land and minerals it is selling in Wyoming and Colorado by a week until July 8, the Wyoming governor's office says.Wyoming's S Seeking Alpha  

Lee’s trust made favorable stock trades amid virus briefings   Jun 30, 2020
A trust belonging to U.S. Rep. Susie Lee of Nevada and her husband made advantageous stock trades in January selling natural gas shares and purchasing grocery shares as members Associated Press  

Oil company extends bid deadline for Connecticut-size lands   Jun 30, 2020
Occidental Petroleum has extended by one week a Wednesday deadline for Wyoming to bid on a swath of land and mineral rights bigger than Connecticut, a spokesman for Gov. Associated Press  

UPDATE 1-Occidental Petroleum extends bid deadline for Wyoming, Colorado land   Jun 30, 2020
Troubled Occidental Petroleum Corp has given the state of Wyoming until July 8 to bid on the land and minerals it is selling in Wyoming and Colorado, the Wyoming governor’s office said. The company has been struggling with debt taken on in last year’s $38 billion acquisition of Anadarko Petroleum, Reuters  

Big Oil’s Nightmare Is Coming True   Jun 30, 2020
Royal Dutch Shell has followed BP in massively cutting the value of its oil and gas assets, a signal that we are likely to see plenty more of the world's oil reserves ending up as stranded assets OilPrice  

Asia Gas-to-Plastic Ventures Bleed as U.S. Shale Output Sputters   Jun 30, 2020
Across Asia’s fastest-growing economies, companies that pumped billions of dollars into facilities to handle and convert a natural gas by-product into plastics have been licking their wounds after a surge in the cost of feedstock from U. Bloomberg  

UPDATE 8-Oil slips slightly on rising coronavirus cases, returning Libyan supplies   Jun 30, 2020
Oil prices slipped on Tuesday as investors worried that rising COVID-19 cases would hurt demand while supply could rise with a potential resurgence of Libyan oil production, which has slowed to a trickle since the start of the year. Reuters  

UPDATE 1-U.S. natgas hits 3-week high, wraps up best quarter since mid-2018   Jun 30, 2020
U.S. natural gas futures rose to their highest in nearly three weeks on Tuesday, ending the best quarter since June 2018, as forecasts for hotter-than-normal weather increased demand for cooling. August futures rose 4. Reuters  

Palm Oil Set For Better Fortunes After Pandemic Wrecked Bull Run   Jun 30, 2020
Palm oil is heading for a recovery in the second half on improving global demand and dwindling output, months after the coronavirus shattered the tropical oil’s stunning bull run. Bloomberg  

Oil Prices Nearly Double in Q2 Amid Questionable Demand   Jun 30, 2020
Oil prices fell on Tuesday but that didn’t stop the market from ending June at almost double from where it finished three months ago, a trend that left analysts scratching their heads as demand recovery for fuel from the coronavirus pandemic has been anemic at best. YAHOO!  

Oil Jumps After API Reports Largest Crude Draw This Year   Jun 30, 2020
Analysts had predicted an inventory draw of 710,000 barrels. In the previous week, the API reported an increase in crude oil inventories of 1.749 million barrels, after analysts had predicted a smaller build. OilPrice  

A Texas-based oil and gas company files for bankruptcy   Jun 30, 2020
Texas oil and gas company Sable Permian Resources has recently filed for bankruptcy. Sable Permian Resources filed for Chapter 11 bankruptcy protection last week Associated Press  

Crude Posts Best Quarter Since 1990 After Historic Price Crash   Jun 30, 2020
Oil posted its best quarter in nearly 30 years, bouncing back from this year’s historic price crash.The market’s climb from negative territory in April has been swift but bumpy, with the U.S. benchmar YAHOO!  

Libya's Messla oil field resumes, two field sources say   Jun 30, 2020
Libya's Messla oil field has resumed production with output of 10,000 barrels a day to be used for local consumption rather than export, two sources at the field said on Tuesday. Reuters  

Analysts See Limited Upside To Oil Prices This Year   Jun 30, 2020
Oil prices are unlikely to jump too much this year despite the OPEC+ production cuts as the economic and oil demand recovery are set to pick up steam only in the fourth quarter, OilPrice  

Africa’s Biggest Private Investment Nears $15 Billion Finance   Jun 30, 2020
The Mozambique liquefied natural gas project led by Total SA has begun a process to finalize $15 billion of financing, according to people familiar with the information. Bloomberg  

Enbridge denied in bid to fast-track Line 5 project   Jun 30, 2020
The Michigan Public Service Commission denies a request by Enbridge (ENB -0.1%) for a declaratory ruling and instant approval of its planned $500M Line 5 tunnel project under the Straits of Mackinac t Seeking Alpha  

Oil Markets On Edge As Second Wave Hits   Jun 30, 2020
While hopes of a global economic recovery have kept oil markets afloat, the fear of a second wave of COVID cases is threatening to send oil prices lower OilPrice  

Aramco CEO Says The Worst Is Over For Oil   Jun 30, 2020
The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the second half of this year OilPrice  

Tesla Overtakes Exxon’s Market Value in Symbolic Energy Shift   Jun 30, 2020
Tesla Inc.’s market value has surpassed Exxon Mobil Corp.’s in a sign that investors are increasingly betting on a global energy transition away from fossil fuels. Bloomberg  

UPDATE 1-U.S. crude oil output falls 669,000 bpd to 12.1 million bpd in April   Jun 30, 2020
NEW YORK, June 30 (Reuters) - U.S. crude oil production dropped 669,000 barrels per day to 12.06 million bpd in April, the government said in a monthly report on Tuesday. The decline came as production fell 234, Reuters  

Crude Oil Prices Fall on Fears of Fresh Lockdowns   Jun 30, 2020
Oil prices fell on Tuesday as the spread of tighter public health measures across the U.S. intensified the fear of fresh lockdown measures, while a chilling blast from major Royal Dutch Shell (LON:RDSa) reminded the market of the challenges still ahead. YAHOO!  

Regulators deny quick approval of new Great Lakes pipeline   Jun 30, 2020
A Michigan regulatory panel on Tuesday refused to grant quick permission to run a new oil pipeline beneath a channel that connects two of the Great Lakes, Associated Press  

OPEC oil output sinks as Saudi deepens cuts and others cut more, survey shows   Jun 30, 2020
OPEC oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a Reuters survey found, pushing group compliance in a supply reduction pact above 100% despite incomplete adherence by Iraq and Nigeria. Reuters  

ConocoPhillips sees Q2 production 5% below Q1   Jun 30, 2020
COP) says it expects Q2 production excluding Libya will total 960K-980K boe/day, in-line with the same period a year ago and ~5% below Q Seeking Alpha  

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