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  • New Mexico Oil Production Reaching New Heights
    455 MMBOPD so far this year Oil production is having a record year in New Mexico, driven by booming activity in the Permian. While the Permian is generally regarded as a Texas basin, it stretches up into southeast New Mexico. Wells in New Mexico can be just as productive as those in Texas, and some […]
  • First Nations Complete Purchase of 49% Interest in Suncor’s East Tank Farm Development
    Suncor Energy Inc. (NYSE: SU), Fort McKay First Nation (FMFN), and Mikisew Cree First Nation (MCFN) announced today the completion of the acquisition by FMFN and MCFN of a 49% partnership in Suncor's East Tank Farm Development for total proceeds of $503 million. Fort McKay First Nation is composed of over 800 band members with […]
  • Global Oil Inventory Data of Dubious Reliability: Dallas Fed
    Revisions can substantially change overall picture Global inventories of crude oil are much in the news currently, and reducing them is the main goal of OPEC’s cut agreements. However, according to the Federal Reserve Bank of Dallas, all is not right with the numbers. According to the Texas-based number crunchers, global inventory data may not […]
  • U.S. Land Rigs Pierce 900 Once Again
    Wyoming sees largest increase Drilling activity increased this week, according to Baker Hughes’ Weekly Rig Count. The total number of rigs active in the U.S. rose by eight to 923 this week, marking the third straight week of increasing activity. Seven of these rigs are based on land, while one offshore rig became active. There […]
  • Fed Plans to Hike Rates, WTI Reaches Two-Year Highs
    $58 WTI in intraday trading Minutes from the Federal Reserve’s October 31-November 1 meeting were released today, giving information about a rate hike in December. Bottom line: the Fed kept interest rates unchanged this meeting, but signaled a rate hike in December. “Many participants thought that another increase in the target range for the federal […]
  • Poland Snags First 5-Year Contract for U.S. Natural Gas: Adios Russia
    Polish Oil and Gas Company Group (PGNiG) signed a five-year contract with the UK’s Centrica LNG Company Limited. The LNG supply will be sourced from Cheniere Energy’s Sabine Pass LNG Terminal, USA (ticker: LNG). The contract is on a DES delivery basis and will begin in 2018. Up to nine cargoes will be delivered during […]
  • What’s Next for the Economies of China and India?
    Since 1990, China and India have accounted for 57% of the total increase in world energy consumption Earlier this week the EIA put out data that revealed that the world’s developing countries used higher amounts of electricity than OECD countries. In a graph, the heavy users were China, India, Brazil and Egypt, with the U.S., […]