WTI Crude
48.61
Brent Crude
50.78
Natural Gas
3.24
  • Golden Pass LNG cleared to export

  • Kinder: Permian gas line interest significant

  • $73 billion in mergers and acquisitions last quarter

  • Oilfield equipment rentals on the rise

  • Oil service costs could rise 15 percent this year, Wood Mac says

Strength in Oil and Gas Sector Bolsters Industrial Economy, Drives GDP Growth

The initial report on 1st-quarter Gross Domestic Product (GDP) was weak, but showed encouraging growth in the oil and gas production sector. Capital investment, which has been historically weak since the Great Recession, bounced back to a 9.4% uptick, led by expansion in oil and gas drilling and related equipment. The Federal Reserve Board earlier reported preliminary 1st-quarter industrial production involving drilling in…
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US Industry Seeks Faster Permits, Simpler Rules

U.S. industry groups have told President Donald Trump’s administration that they want two main things from his promised regulatory overhaul: a speedier permit process and simpler environmental rules. Associations representing the drilling, refining, mining, and building industries have submitted hundreds of pages of documents to the Commerce Department and Environmental Protection Agency (EPA) in recent weeks, outlining regulations they want…
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US Shale Oil, Gas Production Still Rising

U.S. oil production from shale plays is forecast to increase again, jumping 122,000 barrels per day (Mbbl/d) to 5.4 million barrels per day (MMbbl/d) in June, according to the latest drilling productivity report from the U.S. Energy Information Administration (EIA). Leading the pack is, of course, the Permian, where oil production could reach about 2.5 MMbbl/d, an increase of 71…
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