Oilfield services giant SLB (formerly Schlumberger) is preparing to reactivate as many as 15 idle drilling and workover rigs already located in Venezuela, a move that could help ease one of the primary bottlenecks constraining the country’s crude production recovery. Executives outlined the plans at an industry conference in Houston on August 19, 2026. William […]
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On August 18, 2026, Evolution announced a definitive agreement to acquire mineral, royalty, and overriding royalty interests spanning approximately 3,420 net royalty acres (NRA) across 152 tracts in Reagan, Upton, Glasscock, Midland, and Martin Counties, Texas, from a non-affiliated private seller. The purchase price is approximately $16 million in cash, subject to customary adjustments. The […]
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The ambitious plan to build a major new crude oil export route from Iraq through Syria to the Mediterranean—explicitly designed to reduce dependence on the Strait of Hormuz—will require at least four years of construction and an investment of $15 billion or more, according to sources directly involved in the project speaking to Reuters on […]
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The American continents—North and South America combined—have reached a landmark in global energy: roughly 42 million barrels per day of total liquids production. This figure, drawn from recent assessments of crude oil, natural gas liquids (NGLs), other petroleum fuels, ethanol, and biodiesel, marks a decisive shift in the world’s oil map. It has already surpassed […]
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Noreva (formerly Karbone Research), an AI-powered energy market intelligence platform, recently expanded its offerings with enhanced U.S. natural gas forecasting tools. These include merchant curves, scenario modeling, fundamentals analysis, basis and logistics analytics, and capacity pricing forecasts that integrate real transactional data, supply-demand balances, policy factors, and proprietary models. The service aims to provide clearer […]
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U.S. oil and gas drillers posted a modest weekly gain according to the industry’s most widely followed benchmark, while production continues to hold near record levels. This points to ongoing capital discipline even as output edges higher. The Latest Rig Counts Baker Hughes reported the U.S. rotary rig count rose 5 week-over-week to 593 for […]
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Major U.S. shale producers are dialing back capital expenditures in key basins even as crude prices remain elevated, prioritizing shareholder returns, debt reduction, and free cash flow over rapid production growth. This capital discipline is creating headwinds for U.S. oil supply expansion at a time when global markets continue to seek reliable barrels. According to […]
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Saudi Aramco has put a stark number on the energy fallout from the ongoing US-Iran conflict: more than 2.6 billion barrels of oil supply lost since fighting erupted in February 2026. That figure, first highlighted by Aramco CEO Amin Nasser in early August and amplified in a recent Reuters report widely shared on X by […]
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The Trump administration’s third mandated offshore oil and gas lease sale in the Gulf of America (formerly the Gulf of Mexico) offered more than 81 million acres across roughly 15,100 unleased blocks on August 12, 2026. Conducted by the Marine Minerals Administration (the agency formed by combining the Bureau of Ocean Energy Management and the […]
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The International Energy Agency’s latest Oil Market Report underscores a deepening imbalance in global oil markets. Despite a sharper-than-expected contraction in demand driven by elevated prices from the ongoing Iran conflict and related disruptions, supply shortfalls have widened even more, producing the tightest near-term balances in years. At the time this article is written, Brent […]
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