Category: Exploration and Production

Continental Resources signed a memorandum of understanding with Petróleos de Venezuela (PDVSA) on September 16 to operate and develop the Ayacucho 2 Block in Venezuela’s Orinoco Belt, marking the Oklahoma independent’s first move into the country and adding another U.S. operator to a rapidly expanding slate of post-sanctions oil deals.

Clark Savage1197

The MOU is not a final development contract. Continental and PDVSA said they intend to convert it into a long-term Contrato de Participación Productiva (CPP) in the coming weeks. Once that agreement is signed, Continental would operate the block with a 100% working interest. The announcement was made in Houston during the G20 energy ministers […]

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Why Alaska Matters, Energy Independence, Critical Minerals, and National Security

Clark Savage529

Bernadette Wilson, Alaska Republican for Governor, stops by the Energy News Beat Podcast. Alaska is not a remote afterthought. It is one of the United States’ most strategically important resource bases for energy security, defense-critical minerals, and food supply. For two decades, its oil output declined as legacy North Slope fields matured and new projects […]

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U.S. Weekly Rig Report: WellDatabase, Baker Hughes, and Enverus Compared — Record Production Meets Middle East Supply Shock

Clark Savage1291

The latest WellDatabase U.S. Rig Report dated September 11, 2026, shows 598 active rigs, down 32 week-over-week but up 22 year-over-year. Baker Hughes, which released the same day, reported 591 rigs, up 3 from 588 the prior week and up about 52–54 from 537 a year earlier. Enverus’ daily GPS-tracked count stood near 661 as […]

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WTI is trading in the low-to-mid $90s this week and is more likely to test $93–$98 than to sustain a move above $100 unless there is a sharp new disruption.

Clark Savage680

Physical tightness, high product cracks, and China’s selective rebound in buying are supporting prices, but inventories, China’s still-subdued import volumes, and the existing backwardation already price in a good deal of risk. What the OilPrice article and related reporting show The Sept. 7 OilPrice piece (and the overlapping Bloomberg coverage it draws on) reports that […]

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Weekly Rig Report: Baker Hughes Flat at 588, WellDatabase at 601 After a North Dakota Reclass, Enverus Still Running Higher

Clark Savage732

The three major U.S. rig tallies are telling the same structural story and three different weekly headlines. Baker Hughes held unchanged at 588 for a second straight week. WellDatabase printed 601, down 30 week over week but up 23 year over year. Enverus’s GPS-based daily count continues to run well above both weekly censuses, last […]

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