All of the majors reported lower earnings for the first quarter. Already, some energy companies active in the shale patch are cutting their drilling budgets for the year. Oilfield services providers are bracing for impact as several large E&P firms are cutting back on drilling programs. U.S. oilfield service majors had a good run after […]
Continue ReadingCo-authored by Ronald Stein, P.E. and Mike Umbro California’s Governor Newsom has been on this planet for 57 years and has yet to publicly recognize that modern life requires the use of fossil fuels to function. California is the fourth largest economy in the world. We require the PRODUCTS and TRANSPORTATION FUELS made from fossil fuels to meet […]
Continue ReadingENB Pub Note: This article from Oilprice.com follows last week\’s statements from Chris Wright that the SPR had damage from oil being withdrawn so fast, and only saw a 40-cent reduction at the pump for the primaries. The money being requested won\’t be felt at the pump that hard, as it will take time to […]
Continue ReadingThere is no question that the Biden Administration used the United States Strategic Petroleum Reserve for political gain when it opened and caused significant drawdowns right before the mid-term elections. Key Points The Biden administration significantly depleted the Strategic Petroleum Reserve (SPR), but replenishment efforts have restored much of it. There is no conclusive […]
Continue ReadingBefore oil prices started plunging last month, most banks and research firms had forecast US shale production would grow this year and next before plateauing later in the decade. Diamondback Energy trimmed its own full-year production forecast Monday, and said that it expects onshore oil rigs across the entire US industry to drop by almost 10% […]
Continue ReadingMarathon Petroleum Corporation (MPC) released its Q1 2025 earnings results on May 6, 2025, reporting a net loss attributable to MPC of $74 million, or $0.24 per diluted share, compared to a net income of $937 million, or $2.58 per diluted share, in Q1 2024. Below is a detailed analysis of the earnings report based […]
Continue ReadingENB Pub Note: Yesterday, we examined Cap Ex budgets, and today, we are investigating production, demand estimates, and storage. The current storage levels are low and are listed below. Here is a lot of data to chew on. Go ahead and skip to the summary if you want to know what price I think we […]
Continue ReadingENB Pub Note: If you have heard the Energy News Beat Podcast, you have heard me say that ESG Investing has impacted American oil and gas companies and their commitment to their investors and stakeholders. I would say that goes for the public and private companies. For the public companies, it is easy to look […]
Continue ReadingENB Pub Note: This article is from The Crude Truth Substack. I agree with the point that a single basin output does not define the country\’s energy production capabilities. So, has the United States hit peak oil and gas production, or is it just one basin? I agree with Rey Trevino that we are not […]
Continue ReadingENB Pub Note: This is from Nathan\’s Substack. We highly recommend following him as he is a wealth of energy and knowledge in the U.S. Sunoco LP, a major player in the U.S. energy sector, has announced a landmark deal to acquire Parkland Corporation for $9.1 billion [1]. This strategic move is set to create the largest […]
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