US oil producers are struggling to defend margins at $60 WTI due to additional corporate costs that raise the all-in breakeven price. Trade policies and market volatility are threatening US oil production growth, particularly in the Permian Basin, as companies may need to cut back activity to maintain investor payouts. Increased hurdle rates and debt […]
Continue ReadingENB Pub Note: This article from Robert Rapier is spot on. Low oil prices are not always a good thing. When the price is too low, drilling stops, and then when the price comes back up, drilling begins again. We will see a price spike soon, as we are still short 4 trillion in cap […]
Continue ReadingIn this episode of Energy Newsbeat – Conversations in Energy, host Stuart Turley engages with Doug Sandridge to explore the complex issues surrounding the Diablo Canyon nuclear plant in California. They discuss the impact of the plant\’s closure on the Northern Chumash Tribe, as well as the tribe\’s efforts to purchase the land surrounding the […]
Continue ReadingPresident Trump\’s tariffs are creating some uncertainty in the United States oil and gas market and resulting in a price drop. Brent crude futures were trading at $69.90 per barrel on Thursday, the same day that Trump announced his sweeping tariffs, while West Texas Intermediate futures were at about $66, both down around 7%. Rey […]
Continue ReadingTrump’s sweeping tariffs and China’s retaliation triggered a sharp drop in oil prices. The oilfield services sector is particularly vulnerable, facing reduced demand and profit margins due to falling oil prices, higher import costs, and tighter client budgets. With WTI hovering near breakeven levels and OPEC+ unexpectedly ramping up output, analysts foresee consolidation among oilfield […]
Continue ReadingA top executive at Diamondback Energy Inc. called on President Donald Trump’s administration to explain how the global trade war will help shale producers, a rare instance of public pushback from a US oil boss. “This administration better have a plan @SecretaryWright,” Kaes Van’t Hof, president of Diamondback, said April 6 in a post on X. He added that US shale […]
Continue ReadingENB Pub Note: This is a critical story, and we will dig into this issue. The program in the IRA allocated $1.55 billion to the MERP, with $350 million designated as formula grant funding to states to monitor and reduce methane emissions from marginal conventional wells on non-federal lands. This funding, announced in December 2023 […]
Continue ReadingENB Pub Note: As of recent data, the United States consumes approximately 20 million barrels of oil per day. This figure is based on averages from 2023 and 2024, with the U.S. Energy Information Administration (EIA) reporting total petroleum consumption at around 20.25 million barrels per day in 2023, including biofuels. Daily consumption can fluctuate […]
Continue ReadingWe may slow down, but we still have growth available. At what cost is yet to be determined. Predicting the exact timing of peak oil production in the Permian Basin is complex and depends on various factors, including geological limits, technological advancements, economic conditions, and operational strategies. However, based on available data and expert analyses, […]
Continue ReadingThe judge ruled the 2023 Gulf lease sale violated environmental law by ignoring climate, CO2 emissions, and whale impacts. A federal district judge has issued a ruling against a Gulf [oil and gas] lease sale conducted by the Biden administration in 2023, saying the Interior Department was in violation of the Environmental Policy Act by […]
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