Penn Virginia recently increased its Eagle Ford position and wants to add more acreage in what it considers its most promising reservoir. More »
Oil slipped after the Federal Reserve said Thursday that U.S. industrial production dropped in April. More »
A former top energy official for Mexico on Thursday said it may be too early for Pemex to promise to farm out land rights to private companies looking to develop massive energy resources that the state-run oil company is expected to acquire soon. More »
The United States will need to produce as much oil and gas as it can muster to prepare for massive global demand growth over the next four decades, a U.S. Chamber of Commerce official said Thursday. More »
The Organization of Petroleum Exporting Countries will need to provide an average of 30.7 million barrels a day in the second half, or 800,000 a day more than it pumped last month, the IEA said today. More »
The White House “will favor” lifting the nation’s 40-year-old ban on exporting oil, a leading energy expert said Wednesday at a symposium in San Antonio. More »
Canada is increasing the liability of pipeline operators for spills and giving regulators more power to enforce safety measures. More »
WTI rebounded last week after the EIA said crude inventories slid from 399.4 million barrels, the highest level since weekly reports were published in 1982. Supplies expanded by 912,000 barrels in the seven days ended May 9, according to the API, which collects information on a voluntary basis from operators of refineries, bulk terminals and pipelines.
Output rose 78,000 barrels a day to 8.428 million, the most since October 1986, according to Energy Information Administration data. More »
New Mexico Gov. Susana Martinez applauded the company’s investment in the state.
The Safe union will order as many as 154 offshore-platform workers to walk out if the talks fail, paralyzing production at the Ringhorne, Jotun and Balder fields, the group’s leader Hilde-Marit Rysst said by phone. More »
The bill imposes a 2.5-percent severance tax on horizontal wells, including those extracting resources through hydraulic fracturing. More »