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An LNG tanker offloads in Cove Point, Md., in 2003.  (AP Photo/ Matt Houston)

Commentary: Global oversupply is persistent in global oil, LNG markets

Seven score and twelve years after Abraham Lincoln delivered the Gettysburg Address, and the crude complex is examining its own principles: those of supply and demand. Given the current lack of equality betwixt the two, crude prices are heading lower once again, dipping below $40 for a second consecutive day. US and Canadian production provide […]
Categories: Crude oil, Texas

Chinese investment company to buy Texas oil fields for $1.3B

In a disclosure to the Shanghai Stock Exchange, Yantai Xinchao Industry Co. said the oil fields in Howard and Borden counties would be bought from Tall City Exploration and Plymouth Petroleum, two Nevada-based companies.
The EPA heard radically different views as it opened public hearings in Denver on its proposal to slash allowable methane emissions from oil and gas production. (Lucas Schifres/Bloomberg)

Raymond James: Natural gas production is slowing, but another boom could be on the way

After adding as much as 5.4 billion cubic feet per day in new production in 2014, the U.S.’s natural gas haul leveled off at about 73-75 billion cubic feet per day in early 2015, according to Raymond James.
(Ken Childress/Rosetta Resources)

Noble Energy to buy Rosetta Resources for $2.1 billion

Noble Energy will buy Rosetta Resources in a $2.1 billion deal that gives Noble a footprint in the Eagle Ford and Permian Basin, two of the largest shale plays in the United States.
Oil Boom Shifts The Landscape Of Rural North Dakota

Shale boom to start busting as U.S. output set to fall

The shale oil bonanza that made millionaires from Texas to North Dakota is slowing down for the first time in years, a sign that painful industry cutbacks are starting to have an impact.
(Daniel Acker/Bloomberg)

EIA: Eagle Ford production will slow in April

Oil production from the six largest shale plays in the U.S. will hit 5.6 million barrels per day in April, an increase of less than 300 barrels per day over March.
(Photographer: Eddie Seal, Bloomberg)

U.S. rigs are being idled, but the oil boom is not ending

The industry has become better at blasting crude out of deep underground layers of rock, according to productivity data tracked by the EIA in the major shale prospects.
(AP Photo/Sue Ogrocki, File)

Rosetta Resources to cut 2015 spending

The company also said it would pare back the number of drilling rigs it will use and announced plans to refocus more of its budget on the Permian Basin.

Apache to cut North American spending

Apache will cut its North American spending from $5.4 billion to $4 billion, the company told analysts at a presentation in New York, but it said it will be able to spend that money more efficiently.
Growing concern about water use during hydraulic fracturing prompted the Railroad Commission to adopt new rules for water recycling.  Photo: Daniel Acker/Bloomberg

Water outreach should be a priority for drillers, report says

Oil companies don’t have the best reputations in the communities where they drill, and can be seen as threats to local water supplies.