Analysts React to Saudi Oil Attack  | Rigzone
by  Andreas Exarheas | Rigzone Staff | Monday, September 16, 2019 Analysts have their say on the development. The recent attack on Saudi Arabian oil infrastructure will prove a headache for oil markets. That’s according to Torbjorn Soltvedt, principal MENA analyst at Verisk Maplecroft, who highlighted the “difficulty” in accurately pricing in the attack. Soltvedt
How to Reuse and Recycle More Produced Water in Texas  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Monday, September 16, 2019 Texas has been a forerunner in produced water management, but more needs to be done, a white paper’s authors contend. The Texas Alliance of Energy Producers contends the Lone Star State needs to improve its produced water management, and the organization on Monday
Iran to Release UK Flagged Oil Tanker  | Rigzone
by  Bloomberg | Arsalan Shahla and Verity Ratcliffe | Monday, September 16, 2019 Iran said that it will release a UK-flagged oil tanker it has detained for nearly two months. (Bloomberg) — Iran said that it will release a UK-flagged oil tanker it has detained for nearly two months, a conciliatory gesture as the fallout
Gas Prices Could Return to Disco-Era Levels  | Rigzone
by  Matthew V. Veazey | Rigzone Staff | Friday, September 13, 2019 A vestige of the era of disco, bell-bottoms and stagflation could be making a comeback next year. A vestige of the era of disco, bell-bottoms and stagflation could be making a comeback next year: very cheap natural gas. So says IHS Markit, which
Mexico's Growing Reliance on US Oil Will Continue  | Rigzone
by  Jude Clemente | Rigzone Contributor | Friday, September 13, 2019 Proven oil reserves in Mexico have collapsed from 50 billion barrels 20 years ago to just 8 billion barrels today. It has been a long and winding road for Mexico’s oil industry over the past 15 years. With the peaking of supergiant Cantarell, once
US Loses Another Dozen Oil, Gas Rigs  | Rigzone
by  Valerie Jones | Rigzone Staff | Friday, September 13, 2019 The nation’s number of active rigs dropped by 12 this week. The U.S. rig count has declined for another week as the nation drops 12 rigs, according to weekly data from Baker Hughes. The U.S. shed five oil rigs and seven gas rigs this
OPEC+ Cohesion Could be Eroding  | Rigzone
by  Andreas Exarheas | Rigzone Staff | Friday, September 13, 2019 OPEC+ cohesion could be eroding, according to Jefferies. OPEC+ cohesion could be eroding. That’s what analysts at investment bank Jefferies stated in a new research note sent to Rigzone on Friday. In the note, the analysts highlighted that a statement from the September 12
Rig Bosses Try to Win Back Investors  | Rigzone
by  Bloomberg | Mikael Holter | Friday, September 13, 2019 Offshore drilling executives are trying to win back investors who have fled their stocks over the past year. (Bloomberg) — Offshore drilling executives are trying to win back investors who have fled their stocks over the past year, insisting that a protracted recovery is gaining
Venezuela Cannot Find Vessels to Ship Its Oil  | Rigzone
by  Bloomberg | Lucia Kassai | Friday, September 13, 2019 Exports of sanction-hit Venezuelan oil now face a new concern. (Bloomberg) — Exports of sanction-hit Venezuelan oil now face a new concern: a shortage of vessels willing to transport crude produced by the regime of President Nicolas Maduro. Shipowners are avoiding transporting Venezuelan oil for
Oil Prices Down for the Week  | Rigzone

Oil Prices Down for the Week  | Rigzone

by  Matthew V. Veazey | Rigzone Staff | Friday, September 13, 2019 WTI and Brent futures declined for the fourth straight trading day Friday. West Texas Intermediate (WTI) and Brent crude oil futures declined for the fourth straight trading day Friday. The October WTI contract settled at $54.85 per barrel Friday, reflecting a 24-cent loss.