RP Weekly Recap | April 25 – 29
The Biden administration is closing off almost half of the 23-million-acre National Petroleum Reserve in Alaska from oil and gas drilling, overturning a Trump-era policy that would have allowed oil development on more than 80 percent of the reserve. The decision marks a return to an Obama administration plan to manage the area that would enable the administration to lease up to 52 percent of the reserve for oil and gas exploration. Meanwhile, the remaining approximately 11 million acres (48 percent)—which includes the majority of lands within “special areas” and much of the coastal area of the reserve along the Beaufort Sea—will be closed off to oil and gas leasing. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 512,726,698 (up from 508,178,483 last week)
- Number of Cases (USA): 81,289,510 (up from 80,858,111 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Even $100 Oil Isn’t Tempting Energy-Focused Private Equity Fund
- Biden Slashes Millions of Acres Eligible for Oil Drilling in Alaska
- ‘Pore Space’ a Growing Issue For North Dakota’s Energy Industry, Landowners
- Extreme Weather Leads To Sharp Drop In North Dakota Oil Production
Global Market News
- EU Warns Companies Not To Buy Russian Gas In Rubles
- German Energy Giant To Pay For Russian Gas In Rubles
- Four European Gas Buyers Made Ruble Payments to Russia
- Exxon Declares Force Majeure On Russian Sakhalin-1
- TotalEnergies Looks To Divest Nigerian Asset, Joining Big Oil Exodus
- Polish Media: Russia Has Halted Gas Supplies To The Country
- Activists Block Russian Oil Tanker From Unloading In Norway, Say Fuel Purchases “Financing” Putin’s War in Ukraine
- India’s Crude Oil Import Bill Doubles
- Libya’s Largest Oilfield Resumes Production
- Jobless Claims Drop to 166,000, Lowest Reading in 50 Years – revisions to the data may have been unusually affected by a change in the way the government treats seasonal variations
United States Rig Count
- Up 3 from last week for a total of 698
- Up 58.6% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A new segment has arrived! Join RARE PETRO’s Anthony McDaniels and Tavis Kilian for a quick analysis of what may be hiding in the headlines in our newest series, The Wacky World of Energy!
- In a time when energy independence should be above all else, the Biden administration continues to create policies that make domestic production difficult. Just today, the BLM announced that the amount of land available for offshore oil and gas drilling in Alaska’s Northeast National Petroleum Reserve would be reduced. This isn’t the first time drilling in Alaska has proved controversial. Our latest Periodical will explore the history of policies surrounding oil and gas drilling in Alaska, and attempt to argue why drilling here is critical.
- A New Basin Breakdown for the month of February is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Episode Seventeen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Cary Stockdell, CEO of Stockdell Stringer Leadership Solutions!
- RARE PETRO is the tik talk of the town! Short-form content to educate both the public or industry professionals is available NOW! Check out our latest Tik Tok Video uncovering what Hollywood does not understand about a blowout.
- RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the second edition of “Side Chat”.
- Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round.
- As Always, A New Monday Madness Podcast!
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