RP Weekly Recap | July 19 – 23
In the continued push for sustainable energy development, shale gas producer CNX Resources released its 2020 corporate responsibility report announcing its net carbon-negative achievement, a rarity for the oil and gas industry. The achievement signifies the sustainable business model of a low-cost producer focused on ESG progression is the direction the many in the industry are headed. Check out this story and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 192,826,064 (up from 189,259,053 last week)
- Number of Cases (USA): 34,293,127 (up from 33,986,543 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Shale Gas Producer CNX Resources Achieves Net Carbon Negative Status
- U.S. and Germany Reach Deal On Controversial Nord Stream 2 Pipeline
- Kinder Morgan Strikes $310 Million Deal for Kinetrex Energy
- The $20 Billion Winner of the American EV Startup Boom: Saudi Arabia
- Whiting Petroleum to Exit D-J Basin in A&D Double Play
- Biden Digs in on BLM Nominee as Republican Opposition Mounts
- U.S. Regulator Issues Notice to Dakota Access Pipeline over Safety Concerns
- Indiana Unveils Wireless Charging Highway For Electric Vehicles
- Grenadier Energy Lands EnCap Commitment Following Midland Basin Sale
- U.S. Threatens Iran With New Sanctions If A Nuclear Deal Is Not Reached
- Oil Dips After EIA Reports Crude Inventory Build
- Construction Begins on Bakken Natural Gas Pipeline Project
- Hess Sets ‘Aggressive’ Emission Reduction Targets as ESG Performance Soars
- The United States Looks For A Balance Between Oil Needs And Climate Reality **INTERESTING READ**
Global Market News
- OPEC, Allies Agree to Boost Oil Output as Demand Roars Back
- Everything You Need To Know About OPEC’s New Agreement
- Saudi Arabia Wants To Pump ‘Every Last Molecule Of Oil’
- Saudi-Owned Motiva Suspends $6.6 Billion Petrochemical Expansion
- Oil Suffers Double Whammy In Weakest Week Since March
- China Is Growing Increasingly Reluctant To Fund African Energy Projects
- China Ramps Up Coal Production To Meet Growing Energy Demand
- Shell To Appeal Landmark Court Ruling
- Road Fuel Demand Set For Early 2027 Peak
- Nisga’a Nation, Partners Propose New $10 Billion LNG Megaproject in Canada
- Deadly Typhoon Threatens Strategic Chinese Oil Hub
- The Renewable Energy Waste Crisis Is Much Worse Than You Think **INTERESTING READ**
- Texas Upstream Job Growth Surges 94% for June
- Texas Upstream Gains Nearly 8,800 Jobs
- Jobless Claims Unexpectedly Rise Above 400,000 – the increase takes the weekly number above the critical 400,000 threshold after several weeks of declines
United States Rig Count
- Up 7 from last week for a total of 491
- Up 95.6% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- A New Basin Breakdown for the month of June is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Episode Sixteen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with David MacNeill, the founder, President, and CEO of Wellbore Integrity Solutions!
- Tune in for the first episode in our educational series where we consult experts in the field on many different technical disciplines. In our first episode, your host Tavis uncovers the fact that scientists, philosophers, and engineers have been predicting the eventual peak of oil production for decades, but each estimate has been incorrect. Was 2019 the year of peak oil? What are factors contributing to a decline in production? What are the newest estimates for peak oil? Tune in to Peak Oil: The Continuous Climb to find out!
- Founded in 2007, Oasis Petroleum has done a stellar job of making a name for itself in the Williston Basin. How do they financially stack up to a past version of themselves and other peers in the area? Find out with RARE PETRO’s Energy Market Report Card! Or check it out in Video format HERE!
- 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.
- Our latest episode of the Periodical Podcast is available now! Be sure to check out our discussion highlighting the record-toppling, early-season heat waves well into the triple digits that have spread across the western portion of the United States straining electricity grids as severe drought constricts hydroelectric power generation. As the summer months continue, electricity security is beginning to bear its ugly face yet again as states like California and Texas brace for a difficult season.
- Our latest Periodical uncovers Joe Biden’s new BLM Nominee, Tracy Stone-Manning, and why Republicans are pushing back but more importantly, what this means for the oil and gas sector.
- As Always, A New Monday Madness Podcast!
- Is oil valuable? Depends on who you ask! Some argue it only became valuable when we learned how to use it. Join your host Tavis Kilian for episode five of Hydrocarbon History as he explores the birth of the modern oil and gas industry!
- Episode 11 (Tackling the Data Monster Pt. 2) of the Modern Mobile Oilfield is available now! This series is a collaborative effort between world-renowned author Geoffrey Cann and RP host Tavis Killian that will expand on topics covered in the book “Bits, Bytes, and Barrels”. This new segment is aimed at energy professionals at any level who are looking to better understand the future of a digital oilfield and potentially implement these technologies into their company’s workflow. Be sure to watch or listen on all available platforms!
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