RP Weekly Recap | May 10 – 14
Colonial Pipeline fell victim to a cybersecurity attack last Friday, forcing it to temporarily shut down all pipeline operations until Wednesday. As Colonial, the nation’s largest fuel pipeline transports nearly half of the East Coast’s fuel supply through a system that spans over 5,500 miles between Texas and New Jersey, the days long disruption caused long lines at gas stations in the Southeast due to distribution problems and panic-buying, draining supplies at thousands of gas stations. Since it will take several days for deliveries to return to normal, drivers have been finding gas stations with little or no gas in some Southeast states. Check out these stories and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 131,377,908 (up from 156,233,888 last week)
- Number of Cases (USA): 32,880,252 (up from 32,613,723 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Ransomware Attack Forces Shutdown of Largest Fuel Pipeline In U.S.
- Panic Buying And Gas Shortages Sweep The East Coast
- Colonial Pipeline Paid Hackers Nearly $5 Million In Ransom After Attack
- Permian Producer Laredo Petroleum Strikes $715 Million Deal for Sabalo, Partner
- Biden’s Not-So-Clean Energy Transition
- Bonanza Creek, Extraction Merger to Create Largest Pure-play D-J Basin Producer
- Toyota Says Most Of Its U.S. Cars Will Still Run On Gasoline In 2030
- EIA Reports Small Crude Draw
- Natural Gas Giant EQT Buys Marcellus Assets Of Alta Resources For $2.9 Billion
- Whiting Petroleum Redtail Assets, Weld County, Colorado
- Evolution Petroleum Acquires Tokyo Gas Barnett Shale Assets
Global Market News
- China Emissions Exceed All Developed Nations Combined
- India May Become Guyana’s Most Important Oil Client
- IEA: The Global Oil Glut Is Gone
- Canada Issues Warning To U.S. Over Oil Pipeline Shutdown Order
- BP Shareholders Reject Emission-Cutting Resolution
- Oil & Gas Deals In Middle East And Africa Slump By 33% In Q1
- COP26 President Says ‘Coal Must Go’ If Planet Is To Meet Climate Targets
- Jobless Claims Fell To A New Pandemic-Era Low of 473,000 Last Week – so far, 12 states have announced they’ll stop distributing extra unemployment benefits as soon as June or July
United States Rig Count
- Up 5 from last week for a total of 453
- Up 33.6% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- Chevron is no newbie to the oil and gas business, but how do their financials stack up to peers in the industry and their own financial history over the last three years? Find out with RARE PETRO’s newest segment, Energy Market Report Card!
- A New Basin Breakdown for the month of April is available now! Be sure to check back next week when we release our Basin Breakdown Podcast!
- Episode Four of Hydrocarbon History is available now! Join us as we explore the history of oil and gas to see what we might learn about hydrocarbon’s role in food security.
- A new episode of the Periodical Podcast is available now! Be sure to check out our discussion as we unpack the announcements made during President Joe Biden’s two-day virtual Earth Day summit that saw world leaders advocating commitments to cut greenhouse gas emissions and join in the global fight against climate change.
- This week’s Periodical explores President Joe Biden’s Earth Day Summit and details both the goals that Biden set and how the USA can potentially meet those goals. Included in this analysis are details about the future of natural gas production in electrical generation.
- Episode Fifteen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Debra Hall, President and CEO of Elementale Enterprises!
- 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!
- As Always, A New Monday Madness Podcast!
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