RP Weekly Recap | May 3 – 7
As vaccine rollouts continue to increase, many questions about the future of oil and gas and its potential growth into the future begin to arise. Luckily, over the past few weeks, many oil and gas companies have been releasing their quarterly earnings, shedding light on what the future for fossil fuels might look like. This week’s articles feature sold acreage, new discoveries, and unique deals between companies so be sure to check out our highlighted articles to gain perspective into future hotspots and where the industry is headed.
- Number of Cases (Worldwide): 156,233,888 (up from 150,699,821 last week)
- Number of Cases (USA): 32,613,723 (up from 32,301,639 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- EIA Reports Massive Crude Inventory Draw
- Diamondback Energy Sells Bakken Asset to Oasis in $745 Million Cash Deal
- Chevron Offers $100 Million in Permian Basin Acreage as M&A Heats Up
- Texas Legislature Advances Bills To Shield Oil and Gas From Climate Initiatives
- New Mexico Oil and Gas Royalties Set Highest Monthly Record
- Chesapeake Seeks to Sell South Texas Shale Assets For $2 Billion
- Pioneer Natural Resources More than Doubles Profit in First Quarter
- Good Luck Getting Gas This Summer
- Texas April Drilling Permits Up 60% Over Last Year
- Why Exxon And Chevron Are Not Going All-Out In The Permian
- Weld County and Colorado State Commission Reach Agreement On Streamlined Drilling Permits; County To Oversee Surface Regulations
Global Market News
- Chevron Hokkaido Deal Marks Asia-Pacific LNG Shift
- Oil Giant Saudi Aramco Beats Estimates With 30% Hike in First-Quarter Profit
- Iraq Considering Buying Exxon Stake in West Qurna 1 Oilfield
- BHP Reports First Oil Production at Ruby Project in Trinidad and Tobago
- SDX launches Morocco Drilling Plan
- BP Bows Out of Two Russian Oil and Gas Blocks Held With Rosneft
- Chinese Oil Imports Dropped 11% In April
- Total Starts Production at Angolan Oil Project
- Suspected Islamic State Militants Blow Up Oil Wells In Northern Iraq
- Alberta Temporarily Tweaks Canadian Environmental Liability For Oil Sands Mines
- OPEC+ Oil Quota Overproduction Rises to 3.316 Million b/d
- BP Lighthouse Acquires Three Italian Solar Projects
- Jobless Claims Keep Dropping Last Week to Below 500,000 For The First Time Since The Pandemic Began – plus, employers laid off the fewest people in almost 21 years in April
- Could A Shortage in Gas Truck Delivery Drivers Impact Summer Travel Plans?
United States Rig Count
- Up 8 from last week for a total of 448
- Up 25.4% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- Episode Four of our newest segment, 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.
- 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!
- A new episode of the Periodical Podcast is available now! Be sure to check out our discussion covering California Senate Bill 467 that attempted to upend and ultimately eliminate the oil and gas industry in the Golden State.
- 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 is details about the future of natural gas production in electrical generation.
- 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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