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40/bbl range in 2015, near “an absolute price floor,” the comparative head of Astenbeck Capital Management composed in a Jan. 2 letter obtained by Bloomberg News. A substantial amount of U.S. Canadian production can’t cover the money costs of operating at that price, he said. Bibby Subsea indications vessel agreement with Bordelon Marine HOUSTON Bibby Offshore’s Houston structured division, Bibby Subsea has signed a three 12 months agreement with Bordelon Marine to charter a fresh vessel. Oil exports from U.S. WASHINGTON (Bloomberg) — The U.S. November after a five-year run of creation development that has made the united states the most oil-independent in 20 years.
Shipments surged 34% to average 502,000 bopd in November, the most on record dating back again to 1920, data from the U.S. Census Bureau and the power Information Administration show. Oil glut could take years to fix, U.A.E. ABU DHABI (Bloomberg) — Oversupply in crude markets could take months or even years to fix depending on when manufacturers outside OPEC cut their result, Abu Dhabi-based The National reported, citing feedback by U.A.E.
Energy Minister Suhail Al Mazrouei. LOUISVILLE, Kentucky — Permian production started 2015 on a fairly weak note, curtailed by freeze-offs caused by below freezing temperature ranges. Producers and marketers scrambled to meet sales quotas with the decreasing oil production amounts by drawing from storage in the basin, regarding Genscape’s Midland-Basin Storage Report. Wellsite Rental diesel light towers reduce operating expenses with added benefits BROUSSARD USA Wellsite Rental Services has added long run diesel light towers to its local rental equipment series. SM Energy announces plan to exit U.S.
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SM Energy announces plan to exit U.S. DENVER, USA SM Energy is beginning a process to market its possessions in the Arkoma basin of Oklahoma and in the Arklatex area of East Texas and Northern Louisiana. DALLAS, Texas — Pioneer Natural Resources has announced that severe winter weather in West Texas has significantly impacted production and drilling functions in the Spraberry/Wolfcamp area. Shale economics shut down nuclear flower VERNON, Vermont – The state’s only nuclear seed has ceased sending capacity to the New England grid after more than 42 many years of producing electricity. Oil plunge boosts U.S. NY (Bloomberg) — The plunge in global crude essential oil prices has helped boost U.S.
Deliveries to onshore pipelines from LNG terminals in Massachusetts and Maryland on Jan. 7 were the most since Jan. 10, 2010, regarding Ventyx data published by Bloomberg. Volumes in January are more than six times higher than this past year, when the polar vortex spurred record consumption. CIUDAD DEL CARMEN, Mexico (Bloomberg) — A lot more than 10,000 people working at Mexican essential oil service companies were laid off this week as state-owned Petroleos Mexicanos cut contracts in the face of the global slump in crude prices.
More job loss is expected. A lot of the companies are located in Ciudad del Carmen, on the Campeche Bay in the Gulf coast of Florida, and were informed this week that contracts wouldn’t be restored with Pemex, as the world’s largest oil maker is well known ninth. Job losses could rise to 50,000, Gonzalo Hernandez, secretary at the Ciudad del Carmen Economic Development Chamber, said in a phone interview. U.S. crude export ban poised to loosen with Mexico request By ADAM WILLIAMS and DAN MURTAUGH MEXICO CITY and HOUSTON (Bloomberg) The 40-year-old ban of all U.S. GEG promotes Cummins to V.P. GEG encourages Cummins to V.P.
HOUSTON Greene’s Energy Group (GEG) has promoted Tracy Cummins to V.P. HOUSTON — Halcon Resources Corp. 2015 drilling and conclusion budget. 800 million and said that it intended to operate six rigs in 2015, five less than originally prepared. 425 million and cut even more rigs. Shale producers in U.S.