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Potential For Undiscovered Oil and Gas Resources in US Gulf Coast, Agency Says

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – The U.S. Geological Survey (USGS) released an assessment on Wednesday detailing potential undiscovered oil and gas in two formations under much of the U.S. Gulf Coast from Texas to Florida. The assessment found that there are technically recoverable resources of 35.8 trillion cubic feet of natural gas and 28 million barrels of oil …

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US Crude Inventories Decline, Jet Fuel Demand Jumps, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

(Reuters) – U.S. crude stocks and distillate inventories fell last week, while jet fuel demand rose to a five-year high, the Energy Information Administration (EIA) said on Wednesday. Gasoline inventories rose, stoking concerns among analysts of weak demand ahead of a major driving holiday in the U.S. later this month. Crude inventories fell by 2 …

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Oil Market ‘Smile’ Suggests Saudi Arabia’s Output Shift Was Well Timed

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

(Reuters) – The oil market appears to be telling Saudi Arabia that its shift to pumping more oil after five years of cutting output was well timed. The kingdom has in recent weeks pushed fellow OPEC+ members to produce more oil despite fears about an economic slowdown, a marked change in policy that helped oil …

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Oil Wells Per Location in Lower 48 US States More Than Double in Past Decade, EIA Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The U.S. Energy Information Administration said on Wednesday that it estimates that the average number of oil wells completed simultaneously within 50 feet of each other in the Lower 48 states has more than doubled over the past decade. The agency said that simultaneous well completion per location had increased from 1-1/2 wells …

Oil Wells Per Location in Lower 48 US States More Than Double in Past Decade, EIA Says Read More »

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