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Crude Weekly Update

crude market

Oil Inventories Crude oil futures prices jumped on New York and London markets last week, and analysts said the US market fluctuated awaiting a decision from Federal Reserve officials regarding whether they would accelerate the tapering of an economic stimulus program. The US Energy Information Administration said commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 6.4 million bbl for the ...

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Liberty Resources II LLC Announces Acquisition of Bakken Assets, Marking Return to Williston Basin

Liberty Resources II

DENVER and LONDON, Jan. 30, 2014 /PRNewswire/ Liberty Resources II LLC (“Liberty II” or the “Company”), a Denver-based oil and gas company, today announced that it has entered into an agreement to acquire oil and gas assets in North Dakota’s Williston Basin for $455 million.  The properties to be acquired comprise approximately 53,000 net acres in Williams, Divide, Burke and ...

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Exxon Mobil profit tumbles as energy production tapers

stock

(Reuters) – Exxon Mobil Corp <XOM.N>, the world’s largest publicly traded oil company by market value, posted lower-than-expected quarterly profit on Thursday as it failed to offset declining production with fresh reserves. Shares of Exxon fell nearly 2 percent to $93.28 in morning trading. The problem of declining production has become endemic for multinational energy groups, with legacy oil and ...

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Businesses, Families Considering Contingency Plans for Pipeline Accidents

cold hands

By: Archie Ingersoll, INFORUM FARGO – A Canadian pipeline explosion that created a shortage of natural gas and prompted calls to curb usage over the weekend in the Fargo-Moorhead area has put a focus on the region’s preparations for a widespread outage of a heating source during a cold spell. The pipeline explosion south of Winnipeg led Xcel Energy to ask ...

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FIG Tree Capital Ventures Commits $10 Million to the Bakken /Three Forks Shale

fig tree

McKinney, Texas (PRWEB) January 27, 2014 The Bakken shale is known as one of the most prolific oil discoveries in the last 50 years. The Bakken/Three Forks Shale formations are responsible for producing over 1,000,000 barrels of oil per day and that number it is expected to increase substantially over the next few years. FIG partners with publicly traded operators, ...

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Crude Weekly Update

business

Oil Inventories This week, WTI and Brent crude oil prices diverged in movement.  Brent rose for a 4th consecutive day as US distillate inventory declined more than expected; while WTI was pressured by disappointing Chinese PMI data and comments from the Iranian President that the Middle East country would have a compelling new model for oil investment by September. The ...

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Exclusive: World buyers line up to buy US natural gas – Reuters

world buyers

By Oleg Vukmanovic and Edward McAllister LONDON/NEW YORK (Reuters) – Countries across the world have been quietly signing deals in recent months to import natural gas from the United States, revealing a growing appetite for the fuel overseas as domestic output soars. Up to a dozen long-term deals, each worth billions of dollars, have been penned behind closed doors with ...

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