The U.S. oil and natural gas rig count experienced a slight decline, falling by four to a total of 633 rigs for the week ending August 21. Despite this modest drop, industry analysts have noted a surprising resilience in both oil supply and natural gas prices as the year progresses, suggesting that the market may be more robust than previously anticipated ..read more

The United States government has announced a significant investment of $7.3 billion from the 2022 Inflation Reduction Act (IRA) to support clean energy initiatives led by rural electric cooperatives. These projects aim to reduce energy costs, enhance reliability, and promote sustainability for rural communities, where energy costs tend to be higher than in urban areas. This investment marks a substantial effort toward decarbonizing rural America while supporting job creation and infrastructure improvements ..read more

Solar energy is quickly becoming one of the most popular and sustainable ways to generate power. As more people and businesses turn to renewable energy, finding the best spots in the United States to build solar farms is crucial. This is where Geographic Information Systems (GIS) comes in. GIS technology helps us analyze the environment, land features, and land use to identify the best places for solar energy projects. By using GIS, we can boost energy production and reduce the environmental impact, all while helping the country meet its renewable energy goals ..read more

Quantum Capital Group has bought Caerus Oil and Gas, a company focused on the Rockies, in a deal worth $1.8 billion. The acquisition includes Caerus' extensive assets in the Piceance Basin in western Colorado and the Uinta Basin in eastern Utah ..read more

Investors remain strongly bearish on petroleum prices, even as confidence grows that the U.S. Federal Reserve will cut interest rates to boost consumer and business spending. Last week, fund managers returned to selling oil futures and options, as the brief rally from the previous week quickly lost steam and negative sentiment took hold once again. Hedge funds and other money managers offloaded 48 million barrels across the six major futures and options contracts in the week ending August 20. This marks the sixth time in seven weeks that funds have been sellers, reducing their positions by a s ..read more

Last week, Exxon Mobil, Shell, BP, and ConocoPhillips all reported second-quarter earnings that exceeded analysts' expectations, while Chevron’s results fell short, largely due to challenges in its refining business. A significant portion of these multi-billion dollar earnings came from oil and gas production. The companies' executives have indicated that they plan to increase spending on new exploration projects moving forward. While this doesn't suggest that investors are ignoring climate goals at these major oil firms, it does show that they are focusing more on the profits generated from p ..read more

Last year, a Pew Research Center survey revealed that 67% of Americans are in favor of developing alternative energy sources. Similarly, an Eligo Energy survey indicated that 65% of U.S. consumers are prepared to pay a premium for renewable energy. According to Mordor Intelligence, the U.S. renewable energy market is projected to reach 434.5 GW in 2024, with further growth expected at an annual rate of 10.01%, reaching 700.15 GW by 2029 ..read more

TotalEnergies has announced the start of oil production from the Anchor field, located 225 km off the coast of Louisiana in the Gulf of Mexico. The Anchor field began development in December 2019 and is a joint project between TotalEnergies, which holds a 37.14% stake, and Chevron, the operator, which has the remaining 62.86 ..read more

Vital Energy is joining forces with Northern Oil and Gas (NOG) to acquire Point Energy Partners’ Delaware Basin assets for $1.1 billion. As part of the agreement, Vital and NOG will purchase Point Energy’s assets in an all-cash deal. Vital Energy will take 80% of the assets, while NOG will acquire 20%. Vortus Investments currently own Point Energy ..read more

The U.S. natural gas pipeline network is a complex pipeline system that transports natural gas from production areas to consumers nationwide. The pipeline network consists of three main pipeline types: gathering, transmission, and distribution. In 2023, the U.S. had one of the most extensive pipeline networks in the world, with over 2.5 million miles of pipelines transporting oil, natural gas, and other liquids and gases. The pipeline industry continues to invest in new infrastructure to meet growing demand and ensure reliable energy transportation ..read more