U.S. Crude Oil Production Heads Toward Record #OilmanNEWS 2017 November-December Alex Mills Contributors 

U.S. Crude Oil Production Heads Toward Record

Crude oil production in the U.S. continues to push higher approaching the mythical 10-million-barrels-per-day mark, a level that has never been achieved. The rise in production has resulted in a decline in the price of oil and gasoline. The Energy Information Administration (EIA) reported this week U.S. oil production reached 9.78 million barrels per day (b/d), and the American Petroleum... Read More
Gasoline, Crude Oil Prices Hold Firm #OilmanNEWS 2017 November-December Alex Mills Contributors 

Gasoline, Crude Oil Prices Hold Firm

Gasoline prices followed crude oil prices upward during the Thanksgiving weekend. Crude oil prices on the New York Mercantile Exchange closed at $58.02, and retail regular-grade gasoline averaged $2.57 cents per gallon. The Energy Information Administration (EIA) said gasoline increased 41 cents per gallon from the same time last year. “Although gasoline prices are higher than in both 2015 a...... Read More
Devon Energy Reports Year-To-Date Sales of Nearly $10 Billion #OilmanNEWS 2017 November-December Oklahoma 

Devon Energy Reports Year-To-Date Sales of Nearly $10 Billion

Oklahoma City-based Devon Energy Corp recently reported fairly strong third-quarter results for 2017, besting their midpoint estimate for hurricane-adjusted guidance. The firm reported net earnings of $228 million, or $0.43 cents per diluted share, for Q3 2017, compared to $993 million for the same time period in 2016. This amounts to a $1.2 billion year-to-date (YTD) profit for the company... Read More
Oil and gas industry future looks ‘attractive’ #OilmanNEWS 2017 November-December Alex Mills Contributors 

Oil and Gas Industry Future Looks ‘Attractive’

After two years of declining prices and reduced employment, the oil and gas industry in Texas and across the nation appears to be making a comeback. A recent report by Morgan Stanley stated: “The exploration and production (E&P) outlook is attractive.” “Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions... Read More
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