Us oil industry news

Here are some recent news updates from the US oil industry:

1. Oil Prices:

• West Texas Intermediate (WTI) crude oil prices have been trading around $60 per barrel, up from around $50 per barrel in January.
• Brent crude oil prices have been trading around $65 per barrel, up from around $55 per barrel in January.

2. Production:

• The US Energy Information Administration (EIA) reported that US crude oil production averaged 12.2 million barrels per day (mb/d) in February, up from 11.9 mb/d in January.
• The EIA also reported that US natural gas production averaged 93.6 billion cubic feet per day (Bcf/d) in February, up from 92.4 Bcf/d in January.

3. Drilling and Completion:

• The number of active drilling rigs in the US increased by 10 to 1,044 in the week ending March 19, according to Baker Hughes.
• The number of active completion crews in the US increased by 15 to 1,044 in the week ending March 19, according to Enverus.

4. Refining:

• The EIA reported that US refinery utilization rates averaged 85.4% in February, up from 84.1% in January.
• The EIA also reported that US gasoline inventories fell by 2.1 million barrels in the week ending March 19, while distillate fuel inventories fell by 1.4 million barrels.

5. Pipelines:

• The US Department of Transportation's Pipeline and Hazardous Materials Safety Administration (PHMSA) approved the construction of the Bayou Bridge Pipeline, a 162-mile pipeline that will transport crude oil from the Gulf Coast to the Midwest.
• The PHMSA also approved the construction of the Permian Highway Pipeline, a 430-mile pipeline that will transport crude oil from the Permian Basin to the Gulf Coast.

6. Mergers and Acquisitions:

• ExxonMobil announced that it will acquire a 25% stake in the Permian Basin's Midland Basin from BHP for $4.8 billion.
• Occidental Petroleum announced that it will acquire Anadarko Petroleum for $38 billion.

7. Environmental and Regulatory:

• The US Environmental Protection Agency (EPA) proposed new rules to reduce methane emissions from oil and gas operations.
• The US Department of the Interior announced that it will hold a lease sale for offshore oil and gas drilling in the Gulf of Mexico.

8. Technology:

• Schlumberger announced that it will acquire a 25% stake in the artificial intelligence company, C3.ai.
• Halliburton announced that it will acquire a 25% stake in the digital oilfield company, Landmark.

These are just a few of the recent news updates from the US oil industry. If you're looking for more information, I'd be happy to help!