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...Now the US produces almost 20mn b/d of petroleum, roughly on par with consumption. Imports from the Gulf have plummeted, and the US became a net oil exporter for the first time in 2019....
...Exxon confirmed talks were ongoing with Chevron and Hess and said the company “owe[d] it to our investors and partners to consider our pre-emption rights”....
...Exxon confirmed talks were ongoing with Chevron and Hess and said the company “owe[d] it to our investors and partners to consider our pre-emption rights”. Read more here...
...Six of these will produce more than 700,000 boe/d each — more than some Opec member countries....
...“We figured at some point over the next few years, we’d start to see a downturn [in gas use]....
...It produced 1.16mn b/d in the US in the quarter versus 895,000 b/d previously, boosted in part by its acquisition of PDC Energy....
...Output slipped in January before returning to around 105bn cu ft/d again in early February....
...Exports equivalent to 11.8bn cu ft/d in 2023 should rise to 12.4bn cu ft/d in 2024 and 14.4bn cu ft/d in 2025....
...Six companies will each produce more than 700,000 boe/d — more than some Opec member countries....
...The country pumped 13.3mn b/d of oil in November, the last month for which data is available from the Energy Information Administration, more than any country in history....
...EQT, which ranks as the top gas producer in the country, produced 5.4bn cu ft/d....
...(Myles McCormick) 2....
...About 10bn cu ft/d of LNG capacity is due to come online in the US over the next 36 months, according to consultancy Enverus....
...Here to explain is Myles McCormick. He covers energy for the FT. Hey, Myles. Myles McCormick Hey, great to be on. Marc Filippino So what’s going on here, Myles? Myles McCormick Yes....
...At new wells in the Permian, average oil production per drilling rig has increased to 1,319 b/d. A decade ago the figure was about 183 b/d....
...The figure was up from 12.96 b/d in July and surpassed the previous monthly record of 13mn b/d set in November 2019....
...Exxon forecasts oil production of 3.8mn oil-equivalent barrels a day in 2024, compared with 3.7mn b/d this year....
...Endeavor pumped 391,000 boe/d in the Permian in August, according to Rystad, leaving it neck and neck with Mewbourne for the title of the biggest US private player outside Alaska....
...Absorbing CrownRock’s 226,000 boe/d would solidify its position as the number two player in the basin after Pioneer combines with Exxon....
...Mark Lashier, Phillips 66 chief executive, said the company had “engaged in discussions” with Elliott and “welcome[d] their perspectives and the perspectives of other shareholders on our strategy and the...
...“We have, since the very beginning, stayed focused on what I’d say is the molecule side of the equation — in carbon capture and hydrogen and biofuels,” Exxon chief executive Darren Woods told analysts recently...
...Wood Mackenzie forecasts peak production of 1.5mn b/d of production by 2033 — more than that of many Opec countries....
...Five more projects will add another 9.7bn cf/d. Dozens other LNG projects have been proposed, most of them for them around the Texas-Louisiana border....
...In the meantime, let us know what you’d like to see more (or less) of in Energy Source. You can reach us at energy.source@ft.com....
...There’s a complacent cosiness to the whole thing but the acting is as blue-chip as you’d expect from this cast....
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