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Rig Counts

Hart Energy Unconventional Activity Tracker (Week of June 21, 2021)

While operators in the Rockies unconventional plays added to the U.S. rig count this past week, the Eagle Ford Shale lost 10 rigs. Meanwhile, the Permian Basin RRC Dist. 7C lost four rigs and Dist. 8 added five.

What’s Affecting Oil Prices This Week? (June 21, 2021)

Crude Oil

What’s Affecting Oil Prices This Week? (June 21, 2021)

$100 oil? Unlikely, according to Stratas Advisors. Here’s why the firm is predicting a more moderate increase in oil prices during the third quarter in its latest forecast.

SPM Oil & Gas - artificial lift

Artificial Lift

Artificial Lift: HP/HT Pollution Control

As operators seek to optimize their existing investments, advances in artificial lift technologies are becoming increasingly important. Today’s wells are deeper and longer than they’ve ever been—and in more extreme environments—pushing the limits of conventional artificial lift technologies.   

MarketsSee More

Global benchmark Brent crude oil rose above $75 a barrel before dropping back. (Source: Sodel Vladyslav/

Brent Pulls Back After Rising Above $75

Strong demand outlook has underpinned prices.

The demand for power has broken records in Texas during the recent heatwave. (Source: Hart Energy; Dervish45, Kengi, VitaminCo/

Texas Power Demand to Keep Breaking June Records in Heatwave

Grid operator urges consumers to keep conserving energy.

US Natural Gas Futures Hold Near 7-month High

Even with warmer weather on the horizon, Refinitiv projected average gas demand would hold around 89.9 Bcf/d this week and next as rising prices prompt power generators to burn more coal and less gas to keep air conditioners humming.

Texas Grid Asks Residents to Conserve Power as Heatwave Hits

The Texas grid operator says the peak demand could surpass 73,000 MW on June 14, which could strain the grid’s capacity to generate power for customers.

BusinessSee More

Former Rice Energy CEO Launches Second SPAC Focused on Energy Transition

Former Rice Energy CEO Launches Second SPAC Focused on Energy Transition

Rice Acquisition Corp. II, the latest Daniel Rice-led SPAC, recently filed for an IPO to raise $300 million targeting a transaction in the “broadly defined energy transition or sustainability arena.”

Social Media Boost Drives Torchlight Energy Shares Up as Much as 74%

Torchlight Energy was among the most discussed stock on trading-focused social media site Stocktwits, a platform commonly seen as a measure of interest from retail investors.

Devon Energy Sets Target to Eliminate Routine Flaring

Devon Energy said reducing flared volumes, in particular, will play a key component in the company’s broader emissions reduction strategy to achieve net-zero greenhouse gas emissions by 2050

Final Exxon Mobil AGM Tally Seals Activist Investor Win

The tally was released more than three weeks after a vote that gave tiny hedge fund Engine No. 1 a quarter of the seats on the Exxon Mobil board.

TechnologySee More

Schlumberger Takes Lead on Net-zero Ambition with Scope 3 Commitment

Schlumberger Takes Lead on Net-zero Ambition with Scope 3 Commitment

Schlumberger’s net-zero carbon emissions ambition will also address its customer emissions, which account for 75% of the energy service company’s baseline greenhouse-gas footprint.

TGS Launches 3D Seismic Imaging Program in US Gulf of Mexico

TGS, a global provider of energy data and intelligence, on June 21 revealed Sophies Resolve Refocus 3D, an OBC and NAZ imaging program in the U.S. Gulf of Mexico (GoM).

Kuwait Oil Company Selects Halliburton for Digital Transformation Projects

Projects expand collaboration across all Kuwait fields to increase production and recovery.

DNV Partnership to Develop Hydrogen Projects in Singapore

DNV and partner Keppel Offshore & Marine aim to explore safe implementation of potential new technologies, working jointly with relevant governmental agencies to promote the introduction of hydrogen as an energy source in the Singapore market.

Exploration & ProductionSee More

Oil and Gas Investor Play-by-play: Powder River Basin Promise

Oil and Gas Investor Play-by-play: Powder River Basin Promise

The stacked pay basin has tantalized oil and gas producers as technical advances started to tame high variability, costs and frustrations.


Norway Not Ready to Let Go of Oil, Gas in Push for Greener Energy

Europe’s second largest oil and gas producer will continue to hold regular licensing rounds, offering exploration acreage to energy firms, the government said.


Exxon Mobil Makes 20th Discovery Offshore Guyana

The company said June 9 the Longtail-3 well encountered 230 ft of net pay, but Koebi-1 was deemed non-commercial.

CCS-Talos-Gulf-of-Mexico-oil-refineries-Roschetzky Photography-Shutterstock

Talos Energy Jumps into Carbon Capture Storage with JV

The Gulf of Mexico is believed to have more than 30 gigatons of available CO2 storage, according to Talos.

TransactionsSee More

Earthstone Adds Eagle Ford to Consolidation Strategy with Acquisition

Earthstone Adds Eagle Ford to Consolidation Strategy with Acquisition

In the independent energy company’s latest deal, Earthstone Energy agreed to the acquisition of working interests in assets the company operates in the Eagle Ford Shale located from four separate sellers.

EIG-led Group Closes $12.4 Billion Deal to Buy Aramco Pipeline Stake

The acquisition comprised of a 49% equity stake in Aramco Oil Pipelines Co., a newly formed entity with rights to 25 years of tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network.

Brookfield Includes All-cash Option in Multibillion-dollar Offer for Inter Pipeline

Brookfield’s revision comes as the investment firm tries to beat a rival bid from Pembina Pipeline Corp., which has been recommended by Inter’s board.

Marketed: Williston, Powder River Basin Conventional Asset Package

A portfolio company of Fulcrum Energy Capital retained Eagle River Energy Advisors to divest operated and nonoperated assets in the Williston and Powder River basins of Montana, North Dakota and Wyoming.

Policy & RegulationsSee More

Oil and Gas Investor Energy Policy: Science and Reality

Oil and Gas Investor Energy Policy: Science and Reality

Let’s hope policy aligns ambitious energy and climate goals with science and the realities of the energy complex.

Biden Administration Reviewing Order to Resume Oil Lease Sales

U.S. Interior Secretary Deb Haaland reiterated that her department is still planning to release a comprehensive review of the country’s oil and gas leasing program by late summer.

Federal Judge Halts Biden’s Pause on Oil and Gas Leasing

The Interior Department said it would comply with the ruling by a federal judge in Louisiana, but did not say when oil and gas leasing on public lands might resume.

US Drops Sanctions on Former Iranian Officials

The oil market briefly plunged after being spooked by media reports suggesting sanctions were lifted on Iranian oil officials, showing the potential impact of additional Iranian barrels if a deal is struck and sanctions lifted.

MidstreamSee More

Tellurian Proposes New Louisiana Pipeline to Bypass ‘Constrained’ Pathway

Tellurian Proposes New Louisiana Pipeline to Bypass ‘Constrained’ Pathway

As part of the design, Tellurian is also proposing to deploy technology, which it said will reduce the pipeline’s CO₂ emissions by more than 99%.

Empire Midstream Acquires Gulf of Mexico Pipeline from Shell

The pipeline is the Auger 12-inch line which runs approximately 33 miles from the Garden Banks 128 Platform A to a downstream subsea tie-in into the Eugene Island Pipeline System.

Williams Signs Deepwater Export Agreement for Gulf of Mexico Field

Williams said it reached an export agreement with Beacon Offshore and its co-owner for the Shenandoah deepwater oil field through its Discovery infrastructure in the central Gulf of Mexico.

Enbridge Scores Key Win in Line 3 Pipeline Battle

Enbridge Scores Key Win in Line 3 Oil Pipeline Battle

Enbridge’s Line 5 pipeline, part of the same network as Line 3, remains mired in a legal dispute with the state of Michigan overs fears the line could leak into the Great Lakes.