(Bloomberg) — Oil executives tempted by the prospect of the highest crude prices in seven years are showing all the signs of abandoning pledges to hold the line on drilling budgets, Citigroup Inc. said. U.S. shale explorers are poised to boost spending by almost 40% this year, based on comments and plans revealed during recent earnings present...

Tenaris plans to reactive its heat treatment and finishing lines at its Koppel, Penn., plant to streamline the flow of seamless product at its facilities in the northeast. The heat treatment line is part of the manufacturing process which gives pipe their required metallurgical properties for enhanced performance in oil and gas wells. The line,...

The 2022 Offshore Technology Conference announced the 2022 Distinguished Achievement Award recipients. The conference recognized Drew Michel​ for individual achievement, Shell’s Appomattox Project for institutional achievement, and Roland Moreau for the Heritage Award. Recipients will be honored during the OTC Distinguished Achievement Award...

(Bloomberg) — U.S. oil production will grow even more than the government previously expected as a scorching price rally drives producers to boost drilling.  Oil output will average 12.6 million barrels a day in 2023, an increase from its previous estimate of , according to Energy Information Administration data. The current annual a...

(Bloomberg) — Canadian light oil producer Crescent Point Energy Corp. is looking to sell a package of lands in Alberta and Saskatchewan that was producing 11,154 barrels of oil equivalent per day as of the fourth quarter of 2021. Crescent Point hired National Bank Financial to market the lands, according to documents obtained by Bloomberg News...