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March Oil & Gas News Roundup

In March, oil rises in volatile sessions amid banking fears, EnerCom announces their lineup of independent energy companies, North America loses 26 rigs, and Biden greenlights the controversial Alaska oil project. Continue reading our oil and gas news roundup to learn more about what’s happening in the industry this month.

Oil Rises in Volatile Session Amid Banking Fears

Crude settled higher following an open that saw futures drop to 15-month lows, chasing the session a day earlier, where crude futures and oil stocks were roiled alongside a turbulent day for financial markets driven by banking fears. Prices were further buttressed by calming indicators out of the banking sectors of US and Europe, when Credit Suisse received a lifeline up to $54 billion by the Swiss National Bank and US Treasury Secretary

For more information you can check out the full article here. 

EnerCom Announces Their Lineup of Independent Energy Companies

EnerCom, Inc. has published the preliminary presentation schedule and conference events for the EnerCom Dallas – The Energy Investment & ESG Conference + The Energy Venture Investment Summit, on April 18-19, 2023 at Hotel Crescent Court, Uptown Dallas.

EnerCom Dallas is an energy-focused investment conference that provides institutional investors the opportunity to hear investor presentations from the top independent producers, midstream and oilfield service companies and meet their management teams to discuss their plans to drive development, fund operations and return value to shareholders in 2023.

There is no cost to attend EnerCom Dallas + The Energy Venture Investment Summit at EnerCom Dallas for qualified investors. 

Investors are encouraged to register at www.enercomdallas.com.

North America Loses 26 Rigs

North America dropped 26 rigs week on week, according to Baker Hughes’ latest rotary rig count. The decrease was driven by Canada, which slashed 23 rigs week on week, the count showed. The U.S. dropped the remaining three rigs, the count outlined.

The total North America rig count now stands at 969, comprising 746 U.S. rigs and 223 Canada rigs, according to Baker Hughes’ count, which revealed that Canada’s total is made up of 139 oil rigs and 84 gas rigs. The total U.S. rig count is shown to comprise 590 oil rigs, 153 gas rigs, and three miscellaneous rigs

More information about Baker Hughes and their counting process click here. 

Biden greenlights controversial Alaska oil project

The Biden Administration approved the controversial Alaska oil project known as Willow after rumors surfaced last week that the Administration was set to approve it. The massive oil Willow Project covers three drill sites in the National Petroleum Reserve in an area that is estimated to hold up to 600 million barrels of oil.

The project has incited much controversy from climate activists and some of Biden’s supporters from the left, many of whom argue that the project is a major setback in fighting climate change, with the Interior Department’s estimate that the project could see 278 million metric tons over its 30-year lifespan.

For more on this new project check out the full article here. 

Reach Out to Tiger General

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