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May Oil & Gas News Roundup

A lot is happening in the Oil & Gas industry in the month of May. Continue reading our oil and gas news roundup to learn more about what’s happening in the industry this month.

EnerCom Dallas 

EnerCom, Inc. has published the presentation schedule and conference activities in detail on the EnerCom Dallas website. Strive Asset Management and the Federal Reserve Bank of Dallas have been recently added to the lineup of presentations.

EnerCom Dallas, which will take place August 13-16, 2023 in Uptown 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. 

Attendees can register to attend the investment conference at no cost and can view the presentation and event schedule on the EnerCom Dallas Website at www.enercomdallas.com

USA Oil and Gas Supported Nearly 11MM Jobs

PwC estimates that the U.S. oil and natural gas industry’s operations directly or indirectly supported 9.4 million full and part-time jobs in the national economy in 2021. Additionally, the industry’s capital investment supported an additional 1.4 million jobs in the national economy. Combining the operational and capital investment impacts, the oil and natural gas industry’s total employment impact on the national economy amounted to 10.8 million full and part time jobs in 2021, accounting for 5.4 percent of total U.S. employment.

To read PwC’s full study check out rigzone.com.

Outages Hit Canada Oil Supply as Alberta Wildfires Persist

The wildfire situation in Canada’s top energy-producing province of Alberta remains volatile, with more than 2,800 firefighters from Canada and the US are on the ground, dealing with hot, dry and gusty conditions. These disruptions to oil and gas production now have buyers facing supply cuts. 

In all, the equivalent of about 240,000 barrels of daily oil and gas production — and perhaps more than 300,000 barrels — have been shut due to the fires. A total of 86 wildfires were burning in Alberta, now down by 7, while the number of out-of-control blazes remains steady at 26. 

For constant updates on the status of these wildfires click here.

NuVista Energy Ltd. provides update on wildfire impact in Grande Prairie operations

As previously advised, several NuVista Energy fields were shut down on May 5 as a precautionary measure to ensure the protection of their people, the public, and assets in the vicinity of the wildfires. In addition, their third party midstream partners have had to do the same, with the collective status changing frequently.

The temporary production impact has averaged approximately 35,000 Boe/d from May 5 – 22. With more favorable winds and weather, they were able to restart most operations with daily production currently increased to approximately 65,000 Boe/d.

For more information on when NuVista Energy fields will be at full capacity click here.

Reach Out to Tiger General

We hope you found our May oil and gas news roundup interesting. If you need a new piece of equipment, fill out the Tiger General Truck Inquiry Form today!