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RPSEA and SEAM Sign MOU to Partner on Future Cutting-Edge Energy Research

Houston – The Research Partnership to Secure Energy for America (RPSEA) and the SEG Advanced Modeling Corporation (SEAM), a subsidiary of the Society of Exploration Geophysicists (SEG), have signed a Memorandum of Understanding (MOU) to combine resources and jointly pursue ...

RPSEA Provides Department of Energy Benefits of 10 Year Oil & Gas Research Program

Houston — More than 170 projects managed by the Research Partnership to Secure Energy for America (RPSEA) generated over $150 billion in direct economic value from jobs, royalties and revenue, and yielded over $40 billion in environmental damage mitigation, the ...

OPEC and Non-OPEC Ministers to Meet

OPEC and non-OPEC representatives will meet on December 10, in Moscow to finalize the agreement to limit OPEC members to an output quota. OPEC members agreed last week to reduce output by 1.2 million barrels per day starting in January ...

Last Week the Best Oil Rally in Years

The rise is oil prices last week was the best price rally in over 5 years. By Friday oil prices had steadied to $51 per barrel. The price rally is attribution to OPEC’s Nov 30 agreement to limit production to ...

Oil Price Impact on U.S. Economy

The OPEC deal on Nov 30, caused an immediate rise in oil prices, but the long-term impact on the U.S. economy is expected to be more gradual. OPEC agreed to cut output by 1.2 million barrels per day. Oil prices ...

OPEC in Turmoil

OPEC members have widely differing opinions on oil prices and prior to the planned Nov 30th meeting, representatives have failed to come to any agreement. Iran and Iraq talked for nine hours insisting on increases in production numbers. Venezuela’s and ...

OPEC Deal Sends Oil to $50

On Wednesday, the Organization of Petroleum Exporting Countries (OPEC) reached an agreement to cut oil output. The historic decision to cut oil output, the first since 2008, since the price of oil soaring. The decision signals OPEC’s return to managing ...

Oil Falls 4% on OPEC Uncertainty

On Friday, Nov 25 U.S. oil prices fell $1.90 to $46.06 per barrels. The decline is a response to the market’s uncertainty over OPEC negations. Saudi Arabia announced that they would not attend scheduled talks on Nov 28 with non-OPEC ...

5.0 Earthquake Hits Cushing, OK Nov 6

A magnitude earthquake hit Cushing, OK on Sunday night. Minor damage occurred in the downtown area. Two operators of the oil storage facility in Cushing reported no damage to storage facilities and pipelines from the earthquake. The numerous earthquakes in ...

Rig Recovery into 6th Month

The oil rig count in the U. S. increased by nine last week, making it the 20th week in the last 23 weeks to show an increased rig count. Baker Hughes reports the active rigs in the U.S. now stands ...