Oil Prices Fall to Lowest Level in Weeks

Source: Associated Press, Chris Kahn (3/15/11)

"Investors worried about diminished demand for oil in Japan."

Oil prices fell sharply Tuesday on deepening fears about Japan's economy after its nuclear crisis worsened following a devastating earthquake and tsunami.

Dangerous levels of radiation have been reported leaking from a crippled nuclear plant in the northeastern region. The news comes as more than 10,000 people are thought to have died after the nation was hit Friday by the earthquake and tsunami.

Investors worried about diminished demand for oil and other products in Japan, the world's third-largest oil importer. However, Wall Street analysts have said they expect Japan eventually to increase imports of oil, coal and natural gas.

Royal Dutch Shell Plc (NYSE:RDS.A; NYSE:RDS.B) said Tuesday that it will send liquefied natural gas and fuel oil to Japan to help meet power shortages. Japan produces most of its energy from coal-fired power plants, but can also run generators on LNG and even crude oil. Shell says the refineries it operates in Japan were not damaged by the earthquake.

Benchmark West Texas Intermediate crude for April delivery dropped $2.70, or 2.7%, to $98.49 per barrel on the New York Mercantile Exchange after dipping below $97 a barrel earlier in the day.

Brent crude fell $2.84, or 2.5%, to $110.83 per barrel on the ICE Futures exchange.

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.