DOE: Oil and Gas Supplies Grew

Source: Associated Press (5/26/11)

"Crude supplies rose by 600,000 barrels to 370.9 million barrels."

Associated Press

The nation's crude oil and gasoline supplies increased last week as refinery capacity rose, the Energy Department said Wednesday.

Crude supplies rose by 600,000 barrels to 370.9 million barrels, the department's Energy Information Administration said. The total is 0.2%age point more than a week ago and 1.6% more than a year ago.

Analysts expected a 1.6 million-barrel decrease in oil supplies, according to Platts, the energy information arm of McGraw-Hill Cos.

Gasoline supplies rose 3.8 million barrels, or 1.8%, to 209.7 million barrels, the agency said. The total is about 5.4% less than year-ago levels. Analysts expected gasoline supplies to increase by 750,000 barrels.

Demand for gasoline over the four weeks that ended May 20 was 2.1% less than it was in the year-ago period, averaging nearly 9 million barrels a day.

The Energy Department said U.S. refineries ran at 86.3% of total capacity on average, which was an increase of 3.1%. Analysts had forecast refining capacity at 83.6%.

Supplies of distillate fuel, which include diesel and heating oil, declined by 2 million barrels, or 1.4%, to 141.1 million barrels. The total was 7.5% less than a year ago.

Analysts predicted distillate stocks would increase 500,000 barrels.

Benchmark crude rose 16 cents to $99.75 per barrel in morning trading on the New York Mercantile 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.