U.S. Rig Count is down 7 rigs from last week to 443, with oil rigs down 8 to 354, and gas rigs up 1 to 89. Canadian Rig Count is down 8 rigs from last week to 41, with oil rigs down 3 to 8, and gas rigs down 5 to 33.

Poorly conceived policies could restrict development of abundant domestic natural gas resources and deny the US energy security, economic, and geopolitical opportunities.

Oil at $35 a barrel is neither too high nor too low but just right to make shares of U.S. explorers worth buying, according to Goldman Sachs Group Inc.

The cumulative effect suggests that for U.S. growth over the next three years, there's no difference between oil at $30 or $70 per barrel. How the trade balance responds to swings in crude will dictate which path is more desirable.

Halliburton Company (NYSE:HAL) and Baker Hughes Incorporated (NYSE:BHI) today announced that the companies intend to vigorously contest the U.S. Department of Justice's (DOJ) effort to block their pending merger. The companies believe that the DOJ has reached the wrong conclusion in its assessment of the transaction and that its action is counterproductive, especially in the context of the challenges the U.S. and global energy industry are currently experiencing.

Year-to-date, the goods and services deficit increased $10.8 billion, or 13.1 percent, from the same period in 2015. Exports decreased $20.5 billion or 5.5 percent. Imports decreased $9.7 billion or 2.1 percent.

Mexico's proven oil and gas reserves dropped 21.3 percent in 2015, the oil regulator said on Thursday, as the state-run oil company, Pemex, cut back on investment because of plunging crude prices.

U.S. Rig Count is down 14 rigs from last week to 450, with oil rigs down 10 to 362, and gas rigs down 4 to 88. Canadian Rig Count is down 6 rigs from last week to 49, with oil rigs unchanged at 11, and gas rigs down 6 to 38.

NEO - The Koch Brothers emerged stronger than ever, along with a slew of smaller oil tycoons, who lack the kind of longstanding and entrenched influence wielded by the Rockefeller dynasty.

The drilling cost per foot, based on total depth, and the completion cost per foot, based on lateral length, are both projected to maintain these lower cost trends through 2018. Sustained lower upstream costs may affect near-term oil and natural gas markets, and ultimately, the prices of these fuels.

U.S. crude production is forecast to drop from 9.4 million barrels per day in 2015 to 8.7 million bpd in 2016 and 8.2 million bpd in 2017.

U.S. crude oil production from the Lower 48 states from new wells (drilled since the start of 2014) made up 48% of total U.S. crude oil production in 2015, up from 22% in 2007. Production from new wells has grown as advances in horizontal drilling and completion techniques led to growth in oil production from low-permeability tight reservoirs. In 2015, production from tight formations—which include, but are not limited to, shale plays—accounted for more than 4 million barrels per day (b/d), or 50% of total U.S. oil production.

Europe’s leaders have long been hoping that U.S. shale gas would help the bloc reduce its reliance on gas from Russia, which provides around a third of the region’s supplies. The ethane from Ineos’s shipment won’t be a substitute for Russian gas, which is mostly methane, but it will help to lower prices in the European market, said Karen Sund, partner at Norway-based Sund Energy consultancy.

Federal lawyers on Tuesday formally asked a judge in New Orleans to approve a record-breaking $20 billion-plus settlement agreement announced last July by the Department of Justice and five Gulf Coast states to resolve years of legal fighting about the 2010 Gulf oil spill.

U.S. Rig Count is down 12 rigs from last week to 464, with oil rigs down 15 to 372, and gas rigs up 3 to 92. Canadian Rig Count is down 14 rigs from last week to 55, with oil rigs down 1 to 11, and gas rigs down 13 to 44.