ConocoPhillips on Q2 Earnings Dip: Keep Calm and Drill On

💰Time is money, and our goal is to help you save yours.

📰 Wake up every day to the top news stories, yesterday’s posted price Bulletins, Nymex and Henry Hub strips.

📊We may even sprinkle in some proprietary data here and there (shh)!

⛽All you need to do is be you and let us handle the rest. 

🆓For those of you who refer friends (3 to be exact), you will also receive our Premium Monthly Newsletter – free of charge.

😃If you’re a Barrel Hub subscriber, then it’s good to see you! 

🤝If not, no worries, there’s still time to fix that. 

🆒If you’re curious, click here… we love to talk about ourselves.

💸Now, on to the good stuff!

Daily Data Dump

The good, the bad, and the ugly of Texas oil production.

Best of the Best 🏆️

Every week, we sift through our proprietary data to find the best performers in Texas.

Never Quit 😢

Similarly, we find the oil producers who need a little help (i.e. call Barrel Hub).

If you’re wondering how we get this information, we’re under strict orders from OPEC not to disclose that (but if you want to know you can go here).

Daily Bulletin

Lone Star Stories

Heat Turns Up on Oil Prices: Ukraine, OPEC Cuts and Volatile Forecasts

Crude oil prices rose following an attack on Russia’s critical oil export hub, Novorossiysk, by Ukraine and continued production cuts by Saudi Arabia and Russia. Experts predict volatility in oil prices due to a dynamic of insufficient supply relative to demand, with the likelihood of prices hitting $90 per barrel at most this quarter.

ConocoPhillips on Q2 Earnings Dip: Keep Calm and Drill On

ConocoPhillips, despite a dip in net income due to weakened oil and gas prices, stays bullish, planning to sustain record production throughout 2023. The company also continues to invest heavily in operations and anticipates higher production than previous forecasts, promising an optimistic long-term outlook for the sector.

Reader Question of the Day

How is waste heat from oil refining and extraction processes recovered and utilized?

Waste heat recovery in oil refining and extraction is crucial for energy efficiency. It often uses Heat Recovery Steam Generators (HRSG) to capture waste heat from flue gas to generate steam, which can be used elsewhere in the process or for electricity generation.

Another common practice is using waste heat to pre-heat crude oil or other feedstocks entering the refining process, reducing the overall energy required. Combined Heat and Power (CHP) systems, or cogeneration, also recover waste heat from electricity generation for use in other processes. The feasibility of these strategies depends on various factors, including operating conditions and economic viability.

Sources 1