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Oil and natural gas companies are expected to sign more than $50 billion worth of deals in the second half of 2018, marking a comeback from just $8.7 billion in the second quarter of the year, according to a report from Drillinginfo. The new wave of mergers and acquisitions will likely be led by BHP Billiton's sale of its US shale and gas business, valued at $10 billion.

India could become a major destination for US crude as the US-China trade war will likely force Chinese refiners to reduce their dependence on US oil, according to Morningstar Director of Research for Commodities and Energy Sandy Fielden. US crude exports to India reached 4.7 million barrels in May.

US shale supply could be strong for a century, says ConocoPhillips CEO Ryan Lance, with IHS Markit predicting 60% production growth during the next two decades. "What the US has done for the world with shale gas is given another form of affordable, competitive energy that can be relied upon," said Cheniere Energy CEO Jack Fusco.

An index of leading public oilfield service firms declined by 8.3% in the most recent month ending Friday amid concerns about Permian Basin bottlenecks and margins. "You have these takeaway capacity issues and companies are renegotiating their contracts saying, 'I might not need that extra frack spread,'" Moody's analyst Sajjad Alam said.

In recent years the upstream sector has widely embraced data analytics and automation as the key to process optimization and cost control for drilling, completion, and production operations. In this podcast we discuss how poor quality data is slowing this process and could undercut the value of analytics and automation.

The number of rigs drilling for oil rose by one to over 860 last week, but a decline of four natural gas rigs erased that gain, according to Baker Hughes. The Permian Basin shed four rigs, while the Eagle Ford Shale added two units.

Infrastructure bottlenecks in the Permian Basin are weighing hard on drillers and investors alike, causing an energy stock sell-off that has slashed the market valuations of eight of the top Permian explorers by a combined $15.6 billion. However, the low crude prices that result from the transportation constraints work in favor of US refiners such as Delek US Holdings, which sources about 78% of its crude from the Permian.

U.S. energy companies added oil rigs for a third week in a row even though crude prices have declined about 8 percent over the past three weeks. Drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. RIG-OL-USA-BHI That was the ninth time drillers added rigs in the past 10 weeks. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 741 rigs were active as energy companies have been ramping up production in tandem with OPEC’s efforts to cut global output in a bid to take advantage of rising prices. U.S. crude futures were above $65 a barrel on Friday after earlier ...