Biden Moratorium Overturned As Production Resumes on Federal Lands

Posted
Matthew Rigdon, Executive VP and COO

Almost immediately after taking office in 2021, President Biden imposed a moratorium on federal oil and gas lease sales. Thirteen states in total, including Louisiana, Texas and all but one state along the Gulf Coast, filed suit. The suits claim substantial loss of revenues for local government funding, loss of jobs for those states’ workers, and…

Oil Futures Drop Prices While USGOM Activity Continues

Posted
Matthew Rigdon, Executive VP and COO

From the recent peak in oil from $122/bbl on approximately June 8th to the price of $94/bbl on July 22nd, oil is down 22%. This is a rather dramatic change given the amount and short period of time. I recently discussed the potential of a recession and the impact it may have on oil demand and oil…