Investors are becoming increasingly positive of the condition of the oil market, say analysts.
NEW YORK (Bloomberg) -- Bob Ravnaas raised a paddle in a Houston auction house to secure his first block of mineral rights 19 years ago, when oil prices were swooning below $20/bbl.
A generation later, that same West Texas oilfield is still spinning off royalties, part of a mineral-rights empire amassed by Ravnaas that stretches across 20 states and delivers millions of dollars in cash payments. Kimbell Royalty Partners, where the former petroleum engineer is now chief executive officer, has stakes in 48,000 oil and natural-gas wells in some of the hottest U.S. shale patches. These days, it’s not alone...
Source: worldoil.com - By: Alex Nussbaum
Devon Energy announces record setting 6,000 boepd STACK well as permitting activity grows in the area.
Global demand accelerates but oil prices slide as traders focus on rising production numbers from June, denying fundamentals.
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