U.S. commercial inventories fell by nearly 1 MMb/d (6.87 MMbbl), last week, marking the largest drop in nine weeks, largely due to a 5.7 MMbbl pull from PADD 3 stocks. This decline could be attributed, at least in part, to a reduction in net imports, which fell by 850 Mb/d to 2 MMb/d.

The U.S. injected 13 Bcf of natural gas into storage during the week ended August 30, according to data released by the Energy Information Administration (EIA) on September 5. This was much lower than predictions in the Bloomberg survey of 10 analysts.

As reported by the Alberta Energy Regulator (AER), Alberta’s oil production was 4.0 MMb/d in July 2024, a record for the month (rightmost stacked bars in chart below), 105 Mb/d higher than a year ago and the first time since March that output was at or better than 4 MMb/d.

Crescent Energy has entered into a definitive agreement to acquire assets from an unnamed private Eagle Ford operator. This acquisition (dark gray areas inside dashed red box in map below) will complement Crescent’s existing Eagle Ford footprint (blue areas) and add low-decline oil production.

The Department of Energy (DOE) authorized New Fortress Energy's (NFE) Altimira LNG project to export up to 0.4 bcf/d to countries that do not have a Free Trade Agreement (FTA) with the United States on 31 Aug.