23 Feb Energy Price, news updates and expert commentary 23/02
(Oilandgaspress) The European oil and gas stocks index hit a record high on Monday, surpassing a previous record hit in 2007, helped in recent weeks by a rise in the price of oil. At 1450 in London the basket was up 1.5%. Oil and gas names have added 17% year-to-date versus a 6.5% rise for the pan-European STOXX 600 index. Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $66.27 | Down |
| Crude Oil (Brent) | USD/bbl | $71.43 | Down |
| Bonny Light 19/02/26 CBN | USD/bbl | $73.98 | — |
| Dubai | USD/bbl | $68.50 | Up |
| Natural Gas | USD/MMBtu | $2.99 | Down |
| Murban | USD/bbl | $71.33 | Down |
| OPEC basket 20/02/26 OPEC | USD/bbl | $70.11 | Up |
| At press time February 23, 2026 |
ConocoPhillips is reportedly considering the sale of certain assets in the Permian Basin, US, valued at approximately $2bn. The company, based in Houston, Texas, has engaged advisers to assist in the process and is seeking strategic investors and private equity firms as potential buyers, according to a Bloomberg News report citing anonymous sources.The assets, picked up over the years through deals with Concho Resources Inc. and Shell Plc, are expected to be sold. Related News
US President Donald Trump has said he will effectively immediately raise the global tariffs on countries from 10 to 15% a day after the Supreme Court ruled his sweeping tariffs exceeded executive authority. Trump said in a social media post on that he was making the decision “Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday,” by the US Supreme Court.
The court, in a 6–3 ruling on Friday, struck down the far-reaching tariffs Trump imposed under an emergency powers law, handing him a major setback on a signature economic policy.
“In order to protect our country, a president can actually charge more tariffs than I was charging… under the various tariff authorities,” he continued. Related News
In advance of announcing its full year results for the year to 31 December 2025 on 26 March 2026, Capricorn provides the following update on operations and trading performance, together with 2026 guidance. This information is unaudited and subject to further review. Corporate and Finance highlights
Financial performance for the year ended 31 December 2025:
Revenues of $119m; provisional entitlement sales volumes of 3.5mmboe (40% liquids), production costs of $39m ($5.4/boe) with an average oil price of $68.9/bbl and gas price of $3.0/mscf
Capex of $77m
Group net cash of $103m; comprising $133m cash and $30m debt
Net cash inflows of $81m from Egypt operations, post capex
Gross cash receipts in Egypt of $217m
Receivables of $86m before expected credit loss adjustments
Gross G&A of $24m, excluding non-cash charges, and inclusive of legacy and non-recurring project spend of $2m Related News
Baker Hughes Rig Count: International +14 to 1,079, U.S. unchanged at 551 Canada +2 to 224
U.S. Rig Count is unchanged from last week at 551 with oil rigs unchanged at 409, gas rigs unchanged at 133 and miscellaneous rigs unchanged at 9.
Canada Rig Count is up 2 from last week to 224 with oil rigs unchanged at 153, gas rigs up 2 to 71 and miscellaneous unchanged at 0.
International Rig Count is up 14 from last month to 1,079 with land rigs up 3 to 839, offshore up 11 to 231.
International Rig Count is down 20 rigs from last year’s count of 1,099, with land rigs down 7, offshore rigs down 13.
| Region | Period | Rig Count | Change |
| U.S.A | 20 February 2026 | 551 | — |
| Canada | 20 February 2026 | 224 | +2 |
| International | January 2026 | 1,079 | +14 |
| Baker Hughes |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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