Permian Basin Output, Continental Resources: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

PRODUCTION
Permian Output Expected to Hit Record in November - Oil output in the Permian Basin is forecast to rise by about 50,000 barrels per day (BBL/d) to a record 5.453 million BBL/d in November, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. U.S. crude oil output in major U.S. shale basins is due to rise by about 104,000 BBL/d to 9.105 million BBL/d in November, its highest since March 2020, the EIA projected. (Reuters)

CORPORATE
Continental Resources to Go Private - Continental Resources Incorporated (NYSE:CLR) (Oklahoma City, Oklahoma) said on Monday it had agreed to a higher offer from billionaire founder Harold Hamm to take the U.S. shale producer private at a valuation of about $27 billion. Hamm has offered $74.28 per share for the stake not owned by him and the Hamm family trust. (Reuters)

CRUDE OIL
Saudi Crude Oil Exports Rise in August - Saudi Arabia's crude oil exports rose for a third straight month in August to their highest in more than two years, data from the Joint Organisation Data Initiative (JODI) showed on Monday. Crude oil exports rose nearly 3% to 7.60 million BBL/d in August- the highest since April 2020 - from 7.38 million BBL/d in July. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).