News Feed – Oil & Gas News

  • Cassidy white paper responds to Democrats’ Green New Deal Resolution
    on February 16, 2019 at 12:03 am

    Natural gas already is reducing US greenhouse gas emissions more effectively than what congressional Democrats proposed in their Green New Deal Resolution, US Sen. Bill Cassidy (R-La.), who chairs the Energy and Natural Resources Committee’s Energy Subcommittee, said on Feb. 14. […]

  • Queensland grants license for Senex’s Atlas Project
    on February 15, 2019 at 11:58 pm

    Queensland has granted a petroleum facility license to Melbourne-based energy infrastructure company Jemena for the construction of a natural gas processing plant that will form part of the Atlas Pipeline project. The Atlas project involves the delivery of gas from 100 coal seam gas wells on acreage owned by Senex Energy Ltd., Brisbane, in the Surat basin of southeast Queensland near the townships of Wandoan and Miles specifically to the domestic market. […]

  • NOPEC sponsors target wrong source of market mischief
    on February 15, 2019 at 10:40 pm

    Once again, misinformed US lawmakers want to authorize antitrust litigation against the Organization of Petroleum Exporting Countries. &nbs […]

  • API: US oil industry broke several records in January
    on February 15, 2019 at 9:50 pm

    The US natural gas and oil industry broke several records in January, according to the latest Monthly Statistical Report from the American Petroleum Institute. US total petroleum demand, as measured by total domestic petroleum deliveries, was 20.7 million b/d in January, which was down 0.2% from December but up 1.1% compared with January 2018. This was the strongest petroleum demand for January since 2005. […]

  • Baker Hughes: US rig count gains 2 units to 1,051
    on February 15, 2019 at 8:08 pm

    The US drilling rig count is up 2 units to 1,051 rigs working for the week ended Feb. 15, according to Baker Hughes data. The count is also up 76 units from the 975 rigs working this time a year ago. With a 1-unit loss week-over-week, 1,028 rigs are drilling on land. The number of rigs drilling offshore gained 2 units to reach 21 rigs. Those units drilling in inland waters gained a single rig to reach 2 units for the week. […]

  • PHMSA issues final rule to strengthen oil train spill preparedness
    on February 15, 2019 at 7:49 pm

    The US Pipeline and Hazardous Materials Safety Administration, in coordination with the Federal Railroad Administration, issued a final rule requiring railroads to develop and submit comprehensive oil spill response plans covering route segments used by high hazard flammable trains. […]

  • Eni reports record oil production for 2018
    on February 15, 2019 at 7:24 pm

    Eni SPA said it achieved record production of 1.85 million b/d during 2018, up by 2.5% from 2017, while its proved reserves replacement ratio again rose above 100% for a 3-year average of 131%, the company said in an earnings statement. […]

  • Williams, Targa plan projects to link Conway-Mont Belvieu NGL markets
    on February 15, 2019 at 7:20 pm

    Williams Cos. and Targa Resources have entered into agreements to expand key systems that will link the Conway, Kan., and Mont Belvieu, Tex., NGL markets. As part of the agreements, Williams will build the 188-mile Bluestem NGL pipeline from its Conway fractionator and the southern terminus of the Overland Pass Pipeline to an interconnect with Targa’s Grand Prix NGL pipeline in Kingfisher County, Okla., while Targa will build a 110-mile extension of Grand Prix from southern Oklahoma into the STACK region of central Oklahoma where it will connect with the Bluestem pipeline. […]

  • NAPE: Croatia opens licensing round in Dinarides onshore area
    on February 15, 2019 at 5:41 pm

    Croatia has opened a licensing round for oil and gas exploration in its central and southern regions with the bid deadline being Sept. 10. Licenses are tentatively scheduled to be announced in December, a spokesman with the Croatia Hydrocarbon Agency (CHA) said. CHA Pres. Marijan Krpan told the North American Prospect Expo in Houston on Feb. 14 that Croatia recently enacted a hydrocarbon law to attract investors and ensure what he calls a smoother transition from exploration into production. […]

  • MARKET WATCH: Crude oil gains while US-China trade talks continue
    on February 15, 2019 at 5:18 pm

    Light, sweet crude oil prices gained for a third consecutive trading session on the New York market Feb. 14, settling above $54/bbl. Meanwhile, the gap between Brent and US futures widened with Brent settling at about a $10/bbl premium above light, sweet crude. Analysts said oil prices also climbed this week because of expectations that US President Donald Trump would extend a March deadline for implementing additional US tariffs on Chinese goods. Trade talks are continuing. […]

  • Vintage Energy acquires onshore Bonaparte gas permit
    on February 15, 2019 at 5:09 pm

    Vintage Energy has acquired 100% and operatorship of onshore Bonaparte basin permit EP 126 in the Northern Territory from Beach Energy. The 6,700-sq km permit stretches east from the border of Western Australia and Northern Territory to the Victoria River and contains the Cullen-1 wildcat drilled by Beach in 2014 that encountered strong natural gas shows in a thick fractured carbonate reservoir. […]

  • Sasol starts up first unit at Louisiana petchem complex
    on February 14, 2019 at 11:33 pm

    Sasol has commissioned the first of seven production units scheduled to come online as part of its long-planned Lake Charles Chemicals Project, an integrated ethane cracker and downstream derivatives complex under construction in Westlake, La., near Lake Charles. Originally scheduled for full startup in December 2018, the complex’s linear low-density polyethylene unit produced first product in January before achieving “beneficial” operations on Feb. 13. […]

  • BSEE issues report of investigation into Petrobras drillship fatality
    on February 14, 2019 at 7:50 pm

    A lack of training, familiarity, and experience with the drill floor equipment and drillship layout could have contributed to the Dec. 2, 2017, accident that killed a floor hand aboard the Petrobras 10000 drillship working in the Gulf of Mexico’s Walker Ridge 469 area, the US Bureau of Safety and Environmental Enforcement said in a Feb. 13 report of its investigation into the incident. […]

  • Chevron signs LNG supply agreement with GS Caltex
    on February 14, 2019 at 7:37 pm

    Chevron USA Inc. has entered into a long-term LNG supply agreement with GS Caltex Corp. that calls for the delivery of LNG to South Korea from Chevron’s global supply portfolio. […]

  • Joint Niger Delta gas development proceeds
    on February 14, 2019 at 7:32 pm

    A joint venture led by Shell Petroleum Development Co. has made its final investment decision for the Assa North/Ohaji South natural gas project in Nigeria’s northeastern Niger Delta. Nigerian National Petroleum Corp. expects the fields to produce 600 MMscfd of gas and says a doubling of output is possible. It estimates the resource at 4.3 tcf of gas and 215 million bbl of condensate. […]

  • Rystad Energy: Three trends will sway shale growth in 2019
    on February 14, 2019 at 7:24 pm

    With US shale activity in 2019 beset by uncertainty, Rystad Energy identifies three trends for US light tight oil production that will have a profound impact on the evolution of the industry in 2019 and 2020. […]

  • WoodMac: US independents must focus on returns in 2019
    on February 14, 2019 at 7:03 pm

    US Lower 48 exploration and production companies are under pressure from investors demanding greater capital discipline, positive free cash flow, and increasing returns. The Lower 48’s independents, who traditionally pursued growth at all costs, must now rein in their impulses and focus on delivering returns to their shareholders. […]

  • BLM hears fresh concerns at ANWR coastal plain DEIS public meetings
    on February 14, 2019 at 6:13 pm

    Most of the concerns heard by the US Bureau of Land Management during eight public meetings about the draft environmental impact statement (DEIS) for proposed oil and gas activity on the Arctic National Wildlife Refuge coastal plain have involved possible impacts on the porcupine caribou herd there, a US Department of the Interior official said during the final public meeting in Washington on Feb. 13. […]

  • Aramco, Total form Saudi retail venture
    on February 14, 2019 at 5:58 pm

    Saudi Aramco and Total SA have signed an agreement to form a 50-50 joint venture that will invest $1 billion to develop a network of fuel and retail services in Saudi Arabia. Total will be the first major international oil company to invest in the kingdom’s fuel retail network. […]

  • MARKET WATCH: NYMEX, Brent crude oil prices climb
    on February 14, 2019 at 5:54 pm

    Light, sweet crude oil for April delivery rose to settle above $54/bbl on the New York market Feb. 13 while Brent for April climbed more than $1/bbl to settle above $63/bbl in London. A weekly US inventory report showed higher oil inventories, but US oil production held unchanged. While many analysts have closely monitored US-China trade talks, Standard Chartered analysts suggest another risk facing world oil demand is Germany. […]

  • Canada, no haven for pipeline work, mulls freeze-out
    on February 14, 2019 at 2:43 pm

    The Canadian government is considering legislation that would turn environmental assessment into an endless legal gauntlet for energy projects. &nbs […]

  • PetroQuest Energy emerges from bankruptcy
    on February 13, 2019 at 11:00 pm

    PetroQuest Energy emerged from bankruptcy after meeting conditions of its Chapter 11 plan of reorganization, which was confirmed by the US Bankruptcy Court for the Southern District of Texas on Jan. 31. Through the process, the company eliminated $295 million in debt and preferred equity obligations. […]

  • IEA: Crude oil quality matters amid lower supply
    on February 13, 2019 at 10:01 pm

    Global supply fell 1.4 million b/d to 99.7 million b/d in January, according to data from the International Energy Agency’s latest Oil Market Report. The decline reflected factors including sanctions against Iran, a supply fall in the Organization of Petroleum Exporting Countries of 930,000 b/d in January, US sanctions against Venezuela’s state oil company Petroleos de Venezuela (PDVSA), and Alberta supply cuts. […]

  • BOEM plans Gulf of Mexico lease sale
    on February 13, 2019 at 7:53 pm

    The US Bureau of Ocean Energy Management plans to hold a Gulf of Mexico-wide oil and gas lease sale in March that will include all available unleased areas in federal waters covering about 78 million acres. Lease Sale 252 will include about 14,696 unleased blocks in a range of 3-231 miles offshore across the gulf’s western, central, and eastern planning areas in 9-11,115 ft of water. […]

  • Canada due electric-vehicle charge network
    on February 13, 2019 at 7:46 pm

    A Suncor Energy Inc. subsidiary is building a network of fast-charging stations for electric vehicles across Canada. More than 50 charging facilities will be installed at Petro-Canada service stations along the Trans-Canada Highway between Victoria, BC, and St. John’s, Newf. […]

  • BP lets rig contract for Ironbark wildcat off Western Australia
    on February 13, 2019 at 7:16 pm

    BP Developments Australia, acting operator of a joint venture in Western Australian offshore exploration permit WA-359-P, has signed a contract for a rig to drill the Ironbark-1 wildcat well. Diamond Offshore Drilling’s Ocean Apex semisubmersible drilling rig will begin the program during next year’s second half. Ironbark-1 is expected to drill to a depth of 5,500 m. […]

  • Sonatrach lets contract for southwest Algerian gas plants
    on February 13, 2019 at 6:05 pm

    State-owned Sonatrach has let a contract to Larsen & Toubro Ltd. subsidiary L&T Hydrocarbon Engineering (LTHE) to provide engineering, procurement, construction, and commissioning services for three central gas processing plants near to each other in southwest Algeria’s Adrar Province. […]

  • HEP, NextEra Energy form Eagle Ford gas transportation combine
    on February 13, 2019 at 5:55 pm

    Howard Energy Partners (HEP) and NextEra Energy Partners will jointly develop additional natural gas transportation projects in the Eagle Ford shale region of South Texas. […]

  • EIA: US crude inventories up 3.6 million bbl
    on February 13, 2019 at 5:35 pm

    US crude oil inventories for the week ended Feb. 8, excluding the Strategic Petroleum Reserve, increased by 3.6 million bbl from the previous week, data from the US Energy Information Administration showed. […]

  • BHP approves Atlantis Phase 3, Trion field appraisal drilling
    on February 13, 2019 at 5:18 pm

    BHP Group’s board approved $696 million in funding to develop the Atlantis Phase 3 expansion in the US Gulf of Mexico and $256 million in funding to drill an additional appraisal well in Trion field offshore Mexico. BHP’s Atlantis decision came after Atlantis operator BP PLC approved the Atlantis Phase 3 in January. […]

  • MARKET WATCH: Crude oil benchmark prices recover on OPEC report
    on February 13, 2019 at 5:09 pm

    Brent crude for April delivery rose by nearly $1/bbl on the London market Feb. 12 following a report that the Organization of Petroleum Exporting Countries reduced oil production in January by 797,000 b/d compared with December 2018. […]

  • EPA: US greenhouse gas emissions fell 0.3% in 2017 from year before
    on February 12, 2019 at 10:23 pm

    US gross greenhouse gas (GHG) emissions totaling 6,472 million tonnes of carbon dioxide equivalent (tCO2e) in 2017 came in 21.1 million tCO2e, or 0.3% less, than 2016’s 6,493 million tCO2e, the US Environmental Protection Agency reported. […]

  • EIA: New funding of US E&P companies lowest in 5 years
    on February 12, 2019 at 10:01 pm

    In 2018, publicly traded US oil and gas exploration and production companies issued the lowest amount of new funding since at least 2013, raising $14 billion in debt and $2 billion from public equity markets, according to an analysis by the US Energy Information Administration. […]

  • Harbert named as next AGA president
    on February 12, 2019 at 9:44 pm

    Karen A. Harbert, who has led the US Chamber of Commerce’s energy program for the past decade, will become the American Gas Association’s next president on Apr. 1. She will succeed David K. McCurdy, who plans to retire on Feb. 28. Harbert will be the first woman to lead AGA’s staff. […]

  • EIA revised down its 2020 oil price forecasts
    on February 12, 2019 at 7:40 pm

    In its most recent Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent and West Texas Intermediate crude oil spot prices in 2020 will average $62/bbl and $58/bbl, respectively. Both prices are $3/bbl lower than EIA’s STEO from January. The lower price reflects the expectation of looser global oil market balances in 2020 compared with last month’s outlook. […]

  • Sentinel to develop Texas GulfLink crude oil export terminal
    on February 12, 2019 at 7:15 pm

    Sentinel Midstream, Dallas, has reported plans to development Texas GulfLink, a proposed deepwater crude oil export terminal near Freeport, Tex. The completed facility will be capable of fully loading very large crude carrier vessels. […]

  • Stockholders approve Eclipse, Blue Ridge Mountain combine
    on February 12, 2019 at 6:41 pm

    Eclipse Resources Corp., State College, Pa., and Blue Ridge Mountain Resources Inc., Irving, Tex., moved closer to completing the all-stock deal to combine as the boards and stockholders from each company granted their respective approvals. […]

  • Shareholders approve Encana, Newfield merger
    on February 12, 2019 at 6:29 pm

    Encana Corp. and Newfield Exploration Co. expect to close on a deal to combine on Feb. 13 following approval of necessary proposals at the special shareholder meetings held Feb. 12. […]

  • APLNG combine lets Surat gas gathering pipeline contract
    on February 12, 2019 at 6:21 pm

    The Origin Energy-ConocoPhillips combine Australia Pacific LNG has let a package of gas gathering and infrastructure works worth $90 million (Aus.) to CPB Contractors—the Australasian construction company of Sydney-based engineering firm CIMIC Group—for the Surat basin of southeast Queensland. […]

  • DOJ makes settlement with Antero about Marcellus fracturing
    on February 12, 2019 at 6:12 pm

    Antero Resources Corp. has agreed to pay $3.15 million for Clean Water Act violations at 32 sites in three West Virginia counties affected by Antero’s Marcellus shale natural gas operations, the US Department of Justice reported. DOJ, the US Environmental Protection Agency, and the West Virginia Department of Environmental Protection said the West Virginia counties involved are Harrison, Doddridge, and Tyler. […]

  • Equinor-operated well comes up dry in Barents Sea
    on February 12, 2019 at 5:51 pm

    Equinor Energy has plugged exploration well 7132/2-1, which was targeting the Gjokasenin prospect in production license 857 in the southern part of the Barents Sea. The well, which was dry, was drilled to a vertical depth of 852 m subsea with Seadrill’s West Hercules semisubmersible mobile drilling facility about 175 km north of Vardo in 293 m of water. […]

  • MARKET WATCH: Crude oil benchmark prices decline
    on February 12, 2019 at 4:57 pm

    Light, sweet crude oil prices on the New York and London markets declined modestly Feb 11 pending release of a monthly production report by the Organization of Petroleum Exporting Countries. On Feb. 12, OPEC reported it reduced oil production in January by 797,000 b/d compared with December 2018. The cartel’s January production averaged 30.81 million b/d, OPEC’s secondary sources indicated. […]

  • Meridian Energy plots grassroots refinery for Permian basin
    on February 11, 2019 at 10:31 pm

    Meridian Energy Group let a contract to Winkler Cos. to provide site control for a full-conversion refinery in Winkler County, Tex., in the heart of the Permian basin. The Permian basin refinery will have a throughput capacity of about 60,000 b/d and be modeled after Meridian’s grassroots 49,500-b/sd high-conversion Davis refinery currently under construction in Billings County in the heart of southwestern North Dakota’s Bakken shale region. […]

  • Rystad Energy: ExxonMobil leads pack of top explorers in 2018
    on February 11, 2019 at 10:25 pm

    Driven by its large investment in Guyana, ExxonMobil Corp. is leader of the pack among the top oil and gas explorers of 2018, according to Rystad Energy’s annual exploration review. […]

  • ExxonMobil, Qatar Petroleum authorize Golden Pass LNG exports
    on February 11, 2019 at 10:23 pm

    ExxonMobil Corp. and partner Qatar Petroleum have made a final investment decision to develop the Golden Pass LNG export project in Sabine Pass, Tex. Construction will begin in this year’s first quarter with the plant expected to begin operations in 2024. […]

  • Federal court vacates NYSDEC’s pipeline certificate denial
    on February 11, 2019 at 10:20 pm

    A federal appeals court vacated the New York State Department of Environmental Conservation’s (NYSDEC) denial of a water-quality certificate to the proposed Northern Access natural gas pipeline project on Feb. 5. […]

  • IHS Markit: Sanctions to push Venezuelan output below 1 million b/d
    on February 11, 2019 at 10:18 pm

    New US sanctions against Venezuela’s national oil company Petroleos de Venezuela SA (PDVSA) could push the South American country’s crude oil production to a 700,000-900,000 b/d range for 2019, IHS Markit said in a Jan. 30 report. […]

  • GEI: US energy security improved for sixth straight year
    on February 11, 2019 at 10:16 pm

    US energy security improved for a sixth consecutive year in 2017 and neared a modern-day best, the US Chamber of Commerce’s Global Energy Institute (GEI) reported as it released its 2018 Index of US Energy Security Risk. […]

  • Trump calls for bipartisan cooperation to achieve America’s destiny
    on February 11, 2019 at 10:15 pm

    US President Donald Trump called on the 116th Congress to reject the politics of revenge and retribution for compromise and the common good in his 2019 State of the Union address. […]

  • Trade, public groups seek prompt approval of pipeline safety update
    on February 11, 2019 at 10:15 pm

    Six public and trade associations have asked US Transportation Sec. Elaine Chao “to act expeditiously” to approve revisions to the US Pipeline and Hazardous Materials Safety Administration’s federal natural gas pipeline safety regulations. “PHMSA’s rule will advance gas transmission pipeline safety by defining specific requirements to facilitate the use of 21st-century pipeline safety technologies and processes,” the groups said in their Feb. 7 letter. […]

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