A deep dive into the nation’s oil and gas reserves and production recently was undertaken by Ernst & Young LLP, looking at reserve disclosure information from 2014 through 2018. That period ranges from the triple-digit prices of early 2014 through the crash to near $30 a barrel in early 2016 and the price recovery since […]
U.S. natural gas production continued to increase in August, setting a new daily production record of 92.8 billion cubic feet per day (Bcf/d) on August 19, 2019, according to estimates from IHS Markit. Natural gas production also set a new monthly record in August, averaging more than 91 Bcf/d for the first time. In the […]Read more "U.S. natural gas production reaches a new record despite low prices – Today in Energy – U.S. Energy Information Administration (EIA)"
Snow depths on Alaska’s North Slope have thinned this year, the University of Alaska Fairbanks said in a study, creating a possible obstacle for exploration in part of the Arctic National Wildlife Refuge thought to harbor more than 7 billion barrels of oil. — Read on http://www.bloomberg.com/news/articles/2019-09-07/alaska-snow-cover-thinning-may-pose-hurdle-for-refuge-drillingRead more "Alaska Snow Cover Is Thinning and May Cause Problems for Drilling – Bloomberg"
When car enthusiast John Hennessey started a YouTube channel more than a decade ago, he just wanted his Sealy auto modification shop to keep up with the times. Fast forward 12 years and Hennessey’s social media presence has exploded to 340,000 YouTube subscribers and 1 million Instagram followers watching his mechanics modify high-end cars and […]Read more "Courting millennials, Shell, Phillips 66 turn to social media influencers – HoustonChronicle.com"
Stakes have been placed in the ground, pipe stacked in yards and construction is set to begin on the Permian Highway Pipeline. The $2 billion partnership between Kinder Morgan, Midland’s EagleClaw Midstream and Altus Midstream subsidiary Altus Midstream Processing LP will be comprised of 430 miles of 42-inch pipeline carrying up to 2.1 billion cubic […]Read more "Construction about to begin on Permian Highway natural gas pipeline – San Antonio Express-News"
Midland’s Concho Resources said Tuesday it will sell its more mature Permian Basin assets in New Mexico for $925 million to the Houston startup Spur Energy Partners. Concho, which has struggled financially of late, will use the funds to cut down on debt and initiate a share buyback program to help appease Wall Street, while […]Read more "Concho sells Permian assets to Houston’s Spur Energy for $925M – Midland Reporter-Telegram"
Dallas pipeline operator Energy Transfer is asking federal regulators for a five-year extension to build the company’s proposed Lake Charles LNG export terminal. Energy Transfer received a federal permit for the project in December 2015. Under the terms of that the permit, the 240-acre liquefied natural gas export terminal was supposed be operational by December […]Read more "Energy Transfer seeks five-year extension to build Lake Charles LNG export terminal – Houston Chronicle by Sergio Chapa"
Asia’s crude oil imports from the United States climbed to a record in August, but that may be as good as it gets for some time – and it’s not just the escalating trade war between Washington and Beijing to blame. — Read on http://www.reuters.com/article/column-russell-crude-usa-asia/column-asias-imports-of-u-s-crude-hit-record-but-pullback-likely-russell-idUSL3N25U1CCRead more "COLUMN-Asia’s imports of U.S. crude hit record, but pullback likely: Russell – Reuters"
Oil and gas industry invests billions in zero- and low-greenhouse gas emission technologies, writes R. Dean Foreman of the American Petroleum Institute — Read on http://www.usatoday.com/story/opinion/2019/08/27/american-petroleum-institute-can-meet-demand-sustainably-editorials-debates/2136115001/Read more "American Petroleum Institute: We can meet energy demand sustainably"
Companies have proposed at least eight offshore oil-export terminals — many requiring billions of dollars in investment — that would stretch from off the coast of Brownsville to southeastern Louisiana and take advantage of a new flood of crude from the booming Permian Basin as several pipelines connecting West Texas and the Gulf Cast near […]Read more "The race to build offshore oil export terminals – HoustonChronicle.com"