Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )

360 Articles

BOEM Issues Delay for New Financial Assurance Requirements for Offshore Operators

BOEM Issues Delay for New Financial Assurance Requirements for Offshore Operators

Government prioritizing implementation of new OCS financial assurance rule On January 6, 2017, the Bureau of Ocean Energy Management (BOEM) announced a six-month delay in the implementation of the rigorous financial assurances required by Notice to Lessees and Operators NTL No. 2016-N01, Haynes and Boone attorneys Robert Thibault and  Christopher J. Reagen announced in a notice to clients yesterday. “Although the[Read More…]

January 12, 2017 - 5:56 pm 360 Articles, Closing Bell Story, Offshore, Regulatory
Colorado’s City and County of Broomfield Seeks Frac Moratorium–Again: Council Puts off Decision

Colorado’s City and County of Broomfield Seeks Frac Moratorium–Again: Council Puts off Decision

Extraction Oil & Gas’s proposed drilling program spurred citizen action and reaction by Broomfield council On Jan. 10, 2017, the City and County of Broomfield, Colorado, held a public hearing on its proposed ordinance No. 2038 which calls for imposing a temporary moratorium on oil and gas drilling, hydraulic fracturing, and the processing of certain oil and gas related applications.[Read More…]

January 11, 2017 - 5:59 pm 360 Articles, Closing Bell Story, E&P, Fracing, Regulatory
EPA Rule Change Adding Natural Gas Processing Facilities to Toxics Release Inventory

EPA Rule Change Adding Natural Gas Processing Facilities to Toxics Release Inventory

The Environmental Protection Agency (EPA) has officially proposed a rule change for natural gas processors, specifically affecting natural gas liquids extraction facilities. The clock started today when the notice was published in the Federal Register dated Jan. 6, 2017. What rule is the EPA is proposing? The EPA is proposing to add natural gas processing (NGP) facilities (also known as natural gas liquid[Read More…]

January 6, 2017 - 2:54 pm 360 Articles, Closing Bell Story, Regulatory
Four New Members Join the U.S. House of Representatives Energy and Commerce Committee

Four New Members Join the U.S. House of Representatives Energy and Commerce Committee

House Oversight of Energy Legislation House Energy and Commerce Committee Chairman Greg Walden (R-OR) announced four incoming Republican members today: Buddy Carter (R-GA),  Ryan Costello (R-PA),  Tim Walberg (R-MI),  Mimi Walters (R-CA). The Committee on Energy and Commerce was established on December 14, 1795. It is the oldest standing legislative committee in the U.S. House of Representatives and it is vested with the[Read More…]

January 5, 2017 - 4:21 pm 360 Articles, Closing Bell Story, Regulatory
U.S. to offer 48 Million Acres in its Last Central Gulf of Mexico Oil & Gas Lease Sale

U.S. to offer 48 Million Acres in its Last Central Gulf of Mexico Oil & Gas Lease Sale

Final Notice of Sale announces lease terms for available acreage offshore Louisiana, Mississippi and Alabama – Lease Sale Number 247 is Mar. 22, 2017 Two days after President Obama used his pen to indefinitely ban most of the Arctic and some of the Atlantic to oil and gas drilling, the Bureau of Ocean Energy Management (BOEM) announced its Notice of[Read More…]

December 22, 2016 - 3:47 pm 360 Articles, Closing Bell Story, E&P, Offshore, Regulatory
President Declares “Indefinite” Offshore Drill Ban for Alaska and Atlantic Coastal Waters

President Declares “Indefinite” Offshore Drill Ban for Alaska and Atlantic Coastal Waters

White House Issues Memorandum Withdrawing Bulk of Alaska’s Arctic OCS and Portions of Atlantic OCS from Oil and Gas Drilling Today the White House pulled the plug on offshore drilling leases in the bulk of the Arctic offshore Alaska and portions of the Atlantic outer continental shelf (OCS). “The United States is designating the vast majority of U.S. waters in[Read More…]

December 20, 2016 - 5:55 pm 360 Articles, Arctic, Closing Bell Story, E&P, Politics, Regulatory
Oklahoma’s Osage Nation wants Oil & Gas Development to Hit the Accelerator—Now

Oklahoma’s Osage Nation wants Oil & Gas Development to Hit the Accelerator—Now

Osage Nation’s desire to continue its legacy of oil wealth is being stymied by the U.S. government; tribe wants oil companies to explore new plays, generate new oil production Seizing upon economic growth opportunities associated with their tribal lands has been a hallmark of the Osage Tribe’s financial success for the past 208 years. Located in Oklahoma, the Osage Nation has a long history[Read More…]

December 15, 2016 - 5:25 pm 360 Articles, Closing Bell Story, E&P, Feature Stories, Politics, Regulatory
FERC Says ‘No’ to Jordan Cove, Again

FERC Says ‘No’ to Jordan Cove, Again

  The Federal Energy Regulatory Commission on Friday rejected the pending requests for a re-hearing by the Jordan Cove Energy Project L.P., Pacific Connector Gas Pipeline, the State of Wyoming and the Wyoming Pipeline Authority. The commission orders read as follows: (A) Jordan Cove Energy Project, L.P’s and Pacific Connector Gas Pipeline, LP’s request to reopen the record is denied.[Read More…]

December 14, 2016 - 9:57 am 360 Articles, Closing Bell Story, LNG, Regulatory
President Withdraws More of Alaska from Future Oil and Gas Production

President Withdraws More of Alaska from Future Oil and Gas Production

White House  removes 43,000 sq. miles and 3 Tcf of natural gas potential from offshore Alaska On Nov. 9, the president signed an executive order creating the Northern Bering Sea Climate Resilience Area. “This area, encompassing 112,300 square miles, represents a hugely productive, high-latitude ocean ecosystem and supports one of the largest seasonal marine mammal migrations in the world, including thousands of bowhead[Read More…]

December 12, 2016 - 6:55 pm 360 Articles, Arctic, Closing Bell Story, E&P, Regulatory
Oklahoma is the Most Attractive Place for Oil and Gas Investment: Fraser

Oklahoma is the Most Attractive Place for Oil and Gas Investment: Fraser

Oklahoma finished No. 1 as the best place where ‘policy does not deter upstream investment’ Canada’s Fraser Institute says that Oklahoma has beaten Texas in something else. According to the Canadian think tank’s annual global survey of petroleum sector executives, Oklahoma is the most attractive jurisdiction around the world for oil and gas investment. “Most U.S. states are bucking the global trend of[Read More…]

EPA Carbon Standards for Cars, Light Trucks to Reduce Oil Consumption by 1.2 Billion Barrels

EPA Carbon Standards for Cars, Light Trucks to Reduce Oil Consumption by 1.2 Billion Barrels

EPA carbon rule is expected to add $800-$1,100 to new car sticker prices and reduce oil consumption by 1.2 billion barrels While the oil industry was watching OPEC, U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy has issued a final proposal to leave the carbon emissions standards for model years 2022-2025 in place. “This extensive body of analysis shows that[Read More…]

December 1, 2016 - 3:22 pm 360 Articles, Closing Bell Story, Regulatory, Transportation
North Dakota tells Court Fed Flaring Rule “Runs Roughshod” Over its Sovereign Interests

North Dakota tells Court Fed Flaring Rule “Runs Roughshod” Over its Sovereign Interests

North Dakota has a unique split estate configuration that complicates oil and gas rule making Last week, on the eve of the U.S. holiday, North Dakota joined Wyoming and Montana in a legal petition filed against the federal government’s final flaring and emissions rule. North Dakota filed a memorandum in support of the its unopposed motion to intervene as petitioner in case[Read More…]

November 28, 2016 - 4:26 pm 360 Articles, Closing Bell Story, Law, Regulatory
Wyoming Files Suit Opposing BLM Rule on Flaring - Oil & Gas 360

Wyoming Files Suit Opposing BLM Rule on Flaring

Wyoming and Montana say rule is outside BLM’s authority, complicates development of resources At the request of Governor Matt Mead, the Wyoming Attorney General’s office has filed a petition for review of final agency action on the “Methane and Waste Reduction” rule promulgated by the Bureau of Land Management (BLM). The State of Wyoming asserts the rule is outside the[Read More…]

November 23, 2016 - 1:36 pm 360 Articles, Closing Bell Story, Regulatory
BLM Issues Final Rule on Flaring

BLM Issues Final Rule on Flaring

BLM Releases Final Rule to Reduce Methane Emissions & Flared Gas on Public and Tribal Lands The Interior Department announced the final Methane and Waste Prevention Rule today, according to a press release from the Bureau of Land Management. The rule requires operators to cut natural gas flaring in half over time, replace outdated high-venting equipment, and find and fix natural[Read More…]

November 15, 2016 - 7:01 pm 360 Articles, Closing Bell Story, E&P, Regulatory
Industry Groups File FOIA Request regarding New Financial Assurance Requirements for Offshore Drilling

Industry Groups File FOIA Request regarding New Financial Assurance Requirements for Offshore Drilling

NOIA, IPAA, LMOGA & GEST file FOIA Requests to BOEM and DOI regarding NTL No. 2016-N01 On Nov. 7, 2016, four oil and gas industry trade groups submitted Freedom of Information Act (FOIA) requests to both the Bureau of Ocean Energy Management (BOEM) and the Department of the Interior (DOI) seeking information related to what the groups dubbed “the recent[Read More…]

November 7, 2016 - 6:59 pm 360 Articles, Closing Bell Story, Regulatory
EPA Releases New Emissions Guidelines for VOCs from Oil and Gas Equipment, Well Sites

EPA Releases New Emissions Guidelines for VOCs from Oil and Gas Equipment, Well Sites

Haynes and Boone looks at new EPA guidelines The U.S. Environmental Protection Agency has published new final Control Techniques Guidelines (CTGs) targeting volatile organic compound emissions from existing oil and natural gas equipment and processes in certain states and nonattainment areas. The agency looked at all the points where it found that emissions can occur throughout the oil and natural[Read More…]

October 26, 2016 - 4:54 pm 360 Articles, Closing Bell Story, Downstream, E&P, Midstream, Regulatory
DAPL Moves Towards Completion, “Keep it in the Ground” Gets Crazier

DAPL Moves Towards Completion, “Keep it in the Ground” Gets Crazier

After Setbacks in Court, Activists Take Matters into own Hands The battle over energy infrastructure draws on. Emboldened by President Obama’s rejection of Keystone XL last year and halting of work the Dakota Access Pipeline, activists have shifted their focus from fracking to protesting pipelines. Pipelines are new flash points for climate activism and are subject to a fairly complicated approval[Read More…]

October 19, 2016 - 6:57 pm 360 Articles, Closing Bell Story, Midstream, Politics, Regulatory
Task Force Issues 44 Underground NatGas Storage Recommendations in Wake of Aliso Canyon

Task Force Issues 44 Underground NatGas Storage Recommendations in Wake of Aliso Canyon

Seven federal agencies, along with state and local input, made recommendations for well integrity, health effects, energy reliability for the underground storage of natural gas Through the work of a new task force co-chaired by the Department of Energy (DOE) and the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA), representatives from the Department of Transportation, the Environmental Protection Agency, the Federal Energy[Read More…]

October 19, 2016 - 5:18 pm 360 Articles, Closing Bell Story, Regulatory
West Virginia Suffers Worst Industrial Job Loss since the Recession

West Virginia Suffers Worst Industrial Job Loss since the Recession

Coal industry sheds 21% of its West Virginia jobs, no longer state’s largest industrial employer West Virginia shed more industrial jobs over the past twelve months than at any year since the end of the recession, according to a new report in the 2017 West Virginia Manufacturers Register®, an industrial database and directory published by Manufacturers’ News. According to the[Read More…]

Canada’s Pipeline Approval Process is Approaching FUBAR Status

Canada’s Pipeline Approval Process is Approaching FUBAR Status

Politics + Energy Logistics = Bad Combination When the politics of one kind of energy vs. another overtake the reality of needing to move energy from the source location to the customer’s location, things can get out of whack fast. Just ask Canada. Canada’s First Nations are chasing each other in circles. Some chiefs oppose oil pipelines and energy projects, while[Read More…]

October 4, 2016 - 6:09 pm 360 Articles, Canada, Closing Bell Story, Midstream, Regulatory
Surety Industry Weighs In on New OCS Supplemental Bonding Requirements

Surety Industry Weighs In on New OCS Supplemental Bonding Requirements

Examining new BOEM supplemental bonding requirements for OCS decommissioning obligations: Part 4 In context of the Bureau of Ocean Energy Management’s new NTL 2016-N01, the recently in force Notice to Lessees and Operators in the outer continental shelf (OCS) laying out strict new financial demands of operators and leaseholders to cover decommissioning liability on the OCS, Oil & Gas 360® took[Read More…]

September 28, 2016 - 6:58 pm 360 Articles, Closing Bell Story, Offshore, Regulatory
Gulf of Mexico Operators: Prepare to Present the U.S. Government with Financial Assurance Covering 100% of Decommissioning Liability for your OCS Leases

Gulf of Mexico Operators: Prepare to Present the U.S. Government with Financial Assurance Covering 100% of Decommissioning Liability for your OCS Leases

Notices from BOEM to Gulf of Mexico operators will hit mail boxes starting in November: an Oil & Gas 360® Exclusive Interview with BOEM GOM Regional Director Michael Celata – Part 3 of a Series New, much more stringent financial demands for decommissioning liability are about to hit the offshore oil and gas operators and leaseholders hard. Oil and gas[Read More…]

September 23, 2016 - 10:55 am 360 Articles, Closing Bell Story, E&P, Feature Stories, Offshore, Regulatory
Paperwork

FASB Releases Updated Rules to Standardize Reporting and Classification of Cash Receipts and Payments

Board Addresses Cash Flow Issues for which GAAP Currently Offers no Guidance As part of its ongoing review of emerging issues, the Financial Accounting Standards Board (FASB) issued a new update that seeks to narrow variations in how cash receipts and payments are presented and classified in cash flow statements. Under Accounting Standards Update 2016-15, Statement of Cash Flows (Topic 230):[Read More…]

September 22, 2016 - 10:09 am 360 Articles, Closing Bell Story, Finance, Regulatory
Experts Predict Trouble Ahead for Gulf of Mexico Oil & Gas Operators

Experts Predict Trouble Ahead for Gulf of Mexico Oil & Gas Operators

New supplemental collateral requirements could severely damage independent Gulf of Mexico drillers, producers – Part 2 On Sept. 12, 2016, the federal government initiated big changes to its bonding requirements for the financial liability for decommissioning oil and gas assets on the U.S. outer continental shelf (OCS). The new requirements are game-changing, according to some experts who predict that the[Read More…]

ND U.S. Representative Kevin Cramer

An Exclusive Interview with North Dakota Congressman and Trump Energy Advisor Kevin Cramer

Rep. Cramer discusses the Dakota Access pipeline, what it’s like advising Donald Trump, and his views on having a national energy policy On Sept. 16, a federal appeals court ordered a halt to construction of a second portion of the Dakota Access oil pipeline in North Dakota. Friday’s order comes on the heels of the federal government’s Sept. 9, 2016 announcement[Read More…]

Obama Administration Halts Work on Dakota Access Pipeline

Obama Administration Halts Work on Dakota Access Pipeline

Administration Overturns Federal Court Ruling, Halts Work on $3.8 Billion Dakota Access Pipeline In a surprise statement on Friday, the Obama administration said that it would not issue the easements necessary for construction to begin on a portion of the Dakota Access Pipeline project planned to run under Lake Oahe in North Dakota, just north of the boundaries of the[Read More…]

U.S. Offshore Drilling Changes Drastically on Sept. 12, 2016

U.S. Offshore Drilling Changes Drastically on Sept. 12, 2016

Part 1: What is NTL No. 2016-N01? In July an agency under the executive branch of the U.S. government delivered what might be a killshot for a portion of the leaseholders and operators working to extract oil and natural gas from the deepwater U.S. outer continental shelf (OCS). It looks innocuous enough. A memo entitled “Requiring Additional Security” that was[Read More…]

September 9, 2016 - 10:30 am 360 Articles, Closing Bell Story, E&P, Feature Stories, Law, Offshore, Regulatory
Did a White House Appointee just Kill Deepwater Drilling in the Gulf of Mexico?

Did a White House Appointee just Kill Deepwater Drilling in the Gulf of Mexico?

U.S. Offshore Drilling Changes Drastically after Sept. 12, 2016 – Part 1 In July an agency under the executive branch of the U.S. government delivered what might be a killshot for a portion of the leaseholders and operators working to extract oil and natural gas from the U.S. outer continental shelf (OCS). It looks innocuous enough. A memo entitled “Requiring Additional[Read More…]

September 6, 2016 - 6:59 pm 360 Articles, Closing Bell Story, E&P, Feature Stories, Law, Offshore, Regulatory
Oil & Gas 360

Both Anti-Oil & Gas Initiatives Fail to Make Colorado Ballot

Initiative 75 (local government control over oil and gas) and 78 (mandatory 2,500-ft. setback) fall short of required signatures The Colorado Secretary of State issued a press release today, explaining how two anti-oil & gas initiatives failed to achieve the minimum number of required signatures to make the November ballot. If either attempt had succeeded, it would have put the[Read More…]

August 29, 2016 - 1:17 pm 360 Articles, Closing Bell Story, E&P, Politics, Regulatory
Colorado Anti-Frac Ballot Signatures Are Being Counted: 3 Experts Weigh In

Colorado Anti-Frac Ballot Signatures Are Being Counted: 3 Experts Weigh In

2,500-foot setback for oil and gas “would pretty much gut new development” On August 24, the Colorado Secretary of State issued a press release that announced that the two anti-frac measures seeking to become amendments to the Colorado constitution are currently in the process of having the submitted signatures counted and verified. “The Colorado Secretary of State’s Office is still tabulating the final two[Read More…]

August 25, 2016 - 7:19 am 360 Articles, Closing Bell Story, E&P, Politics, Regulatory, Videos