Thursday, May 8, 2025

First U.S. Floating LNG Project Delfin Gets License to Export 1.8 Bcf/Day

Delfin deepwater LNG clears export hurdle The U.S. Department of Energy approved a long-term application to export liquefied natural gas (LNG) from the U.S.’s first offshore project, Delfin LNG, LLC.  Exports in the amount of 1.8 billion cubic feet per day (Bcf/d) of natural gas are approved from Delfin’s proposed offshore Louisiana floating LNG terminal in the Gulf of Mexico. Development of

Roughnecks at drill site.

Rigs Up for a Record 20 Weeks

Second-longest build, in 1992, was 14 consecutive weeks; U.S. count reaches 916, Permian adds 2 The U.S. drilling industry has now seen 20 weeks of consecutive rig gains, according to the latest Baker Hughes rig count, released today. Eight rigs came online in the U.S. this week, bringing the total number of rigs active in the U.S. to 916. All

Apache Sells Canadian Conventional Assets for C$330 Million

Cardinal acquires 5,000 BOEPD of production Apache Corp. (ticker: APA) announced the sale of Canadian light oil assets today in a C$330 million ($244 million) cash deal with Cardinal Energy (ticker: CJ). Unlike many recent Canadian oil and gas property sales, these properties are not unconventional Montney or oil sands, but instead are conventional light oil. ~300 drilling locations available,

Rosneft

BP and Rosneft Expand Natural Gas Cooperation

A new MoU between BP and Rosneft will see more Russian natural gas flowing to Europe BP (ticker: BP) and Russian oil giant Rosneft signed a Memorandum of Understanding (MoU) in St. Petersburg Friday to bring a new stream of Russian natural gas to Europe by the end of this decade. Previously, BP said it could receive between 7 and

U.S. Crude Exports Soar

From The Fuse With domestic production rising and OPEC reducing sales to Asia, the U.S. has taken advantage of shifting market conditions by shipping more crude to customers overseas. The U.S. exported an eye-opening 900,000 b/d of crude during the first quarter, with volumes going to 24 different countries, compared to exports of 510,000 b/d in Q4. Exports were more than double levels