September 12, 2017 – Oil & Gas 360

Tailwater Capital Announces $300 Million Haynesville/Cotton Valley Midstream Deal

September 12, 2017

Tailwater Capital-backed Align Midstream, LLC has entered into a definitive agreement to sell the company to Oklahoma City-based Enable Midstream Partners, LP (NYSE: ENBL) for approximately $300 million. Dallas-based Align is focused on producers in East Texas and North Louisiana. Align operates a 100-million cubic feet per day cryogenic natural gas processing plant in Panola, Texas, and approximately 190 miles of natural gas gathering pipelines across Rusk, Panola and Shelby counties

Our Production is Falling: OPEC

September 12, 2017

95% current compliance with production cut targets OPEC released its Monthly Oil Market Report today, outlining the state of the oil trade and the effects of the group’s output cuts. The group’s production decreased by 79.1 MBOPD in August, bringing it closer to full cut compliance. Nigeria up significantly, Libya down Nigeria was the only country to significantly increase production,

Cenovus recognized for leadership in corporate responsibility

September 12, 2017

Cenovus recognized for leadership in corporate responsibility

JV Creates Largest Private Argentinian Energy Company

September 12, 2017

Combines second-largest Argentinian producer and major refiner BP (ticker: BP) announced the formation of a new joint venture with Bridas Corporation, creating the largest privately-owned integrated energy company in Argentina. The JV is a combination of two subsidiaries, Pan American Energy (PAE) and Axion Energy into the Pan American Energy Group (PAEG). BP and Bridas will each hold a 50%

Will Enbridge’s Line 3 become the Next Keystone XL?

September 12, 2017

Minnesota Commerce Dept. sees no need for Enbridge’s Line 3 Replacement Pipeline Project The Line 3 Replacement Program is a multi-billion dollar private investment consisting of 1,031 miles of 36-inch diameter pipeline beginning in Hardisty, Alberta and ending in Superior, Wisconsin; it is one of North America’s largest infrastructure programs: Enbridge Calgary-based energy transportation giant Enbridge (ticker: ENB) has said

Utilities Starting to Like Energy Storage, Even without State Mandates

September 12, 2017

Across the country, energy storage is moving into prime time for utilities concerned about the ability of their grids to handle intermittent resources From: Utility Dive The fact that California’s three investor-owned utilities were at the top of the Smart Electric Power Alliance’s recent rankings is not surprising, but the presence of utilities in Indiana and Ohio is notable. California has been

NuVista Reports Operational Progress

September 12, 2017

NuVista Energy (ticker: NVA) provided a major operational update today, outlining its activity in several locations. is pleased to provide a significant operational update including the startup at Bilbo block of our largest pad drilled to date; powerful IP30 success from Elmworth block high intensity fractured wells (HiFi); the successful and on-time conclusion of the Keyera Simonette gas plant planned

Texas Oil Refineries Still Badly Hurting from Harvey

September 12, 2017

From CNNMoney NEW YORK (CNNMoney) — Hurricane Harvey packed such a powerful punch that more than a dozen Gulf Coast oil refineries are still hurting two weeks after the storm struck Texas. Five oil refineries remain shuttered as of Monday, according to S&P Global Platts, an energy research firm. Ten more are partially shut down as they attempt to recover

Iranian Production Up; Oil Shipments Gain Ground in China, Europe

September 12, 2017

From Freight News PRODUCTION BOOST Iran’s oil production has continued to rise in the past few months and is now above its OPEC quota of 3.797 million b/d. According to a recent Platts OPEC survey, Iranian crude oil production was at 3.83 million b/d in August, up 10,000 b/d from July. The country’s oil minister Bijan Zanganeh also confirmed earlier this

Iraq Won’t Immediately Switch Oil Pricing Benchmark

September 12, 2017

SOMO told customers it needs more time to study a plan to change its price benchmark for Basra crude to DME Oman futures from the average of Platts’ Oman-Dubai prices with effect from January 2018, according to the letter dated Sept. 10, and sent by Falah Alamri, the former head of the state oil marketer. From Economic Times/Reuters DUBAI- Iraq‘s Oil Marketing Company

Baker Hughes Gets in on Gas Bonanza

September 12, 2017

Drilling services company to help develop production systems for one of the largest natural gas fields in the world From UPI Sept. 11 (UPI) — A contract to provide services for the giant Zohr natural gas field off the Egyptian coast is a win-win for its economy and our business, Baker Hughes said. Drilling services company Baker Hughes, a GE company,

ISIS Stealing, Spilling and Smuggling Oil Throughout Iraq

September 12, 2017

From Fox News Despite being recently defeated from their major strongholds of Mosul and Tel Afar in Iraq, more than two years after Iraqi forces specifically sought to retake oil-rich areas from the Islamic State, its militants are continuing to steal, spill and smuggle crude oil from Iraqi oil fields as a means to wreak havoc and fund their spluttering

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