Texas Rig Count Slides For 12th Week In A Row
Overall activity down 10 By Richard Rostad, analyst, Oil & Gas 360 Drilling activity continued to fall this week as operators continue to adapt to lower oil prices, according to Baker Hughes Rig Count. A net ten rigs came offline in the week, equal to the drop seen last week and the sixth decline in a row. There are now
Trump Takes Fresh Approach with Long-Delayed Keystone XL Pipeline
From Reuters U.S. President Donald Trump on Friday signed a new permission for TransCanada Corp to build the long-delayed Keystone pipeline for imports of Canadian oil, replacing his previous permits in a fresh attempt to get around the blocking of the $8 billion project by a court in Montana. In granting the permission, Trump revoked a previous permit for the
Colorado Energy Overhaul Bill Passes House, Heads Back to Senate for Final Vote
Sweeping changes to the COGCC mission and composition, mandate for new rulemakings, new permitting layers, and involvement of local governmental approvals will usher out ‘business as usual’ for Colorado’s oil and gas industry The bill that lays out the language that will overhaul Colorado’s oil and gas rules, Colorado’s Senate Bill 19-181, has now jumped over the next to last
Oil Explorers Push Ahead in Mexico as AMLO Asks for More Output
From Bloomberg International oil companies including Malaysia’s Petronas, U.S. independent Murphy Oil Corp. and Spain’s Repsol SA are pushing ahead with plans to develop Mexico’s deep-water fields, as they face criticism from the government that they aren’t moving fast enough. “We’re not out there just sitting on acreage and waiting,’’ said Adam Seitchik, general manager of exploration and new ventures at Murphy Oil, speaking
Natural Gas Prices Are Crashing Globally as Market Suffers ‘Winter Hangover’
From Bloomberg Natural gas prices are collapsing across the globe as supplies from the U.S. to Australia flood the market, sparking concern some exporters will have to curtail output and raising questions about new investments. While prices typically ease at this time of year as mild weather in the northern hemisphere crimps demand, a boom in output of the heating
Houston Refinery Slowdown May Continue for A Week
From Reuters Lyondell Basell Industries may keep production cut at its 263,776 barrel-per-day (bpd) Houston refinery for a week because of constrained logistics, Gulf Coast market sources said on Friday. Royal Shell Plc plans to increase production on April 3 at its 275,000 bpd joint-venture Deer Park, Texas, refinery, which was cut because of a shipping shutdown, the sources said.
Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice
Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice
Oil Set for Best Quarter in Almost a Decade on OPEC+ Output Cuts
From Bloomberg Oil headed for its best quarter in almost 10 years as the OPEC+ coalition’s production cuts and the loss of barrels due to U.S. sanctions on Iran and Venezuela countered a wobbly demand outlook. Futures rose as much as 2.4 percent in New York on Friday, rallying with equities after Federal Reserve Bank of New York President John
U.S. State Department Expresses Concern About OPEC President
From Bloomberg U.S. State Department Assistant Secretary Francis Fannon has raised questions about Venezuela’s Manuel Quevedo serving as the president of OPEC. Fannon, who runs the Bureau of Energy Resources, expressed serious concerns to OPEC’s secretary-general about a former Maduro regime official continuing to act as the president of an international organization, a senior State Department official said in a
BP and Shell Both Claim to Be Number One in Investor Returns
From Bloomberg In the cutthroat game of global capitalism, there can be only one winner. Unless you’re an oil company. Both BP Plc and Royal Dutch Shell Plc are claiming the top spot for investor returns within their peer group from 2016 to 2018. That’s an important metric — taking first place was a significant element in the doubling of Shell Chief Executive Officer Ben van
