Articles by: Bevo Beaven, Editor

Source: The Oklahoman

Oklahoma tax revenues hit 12-month high

From The Oklahoman

Bolstered by an improving economy and increased oilfield activity, the Oklahoma state treasury has taken in a record $12.8 billion in gross tax receipts over the last 12 months, State Treasurer Ken Miller announced Wednesday.

Those collections …

December 7, 2018 - 10:35 am Closing Bell Story‎, Energy News
Source: Coastal Observer

Offshore Drilling: South Carolina Seismic Approvals Point to Exploration

From Coastal Observer

Attorneys for 16 coastal communities, including the town of Pawleys Island, expect to file suit next week in federal court to challenge an authorization that will allow oil and gas exploration off the South Carolina coast. “We’ve …

December 7, 2018 - 6:19 am Closing Bell Story‎, Energy News, Politics & Opinions
Calfrac Announces 2019 Capital Program

Calfrac Announces 2019 Capital Program

Calgary-based Calfrac Well Services Ltd. (stock ticker: CFW) provided details today on its 2019 capital program:

Approximately $149 million will be spent, including $126 million of maintenance capital
$11 million of refurbishment capital and $12 million related to corporate initiatives

December 6, 2018 - 2:33 pm Canada, Closing Bell Story‎, Oilfield Services
Alaska Treasury Benefits from Premium Price on Brent

Alaska Treasury Benefits from Premium Price on Brent

From Alaska Journal of Commerce

Just about the most expensive crude in North America comes from Alaska’s North Slope. Not that it’s anything all that special, unlike Copper River salmon which fetches a premium price for its high oil content, …

December 6, 2018 - 2:16 pm Closing Bell Story‎, Energy News
Province Hands Out Notices to Companies Forced to Cut Oil Production

Province Hands Out Notices to Companies Forced to Cut Oil Production

From Edmonton Journal

The province is in the process of notifying the 25 companies that will have to make production cuts to reduce the oil differential, says Alberta’s energy minister.

“Right now we’re working with each individual company,” said Energy …

December 6, 2018 - 1:58 pm Canada, Closing Bell Story‎, Energy News, International
Source: AST&Science

Texas Spaceport in Heart of Oil Country will Launch Micro-Satellites in 2019

Newly completed factory will produce and launch up to 100,000 seven-ounce satellites a year at its Midland space facility, schedules first launches for 2019

From Engineering.com

A new satellite factory has opened in the heart of Texas—and it promises to …

December 6, 2018 - 12:44 pm Closing Bell Story‎
Source: CatholicVoices.org

Who will Produce Mexico’s Oil? New President Waits for Production from Existing Contracts Before Considering New Auctions

From Reuters

MEXICO CITY, Dec 5 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Wednesday that he will not cancel oil contracts awarded under the previous government’s energy reform, but that he wants to see production from existing …

December 6, 2018 - 12:20 pm Closing Bell Story‎, International, Mexico, Politics & Opinions
Vermilion Takes Over as Operator for Corrib

Vermilion Takes Over as Operator for Corrib

Vermilion Energy Inc. (stock ticker: VET) reported today the completion of the sale of Shell Overseas Holdings Limited’s 45% interest in the Corrib Natural Gas Project in Ireland (Corrib) to Nephin Energy Holdings Limited (NEHL), a wholly owned subsidiary of …

November 30, 2018 - 4:33 pm Closing Bell Story‎, International
Bellatrix Renews Credit Facility and Borrowing Base

Bellatrix Renews Credit Facility and Borrowing Base

Bellatrix Exploration Ltd. (stock ticker: BXE) recently completed the renewal and extension of its syndicated revolving credit facilities and the semi-annual redetermination of the borrowing base.

The term of the credit facilities has been renewed to May 30, …

November 30, 2018 - 2:52 pm Canada, Closing Bell Story‎, Finance
Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

From Houston Chronicle

 

The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services.

A new report …

November 30, 2018 - 1:30 pm Closing Bell Story‎, Energy News
Drilling Down: Equinor Prepares to Tackle new Eagle Ford Shale Projects

Drilling Down: Equinor Prepares to Tackle new Eagle Ford Shale Projects

From Houston Chronicle

 

Norwegian oil giant Equinor will soon be returning to the Eagle Ford Shale of South Texas for a new round of drilling.

The exploration and production company has filed for its first new drilling permits in …

November 30, 2018 - 1:00 pm Closing Bell Story‎, Energy News, Industry Insights
Williams Weighs Selling Stake in Wyoming Pipeline

Williams Weighs Selling Stake in Wyoming Pipeline

From Bloomberg

  • Its 50% of Jackalope system could fetch more than $500 million
  • Division gathers and processes gas in Powder River Basin

 

Williams Cos., one of the biggest natural gas pipeline operators in the U.S., is seeking buyers …

November 30, 2018 - 12:33 pm Closing Bell Story‎, Energy News
Notley Leaves Alberta Oil Industry Hanging on Output-Cut Idea

Notley Leaves Alberta Oil Industry Hanging on Output-Cut Idea

From Bloomberg

  • Premier makes no mention of curtailment in Toronto speech
  • CTV Interview Wednesday had raised expectation that she would

 

Alberta Premier Rachel Notley reiterated her call for Canadians to support new oil pipelines and improve two energy bills …

November 30, 2018 - 12:13 pm Canada, Closing Bell Story‎, Energy News, International
Saudi Arabia Faces a Dramatic Choice at OPEC

Saudi Arabia Faces a Dramatic Choice at OPEC

From Bloomberg

  • Saudi-Russia meeting at G20 likely to determine OPEC outcome
  • WTI crude plunged below $50 a barrel for first time in a year

 

The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production …

November 30, 2018 - 11:50 am Closing Bell Story‎, Energy News, International, OPEC
Shale Gluts and Ship Rules Make Heavy Sweet Oil an Unlikely Star

Shale Gluts and Ship Rules Make Heavy Sweet Oil an Unlikely Star

From Bloomberg 

 

  • Shale boom, shipping rules weaken light and high-sulfur grades
  • Crudes from Angola, Brazil may benefit from quality concerns

 

There’s a rising star in the oil world, and it’s heavy and sweet.

Dense, low-sulfur oil, known in …

November 30, 2018 - 11:33 am Closing Bell Story‎, Energy News, International
Source: MAURIC

Automaker Eyes Wind Powered Ships to Cut Supply Chain Carbon

From Marine Log

French automaker Groupe Renault has signed a three year agreement with Neoline, a start up that says it aims to become the first modern shipowner to fully embrace energy efficiency by relying on wind power as its …

November 30, 2018 - 10:48 am Closing Bell Story‎, Energy News, International, Renewable Energy
Source: Vestas

Vestas Sees U.S. Demand for Wind Turbines Peaking in 2020

From Reuters

COPENHAGEN (Reuters) – Wind turbine maker Vestas sees U.S. demand peaking in 2020 as government incentives, which have spurred investments in the sector, are phased out.

The Danish company is the turbine maker most exposed to the U.S. …

‘Constant Surge of Oil’ Flows to Texas Coast for Export

‘Constant Surge of Oil’ Flows to Texas Coast for Export

Infrastructure build and industrial boom spark tensions, concerns with Texas coastline residents

From The Texas Tribune

PORT ARANSAS — Texas, home to the most prolific oilfield in the country, is at the epicenter of the frenzy. More than 80 plants, …

November 30, 2018 - 6:05 am Closing Bell Story‎, Energy News
Powell Opens Door to Possible Pullback in Fed Rate-Hike Outlook

Powell Opens Door to Possible Pullback in Fed Rate-Hike Outlook

From Bloomberg

 

  • Median could shift to two increases from three in 2019
  • Fed chief says rates ‘just below’ range of neutral estimates

 

Federal Reserve Chairman Jerome Powell opened the door for a potential pullback in projected interest-rate hikes …

Petronas Plans $1 Billion Annual Spending for North Montney Ramp Up, Electrification in Northeast B.C.

Petronas Plans $1 Billion Annual Spending for North Montney Ramp Up, Electrification in Northeast B.C.

From Alaska Highway News

Petronas Canada plans to electrify its operations in Northeast B.C. as it reaccelerates its drilling program and brings spending to $1 billion a year by 2022.

The company, formerly Progress Energy, has been in a …

November 29, 2018 - 1:23 pm Canada, Closing Bell Story‎, Energy News, LNG
LNG Canada Gets Another Buyer

LNG Canada Gets Another Buyer

From Reuters

LONDON (Reuters) – LNG Canada, the $30 billion liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petronas signed an initial sales deal with trading house Vitol.

Royal Dutch Shell decided in October to …

November 29, 2018 - 12:41 pm Canada, Closing Bell Story‎, Energy News, International, LNG
Source: Petrobras

Petrobras Sells Rights in 37 Oilfields for $823 Million

Sale of stake in 34 onshore fields in Rio Grande do Norte
Rio de Janeiro based Petrobras’ board of directors approved yesterday the full sale of its stake in 34 onshore production fields, located in the Potiguar Basin, in Rio

November 29, 2018 - 12:18 pm Closing Bell Story‎, International
Helmerich & Payne: Flex, Automation and Super-Spec Aim to Drive Working Rig Count into High-200s

Helmerich & Payne: Flex, Automation and Super-Spec Aim to Drive Working Rig Count into High-200s

Helmerich & Payne (stock ticker: HP) reported its Q4 & fiscal year end Results yesterday and held its earnings call today.

President & CEO John Lindsay and CFO Mark Smith made comments regarding the merits of super-spec rigs, and rig

November 16, 2018 - 5:36 pm Closing Bell Story‎, Oilfield Services
Cheniere's Corpus Christie Plant

Cheniere Produces LNG from Newest Corpus Christi and Sabine Pass Trains

Yesterday Cheniere Energy, Inc. (stock ticker: LNG), in partnership with privately-held Bechtel, produced the first LNG from the Corpus Christi Liquefaction project (CCL Project) in Texas.

According to a 3Q 2018 presentation by Cheniere, the CCL Project is the first

November 16, 2018 - 3:25 pm Closing Bell Story‎, LNG
Williams, Brazos Midstream Form Delaware Basin JV

Williams, Brazos Midstream Form Delaware Basin JV

Williams Companies Inc. (stock ticker: WMB) will enter into a joint venture in the Delaware Basin with privately-held Texas-based midstream services company Brazos Midstream.

Brazos Midstream will have an 85% majority position in the joint venture. Its current assets include:

November 16, 2018 - 2:54 pm Closing Bell Story‎, Midstream
Covia Comes Off Frac Sand Plant Idlings for Q3 Results

Covia Comes Off Frac Sand Plant Idlings for Q3 Results

Frac sand provider Covia Holdings Corporation (stock ticker: CVIA) reported Q3 2018 results and held its earning call on Wednesday.

President and CEO Jenniffer Deckard discussed Covia’s spot pricing in the Permian, how it is coming off of idling some

November 15, 2018 - 2:48 pm Closing Bell Story‎, Oilfield Services
Whiting Adds to C-Suite

Whiting Adds to C-Suite

Denver-based Whiting Petroleum Corporation (stock ticker: WLL) has named former Noble Energy executive Charles J. (Chip) Rimer as its chief operating officer, effective November 15.

“With Chip on the team, we have completed our transition from a function based, hierarchical

EP Energy Q3: Reducing Leverage with Record Wells

EP Energy Q3: Reducing Leverage with Record Wells

EP Energy Corporation (ticker: EPE) reported its Q3 results and held its earning call yesterday.

Improvements with completions and new Eagle Ford & Permian Assets

EP has renamed its position in the Uinta Basin to Northeastern Utah or NEU.  In

November 9, 2018 - 5:57 pm Closing Bell Story‎, Finance
Source: QEP Resources

QEP Moves towards Pure-Play Midland

Denver-based QEP Resources Inc. (stock ticker: QEP) reported its Q3 Results Wednesday.
Pure-play is right move for QEP’s size
QEP is well on the course to being a pure-play Permian company, with the sale of its Bakken assets announced earlier

Source: Keystone-XL

Keystone XL Ruling Comes at Worst Time for Canadian Oil Industry

From Bloomberg

  • Producers already grappling with shortage of pipeline space
  • TransCanada line seen as key to relieving that congestion

A Montana federal judge’s ruling that threatens to further delay TransCanada Corp.’s Keystone XL pipeline comes at one of the …

November 9, 2018 - 11:50 am Canada, Closing Bell Story‎, Law