Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Natural Gas Inventories as of July 12, 2019 The EIA has released its natural gas inventory report, showing a build of 62 Bcf as of July 12. Working gas in storage was 2,533 Bcf as of Friday, July 12, 2019, according to EIA estimates. This represents a net increase of
By Tyler Losier, Energy Reporter, Oil & Gas 360 Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has entered into a definitive agreement with Desert Royalty Company to combine the two companies’ assets to form Desert Peak Minerals.
From Los Angeles Times Gov. Gavin Newsom on Friday defended firing California’s top oil industry regulator for issuing too many hydraulic fracturing permits, but offered no details on whether he plans to ban or limit the oil extraction process in the state. Newsom’s chief of staff fired Ken Harris, the head of the state Division of Oil, Gas and Geothermal Resources, on
By Tyler Losier, Energy Reporter, Oil & Gas 360 Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new limited liability company under the name Grizzly Energy. According to the Houston Chronicle, this is the second time in two
By Tyler Losier, Energy Reporter, Oil & Gas 360 Michael J. Stevens steps down as CFO, Correne S. Loeffler selected as replacement Whiting Petroleum Corporation (stock ticker: WLL), a Denver-based independent E&P with an oil-focused asset base, has named Correne S. Loeffler as Chief Financial Officer, effective August 1. She will replace Michael J. Stevens, who is stepping down after
Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Weekly Crude Oil Storage as of July 12, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are about 4% above the five year average for this time of
By Tyler Losier, Energy Reporter, Oil & Gas 360 The Oil and Gas Conference’s Williston Basin presenters cumulatively produce 633,800 BOEPD From August 11-14, Oil & Gas 360’s parent company – EnerCom – will host its 24th annual The Oil and Gas Conference® at the Westin Downtown Hotel in Denver, Colorado. This event offers investment professionals the opportunity to hear
Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in the forecourt of an abandoned truck stop. The song Free Bird by Lynyrd Skynyrd blares from the radio. “I’m making
From CNBC Tens of thousands of ships sailing the world’s oceans burn more than 3 million barrels of sludge-like high-sulfur fuel every single day. But, starting next year, the shipping industry will have to comply with rules that should dramatically reduce sulfur emissions. “It is the biggest change in oil market history,” Steve Sawyer, senior analyst at energy consultant Facts Global Energy,
From The Washington Post Iran says it came to the assistance of a foreign oil tanker that broke down in the Strait of Hormuz, as international concern mounted over the fate of an Emirati-linked ship that went missing in Iranian waters four days ago. Iran’s Foreign Ministry spokesman, Abbas Mousavi, said the tanker was approached by Iranian forces after sending a distress call and
By Tyler Losier, Energy Reporter, Oil & Gas 360 UAE denies ownership of the Panama-flagged vessel, which has been missing for two days The Riah, a 190-foot Panama-flagged oil tanker traveling through the Strait of Hormuz, has been missing since Saturday after its transponder stopped broadcasting near the coast of the small Iranian island of Qeshm. According to the Associated
By Tyler Losier, Energy Reporter, Oil & Gas 360 Mach Resources and Bayou City Energy form BCE-Mach II LLC, signs two PSAs Mach Resources, an independent E&P founded in January of 2017, and upstream-focused private equity firm Bayou City Energy, have formed BCE-Mach II LLC, representing the second partnership between the two companies. Their first collaboration, BCE-Mach LLC, continues to
