By Tyler Losier, Energy Reporter, Oil & Gas 360 Woodfibre LNG to deliver 0.75 Mtpa over 15-year period Woodfibre LNG, a wholly owned subsidiary of Pacific Oil & Gas Limited, has signed a binding sales and purchase agreement with BP Gas Marketing Limited, a wholly owned subsidiary of BP (stock ticker: BP), for the delivery of 0.75 Mtpa of LNG
Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Natural Gas Inventories as of June 21, 2019 The EIA has released its natural gas inventory report, showing a build of 98 Bcf as of June 21. Working gas in storage was 2,301 Bcf as of Friday, June 21, 2019, according to EIA estimates. This represents a net increase of
By Tyler Losier, Energy Reporter, Oil & Gas 360 Geothermal power project gets $7 million contribution Razor Energy Corp. (stock ticker: RZE), a Canadian oil and gas company based out of Calgary, has partnered with the Canadian government through Natural Resources Canada, as well as Alberta Innovates, to develop a geothermal electricity project. The technology behind the project works by
By Tyler Losier, Energy Reporter, Oil & Gas 360 Third and final appraisal well drilled, FID expected by 2020 Talos Energy Inc. (stock ticker: TALO), an independent E&P headquartered in Houston, has completed its Zama appraisal program in Block 7 of Mexico’s offshore Sureste Basin. Block 7 is owned by a consortium of companies, including Sierra Oil & Gas, Wintershall
From Bloomberg Move may help producers cut costs amid investor pressure Thrifty drillers have found a new use for the glut of natural gas that’s sent prices for the fuel below zero in America’s biggest shale patch: Use it to power fracking operations. For decades, explorers have used massive diesel engines mounted on tractor-trailers to shoot a mixture of water,
From Bloomberg New York-based hedge fund could reach deal for QEP in weeks Elliott Management Corp. is in advanced talks to buy QEP Resources Inc., the oil and gas explorer it offered to buy in January, according to people familiar with the matter. Elliott could reach a deal with the Denver-based company in within weeks, said one of the people, who asked to not be
From AP/WMTV EAU CLAIRE, Wis. (AP) — Wisconsin’s frac sand industry is grappling with several idled mines as the sector faces increased competition in Texas and Oklahoma. University of Wisconsin-Eau Claire Professor Kent Syverson believes the region’s frac sand development boom is over. Superior Silica Sands has idled three sand mines in Wisconsin, while Hi-Crush is halting production at its mine in
From ARS Tehnica Late last week, General Electric told a California regulator that it would close down a 10-year-old Southern California natural gas plant because it’s no longer economically competitive in California’s energy market. The news, first reported by Reuters, is surprising because natural gas plants tend to have 30-year lifespans on average, and natural gas is currently the cheapest fossil fuel on the market today.
From Crain’s New York Business The Cuomo administration’s “blockade” on new natural-gas pipelines could drive up energy costs for New Yorkers and actually increase the state’s greenhouse-gas emission, a report from the Manhattan Institute argues. The free-market think tank points to three separate large natural-gas pipelines that have been blocked by state environmental regulators. Most recently, the state Department of Environmental Conservation denied a water quality certificate
From The New York Times America’s coal-burning power plants are shutting down at a rapid pace, forcing electric utilities to face the next big climate question: Embrace natural gas, or shift aggressively to renewable energy? Some large utilities, including Xcel Energy in the Upper Midwest, are now planning to sharply cut their coal and gas use in favor of clean and abundant
By Tyler Losier, Energy Reporter, Oil & Gas 360 Renewables edge out coal for the first time in U.S. history This April, for the first time in U.S. history, monthly electricity generation from renewable sources exceeded that of coal-fired means, according to the EIA. More precisely, coal was responsible for about 20% of the nation’s electricity, whereas renewables such as
Compiled by Tyler Losier, Energy Reporter, Oil & Gas 360 Weekly Crude Oil Storage as of June 21, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 12.8 million barrels from the previous week. At 469.6 million barrels, U.S. crude oil inventories are about 5% above the five year average for this time of
