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360 Articles

ENB Line 21 Replacement Project

Canada’s National Energy Board Approves $53 Million Enbridge Pipeline

The National Energy Board (NEB) will allow Enbridge Pipelines Inc. (ticker: ENB) to replace a 2.5 km segment of its Line 21 Norman Wells Pipeline located in the Northwest Territory of Canada. Enbridge applied to the NEB on March 10, 2017 after identifying a potential safety concern related to a shifting slope on the Mackenzie River. ENB Line 21 Replacement[Read More…]

January 26, 2018 - 3:51 pm 360 Articles, Arctic, Canada, Closing Bell Story, Midstream
Alaska Collects $21.2 Million from Dec. 6 Lease Sale, North Slope Nets $20 Million of Total

Alaska Collects $21.2 Million from Dec. 6 Lease Sale, North Slope Nets $20 Million of Total

Armstrong Energy, Repsol, ConocoPhillips among winning bidders The State of Alaska held a record-breaking oil and gas North Slope lease sale on Dec. 6, netting competitive bids from investors around the world. The Division of Oil and Gas reported that it had received 143 bids from companies and investors seeking oil and gas leases on state lands during the division’s[Read More…]

December 7, 2017 - 5:19 pm 360 Articles, Arctic, Closing Bell Story, E&P
Statoil Greenlights Largest Offshore Project This Year

Statoil Greenlights Largest Offshore Project This Year

Johan Castberg will cost $6 billion Norway’s Statoil (ticker: STO) approved the largest offshore development this year today, approving the Johan Castberg project in the arctic Barents Sea. Discovered in 2011, Johan Castberg is farther north than Prudhoe Bay in Alaska. Several exploratory wells have indicated the field has significant oil reserves, but its remoteness makes development a challenge. Original[Read More…]

Armstrong Energy Sells Alaska Interests

Armstrong Energy Sells Alaska Interests

Current sale involves half of interests, can be expanded to all Denver-based private E&P Armstrong Energy is selling its interest in its Alaskan properties, where it made a massive discovery earlier this year—the largest conventional onshore discovery in 30 years. Oil Search (ticker: OSH), from Papua New Guinea, will pay $400 million for minority interests in the Pikka and Horseshoe[Read More…]

Alaska’s Oil Production Decline Flattens, State Hopes for a Continued Upswing

Alaska’s Oil Production Decline Flattens, State Hopes for a Continued Upswing

Oil production rose in 2016, 2017, expected to rise in 2018 Most attention in the U.S. oil and gas industry has focused on unconventionals with the Permian basin being the hottest of the hot shale plays based on operator activity, industry employment and deal flow. However a mere 3,814 miles and 63 hours away by car, lies a conventional oil[Read More…]

October 26, 2017 - 6:33 pm 360 Articles, Arctic, Closing Bell Story, Crude Oil News
Gulf of Mexico LNG Shippers Have a $45,000-a-Day Problem

Gulf of Mexico LNG Shippers Have a $45,000-a-Day Problem

Panama Canal expansion map – canal bottlenecks still hold up LNG shipments. Dealing with costly delays in getting tankers through the Panama Canal may slow down U.S. LNG shipments, according to Octavio Simoes, president of LNG export terminal developer Sempra LNG & Midstream. Bloomberg reported that Simoes calculated that every day a cargo is held up at the canal can cost a[Read More…]

October 3, 2017 - 6:50 pm 360 Articles, Arctic, Closing Bell Story, LNG
First Lease Sale in Alaska’s Federal Waters Since 2008 Attracts $3 Million

First Lease Sale in Alaska’s Federal Waters Since 2008 Attracts $3 Million

Hilcorp Alaska top bidder in Cook Inlet federal lease sale with more than $3 million in high bids on 76,000 acres Cook Inlet Lease Sale 244 — the first lease sale held in Alaska’s federal waters since 2008 — garnered $3,034,815 in high bids yesterday for 14 tracts covering roughly 76,615 acres in Cook Inlet, off Southcentral Alaska. All bids[Read More…]

June 22, 2017 - 1:42 pm 360 Articles, Arctic, Closing Bell Story, E&P
Source: BLM

Zinke Signs Order to Jump-Start Alaskan Energy Production in the NPR

Order also calls for updating ANWR resource assessments U.S. Secretary of the Interior Ryan Zinke signed a secretarial order to jump-start Alaskan energy production in the National Petroleum Reserve – Alaska (NPR-A) and update resource assessments for areas of the North Slope, including the “1002 area” of the Arctic National Wildlife Refuge (ANWR). Source: BLM “Working with the Alaska Native community, Interior will[Read More…]

June 1, 2017 - 5:47 pm 360 Articles, Arctic, Closing Bell Story, E&P
Electricity from the Sea is Real: the World’s Most Powerful Tidal Turbine Achieves 2 MW Peak Power in North Sea

Electricity from the Sea is Real: the World’s Most Powerful Tidal Turbine Achieves 2 MW Peak Power in North Sea

2 MW floating turbine sends power to the UK national grid Scotrenewables’ SR2000, the world’s largest tidal turbine, was launched from the Harland & Wolff shipyard, Belfast, in May 2016 before being towed to Orkney for North Sea testing. Source: Scotrenewables You’ve probably heard of the concept—using oceanic tidal flows to generate electricity. After the concept lived a sci-fi storyboard[Read More…]

Repsol and Armstrong Energy Announce Largest U.S. Onshore Conventional Hydrocarbons Discovery in 30 Years

Repsol and Armstrong Energy Announce Largest U.S. Onshore Conventional Hydrocarbons Discovery in 30 Years

Horseshoe-1: massive Alaska North Slope oil discovery Repsol (ticker: REP) and privately held Denver based Armstrong Energy LLC announced today the discovery of a massive oil field in Alaska, with an estimated 1.2 billion barrels of oil recoverable. This is the largest U.S. onshore conventional hydrocarbons discovery in the last 30 years, Repsol said in a press release. Drilled during[Read More…]

March 10, 2017 - 8:39 am 360 Articles, Arctic, Closing Bell Story, Discoveries, Popular
Alaska in Talks to Purchase ConocoPhillips’ Nikiski Kenai LNG Facility

Alaska in Talks to Purchase ConocoPhillips’ Nikiski Kenai LNG Facility

Alaska determined to be an LNG exporter even when the oil and gas companies have bailed Alaska’s KTVA11 reported last night that the Alaska Gasline Development Corporation (AGDC) said in a presentation before the Senate Resources Committee on Monday that it is in discussions with ConocoPhillips (ticker: COP) about purchasing its liquefaction plant in Nikiski. Source: ConocoPhillips Rosetta Alcantra, an AGDC spokeswoman,[Read More…]

January 24, 2017 - 4:49 pm 360 Articles, Arctic, Closing Bell Story, LNG
President Declares “Indefinite” Offshore Drill Ban for Alaska and Atlantic Coastal Waters

President Declares “Indefinite” Offshore Drill Ban for Alaska and Atlantic Coastal Waters

White House Issues Memorandum Withdrawing Bulk of Alaska’s Arctic OCS and Portions of Atlantic OCS from Oil and Gas Drilling Today the White House pulled the plug on offshore drilling leases in the bulk of the Arctic offshore Alaska and portions of the Atlantic outer continental shelf (OCS). “The United States is designating the vast majority of U.S. waters in[Read More…]

December 20, 2016 - 5:55 pm 360 Articles, Arctic, Closing Bell Story, E&P, Politics, Regulatory
Alaska Celebrates Highly Successful Lease Sale this Week, Most Industry Bids Since 2010

Alaska Celebrates Highly Successful Lease Sale this Week, Most Industry Bids Since 2010

Industry made it abundantly clear they are interested in Alaska’s oil and gas–onshore and offshore: Eni, ConocoPhillips, Armstrong, Anadarko On Wednesday, the Bureau of Land Management (BLM) and the Alaska Division of Oil and Gas each held a lease sale in Anchorage, putting state and federal leases up for auction. Officials associated with the lease sale said they were surprised by[Read More…]

December 16, 2016 - 6:55 pm 360 Articles, Arctic, Closing Bell Story, E&P
President Withdraws More of Alaska from Future Oil and Gas Production

President Withdraws More of Alaska from Future Oil and Gas Production

White House  removes 43,000 sq. miles and 3 Tcf of natural gas potential from offshore Alaska On Nov. 9, the president signed an executive order creating the Northern Bering Sea Climate Resilience Area. “This area, encompassing 112,300 square miles, represents a hugely productive, high-latitude ocean ecosystem and supports one of the largest seasonal marine mammal migrations in the world, including thousands of bowhead[Read More…]

December 12, 2016 - 6:55 pm 360 Articles, Arctic, Closing Bell Story, E&P, Regulatory
Alaska will have No Arctic Offshore Federal Lease Sales: BOEM

Alaska will have No Arctic Offshore Federal Lease Sales: BOEM

Alaska reels as BOEM Announces Federal OCS Lease Schedule for 2017-2022 The U.S. government released its final list of federal lands offshore that it will open for lease sales for oil and gas development on the outer continental shelf (OCS). Excluded from the lease sales are the highly prospective areas offshore Alaska in the Arctic—the Chukchi Sea and the Beaufort Sea.[Read More…]

November 18, 2016 - 6:56 pm 360 Articles, Arctic, Closing Bell Story, E&P, Offshore
Offshore Alaska: DOI Adds More Drilling Regulations

Offshore Alaska: DOI Adds More Drilling Regulations

President Obama ‘turning his back on the livelihoods of Alaskans who depend on resource development’ Today, the United States Department of the Interior and the Bureau of Ocean Energy Management released 348 pages of new Requirements for Exploratory Drilling on the Arctic Outer Continental Shelf. Today’s rule addresses certain key factors associated with conducting offshore oil and gas activities on the Arctic[Read More…]

July 7, 2016 - 5:16 pm 360 Articles, Arctic, Closing Bell Story, E&P, Offshore, Regulatory
Offshore Pain Continues:  Shell Cancels $600,000/Day Transocean Rig

Offshore Pain Continues: Shell Cancels $600,000/Day Transocean Rig

Polar Pioneer was the Focus of Protests Just Months Ago Royal Dutch Shell (ticker: RDS.B) delivered some bad news for Transocean (ticker: RIG) as companies returned to their respective offices following an extended Christmas weekend. According to a RIG press release, Shell elected to cancel its contract for the Polar Pioneer rig, which was originally scheduled to expire in July[Read More…]

December 28, 2015 - 3:18 pm 360 Articles, Arctic, Closing Bell Story, E&P, Offshore
Alaska’s $64.6 Million Purchase of TransCanada’s Interest in Alaska LNG is State’s “Number-One Get Well Card”

Alaska’s $64.6 Million Purchase of TransCanada’s Interest in Alaska LNG is State’s “Number-One Get Well Card”

Alaska hopes to make $400 million more per year after buying TransCanada’s share of the project Last week Alaska Governor Bill Walker said that the decision to purchase TransCanada’s share of the project was the “number-one get-well card” for Alaska’s $3.5 billion budget deficit. “Today is a historic day,” said Walker. “By gaining an equal seat at the negotiating table,[Read More…]

Drill Rig in Alaska - Oil & Gas 360

Statoil Bails on Alaska Offshore Leases, Citing Competitive Reasons

Sen. Murkowski: Obama Administration at Fault for “Project Killer” Regulations Statoil (ticker: STO) is closing the door on its Alaska operations, the company announced in a press release on November 17, 2015. The Norway-based exploration and production company plans to shut its office in Anchorage and will walk away from 16 operated and 50 non-operated leases in the Chukchi Sea.[Read More…]

November 18, 2015 - 7:00 pm 360 Articles, Arctic, Closing Bell Story, E&P, Offshore, Regulatory
Interior Department Puts Alaska Offshore Lease Programs on Ice

Interior Department Puts Alaska Offshore Lease Programs on Ice

Arctic Offshore Leases Cancelled Through 2017; Shell, Statoil Fail to Extend Leases The Chukchi Sea’s 29 billion barrels (U.S. Bureau of Ocean Energy Management’s estimate of BOE) will have to wait for better times. The U.S. Department of Interior announced last Friday that it will put a halt to future auctions for the current leasing program, which runs through 2017. In[Read More…]

October 19, 2015 - 6:05 pm 360 Articles, Arctic, Offshore, Regulatory
Drill Rig in Alaska - Oil & Gas 360

Armstrong Oil & Gas Defies Industry Bears, Boosts Stake in Alaska with $800 Million Transaction

Repsol Sells Portion of Interest, Dials Back Development Plans Armstrong Oil & Gas, a private exploration and production company headquartered in Denver, Colorado, is backing up its optimism for hydrocarbon production in Alaska. On October 13, 2015, the company increased its stake in the Colville River Delta region on Alaska’s North Slope for total consideration of more than $800 million.[Read More…]

October 14, 2015 - 7:08 pm 360 Articles, Arctic, E&P, Mergers & Acquisitions
Greenpeace International Founder Says Environmental Movement has Left the Rails: an exclusive Oil & Gas 360® interview – Part One

Greenpeace International Founder Says Environmental Movement has Left the Rails: an exclusive Oil & Gas 360® interview – Part One

Former self-described “radical environmental activist” Dr. Patrick Moore tells Oil & Gas 360® why he left Greenpeace:  Teaching kids that humans are bad and that we are the enemies of the earth is an extremely self-defeating and scientifically incorrect concept The climate change movement is fueled by fear and fundraising Oil & Gas 360® interviewed Dr. Patrick Moore about his time[Read More…]

Secure Data Transmissions from the Digital Oilfield

Secure Data Transmissions from the Digital Oilfield

Secure Data Coverage across 55,000 Square Miles of U.S. Oilfields Two U.S. technology companies recently joined forces to launch a large-scale data/IoT communications network that provides secure data transmission in more than 55,000 square miles of U.S. oil and gas fields in several important shale plays. Digital Oilfield: the hardware consists of a radio and an access point. San Diego’s On-Ramp Wireless,[Read More…]

June 2, 2015 - 7:48 pm 360 Articles, Arctic, E&P, Midstream
Shell Nearing Arctic Development – Under Watchful Eyes

Shell Nearing Arctic Development – Under Watchful Eyes

Huge Expectations, Huge Investment “If you talk about 500 million barrels, I don’t think that will cut it. It must be a multi-multi-billion barrel discovery that we have there.” After investing six years and $6 billion of its development capital, Royal Dutch Shell (ticker: RDS.A) is suddenly within earshot of obtaining final approval to begin offshore exploration for oil and[Read More…]

May 21, 2015 - 4:53 pm 360 Articles, Arctic, Discoveries, E&P, Offshore
Murkowski Puts Forward New Offshore Legislation

Murkowski Puts Forward New Offshore Legislation

Pushing for larger share of offshore oil and gas revenues U.S. Senator Lisa Murkowski – Alaska Alaska’s Senator Lisa Murkowski put forward new legislation last week that hopes to bring more revenue from oil and natural gas production on Alaska’s outer continental shelf (OCS) back to the state. The bill, S. 1278, will “ensure revenue sharing for the state and[Read More…]

May 20, 2015 - 5:40 pm 360 Articles, Arctic, E&P, Offshore, Politics, Regulatory
Source: Rosneft

Shell Prepares to Go Back to the Arctic

Shell exec has eyes set to the North Royal Dutch Shell (ticker: RDSA) is preparing to return to the Arctic and begin exploring for the first time since 2012, according to Chief Financial Source: Rosneft Officer Simon Henry. Henry said the oil major is preparing “an armada of 25 vessels” to begin a two-year program to explore two to three[Read More…]

May 4, 2015 - 6:29 pm 360 Articles, Arctic, E&P, Offshore
Drill Rig in Alaska - Oil & Gas 360

At $51 Billion, Alaska’s Hydrocarbons Fuel the Country’s Largest Trust Fund: EIA

State’s Permanent Fund Pays Annual Cash Dividend to All Residents The 49th state has its perks. All Alaskans get an annual dividend check from the state. In 2014 their checks were $16 shy of $1,900 per resident. Residents can thank their state for the royalties generated by oil and gas production on state lands that go into The Alaska Permanent Fund, established in[Read More…]

May 1, 2015 - 11:50 am 360 Articles, Arctic, E&P
Source: Rosneft

Report Urges Development of Arctic Assets

A report filed by the National Petroleum Council encourages the U.S. to develop Arctic energy reserves The National Petroleum Council (NPC) recently concluded a study at the behest of the United States’ Department of Energy about potentially tapping oil and gas reserves in the Arctic. The NPC’s report encourages developing Arctic assets in the very near future in order to[Read More…]

March 30, 2015 - 6:37 pm 360 Articles, Arctic, Offshore
Source: Rosneft

Sanctions Prevent Russia From Resuming Drilling in the Arctic in 2015

Sources inside the company have confirmed that Rosneft will not be able to move forward in the Arctic for at least a year due to sanctions. State-owned energy giant Rosneft (ticker: RNFTF) will not be able to continue drilling in the Kara Sea in 2015 after Western sanctions halted its cooperation with ExxonMobil (ticker: XOM) in the arctic, two company[Read More…]

January 30, 2015 - 4:57 pm 360 Articles, Arctic, E&P, International, Offshore
Oil & Gas Development on the East Coast Takes Next Step

Oil & Gas Development on the East Coast Takes Next Step

The United States Department of the Interior, in conjunction with President Obama, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper, released a Draft Proposed Program for development of offshore properties in an official release on January 27, 2015. The Program opens up 14 potential lease sales in eight planning areas, including: 10[Read More…]

January 27, 2015 - 6:51 pm 360 Articles, Arctic, E&P, Offshore, Regulatory