Closing Bell Story

U.S. rig count increased by 1 this week, at 791

U.S. rig count increased by 1 this week, at 791

This week’s Baker Hughes rig count shows that U.S. had an increase of 1 over last week, resulting in a total count of 791 rigs. Canada had a decrease of 11 over last week, resulting in a total Canadian count …

February 21, 2020 - 11:45 am
ERF Wireless, Inc. Forms New Subsidiary to Acquire Oil and Gas Assets

ERF Wireless, Inc. Forms New Subsidiary to Acquire Oil and Gas Assets

DALLASFeb. 21, 2020 /PRNewswire/ — ERF Wireless, Inc. (OTC PINK: ERFB), today announced that the board of directors have voted to form a new wholly owned private Texas subsidiary corporation named Zona Resources, Inc. The purpose of this …

February 21, 2020 - 11:28 am
Source: Houston Chronicle

LNG opponents sue feds over two Port of Brownsville permits

Houston Chronicle


Opponents of the liquefied natural gas industry have sued a federal agency that issued permits for a controversial LNG export terminal at the Port of Brownsville and a related pipeline.

In a petition filed before the U.S. Court …

February 21, 2020 - 11:00 am
Source: Reuters

Oil retreats in face of renewed coronavirus uncertainties

Reuters


LONDON – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.

Brent …

February 21, 2020 - 10:00 am
Climate change and the coal industry; how are regulations impacting coal production.

Climate change and the coal industry; how are regulations impacting coal production.

WTHI-TV10


Oil & Gas Publishers Note: WTHI-TV10 provides a good report on the coal industry, and some good advice is offered in the report: “We need more diversity on our system that our customers would be hurt if we have

February 21, 2020 - 7:12 am
Noble Paul Romano; Source: Noble Corp.

Noble Corporation posts higher quarterly revenues

Offshore Energy Today


Offshore drilling contractor Noble Corporation has managed to keep its net loss flat in the last quarter of 2019 while its revenues increased during the period. Noble Corp. CEO is getting ready to transition to the role

February 20, 2020 - 7:34 pm
Cabot Oil & Gas Corporation Reports Fourth Quarter and Full-Year 2019 Results

Cabot Oil & Gas Corporation Reports Fourth Quarter and Full-Year 2019 Results

HOUSTONFeb. 20, 2020 /PRNewswire/ — Cabot Oil & Gas Corporation (NYSE: COG) (“Cabot” or the “Company”) today reported financial and operating results for the fourth quarter and full-year 2019. “Our 2019 results highlight the strength of …

February 20, 2020 - 4:15 pm
Source: CNBC

Oil prices rise as US crude stocks build less than expected

CNBC


Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.

Data from the U.S. Energy Information Administration (EIA) showed …

February 20, 2020 - 3:00 pm
Source: Reuters

Russia: oil producers agree no need to hold early OPEC+ meeting

Reuters


MOSCOW – Russian Energy Minister Alexander Novak said on Thursday there was a common understanding among global oil producers that it would now no longer make sense for OPEC and non-OPEC producers to meet before their planned gathering in …

February 20, 2020 - 2:00 pm
Source: Houston Chronicle

Halliburton to pay down debt by issuing $1 billion of lower-interest notes

Houston Chronicle


Houston oilfield service company Halliburton plans to pay down its long-term debt by issuing $1 billion in lower-interest notes.

Halliburton on Wednesday said it plans to issue a type of debt known as senior notes. Due in March …

February 20, 2020 - 1:00 pm
Rep. Bob Latta tours the AEP energy storage system in Bluffton on Wednesday morning. Latta serves on the U.S. House Committee on Energy and Commerce, specifically on the Energy Subcommittee, where he is focused a number of issues including how we can better work toward energy independence.

Congressman Latta visits Bluffton’s AEP grid battery system

Lima Ohio


BLUFFTON — Congressman Bob Latta said Tuesday while touring an AEP storage system in Bluffton that energy storage technologies have the potential to increase the viability of renewable energy sources.

“It’s about looking at nuclear energy, clean coal …

February 20, 2020 - 12:02 pm
Weekly Gas Storage: Inventories decrease by 151 Bcf

Weekly Gas Storage: Inventories decrease by 151 Bcf

Natural Gas Inventories as of February 14, 2020

The EIA has released its natural gas inventory report, showing a net decrease of 151 Bcf as of February 14, 2020.

Working gas in storage was 2,343 Bcf as of Friday, February …

February 20, 2020 - 11:55 am
Source: Reuters

U.S. crude oil inventories increase by 400 thousand barrels

Weekly Crude Oil Storage as of February 14, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 400 thousand barrels from the previous week. At 442.9 million barrels, U.S. crude oil inventories …

February 20, 2020 - 11:45 am
EIA projects U.S. energy intensity to continue declining, but at a slower rate

EIA projects U.S. energy intensity to continue declining, but at a slower rate

EIA


Although growth of energy consumption in the United States is closely tied to growth in GDP and other economic assumptions, it is partially offset by improvements in energy efficiency and other changes in the economy that result in lower

February 20, 2020 - 11:31 am
Lonestar Boosts Proved Reserves to Over 100 Million BOE

Lonestar Boosts Proved Reserves to Over 100 Million BOE

Lonestar Resources US Inc. (NASDAQ: LONE) (together with its subsidiaries, “Lonestar,” “our” or the “Company”) announced that its proved reserves increased to a record 100.6 million barrels of oil equivalent (“MMBOE”) at December 31, 2019 calculated using SEC guidelines. All …

February 20, 2020 - 11:14 am
India ‘bigger problem’ than China on reducing carbon emissions: Michael Bloomberg

India ‘bigger problem’ than China on reducing carbon emissions: Michael Bloomberg

DH 


Oil & Gas Publishers Note: Last nights Democratic debate was the best entertainment, while being horrifying, evening my wife and I have had in a long time. The Deccan Herald posted a good article of Michael Bloomberg’s comments on

February 20, 2020 - 10:01 am
ArcLight and Rattler Form 50/50 Midstream Joint Venture

ArcLight and Rattler Form 50/50 Midstream Joint Venture

ArcLight Capital Partners and Rattler Midstream, a subsidiary of Diamondback Energy, announced today that Amarillo Midstream, an ArcLight Fund V portfolio company, and an affiliate of Rattler have entered into a 50/50 joint venture to own, operate and expand a …

February 20, 2020 - 8:32 am
Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Results; Provides 2020 Outlook

Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Results; Provides 2020 Outlook

Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter and year ended December 31, 2019. Pioneer reported fourth quarter net income attributable to common stockholders of $344 million, or $2.06 per …

February 19, 2020 - 4:07 pm
Warrior Met Coal to Begin Development of World-Class Blue Creek Hard Coking Coal Project

Warrior Met Coal to Begin Development of World-Class Blue Creek Hard Coking Coal Project

Transformational Growth Investment Will Reinforce Warrior’s Position as the Premier U.S. Pure-Play Met Coal Producer –Planned Capacity of 4.3 Mstpa of Premium High Vol A Met Coal with First Quartile Cost Position –Oil&Gas360 Publishers note: This is an

February 19, 2020 - 4:05 pm
Warrior Met Coal Reports Fourth Quarter and Full-Year 2019 Results

Warrior Met Coal Reports Fourth Quarter and Full-Year 2019 Results

Warrior Met Coal Reports Fourth Quarter and Full-Year 2019 Results- Warrior reported fourth quarter 2019 net income of $20.8 million, or $0.41 per diluted share, compared to net income of $374.2 million, or $7.11 per diluted share, in the fourth …

February 19, 2020 - 4:05 pm
Cimarex Reports Fourth Quarter and Full Year 2019 Results

Cimarex Reports Fourth Quarter and Full Year 2019 Results

DENVERFeb. 19, 2020 /PRNewswire/ —

  • Fourth quarter oil production averaged 92.0 MBbls per day
    • Full year oil production averaged 86.2 MBbls per day
  • 2019 capital investment (including midstream) totaled $1.32 billion; below guidance range
    • Lower D&C costs
February 19, 2020 - 4:01 pm
EnerCom Dallas – ESG for the oil and gas industry

EnerCom Dallas – ESG for the oil and gas industry

Oil and Gas 360


The EnerCom Dallas Energy Conference featured an outstanding panel on ESG (Environmental, Social and Governance) featuring Matthew Todd, Director of The Environmental Partnership; Chris Hughen, Associate Professor of Finance at the University of Denver; and Ken …

February 19, 2020 - 3:30 pm
Source: Houston Chronicle

Kinder Morgan CEO offers new guidance on Permian Pass Pipeline

Houston Chronicle


Houston pipeline operator Kinder Morgan plans to build the company’s third pipeline to move natural gas from the Permian Basin of West Texas to the Gulf Coast but the project may have to wait until more customers sign …

February 19, 2020 - 3:00 pm
Source: Reuters

More parties pulled at London oil week due to coronavirus

Reuters


LONDON  – The list of parties at London’s International Petroleum Week, one of the world’s biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan’s SOCAR cancel events due to the coronavirus outbreak, trading sources …

February 19, 2020 - 2:30 pm
Source: CNBC

Abu Dhabi makes pitch to private sector in multi-billion dollar investment drive

CNBC


The Abu Dhabi Government is turning to the private sector for the next phase of its multi-year, 50 billion dirham ($13.6 billion) economic stimulus plan known as Ghadan 21.

The stimulus package is aimed at future-proofing and diversifying the …

February 19, 2020 - 2:00 pm
Source: Houston Chronicle

Sanctions on Rosneft unit threaten Venezuela’s vital oil trade

Houston Chronicle


U.S. sanctions on Rosneft Trading SA threaten Venezuela’s ability to export oil, but pose only a limited threat to the Russian energy giant’s wider business.

The Geneva-based trading arm of Rosneft PJSC, was targeted by the U.S. for …

February 19, 2020 - 1:00 pm
Source: CNBC

US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

CNBC


The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020.

Rob Kaplan, president of the Fed district, said in an

February 19, 2020 - 12:30 pm
Source: Reuters

Argentina’s energy bust spawns ‘ghost town’ in prized Vaca Muerta

Reuters


AÑELO, Argentina  – Just weeks into his young administration, Argentina’s new president convened a meeting with executives from Chevron Corp (CVX.N), Royal Dutch Shell PLC (RDSa.L) and other oil companies in a bid to smooth …

February 19, 2020 - 12:00 pm
Source: Houston Chronicle

Railroad Commissioner to list best, worst oil companies flaring natural gas

Houston Chronicle


In a report released this aftenoon, Railroad Commissioner Ryan Sitton is expected rank oil companies based on the amount of flaring they do.

The 13-page report is expected to show how the industry practice of flaring, or burning …

February 19, 2020 - 11:00 am
Source: Reuters

Oil up on slowing pace of coronavirus, Venezuela sanctions

Reuters


LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from …

February 19, 2020 - 10:00 am