World Oil AUSTIN – The Railroad Commission activated personnel on the evening of Dec. 16 in response to a 5.4 magnitude earthquake about a dozen miles north of Midland in Martin County. They will take any necessary actions to protect public safety and the environment. On Dec. 17, RRC inspectors examined disposal activity at injection well sites near the
World Oil (Bloomberg) — EQT Corp. said the U.S. antitrust regulator asked for additional information and documentary materials in connection with a $5.2 billion acquisition announced in September, a move that raises questions on the largest US natural gas producer’s ability to keep its acquisition spree. Pittsburgh-based EQT plans to buy THQ Appalachia I LLC, a gas producer backed by Quantum Energy
Oil Price The Biden administration has proposed a set of new rules aimed at curbing gas flaring on public lands, with the Bureau of Land Management saying these measures would result in $39.8 million in additional royalties for the United States. Per the proposal, every company applying for an oil and gas drilling permit must submit with it a plan for
BOE Report Canada’s proposal to tax corporate stock buybacks is unlikely to deter oil and gas companies from returning cash to shareholders and may instead put them at a competitive disadvantage, industry officials and analysts said. Canadian energy companies have been the most active in buying back shares of any sector during the past year, according to CIBC, and
Oil and Gas 360 DENVER–(BUSINESS WIRE) 11/03/2022– The Colorado Oil and Gas Conservation Commission (COGCC) today approved Civitas Resources, Inc.’s (NYSE: CIVI) Box Elder Comprehensive Area Plan (CAP), making it Colorado’s first CAP approved with preliminary siting. The CAP framework helps identify and progress a more holistic approach to development plans that enables minimization of traffic, surface impacts, time on-site
Oil Price Regulatory hurdles are stymieing growth in natural gas production in the Marcellus-Utica basin, the largest U.S. gas-producing region, which is set to miss out on the expected boom in American liquefied natural gas (LNG) exports in the coming years. Not only is Marcellus-Utica missing the opportunity to export and monetize natural gas in a world scrambling for LNG
Investing Top U.S. LNG exporter Cheniere Energy (NYSE:LNG) Inc said it will repair and replace equipment at its Louisiana terminal after tests showed it exceeded newly-imposed hazardous emissions limits on certain known carcinogens, but the work will have no material impact on operations. A round of testing showed at least one of Cheniere’s turbines at its liquefied natural gas (LNG) export terminal
World Oil (Bloomberg) — Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the matter. The outreach, which has included companies in the mining, utilities and oil-and-gas industry, underscores the fraught political path for
World Oil AUSTIN – Texas Comptroller Glenn Hegar announced the Fiscal Year 2022 (FY 22) state revenues highlighting that the oil and gas industry paid record-breaking taxes to the state. The oil production tax generated $6.36 billion up 84% from FY 2021, while the natural gas production tax generated $4.47 billion up 185% from last year. Following the report, Railroad
World Oil (Bloomberg) — Exxon Mobil Corp. took the first step toward filing a lawsuit against Russia after Vladimir Putin blocked the oil major from exiting its only remaining operation in the country. Exxon has been trying to exit the Sakhalin-1 project in the country’s Far East since March but was stalled by a presidential decree earlier this
World Oil AUSTIN – Texas is leading the fight to curb the expansion of the Environmental, Social and Governance (ESG) movement, a woke investment strategy that places a priority on subjective environmental and social metrics instead of financial metrics that ensure quality returns for investors. It is estimated that ESG has taken 90% of investments off the table for reliable energy over the
World Oil (Bloomberg) — President Joe Biden won temporary permission to once again pause energy leasing on federal lands and waters, after a U.S. appeals court found a trial judge’s order against the moratorium too vague to review. The court on Wednesday threw out the judge’s nationwide injunction forcing a restart of leasing from the Gulf of Mexico to Alaska
