From Bloomberg California doesn’t usually come to mind when talking about the U.S. oil boom, but the state’s oil is commanding an increasingly large premium amid an international shortfall of dense, high-sulfur crude. Refiners in the Golden State have been forced to import most of their crude as the state’s production has dwindled. While production from the Permian Basin of West Texas
Overall Rig Count Up Four By Richard Rostad, analyst, Oil & Gas 360 Drilling activity expanded in the U.S. this week, partially making up for the decline seen last week, according to Baker Hughes. A net four rigs began drilling in the country, a change from the 14 that shut down last week. There are now 1,049 rigs active in
Eight rigs shut down, all targeting oil Drilling activity declined this week, countering two weeks of expansion according to Baker Hughes’ Weekly Rig Count. A net eight rigs shut down this week, leaving 1,075 rigs active. This is even with the activity level seen in early December, and is just below the post-downturn high of 1,083. Six land-based rigs shut
California regulators to consider PG&E breakup, converison to private utility
Wind and solar generation are steadily growing in the U.S. According to a new report released by the U.S. Energy Information Administration (EIA), wind and solar electric generation reached or exceeded 20% of total generation in 10 states in 2017. This includes small-scale solar photovoltaics. Source: EIA Facts Summary: Total annual generation (TAG) from wind and solar in the US,
Gov. Jerry Brown signed bill requiring California corporate boards to include women From the Los Angeles Times Gov. Jerry Brown on Sunday signed a bill into law that makes California the first state to require corporate boards of directors to include women, saying that despite potentially “fatal” legal problems in the measure, it is time to force action. “Given all
From the Mercury News In a move aimed at stopping President Trump’s plans to expand offshore oil drilling along the California coast, Gov. Jerry Brown on Saturday signed two laws that prohibit construction of new pipelines that could bring the oil and gas to shore. “Today, California’s message to the Trump administration is simple: Not here, not now,” Brown said.
From Utility Dive California regulators next month will consider a plan to replace three natural gas-fired power plants with energy storage, significantly building on the state’s apparent comfort with batteries as grid solutions. The California Public Utilities Commission (CPUC) is scheduled to vote Jan. 11 on a proposal for Pacific Gas and Electric to issue a request for solicitations for storage projects that
Petroleum industry’s total economic value for California—larger than 15 U.S. state economies A new economic study released today by The Los Angeles County Economic Development Corporation (LAEDC) details the oil and gas industry’s sizable economic and fiscal impacts on California’s economy and also identifies the user industries of refined products and quantifying their economic activity today. The Western States Petroleum Association (WSPA)
Yuma Energy, Inc. (ticker: YUMA) said it has sold its wholly owned subsidiary’s El Halcón property for $5.5 million. The assets are located in Brazos County, Texas, and Yuma held an average working interest of approximately 10% (1,557 net acres) producing approximately 140 Boe/d net from 50 Eagle Ford wells and one Austin Chalk well. Yuma also announced that on May 19, 2017 the lenders under its
Freeport-McMoRan severs its California onshore assets, price tied to Brent futures Freeport-McMoRan (ticker: FCX) announced today a purchase and sale agreement to sell its onshore California oil and gas properties to Sentinel Peak Resources California LLC for total consideration of $742 million, including contingent consideration. Under the terms of the agreement, FCX will receive cash consideration of $592 million at closing and additional consideration of $50 million per annum
Conventional wells, prolific areas, and low cost structure are the staples of Petro River: Brunner Petro River Oil’s President Stephen Brunner spoke to Oil & Gas 360®’s Angie Austin at the EnerCom conference in Denver last week. Brunner talked about the business strategy of Petro River, Oil prospects in Ireland, and a potential uplisting to NASDAQ. Petro River Oil Corp.
