Louisiana – Oil & Gas 360

States sue BOEM over “egregious” $7 billion decommissioning rule targeting small oil and gas companies

June 18, 2024

World Oil (WO) – Texas, Louisiana, and Mississippi have sued the U.S. government to block a proposed rule by the Biden administration that would require offshore oil and gas companies to provide nearly $7 billion in financial assurances for decommissioning old infrastructure. The decommissioning rule, targeting smaller companies lacking investment-grade ratings or sufficient proven reserves, supposedly “protects” taxpayers from covering

Oil and gas production decreased in the first quarter – Dallas Fed

March 27, 2024

BOE Report Oil and gas production in Texas, Louisiana and New Mexico decreased in the first quarter of 2024, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly survey of energy activity. The survey of executives at 147 energy firms suggested a small decline in production. A natural gas production index also turned negative and oilfield services

CenterPoint to sell Louisiana, Mississippi natgas assets for $1.2 bln

February 20, 2024

Yahoo Finance Transaction valuation represents approximately 32 multiple of 2023 Louisiana and Mississippi Local Distribution (LDC) earnings Sale will enable company to efficiently recycle approximately $1 billion in anticipated after-tax cash proceeds to support industry-leading capital plan Transaction also enables CenterPoint to reprioritize future capital investments related to those assets of approximately $1 billion elsewhere across its regulated Electric and

Deep freeze across Texas, Louisiana disrupts U.S. LNG exports

January 18, 2024

World Oil (Bloomberg) – The recent freeze across Texas and Louisiana disrupted scheduled exports of U.S. liquefied natural gas (LNG), temporarily tightening some supply of the heating and power-plant fuel. The Cameron LNG export plant in Louisiana canceled at least one scheduled shipment, according to people familiar with the matter. Several other planned deliveries from Cameron and Cheniere Energy Inc.’s

Biden gives Louisiana power to approve carbon capture projects

December 29, 2023

Oil Price The U.S. Environmental Protection Agency (EPA) has formally granted Louisiana state primacy in the permitting and regulation of carbon capture projects, in a setback for environmentalists who claim these projects are an excuse to approve more operations that emit more greenhouse gases. In most other U.S. states, EPA has the permitting authority for carbon capture wells and projects. Louisiana has

ExxonMobil “scales up” carbon capture business in Louisiana with $600,000 university donations

June 23, 2023

World Oil (WO) – Louisiana’s Vermilion Parish will be home to a landmark CO2 transportation and storage project ExxonMobil is building to help the state’s industries reduce their emissions. As the University of Louisiana at Lafyette has announced, ExxonMobil Corp. made the following contributions: Two $50,000 endowed scholarships for first-year students from Vermilion Parish who are pursuing

Exclusive-Cheniere to fix Louisiana LNG plant after failing pollution test

September 21, 2022

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

Denbury expands CO2 sequestration portfolio with additional site in Louisiana’s industrial corridor

July 21, 2022

Oil and Gas 360 Publisher’s Note: Denbury, Inc. is a presenter at EnerCom Denver-The Energy Investment Conference on August 7-10, 2022. Register to attend and hear their story. High-quality storage reservoir less than 5 miles from Company’s CO2 infrastructure PLANO, Texas–(BUSINESS WIRE)– Denbury Inc. (NYSE: DEN) (“Denbury”) today announced that it has signed a definitive agreement with a

Louisiana probes source of methane cloud spotted near pipelines

June 7, 2022

World Oil (Bloomberg) — Louisiana is investigating the source of a cloud of methane that was spotted from space near multiple natural gas pipelines. The state began its probe after Bloomberg News contacted the Louisiana Department of Natural Resources about a concentration of the planet-warming gas detected May 28 by a European Space Agency satellite. The plume had an emissions rate of 44 tons of

Vine Energy Inc. drills longest onshore horizontal well in state of Louisiana

October 27, 2021

Business Wire PLANO, Texas–(BUSINESS WIRE)–Vine Energy Inc. (NYSE: VEI) announced today the conclusion of the drilling phase of the longest onshore horizontal well in the State of Louisiana. The CHKMIN 20-29-32HC-01 ALT was recently drilled in Sabine Parish to the Mid-Bossier formation with an estimated lateral of 15,240 feet and total measured depth of 27,520 feet. The well was

Gas Price Pain Ahead if Refiners Face Restart Struggle

September 1, 2021

Rigzone (Bloomberg) — Some U.S. motorists who’d been expecting an end-of-summer relief for gasoline prices should start bracing for higher costs at the pump in the coming days due to Hurricane Ida. Ida made landfall in Louisiana Sunday and is traveling along a path where seven fuel-makers process the equivalent of 12% of the oil refined nationwide. The Category 4

Port Fourchon, other Gulf oil facilities likely offline for weeks after Ida

September 1, 2021

World Oil HOUSTON (Bloomberg) –Port Fourchon, America’s largest base supporting the U.S. Gulf of Mexico offshore oil industry, will take weeks to recover after Hurricane Ida tore through the Louisiana community, leaving a wake of destruction in its path. “How many weeks is a good question,” Chett Chiasson, executive director of the Greater Lafourche Port Commission, said in an interview

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