The Energy Independence and Security Act of 2007 (EISA) set yearly RFS volume requirements for each renewable fuel category. EPA updates volume requirements each year based on fuel availability. The RFS is a federal program that requires transportation fuel that is sold in the United States to contain a minimum volume of renewable fuels. It’s known as the renewable fuel
North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February. In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day. February was another good month of production for the state, reaching an all-time high for natural gas production. The commission reported natural gas
Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer With U.S. shale on a tear, imports are dropping Total U.S. crude production reached 10 MMBOPD in November 2017 and the Canadian Industrial Outlook report from The Conference Board of Canada estimates that U.S. production will pass 11 MMBOPD in
Diamondback Energy, Inc. (ticker: FANG) produced 102.6 MBOEPD in Q1 2018. This is 10% more than Q4 2017 production volumes of 92.9 MBOEPD. Diamondback is currently running 11 drilling rigs and five dedicated completion crews. Q1 2018 average realized prices were $61.66 per barrel of oil, $2.20 per Mcf of natural gas and $24.64 per barrel of natural gas liquids,
Crescent Point Energy Corp. (ticker: CPG) said its Q1 2018 production and cash flow from its U.S. assets have grown year-over-year by approximately 60% and 175%, respectively. Additionally, the company said its land position in the east shale Duvernay light oil resource play now totals over 355,000 net acres ($315/acre), or 555 net sections. “Our U.S. assets continue to grow
Lonestar Resources US Inc. (ticker: LONE) reported a net loss attributable to common stockholders of $13.7 million, or $(0.58) per share for Q4 2017. For 2017, the company had a net loss of $42.6 million, or $(1.92) per share. Net oil and gas production in Q4 2017 was 7,272 BOEPD. For 2017, Lonestar produced about 6,495 BOEPD. Reserves Proved reserves
U.S. continues to import less while exporting more Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower, the EIA said today in a new report. Gross energy imports have been generally decreasing
Brazil’s state-controlled oil company, Petrobras, has hedged a portion of its 2018 oil production. The move should protect cash flow against downturns in the marketplace. Bloomberg reported that the company hedged 128 MMBbls, or 350,685 BOPD at an average Brent price of $65/bbl. The average cost, a company filing on Wednesday said, is about $3.48 a barrel. Petrobras has become
Super laterals made the difference: Eclipse had eight of Q4 2017’s top ten producing wells in Ohio – Hulburt Eclipse Resources Corporation (ticker: ECR) successfully drilled its longest Utica Dry Gas well to date. The Wiley D 8H had a total measured depth of approximately 30,130-feet and a lateral extension of approximately 19,335-feet in 20.5 days from spud to total
Data published by state agencies, like the Texas Railroad Commission, are often incomplete when first published because of a combination of late reporting and processing delays, the EIA explained today as it compared TRRC and EIA data sets. TRRC’s most recent report (published March 2018, with estimates through December 2017) is consistent through January 2017 with production estimates in the
Thanks to new takeaway capacity, company looks at additional growth in 2018 Permian E&P Lilis Energy, Inc. (ticker: LLEX) said its third-party operated midstream system has commenced operations. The company also said that its current production is exceeding 5,000 BOEPD (75% liquids) and continues to grow as the midstream system reaches maximum efficiency. Additional wells are currently in flowback. “Completing
It was in July 2017 that Apache Corp. (ticker: APA) announced it was selling its conventional light oil production to Cardinal Energy Ltd. (ticker: CJ). At that time, Cardinal estimated that the properties would add about 5,000 BOEPD of production, with oil and NGLs making up all production. In Q4 2017, Cardinal’s average daily production was 20,948 BOEPD, and for
