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MarketsSee More

US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%

US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%

Crude oil inventories at Cushing—home to a chunk of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.

Soaring Gas Prices Ripple through Heavy Industry, Supply Chains

Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers.

US Natgas Rally Loses Steam on Big Storage Build, Lower Demand View

U.S. natural gas futures slipped on Sept. 16, pressured by a larger-than-expected storage build last week and forecasts for slightly lower demand through next week.

US Gulf Crude Oil Ramps Up after Hurricane Losses

U.S. Gulf Coast crude oil exports are flowing again after recent hurricanes took out 26 million barrels of offshore production with local prices easing as more shipments moved out of the region.

BusinessSee More

Natural Gas Spotlight: The Blue Hydrogen Advantage

Natural Gas Spotlight: The Blue Hydrogen Advantage

Made from natural gas, the superior Btu fuel remains most practical and efficient for its current uses rather than in transportation. For example, the boiling point is colder than Jupiter, it doesn’t like hard steel and it needs a nearly entirely new infrastructure.

BP Gambles Big on Fast Transition from Oil to Renewables

BP acknowledged that its fast-growing clean-energy business—including its solar, EV-charging and wind ventures—continues to lose money. The company does not expect profits from those businesses until at least 2025.

Surge Energy Longtime COO Phil Webb to Retire

Following the retirement of Phil Webb, a portion of the COO responsibilities at Surge Energy will be handled by Vice President of Development Chris Alonzo, Vice President of Operations Joe Fleming and Chief Geologist CJ Liu.

PDVSA Begins US Trial over Claim Sanctions Prevented Debt Payments

PDVSA, in a bench trial before U.S. District Judge Louis Stanton, will present evidence it says shows attempts to pay were blocked by banks wary of sanctions.

TechnologySee More

Schlumberger field technology

CCS Roundtable: Innovations Lead to a Greener Future

Service providers weigh in on how technologies affect the present and future carbon capture and storage operations.

Key Energy Services Sells Texas, New Mexico Fluid Management Business

The sale of all its Texas and New Mexico fluid management and saltwater disposal well assets completes Key Energy Services’ exit from this line of business in these states.

ChampionX Wins Five-Year Contract with Vår Energi

Throughout the five-year period, ChampionX will continue to deliver its range of chemical management services to Vår Energi, which encompasses the deployment of its asset integrity, phase separation, flow assurance and enhanced oil recovery chemical technologies.

Exxon Mobil’s Carbon Capture Megaproject in Houston Draws Support from Chevron, Others

Exxon Mobil unveiled that a slew of companies including Chevron, NRG Energy, Phillips 66 and more have all began discussing plans to support its carbon capture and storage plans in Houston.

Exploration & ProductionSee More

hydraulic-fracturing-shale

Factors for Shale Producers to Consider When Tackling FDIs

A shale expert shares some insight on factors to evaluate when optimizing hydraulic fracturing.

US Shale Production to Rise on Projected Permian Basin Boost

US Shale Production to Rise on Projected Permian Basin Boost

The projected increase in oil and gas production follows recent reports by the EIA of a sharp decline in the DUC count in all major U.S. shale regions.

Norway 2021 Licensing Round Attracts Bids from 31 Oil Companies

The ministry's announcement follows Norway's parliamentary elections this week where climate change and the future of the country's oil industry were major topics of debate.

Permian-Basin-shale-oil

Pioneer Natural Resources Goes Longer in Permian Basin

The Permian Basin operator plans to drill more 15,000-ft laterals and is studying whether it should go even longer.

TransactionsSee More

Insight: ConocoPhillips Made Shell Permian Deal with Cash, ‘Patience’

Insight: ConocoPhillips Made Shell Permian Deal with Cash, ‘Patience’

After patiently waiting through the shale land rush, Enverus’ Andrew Dittmar says ConocoPhillips is picking up prime real estate in the Permian Basin with its blockbuster purchase from Shell.

Energy A&D Transactions from the Week of Sept. 22, 2021

Here’s a snapshot of recent energy deals including Shell’s U.S. shale exit through the $9.5 billion cash sale of its Permian Basin position to ConocoPhillips.

On the Market Oil and Gas Quicklist (Week of Sept. 22, 2021)

Here’s a quicklist of oil and gas assets on the market including a legacy mineral position in the Permian Basin plus a Rock Oil nonop and minerals opportunity in the SCOOP and STACK plays of Oklahoma.

Northern Oil and Gas in Lead to Buy Comstock Bakken Assets

Northern Oil and Gas bid about $170 million for a nonoperated working interest in Comstock Resources’ Bakken assets, sources say.

Policy & RegulationsSee More

Climate measures like the Clean Electricity Performance Program could pose long-term challenges to oil and gas use. (Source: Hart Energy; Serhiy Smirnov, sirius1/Shutterstock.com)

How Passage of Infrastructure, Reconciliation Bills Would Target Fossil Fuel Use

Oil and gas will continue under Biden’s climate measures, but long-term use faces challenges.

Biden Pledges to Double US Climate Change Aid

The funding would help achieve a global goal set more than a decade ago of $100 billion per year to support climate action in vulnerable countries by 2020.

Dakota Access Pipeline Asks US Supreme Court to Scrap Environmental Study Order

Energy Transfer, which operates the 570,000 bbl/d pipeline out of the Bakken shale basin, has said Dakota Access is safe.

Biden Administration to Move BLM Headquarters Back to Washington

BLM manages 245 million acres, or a tenth of America’s land base, overseeing programs such as oil and gas drilling, cattle grazing and recreation.

MidstreamSee More

Kinder Morgan to Transport Southwestern Energy’s Responsibly Sourced Natural Gas

Kinder Morgan to Transport Southwestern Energy’s Responsibly Sourced Natural Gas

Beginning Nov. 1, Southwestern will produce and Tennessee Gas Pipeline, a subsidiary of Kinder Morgan, will transport the responsibly sourced natural gas to Northeast markets.

Enbridge Launches Open Season for Transport to Dawn Gas Hub

Enbridge Gas is holding a binding open season for C1 transportation services from St. Clair (DTE) and/or Bluewater to Dawn starting November 1, 2023 for a minimum of five years, the company said on Sept. 20.

Tribes Say Dakota Access Oil Pipeline's Environmental Review is Biased

The U.S. District Court for the District of Columbia revoked a key environmental permit for the largest pipeline out of the North Dakota oil basin last year and ordered the study.

Lagoon Water Midstream Enters Permian Basin through Double Drop Acquisition

The acquisition of Double Drop Resources significantly expands Lagoon Water Midstream’s operations and establishes it as a multibasin water management company.