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Oil and Gas Investor At Closing: OPEC’s Dilemma, Shale’s Hope

Investment

Oil and Gas Investor At Closing: OPEC’s Dilemma, Shale’s Hope

Even for the leanest, meanest oil and gas producer sitting on the best assets in the land, fate hinges on the nature of the recovery.

Offshore Advances: Gulf of Mexico Bends, But Won’t Break

Exploration & Production

Offshore Advances: Gulf of Mexico Bends, But Won’t Break

Although greenfield projects have been put on hold, short-term economics offer a safety net for the U.S. offshore oil and gas industry.

Aker BP_E&P Magazine

Digital Oilfield

E&P Cover Story: Accelerating Remote Operations

Oil and gas industry adopts technologies to ensure worker safety.

MarketsSee More

PATH FORWARD: Why Harold Hamm Fought for Pricing of US Light, Sweet Crude

PATH FORWARD: Why Harold Hamm Fought for Pricing of US Light, Sweet Crude

There’s a new crude benchmark in town. Harold Hamm, founder and executive chairman of Continental Resources, joined Hart Energy to explain how American GulfCoast Select will help producers in the oil industry. 

Venezuela’s Oil Exports Sank in June to 77-year Low

The fall in oil exports has starved the socialist government of President Nicolas Maduro of its main source of revenue, contributing to an economic collapse.

Global Oil Demand Likely Peaked in 2019, Energy Consultancy Firm Says

Norway-based consultancy DNV GL said global energy use would be 8% lower in 2050 than previously expected due to the impact of the pandemic.

China’s Saudi Oil Imports Surge in May to All-time High

In May, Chinese refineries received their first crude cargo from the U.S. since November, of around 550,000 tonnes, the customs data released late on June 25 showed.

BusinessSee More

Powder River tankers

Private Reserves: An Outlook from Private Oil Producers

Zero- and lightly levered private operators throughout U.S. oil basins are on the lookout to buy—and not just where they operate currently. These five producers—in Wyoming, Oklahoma, Colorado and South Texas—share their plans.

Exxon Mobil Signals Second Quarterly Loss in a Row

Exxon Mobil last quarter cut oil production by up to 400,000 bbl/d and capex by 30%, much of it in its shale business.

Shale Drillers Squeezed as Banks Tighten Credit after Oil Crash

So far in the spring season of redeterminations, the total borrowing base for three dozen publicly listed North American oil companies has been slashed by $7.5 billion, according to a Reuters analysis.

Harold Hamm Boosts Holdings in Continental Resources

Harold Hamm said increasing his holdings in Continental Resources stock underscored his confidence in the company, the value of which he believes is currently undervalued due to the COVID-19 pandemic.

TechnologySee More

TDI

TDI-Brooks Completes GoM Coring Program for NOAA OER Expedition

TDI-Brooks was contracted by Coastal Environments Inc. and Gray & Pipe Inc., who received funding from NOAA’s Office of Ocean Exploration and Research, for this expedition on July 1.

Cold Bore Technology Brett Chell Assumes New Role as CEO

Cold Bore Technology Inc., a leader in completion optimization technology, said June 30 that company co-founder and president, Brett Chell has assumed the role of CEO.

CGG

CGG, Alibaba Collaborate on Cloud Geoscience Technologies to Support E&P Industry

CGG GeoSoftware has collaborated with Alibaba Cloud to successfully deploy its suite of proprietary geoscience software solutions on the Alibaba Cloud platform, the company said on July 1.

Schlumberger Introduces Symphony Live Downhole Reservoir Testing

The technology platform enables well-testing control to deliver real-time downhole measurements.

Exploration & ProductionSee More

Completions & Production: Smart Tracers Sharpen E&P Industry’s Focus on Flow Mapping

Completions & Production: Smart Tracers Sharpen E&P Industry’s Focus on Flow Mapping

By using a new, uniquely fingerprinted form of nanoparticles, E&P operators can more efficiently determine the best producing stages from the nonproducing ones in an unconventional well.

Why US Shale Production Declines Are Higher Than You Might Think

Why US Shale Production Declines Are Higher Than You Might Think

The natural decline rates of existing oil and gas wells across major shale plays in the U.S. will contribute to a tighter supply/demand balance.

Source: Shutterstock.com

W&T Offshore CEO: Expect More Acquisitions in Future

Uncertainty, however, lingers for the oil and gas industry surrounding oil demand recovery and prices.

Talos Energy Adds to Gulf of Mexico Position with ‘Tactical’ Bolt-on

Talos Energy Adds to Gulf of Mexico Position with ‘Tactical’ Bolt-on

Among the acquired assets are multiple prolific, producing fields in the Gulf of Mexico Shelf that were originally discovered and/or operated by predecessor companies led by current Talos Energy management.

TransactionsSee More

Warren Buffett’s Berkshire Hathaway Buys Dominion Gas Business Worth Nearly $10 Billion

Warren Buffett’s Berkshire Hathaway Buys Dominion Gas Business Worth Nearly $10 Billion

The deal reflects a strategic repositioning by Dominion Energy on its regulated utility operations, according to CEO Thomas F. Farrell II, and also follows the company’s decision to cancel the Atlantic Coast Pipeline.

BP Completes Part of $5.6 Billion Alaska Sale to Hilcorp Energy

The agreement calls for Hilcorp to pay $4 billion to BP over an unspecified time, with the remaining $1.6 billion based on future earnings from the Alaskan properties.

Energy A&D Transactions from the Week of July 1, 2020

Here’s a snapshot of recent energy deals including a $5 billion divestiture by BP as the London-based major shifts its focus to low-carbon energy.

On the Market Oil and Gas Quicklist (Week of July 1, 2020)

Here’s a quicklist of oil and gas assets on the market including an operated working interest package that includes producing Barnett Shale wells.

Policy & RegulationsSee More

denmark

Denmark Gives Nord Stream 2 Nod to Restart Pipeline Work

Action removes a key obstacle to bringing Russian gas to Europe.

usmca

New Trade Deal Launches Under Cloud of Disputes, Coronavirus

Tariffs against Canada and labor issues in Mexico raise concerns about USMCA.

petchem

DOE Report Touts Appalachia’s Coal, Petchem Future

Trump administration wants to create a petrochemical hub in the region.

pipelay

EU Prepares Response to Nord Stream US Sanctions Threat

Commission says that the threatened US sanctions could violate international law.

MidstreamSee More

PATH FORWARD: Blackbuck Resources’ Justin Love on Company’s Different Stage, Restarting Well Resources

PATH FORWARD: CEO Justin Love on Blackbuck Resources’ Unique Position

Blackbuck Resources CEO Justin Love says a unique background and being debt-free has allowed opportunities for the Houston-based midstream company through this tumultuous time. 

Dominion, Duke Energy Cancel Atlantic Coast Pipeline

Dominion Energy and Duke Energy on July 5 announced the cancellation of the Atlantic Coast Pipeline due to ongoing delays and increasing cost uncertainty which threatens the economic viability of the project.

Near-record Oil Stockpiles at US Gulf Coast Pressure Prices of Domestic Grades

Mars Sour, the benchmark for sour U.S. Gulf Coast grades, was trading at a $1.05 premium to U.S. crude futures on July 1.

Targa NGL Pipeline Co. Launches Open Season

Interconnection will link Oklahoma to Mont Belvieu.