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Markets

FERC Approves Two New LNG Export Projects

The Federal Energy Regulatory Commission (FERC) today approved the Driftwood LNG and Pipeline projects, and the Port Arthur LNG and Pipeline projects.

Discoveries

Exxon Mobil Tacks On Another Discovery Offshore Guyana

Exxon Mobil Corp. and offshore Guyana partners continue their success with their 13th discovery on the Stabroek Block and fifth discovery in the Turbot area.

Lease Sales

Marketed: Nonop Oklahoma Assets, ORRI Across The State

2Bretts retained EnergyNet for the sale of nonop assets and overriding royalty interest plus producing and non-producing minerals across Oklahoma through an auction ending May 1.

Unconventional

US Oil Drillers Cut Rigs For First Time In Three Weeks

The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.

Drilling

Turan Drilling Wins $500 Million BP Contract In Caspian Sea

Turan Drilling, a JV between KCA Deutag and SOCAR AQS, secured the contract for operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea, SOCAR AQS head said

People

ABB Names Peter Voser As Interim CEO, Ulrich Spiesshofer Steps Down

ABB’s board of directors and Ulrich Spiesshofer have mutually agreed for him to step down from his role as CEO, which he has held since 2013, the company said on April 17.

Trending Stories

Markets

Nothing Tops LNG

Above power, petrochem or even Mexico imports, LNG holds the key to U.S. natural gas demand growth and price recovery. And the Haynesville Shale is pole positioned.

Nothing Tops LNG

Above power, petrochem or even Mexico imports, LNG holds the key to U.S. natural gas demand growth and price recovery. And the Haynesville Shale is pole positioned.

FERC Approves Two New LNG Export Projects

The Federal Energy Regulatory Commission (FERC) today approved the Driftwood LNG and Pipeline projects, and the Port Arthur LNG and Pipeline projects.

Frac Spread: NGL Prices Ride A Positive Wave

Speakers at DUG Permian stress how connecting the mighty basin to the Gulf Coast is a path to profitability.

Business

DUG Permian: Plains-Talking Armstrong On Love, Money

Retired CEO describes how the 1980s oil bust guided his thinking as he built a pipeline giant.

ENGIE North America Announces Construction Of Jumbo Hill Wind Project In Texas

The total capital investment of the Project is over $150 million, and there will be up to 250 people employed at the site during the height of construction activity.

Schlumberger Posts 19.8% Fall In Quarterly Profit

Top oilfield services provider Schlumberger reported a drop in quarterly profit, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.

Sources: Renewables Investor Berkeley Hires JP Morgan To Review Options

Renewable energy growth is estimated at an annual average rate of 11% between 2015 and 2035, with growth in wind and solar capacity up nine-fold from seven percent of total power supply today to nearly 40% by 2040, energy consultancy Wood Mackenzie estimates.

Technology

Physics-based Or Data-driven Models?

Well interference has become problematic in oil and gas. Will data-driven analysis via artificial intelligence provide a solution?

US Oil Drillers Cut Rigs For First Time In Three Weeks

The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.

Turan Drilling Wins $500 Million BP Contract In Caspian Sea

Turan Drilling, a JV between KCA Deutag and SOCAR AQS, secured the contract for operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea, SOCAR AQS head said

Sponsored Content

IndustryVoice: 4 Factors that Drive Efficiency and Effectiveness in Frac Sand Sourcing

Whether you need high-quality northern white sand or standard-quality sand from West Texas, sourcing choices drive your economics and efficiency.

Exploration & Production

Physics-based Or Data-driven Models?

Well interference has become problematic in oil and gas. Will data-driven analysis via artificial intelligence provide a solution?

BP, Partners Sanction $6 Billion Azeri Central East Development Offshore Azerbaijan

BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.

Exxon Mobil Tacks On Another Discovery Offshore Guyana

Exxon Mobil Corp. and offshore Guyana partners continue their success with their 13th discovery on the Stabroek Block and fifth discovery in the Turbot area.

US Oil Drillers Cut Rigs For First Time In Three Weeks

The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.

Transactions

ConocoPhillips Unloads Legacy British North Sea Assets For More Than $2 Billion

Private-equity firm Chrysaor agreed to buy ConocoPhillips’ E&P assets in the British North Sea, where the Houston-based company has operated for more than 50 years.

Italy’s Saipem Looking For Partners In Drilling Business

Italian oil services group Saipem is looking for partners for its drilling business, while it has ruled out a trade sale, the company's CEO said on April 18.

Marketed: De Soto Royalty Delaware, Midland Basin Minerals

De Soto Royalty II retained RedOaks Energy Advisors for the sale of its mineral and royalty interests located in the Delaware and Midland basins within the Permian.

ConocoPhillips Unloads Legacy British North Sea Assets For More Than $2 Billion

Private-equity firm Chrysaor agreed to buy ConocoPhillips’ E&P assets in the British North Sea, where the Houston-based company has operated for more than 50 years.

Policy & Regulations

Energy Secretary Rick Perry Reportedly Plans To Leave Trump Administration

"There is no truth that Secretary Perry is departing the administration any time soon," department spokeswoman Shaylyn Hynes said commenting on the news first reported by Bloomberg.

Column: White House Will Tie Iran Sanctions Review To Response By Saudi Arabia

The White House will have to weigh costs and benefits carefully before tightening sanctions on Iran and Venezuela further–and decide whether the economic price is worth the diplomatic gains.

Indian Refiners Turn To OPEC, Mexico, U.S. To Make Up Iran Oil Gap

OPEC and other producers including Russia have gradually tightened supply through 2019 to reduce a global glut. OPEC and its partners may not renew the curbs when they expire after June because of the risk of over-tightening the market.

Chevron Says Dutch Supreme Court Rejects Ecuador's $9.5 Billion Claim

Residents of Ecuador's Lago Agrio region have been trying to force Chevron to pay for water and soil contamination caused from 1964 to 1992 by Texaco, which Chevron acquired in 2001.

Transport

Opinion: Behind Trump’s Executive Orders

Last week, President Donald Trump signed a pair of executive orders designed to ease the transport of fossil fuels across the U.S. and beyond.

Kinder Morgan In Discussions To Build Third Permian Basin Gas Pipeline: CEO

Kinder Morgan Inc. has begun internal discussions about building a third natural gas pipeline in the Permian Basin as demand for gas takeaway capacity continues to surge, CEO Steven Kean told investors on April 17.

Nord Stream 2 Says Denmark Tries To Delay Pipeline As It Seeks Third Route Option

The 765 miles of pipeline, now under construction, has come under fire from the United States and several eastern European, Nordic and Baltic Sea countries which fear it will increase the European Union's reliance on Russian gas.

Concho Resources Forms Permian Midstream JV To Support Midland Basin Growth

Concho Resources agreed to form a JV with Frontier Midstream Solutions, which will build and provide crude oil gathering, transportation and storage services in the Northern Midland Basin.