Joseph
Markman
HartEnergy.com
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Exploration & Production
Oil and Gas World Perceives Biden’s Orders as a Threat
API and other oil and gas organizations express concern over possible economic and environmental damage caused by Biden’s latest batch of executive orders.
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MarketsSee More
US Crude Oil Stockpiles Plunge to Lowest Since March 2020
The decline was the result of a sharp falloff in imports and a 2.3 million-barrel drawdown in oil stockpiles at the Cushing delivery hub for crude futures in Oklahoma.
Magellan, Enterprise to Develop Houston Crude Oil Futures Contract
Quality specifications will be consistent with WTI crude oil originating from the Permian Basin, with delivery capabilities at either Magellan's East Houston terminal or Enterprise's ECHO terminal.
OPEC ‘Cautiously Optimistic’ Oil Market Will Recover in 2021
Oil prices have rallied to an 11-month high this month, helped by a Jan. 5 decision by most members of OPEC+ to hold production steady in February and a pledge by Saudi Arabia to voluntarily cut output.
IEA Cuts Oil Demand Outlook Due to COVID-19 Resurgence
The emergence of new strains of the virus, renewed lockdowns in China and logistical hurdles facing vaccine roll-outs contributed to the gloomier oil demand outlook by the IEA.
BusinessSee More
SPAC Acquisition Concerns Loom Despite Growing Popularity
The current SPAC boom is eerily similar to the shale boom, until 2016 when energy sponsors raised record funds in search of acquiring hydrocarbon assets following the successful traditional IPOs.
Permian Operator Ring Energy Moves Headquarters to Greater Houston Area
Effective Jan. 19, Ring Energy’s corporate headquarters will be located in The Woodlands, Texas. Additionally, the Permian operator closed its Andrews, Texas field office, downsized its Midland office and plans to close its Tulsa, Okla. office.
California Resources Eliminates Exploration, Public Affairs Leadership Positions
California Resources eliminated leadership positions in the areas of public affairs, exploration and development, investor relations and finance as part of a functional realignment by the company to cut costs.
NYC Pension Funds Vote to Divest $4 Billion from Fossil Fuels
Two New York City pension funds voted to divest their portfolios of some $4 billion worth of fossil fuel company securities, Mayor Bill de Blasio, Comptroller Scott Stringer, and fund trustees said.
TechnologySee More
Houston-based Drilling Firm Takes on Hard Rock Challenges
Testing is in final stages for a new impact drilling system that Houston-based Particle Drilling Technologies says will help unlock currently inaccessible reservoirs of oil and gas.
Forum Manufactures Technologically Advanced Submarine Rescue Vehicle
Forum Energy Technologies has completed manufacturing a highly advanced submarine rescue vehicle (SRV) on Jan. 26 including cutting edge technologies, which may be utilized to extract submariners from distress situations.
Cheniere Awards Worley Four Master Services Agreements
Worley has been awarded four master services agreements by subsidiaries of Cheniere Energy Inc. on Jan. 22 to provide engineering, procurement, construction and construction management services to Cheniere’s U.S. Gulf Coast-based LNG facilities.
Caterpillar Receives EPA Clean Air Excellence Award
Caterpillar Inc. has been awarded the U.S. Environmental Protection Agency's (EPA) Clean Air Excellence Award on Jan. 22 in the category of Clean Air Technology for the Cat 3512E Tier 4 DGB engine.
Exploration & ProductionSee More
Economics Behind Up-spacing Trend in Permian Basin
Spacing is a key piece of the puzzle for oil and gas companies looking to boost free cash flow.
OPEC Sees US Shale Output Recovering Further on Oil Rally
The outlook for U.S. shale oil is slightly more “optimistic” due to rising prices and output will recover further in the second half of 2021, OPEC said on Jan.14, in a sign its policy of cutting output is helping rivals pump more.
Apache, Total Hit Oil Pay Offshore Suriname
The latest oil find by Total and partner Apache follows discoveries at Maka Central, Sapakara West and Kwaskwasi.
Pioneer’s Sheffield: Focus Remains on Permian Basin Flaring
With new pipelines online or under construction, Permian Basin operators, regulators and other industry players keep flaring reduction on the agenda.
TransactionsSee More
Tailwater Capital Acquires Tall Oak II, III from EnCap Flatrock Midstream
As part of its acquisition of Tall Oak III, Tailwater Capital said it will merge the company’s assets with Tailwater’s existing portfolio company in the Midcontinent region, Connect Midstream, with the Tall Oak team assuming operatorship.
DNV GL Acquires Consulting Firm Energy and Resource Solutions
DNV GL has acquired U.S. based engineering consultancy Energy and Resource Solutions Inc. (ERS) on Jan. 26, which helps organizations to manage and reduce energy costs through program design, outreach, implementation and evaluation services.
Marketed: Cimarex Energy Midcontinent Properties in Oklahoma, Texas
Cimarex Energy Co. is considering the sale of certain Midcontinent oil and gas properties and related infrastructure in Oklahoma and Texas and has engaged Meagher Energy Advisors Inc. as its exclusive financial and technical adviser.
Shell to Acquire Electric Vehicle Charging Company Ubitricity
The acquisition of Ubitricity marks Shell's expansion into the fast-growing on-street EV charging market and will provide critical competencies, helping Shell to scale its overall EV charging offer, the company said in a statement.
Policy & RegulationsSee More
Oil and Gas World Perceives Biden’s Orders as a Threat
API and other oil and gas organizations express concern over possible economic and environmental damage caused by Biden’s latest batch of executive orders.
Column: Can Biden Transform the US Energy System?
The new president’s impact will likely be more on the micro than the macro level.
Republicans Call for Review Before US Re-Enters Paris Climate Deal
Move reflects political divisions over global warming.
Biden Takes Sweeping Day One Action on Energy, Keystone XL
Soon after his inauguration, U.S. President Joe Biden signed executive actions that included formally revoking the permit needed to build the Keystone XL oil pipeline and rejoining the Paris Agreement on climate change.
MidstreamSee More
NextEra Energy Posts Loss on $1.2 Billion Mountain Valley Pipeline Charge
Regulatory delays on Appalachian natural gas pipe have cast doubt on its in-service date.
US Court Deals Another Blow to Dakota Access Pipeline
The decision raises the possibility that Energy Transfer's Dakota Access Pipeline (DAPL) could be shut down, depending on the status of the environmental review.
Kawasaki Heavy Aims to Replicate LNG Supply Chain with Hydrogen
First cargo of liquefied hydrogen to ship from Australia to Japan this spring.
Iran Asks Indonesia to Explain Seizure of Tanker Accused of Illegal Oil Transfer
Indonesia says that oil spilled during the transfer.
