Latest Hart Energy Exclusives

US Regulator Bars Freeport LNG Plant Restart over Safety Concerns

“Continued operation of Freeport’s LNG export facility without corrective measures may pose an integrity risk to public safety, property or the environment,” the U.S. PHMSA said in its preliminary report.

Whiting, Oasis Petroleum Become Chord Energy as Merger Closes

Whiting, Oasis Petroleum Become Chord Energy as Merger Closes

The new company, Chord Energy based in Houston, has a premier Williston Basin position with top tier assets across approximately 972,000 net acres and a pledge to return 60% of its free cash flow to shareholders.

Marketed: North Dakota Waterloods, Bottineau and Renville Counties

A private seller retained Energy Advisors Group (EAG) for the sale of certain Williston Basin operated assets located in Bottineau and Renville counties, North Dakota.

OPEC Oil Output Again Misses Target in June: Survey

The biggest decline from OPEC in June was in Libya, where supply dropped as unrest continued to curb the country’s output.  The second-largest decline of 80,000 bbl/d came from Nigeria.

Russia Seizes Control of Sakhalin Gas Project, Raises Stakes with West

Russian LNG production from projects such as Sakhalin-2 was likely to suffer as a results, said Saul Kavonic, head of Integrated Energy and Resources Research at Credit Suisse. “This will tighten the LNG market materially this decade,” he added.

Biden Administration Delays Rollout of Offshore Drilling Plan

Interior Department Secretary Deb Haaland in May had vowed to unveil the draft proposal ahead of the June 30 expiration of the current plan.

BP’s Dave Lawler C-suite Chat: Work That Matters

BP’s Dave Lawler C-suite Chat: Work That Matters

Four years after picking up a Haynesville, Eagle Ford and Delaware Basin package for $10.5 billion, BPX Energy is delivering $1 billion a year in free cash flow to parent BP Plc. CEO Dave Lawler spoke with Oil and Gas Investor Executive Editor-at-large Nissa Darbonne on the company’s 2022 outlook and more.

Citizen Energy Sees ‘Dominant Footprint’ Following Latest Midcontinent Acquisition

Citizen Energy Sees ‘Dominant Footprint’ Following Latest Midcontinent Acquisition

Following the acquisition of Red Bluff Resources and Bricktown Energy, Citizen Energy’s Midcontinent position now encompasses 326,000 net acres, 98% HBP.

Back to the Drawing Board: US Supreme Court Upends Biden Climate Agenda

Eric Schaeffer, executive director of the Environmental Integrity Project and former EPA enforcement chief, said the Supreme Court decision will force “EPA back to drawing board.”

Is the Energy Transition, Net Zero Possible?

Is the Energy Transition, Net Zero Possible?

Despite skepticism around the energy transition and net-zero goals, some countries and companies are already making progress. Here’s how.

Equitrans to Complete Mountain Valley Natgas Pipeline in 2023

Mountain Valley—the only big gas pipe under construction in Appalachia—is one of several U.S. pipeline projects delayed by regulatory and legal fights with environmental and local groups.

Marketed: Delaware, Midland Basin Mineral/Royalty Opportunity

An undisclosed seller retained EnergyNet Indigo for the sale of a Permian Basin mineral and royalty opportunity across New Mexico’s Eddy and Lea counties and Howard, Martin and Midland counties in West Texas.

Civitas Resources Names Former Concho Exec Travis Counts as Chief Legal Officer

Civitas Resources Names Former Concho Exec Travis Counts as Chief Legal Officer

In conjunction with the retirement of the company’s general counsel and secretary Cyrus “Skip” Marter, the Civitas Resources board of directors appointed Travis Counts as the new chief legal officer and secretary.

Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million

Ranger Oil Racks Up Six ‘Bolt-on’ Acquisitions Worth $110 Million

Ranger Oil added three “bolt-on” acquisitions in the Eagle Ford Shale, bringing the total of all-cash transactions signed in the second quarter to six worth a combined $110 million.

Permian Highway Pipeline, Kinder Morgan, Exxon Mobil

Kinder Morgan Reaches FID on Permian Highway Pipeline Expansion Project

Permian Pipeline, jointly owned by Kinder Morgan, Kinetik Holdings and ExxonMobil subsidiaries, will proceed with its expansion project across the state of Texas.

How Schlumberger is Helping E&Ps Reduce their Carbon Footprint

How Schlumberger is Helping E&Ps Reduce their Carbon Footprint

Schlumberger recently gave Hart Energy an inside look at the company’s creative solutions and technologies that help oil and gas producers reduce carbon and methane emissions.

US Supreme Court Limits Federal Power to Curb Carbon Emissions

US Supreme Court Limits Federal Power to Curb Carbon Emissions

The court’s 6-3 ruling restricted the EPA’s authority to regulate greenhouse-gas emissions from existing coal- and gas-fired power plants under the landmark Clean Air Act anti-pollution law.

OPEC+ Sticks to Oil Output Hikes, Avoids Debate on September Plans

“OPEC+ is mulling firing its last crude production bullets as it runs out of capacity to pump more, whilst refining capacity for oil products ... which drives the real economy, has declined markedly,” said Ehsan Khoman from MUFG bank.

Energy Policy: Here Today, Gone Tomorrow

Energy Policy: Here Today, Gone Tomorrow

Elected officials who normally are not very supportive of domestic petroleum, or even hostile to it, have suddenly become big fans of U.S. natural gas in the form of LNG exports.

Williams Takes FID on Haynesville Gas Pipeline Project

Louisiana Energy Gateway will facilitate delivery of natural gas to Gulf Coast customers including LNG terminals.

Edison Sells Stake in Algeria Gas Field to Repsol, Wintershall Dea

Repsol will buy 6.75% of the gas field and Wintershall Dea will get 4.50%.

PDC Energy, Broe OGDP, DJ Basin

PDC Energy Receives Approval of Broe Project in D-J Basin

PDC Energy continues to receive permit approvals to develop wells in Weld County, Colo., as it had its third Oil and Gas Development Plan permit approved in the past year.

Analysis: Saudi Arabia Walks Oil Policy Tightrope Between Biden and Putin

Talks on the price cap would soon begin with countries in Latin America and Africa that are smaller but important consumers of Russian oil, a senior U.S. official told Reuters.

Poll: Supply Fears to Sustain Oil Rally, Trumping Recession Risks

In a poll with 34 economists, they predicted that Brent crude oil prices would reach its highest forecast for 2022 so far at $106.82/bbl compared to $101.98/bbl in May.

Wanted: More US Natural Gas

Wanted: More US Natural Gas

Will the U.S. have enough natural gas come winter? Executive Editor-at-large Nissa Darbonne explores in her monthly column featured in Oil and Gas Investor.

Shell Buys Operating Stake in Equinor’s North Platte in US Gulf of Mexico

Shell Buys Operating Stake in Equinor’s North Platte in US Gulf of Mexico

To reflect the change, Equinor and Shell have agreed to rename the North Platte development, located in the Garden Banks area of the U.S. Gulf of Mexico, to Sparta.

Sembcorp Delivers World’s First 8th-gen Ultradeepwater Drillship

Sembcorp Delivers World’s First 8th-gen Ultradeepwater Drillship

The world’s first eighth-generation drillship, the Deepwater Atlas, is expected to begin operations at the Shenandoah project in the Gulf of Mexico later this year, according to a Transocean release.

Environmental Groups Sue to Block Biden Administration Oil and Gas Auctions

The lawsuit, filed in federal court in Washington D.C., alleges that the Interior’s Bureau of Land Management violated the law by failing to adequately analyze the oil and gas lease sales’ impact on climate change.

Texas RRC Proposes Rules to Ready Natgas Industry for Weather Emergencies

“With 1,000 people moving to Texas each day, the long-term solution for our state’s energy needs is to invest and build more cheap, reliable natural gas-fired electric generation,” Texas Railroad Comissioner Chairman Wayne Christian said.

Shell CEO Says Global Spare Capacity is Running ‘Very Low’

“Spare capacity is running very, very low,” Shell CEO Ben van Beurden said on June 29, adding that despite economic and COVID-19 challenges, global oil and gas demand is still recovering.